PSI PRACTICE EXAM PERSONAL LINES BROKER-AGENT 60 QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A

WHEN AN AGENT TRIES TO CONVINCE A POLICYHOLDER TO REPLACE AN EXISTING POLICY TO BUY ANOTHER ONE, WHAT ARE THEY PRACTICING? - CORRECT ANSWER-MISREPRESENTATION WHICH OF THE FOLLOWING IS A FORM OF INSURANCE COMPANY ORGANIZATION THAT CONSISTS OF MEMBERS WHO SHARE LOSSES WITH EACH OTHER? - CORRECT ANSWER-RECIPROCAL WHAT POLICY PROVISION SPECIFIES A CERTAIN VALUE THAT WILL MEET THE COINSURANCE REQUIREMENT? - CORRECT ANSWER-AGREED VALUE ALL OF THE FOLLOWING ARE CORRECT FOR EXCESS LINES CARRIERS EXCEPT - CORRECT ANSWER-THEY OFFER BETTER CONTRACTS AT LOWER RATES. HOW MANY BUSINESS DAYS DOES A BUSINESS HAVE TO HONOR A REQUESTED EMAIL OPT-OUT ACCORDING TO THE 2003 CAN-SPAM, ACT? - CORRECT ANSWER-10 WHICH OF THE FOLLOWING IS ONE OF THE OBJECTIVES OF THE TERRORISM RISK INSURANCE ACT OF 2002? - CORRECT ANSWER-IT LIMITS THE EXPOSURE OF INDIVIDUAL INSURERS AND THE INSURANCE INDUSTRY AS A WHOLE. ALL OF THE FOLLOWING ARE EXAMPLES OF CONDUCT OF AN AGENT THAT IS REGULATED BY DEPARTMENT OF INSURANCE EXCEPT - CORRECT ANSWER-MISAPPROPRIATION OR CONVERSION OF FUNDS BY AN INSURANCE AGENT THE GRAMM-LEACH