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California Commercial Insurance Exam Questions and Answers Rated A+ What is a Modular Policy? A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)? A Commercial Package Policy is a modular policy that combines different forms and more than one line of coverage. What must a CPP policy consist of? A Declaration Page (stating premium charges and coverage limits) A Policy Con...

California Commercial Insurance Exam Graded A+ What is a Modular Policy? ️A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)? ️A Commercial Package Policy is a modular policy that combines different forms and more than one line of coverage. What must a CPP policy consist of? ️A Declaration Page (stating premium charges and coverage limits) A Policy Conditions (six...

What is a Modular Policy? - ️️A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)? - ️️A Commercial Package Policy is a modular policy that combines different forms and more than one line of coverage. What must a CPP policy consist of? - ️️A Declaration Page (stating premium charges and coverage limits) A Policy Conditions (six conditions that apply to the entire co...

What is a Modular Policy? - ️️A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)? - ️️A Commercial Package Policy is a modular policy that combines different forms and more than one line of coverage. What must a CPP policy consist of? - ️️A Declaration Page (stating premium charges and coverage limits) A Policy Conditions (six conditions that apply to the entire co...

What is a Modular Policy? - A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)? - A Commercial Package Policy is a modular policy that combines different forms and more than one line of coverage. What must a CPP policy consist of? - A Declaration Page (stating premium charges and coverage limits) A Policy Conditions (six conditions that apply to the entire contract) Two or mor...

Which of the following is NOT covered by the Family and Medical Leave Act (FMLA) ?Traveling overseas with a spouse Which of the following acts is NOT a federal offense committed by an insurance agent?Misrepresentation on an insurance application The California Life and Health Insurance GuaranteeAssociation covers all of these types of policies except?Self-Funded Plans What effect did the Pregnancy Discrimination Act have on the health industry?Pregnancy must be treated as any other medica...

The term "Time element Coverage" is used when the amount of loss depends on what? The time it takes to repair, rebuild, or restore damaged property.The term time element coverage is used for many indirect losses, such as a business income loss, because the amount of loss might not be directly related to the amount of property damage that occurred, but it is related to the time it takes to repair,, rebuild, or restore the damaged property. Many factors can influence the ultimate loss, incl...

A special characteristic of the insurance contract where equal value is not exchanged between parties is known as - Aleatory Life insurance contracts are these agreements - Unilateral What is the proper definition of a take it or leave it contract, written by an insurer: - Adhesion The premium paid by the insured for an insurance policy is: - Consideration The best example of a Peril is: - Cause of loss An admitted insurer is: - Approved to transact An Actuary: - Works with statistics to ...

What is the required rate discount under a Good Driver Discount policy?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 agentCharges and collects a brokers fee for service What is the procedure for refusing uninsured motorist coverage in a liability policy?Prior to issuance or renewal, the insured may state in writing that they do not want the coverage ...