PSI Exam Property and Casualty
|Questions with 100% Correct
Answers
Which circumstances in a pretext interview determine if the questions are
permissible? - ✔ ✔ When an insured is consulted by a person who hides his
true identify on purpose when fraud for a claim is suspected
Which of the following provision for free insurance offered as an incentive to
purchase or rent property is TRUE? - ✔ ✔ It requires a separate charge or fee
What is the punishment for a person who refuses to deliver books, records, or
assets to the commissioner when subject to a seizure order in an insolvency
proceeding? - ✔ ✔ Not more than a 1k fine and/or 1 year imprisonment
Which of the following is TRUE regarding nonadmitted insurers? - ✔ ✔ Acting as
an agent for a nonadmitted insurer is considered a misdemeanor
As used in the insurance code, the word "Shall" is mandatory and the word "may"
is permissive EXCEPT - ✔ ✔ Unless otherwise apparent from the context
, Which of the following is a party to a contract of insurance bound to
communicate EXCEPT - ✔ ✔ Those which the other would know by retaining
a consultant with specialized knowledge in insurance matters.
When may a representation be altered or withdrawn? - ✔ ✔ Before the
insurance is effected.
Which statement accurately describes de-mutualization - ✔ ✔ A mutual
insurance company that decides to convert to a stock company
All of the following are TRUE regarding the process to change the California Code
of Regulations EXCPT - ✔ ✔ The office of administrative law may substitute its
own judgement for that of the rulemaking agency
The Insurance Commissioner may deny an application for any license issued for
any of the following EXECPT - ✔ ✔ The applicant is lacking in good judgement
All of the following are to be specified in an insurance policy EXCEPT - ✔ ✔
The financial rating of the insured
Which statement describes the intent of the California Financial Information
Privacy Act? - ✔ ✔ It provides great privacy protections than those provided in
the federal gramm-leach-bliley act
Whether admitted or nonadmitted, how does a "foreign insurer differ from alien
or domestic? - ✔ ✔ A foreign insurer is organized under the laws of another
state within the US
|Questions with 100% Correct
Answers
Which circumstances in a pretext interview determine if the questions are
permissible? - ✔ ✔ When an insured is consulted by a person who hides his
true identify on purpose when fraud for a claim is suspected
Which of the following provision for free insurance offered as an incentive to
purchase or rent property is TRUE? - ✔ ✔ It requires a separate charge or fee
What is the punishment for a person who refuses to deliver books, records, or
assets to the commissioner when subject to a seizure order in an insolvency
proceeding? - ✔ ✔ Not more than a 1k fine and/or 1 year imprisonment
Which of the following is TRUE regarding nonadmitted insurers? - ✔ ✔ Acting as
an agent for a nonadmitted insurer is considered a misdemeanor
As used in the insurance code, the word "Shall" is mandatory and the word "may"
is permissive EXCEPT - ✔ ✔ Unless otherwise apparent from the context
, Which of the following is a party to a contract of insurance bound to
communicate EXCEPT - ✔ ✔ Those which the other would know by retaining
a consultant with specialized knowledge in insurance matters.
When may a representation be altered or withdrawn? - ✔ ✔ Before the
insurance is effected.
Which statement accurately describes de-mutualization - ✔ ✔ A mutual
insurance company that decides to convert to a stock company
All of the following are TRUE regarding the process to change the California Code
of Regulations EXCPT - ✔ ✔ The office of administrative law may substitute its
own judgement for that of the rulemaking agency
The Insurance Commissioner may deny an application for any license issued for
any of the following EXECPT - ✔ ✔ The applicant is lacking in good judgement
All of the following are to be specified in an insurance policy EXCEPT - ✔ ✔
The financial rating of the insured
Which statement describes the intent of the California Financial Information
Privacy Act? - ✔ ✔ It provides great privacy protections than those provided in
the federal gramm-leach-bliley act
Whether admitted or nonadmitted, how does a "foreign insurer differ from alien
or domestic? - ✔ ✔ A foreign insurer is organized under the laws of another
state within the US
