Property & Casualty License Practice Exam For Pa

Which of the following homeowners coverages are property coverages? Select one: a. Coverage D b. Coverage A c. Coverage B d. All of these are correct {Ans: D.}A means of transferring the risk of loss {Ans: Insurance}Purchased in the normal of standard market. {Ans: PA Fair Plan Act}__________________________ insurance principally protects parties that act as trustees from suits that allege wrongful acts in the handling of invested funds. {Ans: Fiduciary liability}Which section of an insurance policy details the obligations of the insurer in the event of a covered loss? {Ans: The insuring agreement}A resident producers license must meet what 2 requirements? {Ans: 1.) May either reside in PA -or- 2.) Have their principal place of business in PA}Which of the following is not a power and duty of the insurance commissioner? {Ans: Issuing a cease and desist order, prosecuting producers who violate state insurance laws, conducting complaint hearings, appointing examiners.}The insurer of an equipment breakdown policy reserves the right to do which of the following if a piece of covered equipment is found to be in an unsafe condition? {Ans: Immediately suspend coverage on the unsafe piece of equipment}Which of the following