California Property and Causality Practice Exam
California Property and Causality
Practice Exam Questions Containing 75
terms & Definitions Latest Update 2024.
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 insurance representative.
, California Property and Causality Practice Exam
4.
When it is required by local municipal regulation.
Unless otherwise specified in the insurance contract, all of the following are TRUE
regarding return of premium EXCEPT
1.
the premium is forfeited if the policy is cancelled.
2.
the premium is refunded if a policy is rescinded or rejected.
3.
the whole premium is returned if the insurer has not been exposed to loss.
4.
any cancellation fees must be disclosed in writing within 5 days of the request to
cancel.
How may a license may be surrendered by the insuree, or terminated by the
employer?
1.
Phoning the insurance commissioner.
2.
Faxing a copy of the license to the insurance commissioner.
3.
Personally, delivering the license to the insurance commissioner, or by written
notice from the employer.
4.
, California Property and Causality Practice Exam
Presenting a petition to surrender the license to the insurance commissioner from
either the insuree or the employer. -
All of the following are to be specified in an insurance policy EXCEPT
1.
the financial rating of the insured.
2.
a statement of the expected premium.
3.
the parties between whom the contract is made.
4.
the period during which the insurance is to continue.
In the event of receiving notice of a claim or other claim communication, all of the
following timelines are accurate EXCEPT
1.
every licensee or claims agent shall transmit notice of the claim to the insurer in
no more than 5 calendar days.
2.
every licensee shall immediately, but in no more than 15 calendar days, furnish
them a complete response.
3.
every license or claims agent shall immediately transmit notice of claim to insurer.
4.
, California Property and Causality Practice Exam
every insurer shall within15 calendar days acknowledge receipt and provide to the
claimant the necessary forms.
What is the primary function of The California Automotive Assigned Risk Plan
(CAARP)?
1.
to serve as an insurer to provide automobile coverage for low income people
2.
to monitor the rates of automobile insurers to make sure the prices remain
competitive
3.
to put people who have trouble obtaining insurance in touch with insurers who
may be required by law to insure them
4.
to provide training for agents, and to determine which agents and automobile
insurers are able to place business through the program
Which of the following may be insured against?
1.
Disability.
2.
Accidental death.
3.
Wagering losses.
4.
California Property and Causality
Practice Exam Questions Containing 75
terms & Definitions Latest Update 2024.
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 insurance representative.
, California Property and Causality Practice Exam
4.
When it is required by local municipal regulation.
Unless otherwise specified in the insurance contract, all of the following are TRUE
regarding return of premium EXCEPT
1.
the premium is forfeited if the policy is cancelled.
2.
the premium is refunded if a policy is rescinded or rejected.
3.
the whole premium is returned if the insurer has not been exposed to loss.
4.
any cancellation fees must be disclosed in writing within 5 days of the request to
cancel.
How may a license may be surrendered by the insuree, or terminated by the
employer?
1.
Phoning the insurance commissioner.
2.
Faxing a copy of the license to the insurance commissioner.
3.
Personally, delivering the license to the insurance commissioner, or by written
notice from the employer.
4.
, California Property and Causality Practice Exam
Presenting a petition to surrender the license to the insurance commissioner from
either the insuree or the employer. -
All of the following are to be specified in an insurance policy EXCEPT
1.
the financial rating of the insured.
2.
a statement of the expected premium.
3.
the parties between whom the contract is made.
4.
the period during which the insurance is to continue.
In the event of receiving notice of a claim or other claim communication, all of the
following timelines are accurate EXCEPT
1.
every licensee or claims agent shall transmit notice of the claim to the insurer in
no more than 5 calendar days.
2.
every licensee shall immediately, but in no more than 15 calendar days, furnish
them a complete response.
3.
every license or claims agent shall immediately transmit notice of claim to insurer.
4.
, California Property and Causality Practice Exam
every insurer shall within15 calendar days acknowledge receipt and provide to the
claimant the necessary forms.
What is the primary function of The California Automotive Assigned Risk Plan
(CAARP)?
1.
to serve as an insurer to provide automobile coverage for low income people
2.
to monitor the rates of automobile insurers to make sure the prices remain
competitive
3.
to put people who have trouble obtaining insurance in touch with insurers who
may be required by law to insure them
4.
to provide training for agents, and to determine which agents and automobile
insurers are able to place business through the program
Which of the following may be insured against?
1.
Disability.
2.
Accidental death.
3.
Wagering losses.
4.
