KENTUCKY PROPERTY AND CASUALTY
INSURANCE FINAL EXAM 2025 WITH
QUESTIONS AND CORRECT ANSWERS |
ALREADY GRADED A+ | GUARANTEED PASS |
KENTUCKY PROPERTY AND CASUALTY
ACTUAL LATEST VERSION 2025 [BRAND NEW!!]
The amount the insurer will pay under Coverage D (Loss of Use) depends on - ANSWER- The amount of coverage on the dwelling
Using an air-cooled engine, a proposed insured has developed a new, experimental aircraft. If the inventor applies for liability insurance, what rating type will the insurer most likely use? - ANSWER- Judgement
If a crime policy includes the extended reporting period in the discovery form, general losses must be reported within how many days of policy cancellation? - ANSWER- 60 days
Rates that are established based on the similarities of the risk with other risks are known as - ANSWER- Manual rates or class rates
Which of the following is defined as the cost to replace damaged property with less expensive and more modern construction or equipment? - ANSWER- Functional replacement cost
- / 2
How much coverage can be available for watercraft damage in the homeowners policy? - ANSWER- Up to $1,500
Which of the following is a mandatory part of an insurance policy that varies with each individual policy? - ANSWER- Declarations
The regular National Flood Insurance Program would insure an eligible single- family dwelling for up to - ANSWER- $250,000 on a replacement cost basis
Following a property loss that is covered under a business owner's policy, if the insurer and insured cannot agree on the amount of the loss, what method is used to resolve the issue? - ANSWER- Appraisal
Which of the following would NOT justify the revocation of an insurance license?
- ANSWER- Sharing commissions with another licensed agent
All of the following are classes of inland marine risks EXCEPT - ANSWER-
Common carrier cargo liability. The four classes of inland marine risks are:
Domestic shipments and transportation risks; bridges, tunnels, and other instrumentalities of transportation and communication; commercial property floaters risks; and personal property floater risks
Which of the following is another term for an authorized insurer? - ANSWER- Admitted or authorized
To be eligible for BOP coverage, an office building cannot be higher than - ANSWER- 6 stories
Which of the following is NOT one of the available additional coverages in the builder's risk form? - ANSWER- Vandalism
- / 2