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Explore Creator Insights & Detailed Media Analysis for Pdf Download Free Insurance And Study Games About P&C Insurance Exam Questions Actual Qs And Ans Expert Verified Explanation This Exam Contains: Guarantee Passing Score 425 Questions And Answers Format Set Of Multiple Choice Expert Verified Explanation Question 1: Nonconcurrency Answer: Situation That Exists When The Same Property Is Covered By More Than One Policy, But The Policies Are Not Identical As To The Extent Of Coverage Provided. Question 2: Trip Transit Policy Answer: (Nonfiled Commercial Inland Marine Policy) Covers A Single Shipment Of Goods. Question 3: Valued Policy (Agreed Amount Policy) Answer: Policy Written For A Specified Amount That Lists The Value Of The Insured Property As Agreed To By Both The Insured And The Insurer; This Amount Is Used To Value Losses. Question 4: Contractors Equipment Floater Answer: (Nonfiled Commercial Inland Marine Form) Covers The Heavy Machinery. Equipment, And Tools A Contractor Uses In Business. Question 5: Repair Cost Answer: The Cost To Repair A Damaged Or Destroyed Item Of Property. May Be The Basis Of Reimbursement For A Loss. Question 6: Special Damages Answer: Type Of Compensatory Damages That Reimburse The Injured Party For Direct And Specific Expenses Involved In The Loss, Such As Medical Expenses And Lost Wages, Question 7: Public Official Bonds Answer: (Type Of Surety Bond) Furnished By Principals Who Are Elected Or Appointed To Fill Positions Of Trust That Guarantee Their Faithful And Honest Performance In Office. Question 8: Pap (Personal Auto Policy) Answer: Auto Policy That Provides Property And Liability Coverage For Both Owned And Nonowned Autos Used, Maintained, Or Operated By The Insured And Her Family Members. Question 9: Optional Limits Transportation Expenses Coverage Endorsement Answer: Pap Endorsement That Allows The Insured To Select The Daily And Maximum Limits Of Coverage Provided For Transportation And Loss Of Use Expenses. Question 10: Imports Answer: (Category Of Nationwide Definition) Includes Risks Eligible For Ocean Marine Insurance. Question 11: Condition Contract Answer: A Contract That Contains A Number Of Conditions That Both Parties Must Comply With. Question 12: Outboard Motor And Boat Insurance Answer: Insurance Against Physical Damage To Boats; Usually Provided By Inland Marine Forms. Question 13: Commercial Lines Answer: Insurance Designed For Businesses, Institutions, Or Organizations. Question 14: Cgl (Commercial General Liability) Coverage Part Answer: (Part Of The Cpp) Provides Liability Coverage For Businesses. Question 15: Insurance Guaranty Association Answer: State Funds Created By Law That Pay Claims Of Insurers Domiciled In That State Become Insolvent; Generated By Making Assessments Against Other Insurers Operating In The State. Question 16: Owners And Contractors Protective Liability Coverage Form Answer: Commercial General Liability Coverage Form That Covers Claims Caused By The Negligence Of A Contractor Or Subcontractor Hired By The Insured. Question 17: Robbery Answer: In Crime Insurance, The Taking Or Attempted Taking Of Property By One Who Has Cause Or Threatened To Cause Bodily Harm, Or Committed A Witnessed Obviously Unlawful Act. Question 18: Fela (Federal Employers Liability Act) Answer: Federal Law That Provides Benefits To Injured Railroad Workers Who Are Exempt Under State Workers' Compensation Laws. Question 19: Implied Warranties Answer: (Ocean Marine Insurance) Warranties That Are Not Written Into The Policy, But Have Become A Part Of The Policy By Custom. Question 20: Assessment Mutual Company Answer: Mutual Insurance Company That Charges Members A Pro Rata Share Of Losses Ate The End Of Each Policy Period. Https://Www.learnexams.com/Study Content/Free Insurance And Study Games About Pc 49251 →