P+C practice test questions and answers 100% score

P+C practice test questions and answers 100% score Which type of protection can a casualty licensee offer in addition to protecting against loss or damage of property? - Correct Answer ️️ -They can provide coverage to protect against legal liability. The Managing General Agent negotiates and binds ceding insurance on behalf of whom? - Correct Answer ️️ -The insurer Who is able to place business through the California Automobile Assessed Risk Program? - Correct Answer ️️ -only agent/brokers licensed in fire and casualty who have also been certified through CAARP. (CAARP was designed to assist licensed resident drivers unable to secure auto insurance through the preferred companies due to a their driving history. Most household name brand companies must participate to satisfy state insurance mandates. The CA auto insurance Assigned Risk or CA High Risk Automobile Insurance often charges higher rates in your state, and is a last resort for licensed drivers that cannot obtain car insurance coverage elsewhere in the California preferred or voluntary automobile insurance marketplace) 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. All of the following are taken into consideration for California Automobile Assigned Risk Program eligibility for applicants EXCEPT - Correct Answer ️️ -the education of the applicant. Who must be able to inspect records of insurance transactions made available by agent-brokers at any time? - Correct Answer ️️ -the insurance commissioner All of the following are PRINCIPAL rating factors in determining automobile insurance premiums EXCEPT - Correct Answer ️️ -the zip code where the vehicle is housed. Where must the address be printed for the principal office that is required for every broker agent and resident insurance casualty broker-agent? - Correct Answer ️️ - applications for license and renewals All of the following are reasons employers liability insurance is needed in addition to workers' compensation insurance EXCEPT - Correct Answer ️️ -to pay medical bills. When can a person who sells real property require the use of a specific insurance agent, broker or solicitor? - Correct Answer ️️ -A buyer is always able to choose their own insurance representative. 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. All of the following are designated as private passenger vehicles EXCEPT - Correct Answer ️️ -a four wheel vehicle used as a taxi by an individual and not a company. What is the required rate discount under a Good Driver Discount policy? - Correct Answer ️️ -20% below the rate the insured would have been otherwise charged for the same coverage. To which person or organization does a public insurance adjuster promote and represent? - Correct Answer ️️ -the insured Which of the following is TRUE regarding the application and renewal of the limited lines automobile insurance agent license? - Correct Answer ️️ -The fees and process are the same as for a personal lines licensee. When is it possible for a commercial vehicle to be eligible for coverage under the California Automobile Assigned Risk Program? - Correct Answer ️️ -if it is a privately owned lightweight commercial vehicle used for local service or retail deliveries within a specific geographic area All of the following apply to "Approval of Insurance Rates" EXCEPT - Correct Answer ️️ -the commissioner shall notify the public of a rate change after it has been approved. What must an individual do in order to act as an agent for a business entity or insurer offering limited lines automobile coverage? - Correct Answer ️️ -file a notice of appointment with the commissioner Which is NOT a duty of the Workers Compensation Bureau? - Correct Answer ️️ - Determine which claims are approved and which are denied. What possible consequences are faced from the insurance commissioner by an agent or broker who does not within 60 days comply with an order to establish and complete records? - Correct Answer ️️ -a suspension or revocation of license What is the procedure for refusing uninsured motorist coverage in a liability policy? - Correct Answer ️️ -Prior to issuance or renewal, the insured may state in writing that they do not want the coverage. All of the following are requirements for determining an area that qualifies for Low Cost Automobile Insurance EXCEPT - Correct Answer ️️ -the nu