Exam (elaborations)
PSI CA Property and Casualty Exam Questions with 100% Correct Answers
- Course
- Institution
PSI CA Property and Casualty Exam Questions with 100% Correct Answers
[Show more]
Content preview
PSI CA Property and Casualty ExamQuestions with 100% Correct Answers
Untrue statements on the application unintentionally made by insureds that , if
discovered , would alter the underwriting decision of the insurance company ,
are called
A. Common errors .
B. Material misrepresentations .
C. Fraudulent statements .
D. Warranties .
B. Material misrepresentations .
Which of the following policies will help an auto dealership cover most of
its liability exposures ?
A. A garage liability coverage
B. A businessowners policy
C. A motor carrier coverage form
D. A commercial general liability policy with a crime endorsement
A. A garage liability coverage
If an insured bakery is sued because its marketing states that the products
of another bakery may not be safe , which coverage of a commercial general
liability policy will defend the suit ?
A. Premises and operations
B. Product liability
,C. Completed operations
D. Personal and advertising injury liability
D. Personal and advertising injury liability
An apartment occupant's personal property would be insured under
which homeowners form ?
A. Tenant broad form ( HO - 4 )
B. Unit - owners form ( HO - 6 )
C. Broad form ( HO - 2 )
D. Comprehensive form ( HO - 5 )
A. Tenant broad form ( HO - 4 )
The process an insurer uses to evaluate applications and determine if a policy
should be issued and on what terms , conditions , and rates is known as
A. Coding .
B. Rating .
C. Acceptance .
D. Underwriting .
D. Underwriting .
The insured with a claims - made commercial general liability ( CGL ) policy
may request in writing claim and occurrence information from the insurer at
any time up to 60 days after the policy period ends . The insurer must provide
the information
A. Within 30 days .
B. As soon as practical .
C. Within 60 days .
D. Within 45 days .
D. Within 45 days .
When a Transportation Network Company arranges a ride for a customer ,
which of the following vehicles would be used ?
,A. A company vehicle
B. A driver's own vehicle
C. A taxi
D. A limousine
B. A driver's own vehicle
If a farm building or structure is vacant or unoccupied , which is true ?
A. If for 30 consecutive days , no coverage for vandalism and malicious mischief
, glass breakage , or theft .
B. If for 60 consecutive days , amount paid for covered losses is reduced by 15
%.
C. If for 60 consecutive days , no coverage for vandalism and malicious mischief
, glass breakage , or theft .
D. If for 120 consecutive days , the limits applicable to the building and
its contents are reduced by 50 % .
D. If for 120 consecutive days , the limits applicable to the building and
its contents are reduced by 50 % .
If an insured lives in a high - risk area and cannot find an insurer that will cover
a property , which of the following would most likely provide coverage ?
A. The FAIR Plan
B. The federal government
C. The NAIC
D. Nonadmitted high - risk insurers
A. The FAIR Plan
When a direct chain of events resulting from a negligent act causes injury or
damage , that act is considered to be
A. An intervening cause .
B. Strict liability .
, C. The proximate cause .
D. The direct cause .
C. The proximate cause
The removal coverage that is included in the broad form dwelling policy will
cover property temporarily removed from the premises to protect it from
damage for how long ?
A. 15 days
B. 60 days
C. 30 days
D. 5 days
C. 30 days
Under a homeowners policy , all of the following information must be
included in the insured's signed , sworn proof of loss EXCEPT
A. Other insurance on the property .
B. The time and cause of loss .
C. Interest of all insureds in the property .
D. Insured's income and net worth at the time of loss .
D. Insured's income and net worth at the time of loss .
Which of the following best defines an insurance policy ?
A. A written request to an insurance company for insurance coverage
B. A contract between an insured and an insurer that guarantees payment
for loss caused by a specific event .
C. An endorsement or a modifying provision
D. An agreement between an insurer and the Department of Insurance
B. A contract between an insured and an insurer that guarantees payment for
loss caused by a specific event .
Which of the following would most likely be accepted for coverage under the
FAIR Plan ?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Examsplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79373 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now