CA Property & Casualty Exam Questions and Answers 100% Pass

CA Property & Casualty Exam Questions and Answers 100% Pass Contributory Plan - Correct Answer ️️ -Used in a group Insurance. Employee and employers share in the paying of premiums DP-1,DP-2, DP-3 All 3 dwelling forms cover? - Correct Answer ️️ -Loss of rental income Comparative Negligence - Correct Answer ️️ -You can file a claim, but damages are reduced based on that party's negligence. What has a single limit? - Correct Answer ️️ -Property Damage. Ordinance or law - Correct Answer ️️ -An endorsement for building code upgrades. What is the penalty for not carrying the amount required in a co-insurance clause? - Correct Answer ️️ -You become a co-insurer and pay a portion of the loss. Retroactive date - Correct Answer ️️ -The first date an occurrence would be covered under a claim made CGL policy Blanket Insurance - Correct Answer ️️ -Used with large groups where the members change frequently and are not individually named: e.g. Schools, Campgrounds, Charitable groups. Symbol #7 - Correct Answer ️️ -Specifically described autos. Tort - Correct Answer ️️ -A wrongful act other than breach of contract or a crime. What does DP-1 Cover? - Correct Answer ️️ -Fire, Lighting, and internal explosion. Endorsement - Correct Answer ️️ -Written agreement attached to a policy to add or subtract insurance overages. Physical Hazard - Correct Answer ️️ -Distinct characteristic arising from material, structural, or operational features that increases a chance for loss (i.e being next to explosives.) What is excluded under CGL? - Correct Answer ️️ -Pollution. With the exception of fuel spilled during normal operations. Pollutions is normally covered under CPP policies or builders risk. Third party - Correct Answer ️️ -The injured party. To whom liability insurance pays claims. What does Hull cover? - Correct Answer ️️ -Covers ship, engine, fuel. Mexican liability endorsement - Correct Answer ️️ -Excess liability for accidents within 25 miles of the U.S. border (trips of 10 days or less) Workers Compensation Insurance. - Correct Answer ️️ -Insurance purchased by employers to cover their employees in case workers is hurt on the job. OTC Coverages - Correct Answer ️️ -Earthquake, Flood, Hail, Theft, Hitting an animal, Gunshots. (no collision or upset) 5 basic ways to deal with risk ( S.T.A.R.R.) - Correct Answer ️️ -Sharing,Transfer, Avoidance, Retention, Reduction Surplus Lines - Correct Answer ️️ -Found in property and casualty insurance. A surplus line broker places insurance with a non-admitted insurer