Free Other Types of Property and Casualty Practice Questions
Maryland Property & Casualty exam (series 20-32) — 76 practice questions.
Subtopics: Surety bond, Equipment breakdown, Professional liability, Joint Insurance Association, JIA eligibility, Essential property insurance, JIA membership, JIA financing, JIA status, JIA inspections, JIA rates, Umbrella and excess, Surety bonds, Flood insurance, Specialty liability, Ocean marine, Alternative markets, Difference in conditions, Aviation, Directors and officers, Employment practices liability, Cyber liability, Boiler and machinery, Fidelity bonds, Inland marine floater, Crop insurance, Title insurance, Yacht coverage, Surplus lines, Errors and omissions, Farmowners, Terrorism coverage, Mobile home, Residual markets, Surety bond parties, Payment bonds, License and permit bonds, Judicial bonds, Miller Act bonds, Bid bonds, Inland marine scope, General average, Jettison, Barratry, Perils of the sea, Jeweler's block, Transit coverage, Inland marine conditions, Ocean marine scope, Boat owners package, Aviation insurance, Aircraft liability
Read the Other Types of Property and Casualty study guide
Sample questions & answers
1. A surety bond involves how many parties?
Three: principal, obligee, and surety
A surety bond is a three-party agreement among the principal (who must perform), the obligee (who is protected), and the surety (which guarantees performance).
2. Equipment breakdown (boiler and machinery) insurance covers loss from:
Sudden mechanical or electrical breakdown of equipment
Equipment breakdown coverage pays for damage from the sudden and accidental breakdown of boilers, machinery, and electrical equipment.
3. Professional liability (errors and omissions) insurance protects against:
Claims from errors in professional services
Professional liability/E&O covers claims that a professional's error, omission, or negligent service caused financial harm to a client.
4. Maryland's residual market for property owners who cannot obtain essential property or homeowners insurance in the voluntary market is the:
Joint Insurance Association
The Maryland Property Insurance Availability Act establishes the Joint Insurance Association to make essential property insurance and homeowners insurance available to qualified applicants.
All Property & Casualty topics
Practice: Other Types of Property and Casualty
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
