PSI CA Property and Casualty Practice Examination questions with correct answers

1 Can a lender, as a condition of making a loan, require that any insurance be placed through a particular insurance agent or broker? CORRECT ANSWER The loan recipient may always select a particular agent or broker of their choosing 2 A claimant can be any of the following EXCEPT CORRECT ANSWER EXCEPT a person who is conducting an investigation of a claim on behalf of an insurer 3 All of the following are to be specified in an insurance policy EXCEPT CORRECT ANSWER EXCEPT the financial rating of the insured 4 Which of the following provisions of free insurance offered as an incentive to purchase or rent property is TRUE? CORRECT ANSWER It requires a separate charge or fee 5 What is the method used for placing business with the California Automobile Assigned Risk Program? CORRECT ANSWER The percentage of CAARP policies required is equal to the percentage of regular insurance policies the insurer has issued within the State 6 Whether admitted or nonadmitted, how does a "foreign" insurer differ from an "alien" or "domestic" insurer? CORRECT ANSWER A "foreign" insurer is organized under the laws of another state within the United States 7 All of the following are reasons employers liabili