SCPCIP South Carolina Property and Casualty Insurance Producer Exam - Set 5 - Part 3

Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 41: An architecture firm keeps original drawings, deeds, maps and manuscripts that would cost a great deal of money to recreate if fire or water ever destroyed them. Which commercial inland marine form pays the cost of replacing those damaged documents?

Accounts receivable coverage form

Contractors equipment floater

Trip transit policy

Valuable papers and records form

Question 42: A school district worries that the general contractor building its gymnasium may abandon the job halfway through, leaving the district to pay another firm to finish. Which contract bond is written to protect the district against exactly that loss?

Performance bond

Supply bond

License bond

Public official bond

Question 43: An owner accepts a finished warehouse but wants protection if defective workmanship or faulty materials show up during the two years that follow acceptance. Which bond is written to guarantee the contractor corrects such defects during that stated period?

Supply bond

Bid bond

Maintenance bond

Performance bond

Question 44: A dry cleaner's building burns and customer garments held for cleaning are destroyed, though the cleaner did nothing careless. Under one inland marine form the insurer pays those customers anyway. Which statement describes how that bailee's customer policy responds?

It pays only for proven negligence

It pays customers regardless of liability

It reimburses the bailee's lost profits

It pays the customers' liability insurers

Question 45: Ocean marine policies carry warranties that attach automatically even though they are never written into the contract. One of them requires the vessel to be properly constructed, maintained, crewed and equipped for the voyage. Which implied warranty imposes that obligation on the insured?

The warranty of seaworthiness

The warranty of legality

The warranty against deviation

The free of particular average clause

Question 46: A warehouse employee in Orangeburg is hurt when a delivery driver from an unrelated trucking company backs into him on the loading dock while both are working. Which of the following describes how the South Carolina exclusive remedy provision affects his ability to sue?

All suits from the injury are barred

He may sue his employer for negligence

He must choose benefits or any lawsuit

He may still sue the trucking company

Question 47: An owner of a beach cottage on Folly Island telephones the wind pool directly and asks it to issue essential property insurance to him without involving anyone else in the transaction. Which of the following conditions of qualification stands in his way?

Application must be approved by the Director

Application must come through a licensed producer

The property must be owner-occupied year round

The applicant must first be refused twice

Question 48: A producer checking whether a Charleston County risk sits inside the wind pool territory recalls Edisto, Kiawah, Folly and Seabrook Islands but suspects the statutory list is longer. Which of the following names the fifth Charleston County island the definition includes?

Morris Island

Daufuskie Island

Hilton Head Island

Fripp Island

Question 49: An injured Aiken poultry plant worker told his supervisor about the accident the same week but has never lodged anything with the state body that decides compensation disputes. Which of the following states the deadline and the recipient for filing his claim?

Ninety days, filed with his employer

Two years, filed with the Commission

One year, filed with the insurer

Six years, filed with the circuit court

Question 50: A Bishopville feed store owner reads the workers compensation exemption statute and notices that, alongside the headcount branch, a second branch turns on the size of the business payroll during the previous calendar year. Which of the following figures does that payroll branch use?

Three thousand dollars of annual payroll

Ten thousand dollars of annual payroll

Fifty thousand dollars of annual payroll

Five hundred dollars of annual payroll

Congratulations!

You have completed all 5 question sets. Good job!

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