California Real Estate Salesperson Exam Prep Pre-Test// Property and Casualty insurance exam//Property and Casualty Insurance EXAM//GA PROPERTY & CASUALTY TEST //Idaho Property & Casualty Exam Prep//california property and casualty exam//Property and casu

Specific insurance - Answer- This type of insurance designates a particular item to be insured Blanket insurance - Answer- This type of insurance covers more than one item of property at a single location or one more items of property at multiple locations. Speculative - Answer- possibility of...

PURE RISK - Answer- TYPE OF RISK WHICH INSURANCE COMPANIES WILL INSURE IS CALLED? RANDY, THE OWNER OF A SMALL BUSINESS APPLIED FOR FIRE INSURANCE WITH LIMITS EQUAL TO 100% of THE PROPERTY VALUE. HE HAD A HUGE UNSOLD INVENTORY AND A LARGE GAMBLING DEBT. THIS MIGHT INDICATE? - Answer- MORAL HAZARD ...

Which of the following statements is false with respect to requirements for rates? A) Rates may not be inadequate B) A purpose of the rate regulation is to diminish competition between insurers C) Rates may not be unfairly discriminatory D) A purpose of the rate regulation is to regulate coopera...

The process where by a mutul insurer becomes a stock company is called Demutalization The process whereby a stock company a mutal insurer is called Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is Valuation clause ...

Which of the following are the authorities that an agent can hold? - Answer- Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - Answer- Permanent partial disability Who is NOT considered an employee in an commercial genera...

PURE RISK - Answer- TYPE OF RISK WHICH INSURANCE COMPANIES WILL INSURE IS CALLED? RANDY, THE OWNER OF A SMALL BUSINESS APPLIED FOR FIRE INSURANCE WITH LIMITS EQUAL TO 100% of THE PROPERTY VALUE. HE HAD A HUGE UNSOLD INVENTORY AND A LARGE GAMBLING DEBT. THIS MIGHT INDICATE? - Answer- MORAL HAZARD ...

Bailee - Answer- An individual or organization who has taken into its care, custody, and/or control the property of another for servicing, repair, or storage Hazard - Answer- Something that increases the chance or likelihood of a loss occuring. (physical or moral or morale) Market Value - A...

the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - Answer- true which of the following coverages does an open peril policy provide? - Answer- perils other than those spe...

What are the two types of freehold estates? - Answer- 1) an estate in fee (simple absolute) 2) a life estate. What is the most complete, largest type of estate that includes all rights associated with the estate? - Answer- An estate in fee simple absolute What type of estate do you own if so...

How many baseline and meridian systems in CA? - Answer- 3 A resident of Nebraska who owns property in CA dies while in Vermont. The probate procedures for this property are in? - Answer- CA In the order in which they are to occur, the three steps of agency discosure are? - Answer- disclose, el...

Land - Answer- The physical property and any natural objects on it - like trees and bodies of water, often referred to as a "lot', "site", or "parcel". Real estate - Answer- generally refers to land with permanent manmade improvements. Real property - Answer- refers not only to the land ...

Which of the following is most vital or important in planning a subdivision: - Answer- Market Analysis When rent is computed on the gross sales of a business occupying real property, the lease is correctly termed: - Answer- Percentage Lease What is not an adequate method of transferring proper...

A property owner has an easement appurtenant on her property. One day the property is sold to another party who is opposed to the easement. Following the closing, this particular form of easement does what? - Answer- transfers with the owner to a new property. A property owner is precluded by dee...

A 'commercial acre' is best defined as - Answer- An acre after deductions for streets and alleys. A join tenancy can be created by deeds conveying undivided interest in which of the following? - Answer- (all of the following) By transfer from a wife deeding her seperate property to herself a...