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PSI CA Property and Casualty Exam Questions with 100% Correct Answers
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PSI CA Property and Casualty Exam Questions with 100% Correct Answers
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PSI CA Property and Casualty ExamQuestions with 100% Correct Answers
Untrue statements on the application unintentionally made by insureds that , if
discovered , would alter the underwriting decision of the insurance company ,
are called
A. Common errors .
B. Material misrepresentations .
C. Fraudulent statements .
D. Warranties .
B. Material misrepresentations .
Which of the following policies will help an auto dealership cover most of
its liability exposures ?
A. A garage liability coverage
B. A businessowners policy
C. A motor carrier coverage form
D. A commercial general liability policy with a crime endorsement
A. A garage liability coverage
If an insured bakery is sued because its marketing states that the products
of another bakery may not be safe , which coverage of a commercial general
liability policy will defend the suit ?
A. Premises and operations
B. Product liability
,C. Completed operations
D. Personal and advertising injury liability
D. Personal and advertising injury liability
An apartment occupant's personal property would be insured under
which homeowners form ?
A. Tenant broad form ( HO - 4 )
B. Unit - owners form ( HO - 6 )
C. Broad form ( HO - 2 )
D. Comprehensive form ( HO - 5 )
A. Tenant broad form ( HO - 4 )
The process an insurer uses to evaluate applications and determine if a policy
should be issued and on what terms , conditions , and rates is known as
A. Coding .
B. Rating .
C. Acceptance .
D. Underwriting .
D. Underwriting .
The insured with a claims - made commercial general liability ( CGL ) policy
may request in writing claim and occurrence information from the insurer at
any time up to 60 days after the policy period ends . The insurer must provide
the information
A. Within 30 days .
B. As soon as practical .
C. Within 60 days .
D. Within 45 days .
D. Within 45 days .
When a Transportation Network Company arranges a ride for a customer ,
which of the following vehicles would be used ?
,A. A company vehicle
B. A driver's own vehicle
C. A taxi
D. A limousine
B. A driver's own vehicle
If a farm building or structure is vacant or unoccupied , which is true ?
A. If for 30 consecutive days , no coverage for vandalism and malicious mischief
, glass breakage , or theft .
B. If for 60 consecutive days , amount paid for covered losses is reduced by 15
%.
C. If for 60 consecutive days , no coverage for vandalism and malicious mischief
, glass breakage , or theft .
D. If for 120 consecutive days , the limits applicable to the building and
its contents are reduced by 50 % .
D. If for 120 consecutive days , the limits applicable to the building and
its contents are reduced by 50 % .
If an insured lives in a high - risk area and cannot find an insurer that will cover
a property , which of the following would most likely provide coverage ?
A. The FAIR Plan
B. The federal government
C. The NAIC
D. Nonadmitted high - risk insurers
A. The FAIR Plan
When a direct chain of events resulting from a negligent act causes injury or
damage , that act is considered to be
A. An intervening cause .
B. Strict liability .
, C. The proximate cause .
D. The direct cause .
C. The proximate cause
The removal coverage that is included in the broad form dwelling policy will
cover property temporarily removed from the premises to protect it from
damage for how long ?
A. 15 days
B. 60 days
C. 30 days
D. 5 days
C. 30 days
Under a homeowners policy , all of the following information must be
included in the insured's signed , sworn proof of loss EXCEPT
A. Other insurance on the property .
B. The time and cause of loss .
C. Interest of all insureds in the property .
D. Insured's income and net worth at the time of loss .
D. Insured's income and net worth at the time of loss .
Which of the following best defines an insurance policy ?
A. A written request to an insurance company for insurance coverage
B. A contract between an insured and an insurer that guarantees payment
for loss caused by a specific event .
C. An endorsement or a modifying provision
D. An agreement between an insurer and the Department of Insurance
B. A contract between an insured and an insurer that guarantees payment for
loss caused by a specific event .
Which of the following would most likely be accepted for coverage under the
FAIR Plan ?
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