Georgia Property & Casualty Exam Solved Papers - Questions with Complete Solutions Which of the following correctly describes a principal difference between a dwelling policy and a homeowners policy?A.) A dwelling policy only covers the dwelling, other structures, personal property, fair rental value, and additional living expenses. It does not cover liability.B.) Both policies are almost identical, except that the homeowners policy focuses on the more expensive homes.C.) A dwelling policy requires that the owner occupy the dwelling.D.) Although any one- to four-family dwelling is eligible for a homeowners policy, only a one-family dwelling is eligible for a dwelling policy. - Correct Answers ✅A.) A dwelling policy only covers the dwelling, other structures, personal property, fair rental value, and additional living expenses. It does not cover liability.All of the following statements regarding the dwelling policy
are correct EXCEPT:
A.) There are six dwelling policy forms.B.) An unendorsed dwelling policy provides property coverage only; it does not include liability coverage.C.) The dwelling policy can cover a residence for less cost than a homeowners policy. 1 / 4
Georgia Property & Casualty Exam Solved Papers - Questions with Complete Solutions D.) The dwelling policy covers personal property as well as the dwelling itself. - Correct Answers ✅A.) There are six dwelling policy forms.
There are actually only three: basic, broad, and special.
What endorsement should Jeffrey's Flowers add to its commercial property policy if it wants coverage for breakdown or contamination and power outage?A.) Ordinance or Law B.) Peak Season C.) Spoilage Coverage D.) Value Reporting Form - Correct Answers ✅C.) Spoilage Coverage
Most insurance regulation is conducted by the:
A.) Federal Insurance Office B.) U.S. Congress C.) U.S. Department of Health, Education and Welfare D.) State Government Agencies - Correct Answers ✅D.) State Government Agencies 2 / 4
Georgia Property & Casualty Exam Solved Papers - Questions with Complete Solutions Which of the following is an example of adverse selection?A.) an applicant who just bought a new car and wants to buy the least expensive auto policy B.) a homeowner who wants to meet with her agent to discuss her current coverages following some recent home improvements C.) an applicant whose business was recently burglarized deciding he had better buy some commercial crime insurance coverage D.) a business owner who decides to cancel his business owner's policy because he believes he can financially handle any losses that might occur - Correct Answers ✅C.) an applicant whose business was recently burglarized deciding he had better buy some commercial crime insurance coverage When comparing her insurance company's policies to those of Zenith Insurance, Melanie makes a misleading statement to convince an insurance prospect to terminate a policy with Zenith and buy one from Melanie's company. Melanie has
engaged in:
A.) Twisting B.) Rebating 3 / 4
Georgia Property & Casualty Exam Solved Papers - Questions with Complete Solutions C.) Unfair discrimination D.) Defamation - Correct Answers ✅A.) Twisting Stuart receives a notice from his insurance company telling him that his policy will be terminated at the end of the policy period. The notice provides a reason, which can be any of the
following EXCEPT:
A.) He filed a false claim.B.) He failed to disclose information necessary to properly rate the risk.C.) He failed to pay the premium.D.) He was in a traffic accident caused by another driver. - Correct Answers ✅D.) He was in a traffic accident caused by another driver.Which type of insurance company pays policy dividends to its policyowners?A.) stock insurance company B.) mutual insurance company C.) captive insurance company D.) reinsurance company - Correct Answers ✅B.) mutual insurance company
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