CA Personal Lines Exam 5 with answers
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What gives an insured party the right to seek compensation if it
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is proven that another person with negligence contributed to the
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injury? - CORRECT ANSWERS ✔✔Tort law.
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Who do surplus lines brokers conduct business with? - CORRECT
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ANSWERS ✔✔Transact business only with non-admitted insurers.
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What is an insurer's option when making a loss settlement with
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the insured under a personal auto policy? - CORRECT ANSWERS
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✔✔Return stolen property to the address show in the policy.
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What steps need to be taken to terminate a licensee's license
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that is in the possession of an employer? - CORRECT ANSWERS
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✔✔The licensee needs to give written notice of intent to the
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insurance commissioner. |\
What will happen when an agent's appointment to an insurance
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company is terminated and the agent has no other appointments
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with any other insurance company? - CORRECT ANSWERS
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✔✔The agent's permanent license becomes inactive.
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What is covered by a building and personal property coverage
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form (BPP)? - CORRECT ANSWERS ✔✔A light pole.
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, A physician may have misdiagnosed a patient for terminal
|\ |\ |\ |\ |\ |\ |\ |\ |\
cancer. What type of insurance would protect the physician for
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
this type of mistake? - CORRECT ANSWERS ✔✔Professional
|\ |\ |\ |\ |\ |\ |\ |\
liability.
What is one of the principle rating factors under Proposition 1-3
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
allowed for personal auto policies? - CORRECT ANSWERS
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✔✔Safety driving record. |\ |\
What coverage is available under the named non-owner
|\ |\ |\ |\ |\ |\ |\ |\
coverage endorsement? - CORRECT ANSWERS ✔✔Liability,
|\ |\ |\ |\ |\ |\
medical payments, and uninsured motorist.
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What would be a compensation considered special damages? -
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CORRECT ANSWERS ✔✔Compensation for time away from work.
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All of the following are mandatory coverage's of a business
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owner's policy: - CORRECT ANSWERS ✔✔- Extra expense
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coverage
- Building coverage
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- Business income coverage
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An agent who diverts premium dollars for the agent's own use is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
guilty of what? - CORRECT ANSWERS ✔✔Theft.
|\ |\ |\ |\ |\ |\
Every admitted insurer in the state of California is required to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
maintain a unit or division to investigate what? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Possible fraudulent claims made by the insured's.
|\ |\ |\ |\ |\ |\ |\
|\ |\ |\ |\ |\ |\
What gives an insured party the right to seek compensation if it
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
is proven that another person with negligence contributed to the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
injury? - CORRECT ANSWERS ✔✔Tort law.
|\ |\ |\ |\ |\
Who do surplus lines brokers conduct business with? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Transact business only with non-admitted insurers.
|\ |\ |\ |\ |\ |\
What is an insurer's option when making a loss settlement with
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the insured under a personal auto policy? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔Return stolen property to the address show in the policy.
|\ |\ |\ |\ |\ |\ |\ |\ |\
What steps need to be taken to terminate a licensee's license
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
that is in the possession of an employer? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔The licensee needs to give written notice of intent to the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
insurance commissioner. |\
What will happen when an agent's appointment to an insurance
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
company is terminated and the agent has no other appointments
|\ |\ |\ |\ |\ |\ |\ |\ |\
with any other insurance company? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔The agent's permanent license becomes inactive.
|\ |\ |\ |\ |\
What is covered by a building and personal property coverage
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
form (BPP)? - CORRECT ANSWERS ✔✔A light pole.
|\ |\ |\ |\ |\ |\ |\
, A physician may have misdiagnosed a patient for terminal
|\ |\ |\ |\ |\ |\ |\ |\ |\
cancer. What type of insurance would protect the physician for
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
this type of mistake? - CORRECT ANSWERS ✔✔Professional
|\ |\ |\ |\ |\ |\ |\ |\
liability.
What is one of the principle rating factors under Proposition 1-3
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
allowed for personal auto policies? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔Safety driving record. |\ |\
What coverage is available under the named non-owner
|\ |\ |\ |\ |\ |\ |\ |\
coverage endorsement? - CORRECT ANSWERS ✔✔Liability,
|\ |\ |\ |\ |\ |\
medical payments, and uninsured motorist.
|\ |\ |\ |\
What would be a compensation considered special damages? -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Compensation for time away from work.
|\ |\ |\ |\ |\ |\ |\
All of the following are mandatory coverage's of a business
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
owner's policy: - CORRECT ANSWERS ✔✔- Extra expense
|\ |\ |\ |\ |\ |\ |\ |\
coverage
- Building coverage
|\ |\
- Business income coverage
|\ |\ |\
An agent who diverts premium dollars for the agent's own use is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
guilty of what? - CORRECT ANSWERS ✔✔Theft.
|\ |\ |\ |\ |\ |\
Every admitted insurer in the state of California is required to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
maintain a unit or division to investigate what? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Possible fraudulent claims made by the insured's.
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