CA Adjusters License PSI Questions and Answers Latest 2024

Other structures are excluded from coverage under the HO-3 when they are: Smaller than 100 square feet or larger than 1,000 square feet Smaller than 100 square feet or larger than 500 square feet Used for storage purposes Used for business purposes - CORRECT ANSWER-Used for business purposes is correct. EXPLANATION: When the other structures are used for business purposes they are not covered under the homeowner form. This structure and its contents could be covered under a commercial property policy. An exception would be a detached structure used to store business property of a non-flammable, non-gaseous nature. An insurance company must give how many days notice of cancellation for a vacancy of more than 60 days, when the government has ordered demolition, or when fixed items are being removed and not replaced? 5 21 10 30 - CORRECT ANSWER-5 is correct. EXPLANATION: The cancellation changes endorsement is the "mandatory endorsement" referred to in the question. In California, the endorsement must be included in every commercial property policy. It allows cancellation by the insurer with 5 days' notice for several reasons: vacancy or unoccupancy for 60 or more days; damages from a prior covered loss haven't been started; the government has ordered demolition or to vacate; fixed items are being removed and not replaced; and, utilities are shut off for 30 or more days, or property taxes are more than one year past due. Upon request made by the consumer, a person who procures an investigative consumer report