California Personal Lines Insurance Exam: Key
NConcepts & Regulations Now Approved And
updated By Ace Market For Better Grades
Granteed Of (A+)
Q: What is a risk whose outcome could be loss or no loss, without the possibility of gain?
A: Pure Risk.



Q: Which item is not excluded under Coverage C of the Homeowners policy?
A: Television set.



Q: What is the relevant coverage for a recently leased car?
A: GAP (Guaranteed Automobile Protection).



Q: What authority is specifically granted to an agent?
A: Express Authority.



Q: What activity is not considered transacting insurance?
A: Inspection of Risks.



Q: What type of vehicles are not covered under a personal auto policy (PAP)?
A: Motor homes.



Q: What are the required financial responsibility limits for operating an automobile in
California?
A: 30,000/60,000/15,000.