Xcel Solutions Property Casualty Test

Xcel Solutions Property & Casualty Test | 120 Questions with 100% Correct Answers | Verified | Latest Update

Question : If an insured's dog bites a guest that results in a

settlement amount of $150,000 plus attorney fees of $70,000.How much is the insured personally responsible to pay if their homeowners policy Coverage E amount was $100,000?

Correct answer: $50,000

Question : E is a professional musician who owns a vintage

guitar with a current value of $20,000. E should properly

insure this guitar with a(n):

Correct answer: Personal Articles Floater

Question : For policyholders in the same risk classification, it

is unlawful to:

Correct answer: Charge different premiums

Question : Additional coverages of a Farm owners policy E &

F will pay ____ to replace lost farm operations info as a result of a covered cause of loss.

Correct answer: $2,000

Question : On 12/12, C suffered a loss under her homeowners

liability section. On 12/18, she declared bankruptcy. The

insurer:

Correct answer: Must cover the loss

Question : In cases where the customer is responsible for

damage to the shipment instead of the seller & loss will occur, the seller may get sued if losses occur. Therefore, it's best for

the seller to have:

Correct answer: Contingency Insurance Policies

Question : BOP endorsement BP 04 57 which states the

insurer will protect against loss of business income due to the condition of power interruption originating away from the

premises is known as:

Correct answer: Utility Service Time Element

Question : J has a policy & wants to know what his rights &

duties of the policy will be & what duties & rights the insurer

has. J should read the:

Correct answer: Conditions

Question : Who of the following would be an example of a

dram?

Correct answer: Buddy's Dive Bar & Grill

Question : An insurable interest is measured by:

Correct answer: The amount of damages the insured might

occur

Question : Claims settlement practices of insurers are

regulated by:

Correct answer: State Insurance Departments

Question : B has a property policy & would like to know

perils that are covered. B should read the:

Correct answer: Insuring Clause

Question : If a loss occurs as a result of Domestic Violence by

one insured against another the AZ Special Provisions

Endorsement:

Correct answer: Allows the insurer to pay the victimized party

& subrogate against the perp

Question : The AZ Auto Insurance Plan may best be

described as:

Correct answer: A plan made up of all auto insurance carriers

that provides insurance to individuals who cannot obtain coverage in the voluntary market

Question : An insurer operating in the US but headquartered

outside the US is:

Correct answer: Alien

Question : Which one is not an AZ Motor Vehicle minimum

coverage requirement?