PSI CA Property and Casualty Practice
Examination {LATEST 2026 -2027 UPDATE}
QUESTIONS AND ANSWERS 100%
CORRECT
47 When shall a life agent, a property broker-agent or a casualty broker-agent provide
to all insureds or applicants the effective date of coverage? - correct answer at the
time of application or receipt of premium moneys
48 When may a surplus line broker solicit and place insurance for a home state
insured with a nonadmitted insurer? - correct answer If the same insurance coverage
cannot be procured from an admitted insurer
50 Who is legally capable to estimate the replacement value of a structure and discuss
homeowners policy coverage levels? - correct answer An insurer underwriter or
actuary
49 Which of the following shall every property broker-agent and casualty broker-agent
disclose prior to arranging premium financing for the purchase of a policy? - correct
answer the broker-agent's financial status
, 51 Unless otherwise specified in the insurance contract, all of the following are TRUE
regarding return of premium EXCEPT - correct answer EXCEPT the premium is
forfeited if the policy is cancelled
52 What criteria must a person meet in order to be qualified to purchase a Good Driver
Discount policy? - correct answer Being licensed to drive a motor vehicle for the
previous 3 years and has not had more than one violation point count as determined by
the CIC
53 When may a property broker-agent, casualty broker-agent or surplus lines agent
offset funds due an insured for return premiums? - correct answer when it is from the
same insured for unpaid premiums on the same or any other policy
54 Which is an INACCURATE statement regarding the non-standard coverage provide
by surplus line brokers? - correct answer They must provide notice to the
commissioner within 14 days of providing non-standard coverage for a home state
insured
55 According to CIC Section 1711, an organization ceases to exist as an entity eligible to
hold a license EXCEPT - correct answer EXCEPT upon the termination of all contracts
Examination {LATEST 2026 -2027 UPDATE}
QUESTIONS AND ANSWERS 100%
CORRECT
47 When shall a life agent, a property broker-agent or a casualty broker-agent provide
to all insureds or applicants the effective date of coverage? - correct answer at the
time of application or receipt of premium moneys
48 When may a surplus line broker solicit and place insurance for a home state
insured with a nonadmitted insurer? - correct answer If the same insurance coverage
cannot be procured from an admitted insurer
50 Who is legally capable to estimate the replacement value of a structure and discuss
homeowners policy coverage levels? - correct answer An insurer underwriter or
actuary
49 Which of the following shall every property broker-agent and casualty broker-agent
disclose prior to arranging premium financing for the purchase of a policy? - correct
answer the broker-agent's financial status
, 51 Unless otherwise specified in the insurance contract, all of the following are TRUE
regarding return of premium EXCEPT - correct answer EXCEPT the premium is
forfeited if the policy is cancelled
52 What criteria must a person meet in order to be qualified to purchase a Good Driver
Discount policy? - correct answer Being licensed to drive a motor vehicle for the
previous 3 years and has not had more than one violation point count as determined by
the CIC
53 When may a property broker-agent, casualty broker-agent or surplus lines agent
offset funds due an insured for return premiums? - correct answer when it is from the
same insured for unpaid premiums on the same or any other policy
54 Which is an INACCURATE statement regarding the non-standard coverage provide
by surplus line brokers? - correct answer They must provide notice to the
commissioner within 14 days of providing non-standard coverage for a home state
insured
55 According to CIC Section 1711, an organization ceases to exist as an entity eligible to
hold a license EXCEPT - correct answer EXCEPT upon the termination of all contracts
