CALIFORNIA PROPERTY AND CASUALTY
INSURANCE EXAM WITH ACTUAL CORRECT QUESTIONS
AND VERIFIED DETAILED RATIONALES ANSWERS
LATEST 2024-2025 NEWEST ALREADY GRADED A+
What is the required rate discount under a Good Driver Discount policy? CORRECT ANSWER
>>> 20% below the ratethe 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 underCalifornia 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 insuranceto 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
This study source was downloaded by 100000888206670 from CourseHero.com on 08-23-2024 03:38:51 GMT -05:00
https://www.coursehero.com/file/237360537/California-Property-and-Casualty-Insurance-Exampdf/
, 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
certifiedthrough 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 shallnotify 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 ofInsurance
A personal lines licensed is an agent-broker who is able to transact coverage for all of the
following EXCEPT CORRECT ANSWER >>> Personal aircraft
This study source was downloaded by 100000888206670 from CourseHero.com on 08 -23-2024 03:38:51 GMT -05:00
INSURANCE EXAM WITH ACTUAL CORRECT QUESTIONS
AND VERIFIED DETAILED RATIONALES ANSWERS
LATEST 2024-2025 NEWEST ALREADY GRADED A+
What is the required rate discount under a Good Driver Discount policy? CORRECT ANSWER
>>> 20% below the ratethe 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 underCalifornia 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 insuranceto 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
This study source was downloaded by 100000888206670 from CourseHero.com on 08-23-2024 03:38:51 GMT -05:00
https://www.coursehero.com/file/237360537/California-Property-and-Casualty-Insurance-Exampdf/
, 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
certifiedthrough 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 shallnotify 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 ofInsurance
A personal lines licensed is an agent-broker who is able to transact coverage for all of the
following EXCEPT CORRECT ANSWER >>> Personal aircraft
This study source was downloaded by 100000888206670 from CourseHero.com on 08 -23-2024 03:38:51 GMT -05:00
