Free Other Property Insurance Practice Questions
Wyoming Property exam — 86 practice questions.
Subtopics: TRIA certification, TRIA minimum loss, TRIA program trigger, TRIA federal share, TRIA insurer deductible, TRIA make available, TRIA annual cap, TRIA expiration, Crop authority, Crop insurance defined, Portable electronics, Marine definition, Multiple line insurer, Surplus lines conditions, Export for lower rate, Surplus lines broker required, Surplus lines disclosure, Signed SL notice, Surplus lines tax, Surplus lines report, Surplus lines bond, Resident SL license, Home state rule, Exempt commercial purchaser, SL broker paying producers, Wet marine exemption, Nonadmitted contract valid, Premium paid to SL broker, NFIP flood, NFIP waiting period, NFIP limits, Difference in conditions, Mobile home policy, Ocean marine implied warranty, General average, NFIP Risk Rating 2.0, NFIP Increased Cost of Compliance, Write Your Own program, Nationwide marine definition, Personal articles floater, Beachfront and windstorm plans, Ocean marine hull coverage, NFIP flood definition, NFIP contents limit, NFIP nonresidential limit, NFIP ICC limit, NFIP waiting exception - loan, NFIP map revision, NFIP building valuation, NFIP contents valuation, NFIP basement, NFIP proof of loss, NFIP lawsuits, NFIP loss avoidance, NFIP Community Rating System, NFIP participating community, NFIP emergency vs regular program, NFIP forms, Inland marine floater, Homeowners vs boat theft, Cargo coverage, Crop insurance, Crop-hail, DIC flood and quake, NFIP, Ocean marine, Farm property, Farm liability, Farm machinery, Inland marine floaters, Scheduled property, FAIR plans, Cyber - first party, Cyber coverage gaps, Cyber coverage forms
Read the Other Property Insurance study guide
Sample questions & answers
1. Under the federal Terrorism Risk Insurance Act, an act of terrorism must be certified by the:
Secretary of the Treasury
TRIA Sec. 102(1) defines an act of terrorism as one certified by the Secretary of the Treasury, in consultation with the Secretary of Homeland Security and the Attorney General.
2. No act may be certified under TRIA unless the resulting property and casualty insurance losses, in the aggregate, exceed:
$5 million
TRIA Sec. 102(1)(B)(ii) bars certification if property and casualty losses from the act do not exceed $5,000,000 in the aggregate.
3. For losses in 2020 and later years, federal TRIA payments are made only if aggregate industry insured losses from certified acts exceed the program trigger of:
$200 million
TRIA Sec. 103(e)(1)(B) sets the program trigger at $200,000,000 for insured losses occurring in calendar year 2020 and thereafter.
4. Above an insurer's TRIA deductible, the federal share of certified terrorism losses is currently:
80 percent
TRIA Sec. 103(e)(1)(A) reduced the federal share by one point a year from 85 percent until it equals 80 percent of losses above the insurer deductible.
Practice: Other Property Insurance
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.
