Personal Lines Broker-Agent Exam questions with answers

Personal Lines Broker-Agent Exam |\ |\ |\ |\




questions with answers |\ |\




What do we call the process whereby insurers decide which
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customer to insure and what coverage to offer? - CORRECT
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ANSWERS ✔✔Underwriting |\




The insured can do all of the following by adding an Other
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Structures-Increased limits endorsement to the homeowners |\ |\ |\ |\ |\ |\


policy EXCEPT? - CORRECT ANSWERS ✔✔Raise the coverage limit
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on one structure and delete coverage for others.
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The National Flood Insurance Program... - CORRECT ANSWERS
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✔✔May only be written by communities participating in the
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program.


Internet advertisements made by an agent or broker licensed in
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CA must provide all of the following information EXCEPT? -
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CORRECT ANSWERS ✔✔Expiration date of the license |\ |\ |\ |\ |\ |\




Which item of real property under HO-3 are valued on an actual
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cash value basis? - CORRECT ANSWERS ✔✔Built-in appliances
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Why would a boat owner insured with an HO-3 policy want to buy
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a Boatowners policy? - CORRECT ANSWERS ✔✔All true. To obtain
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liability, protection from uninsured boaters while out on the
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water, increase hull coverage on his boat because the
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homeowners policy coverage is extremely limited. |\ |\ |\ |\ |\

,Which causes of loss for provides the broadest coverage? -
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CORRECT ANSWERS ✔✔Special form |\ |\ |\




The system that makes automobile bodily injury and property
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damage liability insurance available to applicants who are unable
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to obtain coverage... - CORRECT ANSWERS ✔✔CAARP
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One purpose of California automobile assigned risk plan -
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CORRECT ANSWERS ✔✔To make automobile insurance available
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to residents of the state
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Which of the following losses would be covered under the
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personal auto policy other than collision coverage - CORRECT
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ANSWERS ✔✔Someone shoots the rear car window out while the
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insured's car is parked in the street overnight
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An umbrella policy provides? - CORRECT ANSWERS ✔✔Broad
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excess liability coverage over one or more primary policies
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Which of the following major sections of a policy are represented
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by the letters of DICE - CORRECT ANSWERS ✔✔Declarations,
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insuring agreement, conditions, exclusions
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An intentional omission of a material fact on the part of an
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insured that entitles the insurer to rescind the contract is? -
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CORRECT ANSWERS ✔✔Fraudulent concealment |\ |\ |\

, Making an insured whole by restoring them to the same condition
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as before a loss is an example of? - CORRECT ANSWERS ✔✔The
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principle of indemnity |\ |\




What is the difference between the per accident limit in a split
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limits policy and the single limits? - CORRECT ANSWERS ✔✔The
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per accident limit applies to all claims and the single limits
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applies only to bodily injuries.|\ |\ |\ |\




All of the following expenses are covered in addition to the limits
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of liability under Coverage A of personal auto policy EXCEPT? -
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CORRECT ANSWERS ✔✔Pre-Judgment interest |\ |\ |\




As defined in the California Insurance Code, "insurance" is a... -
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CORRECT ANSWERS ✔✔Contract |\ |\




What perils are included in a standard fire policy - CORRECT
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ANSWERS ✔✔Fire, lighting, and removal |\ |\ |\ |\




What percent of the homeowners policy coverage A-dwelling limit
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applies to coverage b-other structures? - CORRECT ANSWERS
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✔✔10%


A written provision that modifies the provisions of the original
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contract is known as? - CORRECT ANSWERS ✔✔An endorsement
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