Pearson Vue: Casualty Insurance Practice Exam 2024/2025 Already Graded A+

a store, all of the following situations would be considered theft EXCEPT: A. merchandise being stolen with evidence of forced entry B. a clerk witnessing a customer shoplifting merchandise C. a clerk being robbed at gunpoint D. the store's year-end inventory coming up short by 5 percent {Ans: D}Insurance purchased to protect an insured from death, injury, disability or property damage of another is defined as: A. Credit Insurance B. Property Damage Legal Insurance C. Liability Insurance D. Accident and Health Insurance {Ans: C}After paying a claim, an insurance company may have the right to pursue legal action against the negligent party. This right is called: A. assignment B. other insurance C. subrogation D. action against the company {Ans: C}Which of the following sections of a policy limits coverage? A. Policy summary B. Conditions C. Binders D. Exclusions {Ans: D}The Arbitration clause in a Personal Auto policy would be used in which of the following circumstances? A. The insurance company and a pedestrian struck by the insured's auto cannot reach an agreement regarding the settlement of a claim. B. The insured and an injured third party cannot reach an agreement regarding the settlement of a claim.