California Property and Casualty Insurance Exam Questions and Answers 100% Pass

California Property and Casualty Insurance Exam Questions and Answers 100% Pass What is the required rate discount under a Good Driver Discount policy? - Correct 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 - Correct Answer ️️ -Charges and collects a brokers fee for service What is the procedure for refusing uninsured motorist coverage in a liability policy? - Correct Answer ️️ -Prior to issuance or renewal, the insured may state in writing that they do not want the coverage How many classes of insurance are defined under California Insurance Law, including "miscellaneous" and "reserved" - Correct Answer ️️ -There are a total of 20 classes of insurance defined under California Law, with many sub-classes. When can a person who sells real property require the use of a specific insurance agent, broker or solicitor? - Correct Answer ️️ -A buyer is always able to choose their own insurance representative All the following are requirements for determining an area that qualifies for Low Cost Automobile Insurance EXCEPT - Correct Answer ️️ -The number of auto accidents that occur within the country Which of the following describes a contract of reinsurance? - Correct Answer ️️ -The first insurer issues insurance to compensate another insurer for losses on contracts issued by that second insurer The managing General Agent negotiates and binds ceding Insurance on behalf of whom? - Correct Answer ️️ -The insurer All of the following are duties of a Managing General Agent EXCEPT - Correct Answer ️️ -Delivering policies to the insured Who is able to place business through the California Automobile Assessed Risk Program? - Correct Answer ️️ -Only agent/brokers licensed in fire and Casualty who have also been certified through CAARP Can a lender, as a condition of making a loan, require that any insurance be placed through a particular insurance agent or broker? - Correct Answer ️️ -The loan recipient may always select a particular agent or broker of their choosing All of the following apply to "Approved of Insurance Rates" EXCEPT - Correct Answer ️️ -A commissioner shall notify the public of a rate change after it has been approved Who must be able to inspect records of insurance transactions made availability by agent-brokers at any time? - Correct Answer ️️ -The insurance commissioner All the following conditions must be met before a surplus lines broker may place insurance with a nonadmitted insurer EXCEPT - Correct Answer ️️ -That the rate for the places insurance must be the lowest optio In conducting the business and affairs of the State Compensation Insurance Fund, the president of the fund may do any of the following EXCEPT - Correct Answer ️️ -Sell life insurance covering compensation benefits Which is an ACCURATE statement regarding the List of Approved Surplus Lines Insurers - Correct Answer ️️ -Eligible carriers do not need to file documents with the California Department of Insurance A personal lines licensed is an agent-broker who is able to transact coverage for all of the following EXCEPT - Correct Answer ️️ -Personal aircraft What is the maximum coverage allowed through the California Automobile Assigned Risk Program for bodily injury and death? - Correct Answer ️️ -The max coverage per accident is limited to $30,000 of all persons as a result of any one accident What is the method used for placing business with the California Automobile Assigned Risk Program? - Correct Answer ️️ -The percentage of CAARP policies requires is equal to the percentage of regular insurance policies the insurer has issued within the state How many days prior to policy expiration is an insurer requires to mail a n