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California Property and Causality Practice Exam(RATED A+)EXAM BUNDLE $44.89   Add to cart

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California Property and Causality Practice Exam(RATED A+)EXAM BUNDLE

Property and Casualty Insurance Basics Correct Questions & Answers!!! andProperty and Casualty Insurance Basics Correct Questions & AnsProperty and Casualty Insurance Basics Correct Questions & Answers!!!VVwers!!!Casualty Insurance Basics Correct Questions & Answers!!!

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CA Property and Casualty Insurance Practice Exam Correct 100%

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Which of the following is TRUE regarding who qualifies for coverage under the California Fair Access to Insurance Requirements plan? 1. Any person who is unable to obtain basic property insurance through normal channels. 2. Any person who qualifies will receive superior coverage to other forms...

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California Property and Casualty Exam Correct 100%

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Which of the following is incorrect? Part A covers long term care Part A covers hospital care Part B covers physicians Part B requires monthly premium payments - ANSWER Part A covers long term care Medical payments coverage under the personal auto policy applies for medical bills insure...

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California Property and Casualty Insurance Exam Correct 100%

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What is the required rate discount under a Good Driver Discount policy? - ANSWER 20% below the rate the insured would have been otherwise charged for the same coverage All the following are authorized activities for the Limited Automobile Insurance Agent EXCEPT if the agent - ANSWER Charges and c...

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CA property & Casualty practice exam Accurate 100%

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Bob is thinking about obtaining insurance because he just found out he needs extensive surgery that will require several days in the hospital. This situation of waiting until the last minute to obtain insurance is known as: - ANSWER Adverse Selection According to the California insurance law, eit...

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California Property and Causality Practice Exam(RATED A+)

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When can a person who sells real property require the use of a specific insurance agent, broker or solicitor? 1. As a condition precent to the sale of such real property. 2. When a buyer's credit score is below the lender's threshold. 3. A buyer is always able to choose their own insura...

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california property and casualty exam Accurate 100%

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

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Property & Casualty Practice EXAM Questions & Answers!!

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All the following are considered an insured under Part A liability coverage, of the personal auto policy EXCEPT! - ANSWER Employer while insured is driving a company car. A bank customer's identity was compromised and the thieves made numerous purchases from a retailer by signing the customer's...

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Property and Casualty- Auto Insurance 100% Correct

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Symbol 7 in a Business Auto policy refers to: - ANSWER Specifically described auto An individual who has Liability, Uninsured Motorist, Medical Payment and Other than Collision, falls asleep at the wheel and crashes into a flower shop. Damage to the shop would be covered by which of the following...

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Property and Casualty Insurance EXAM Correct 100%

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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 bo...

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Property and Casualty Exam 100% Correct!!!Property and Casualty Exam

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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 - ANS...

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Property and Casualty insurance exam Correct 100

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Insurance -ANSWER The transfer of risk through a legal contract Property -ANSWER Covers real property and personal property against damage or loss resulting from covered causes of loss called perils casualty -ANSWER covers non-property losses (3rd Party) Personal lines -ANSWER Insurance...

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Property and casualty insurance Exam Questions and Answers

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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 general ...

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Property and Casualty Insurance Basics Correct Questions & Answers!!!

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UNDERWRITING - ANSWER classifies the applicant based upon the underwriting requirements INSURABLE INTEREST - ANSWER an economic interest in a property that must exist at the time of loss (you can insure the equity interest in your own home) of the insurer; matches the risk presented with the prem...

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Property and Casualty Chapter 1 2024 Latest Update!!

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A chance or uncertainty of loss is called ___? - ANSWER Risk Gambling is an example of ____. - ANSWER Speculative risk Insurance will only cover ____ risks. - ANSWER Pure The transfer of risk from an individual or business to a professional risk taking company is called ____. - ANSWER Insur...

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Property and casualty Insurance Correct 100%

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Insurer - ANSWER the insurance company or carrier. Insured (Homeowners policy( - ANSWER 1. The named insured. 2. The named insured's spouse, if a resident. 3. Relatives of the named insured and anyone under age 21 in the insureds care. Like a foreign exchange student. 4. Full time studen...

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Property and Casualty Exam Correct 100%

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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 speci...

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Property and Casualty Insurance

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Acceleration Clause - ANSWER The part of a contract that says when a loan may be declared due and payable. Accidental Death Benefit - ANSWER In a life insurance policy, benefit in addition to the death benefit paid to the beneficiary, should death occur due to an accident. There can be certain ex...

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Property and Casualty Insurance 100% Correct!!

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An agent is a ____________ of the company, while the broker represents the __________ - ANSWER Legal representative, client The chance of loss or uncertainty of a loss - ANSWER Risk True or False: Promises made to a client by a broker are legally binding on the company. - ANSWER False The c...

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Property and Casualty Insurance Test Questions & Answers(RATED A+)

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What is a peril? - ANSWER A Peril is a cause of loss What is a hazard? - ANSWER Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? - ANSWER Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the meth...

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Virginia Property and Casualty Insurance 100%

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What is based on the principle of Risk Transfer - ANSWER Spreading the results of a financial loss among many persons, so the cost to any one person is small What kind of risk has an outcome that is uncertain? - ANSWER Speculative Risk What is the reason for a claim? - ANSWER A loss is the rea...

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PA property and casualty insurance exam Complete Questions & Solutions!!

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Property - ANSWER you can possess/ physically touch BI - ANSWER bodily injury PD - ANSWER Property damage Liability/casualty - ANSWER what you pay the other guy personal lines insurance - ANSWER cover needs of individual or family (auto,boat,camper,rv) commercial lines insurance - ANS...

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Property and Casualty Insurance Licensing Exam(RATED A+)

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To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: - ANSWER An Other Insurance Clause Collision coverage of an auto policy covers: a) road damage to the tires b) upset of the vehicle c) frozen engine block d) falling objects - ANSWER B) upset of the ...

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PA Property & Casualty License Practice Exam Completely Solved!!

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An exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of an earthquake, mudslide, landslide, or sinkhole. - ANSWER an Earth movement exclusion An exclusion that states that an insurer will not pay any claim in which an individuals ...

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MA Property and Casualty Insurance 100% Accurate

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Agreement - ANSWER The offer and acceptance Consideration - ANSWER Exchange of values (premium paid vs promise to pay claims) Legal purpose - ANSWER Contract cannot be enforced if based on illegal Unilateral - ANSWER Developed by one party Adhesion - ANSWER Drafted by insurer and accepte...

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