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California Property and Casualty Insurance Exam. Top Questions and answers. Rated A
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California Property and Casualty Insurance Exam. Top Questions and answers. Rated A What is the required rate discount under a Good Driver Discount policy? - 20% below the rate the insured would have been otherwise charged for the same coverage All the following are authorized activities fo...

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  • February 3, 2023
  • 8
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

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  • california property and casualty insurance exam top questions and answers rated a what is the required rate discount under a good driver discount policy 20 below the rate the insured would ha

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California Property and Casualty
Insurance Exam. Top Questions and
answers. Rated A

What is the required rate discount under a Good Driver Discount policy? - ✔✔20% below the rate the
insured would have been otherwise charged for the same coverage



All the following are authorized activities for the Limited Automobile Insurance Agent EXCEPT if the
agent - ✔✔Charges and collects a brokers fee for service



What is the procedure for refusing uninsured motorist coverage in a liability policy? - ✔✔Prior to
issuance or renewal, the insured may state in writing that they do not want the coverage



How many classes of insurance are defined under California Insurance Law, including "miscellaneous"
and "reserved" - ✔✔There are a total of 20 classes of insurance defined under California Law, with many
sub-classes.



When can a person who sells real property require the use of a specific insurance agent, broker or
solicitor? - ✔✔A buyer is always able to choose their own insurance representative



All the following are requirements for determining an area that qualifies for Low Cost Automobile
Insurance EXCEPT - ✔✔The number of auto accidents that occur within the country



Which of the following describes a contract of reinsurance? - ✔✔The first insurer issues insurance to
compensate another insurer for losses on contracts issued by that second insurer



The managing General Agent negotiates and binds ceding Insurance on behalf of whom? - ✔✔The
insurer

, All of the following are duties of a Managing General Agent EXCEPT - ✔✔Delivering policies to the
insured



Who is able to place business through the California Automobile Assessed Risk Program? - ✔✔Only
agent/brokers licensed in fire and Casualty who have also been certified through CAARP



Can a lender, as a condition of making a loan, require that any insurance be placed through a particular
insurance agent or broker? - ✔✔The loan recipient may always select a particular agent or broker of
their choosing



All of the following apply to "Approved of Insurance Rates" EXCEPT - ✔✔A commissioner shall notify the
public of a rate change after it has been approved



Who must be able to inspect records of insurance transactions made availability by agent-brokers at any
time? - ✔✔The insurance commissioner



All the following conditions must be met before a surplus lines broker may place insurance with a
nonadmitted insurer EXCEPT - ✔✔That the rate for the places insurance must be the lowest optio



In conducting the business and affairs of the State Compensation Insurance Fund, the president of the
fund may do any of the following EXCEPT - ✔✔Sell life insurance covering compensation benefits



Which is an ACCURATE statement regarding the List of Approved Surplus Lines Insurers - ✔✔Eligible
carriers do not need to file documents with the California Department of Insurance



A personal lines licensed is an agent-broker who is able to transact coverage for all of the following
EXCEPT - ✔✔Personal aircraft



What is the maximum coverage allowed through the California Automobile Assigned Risk Program for
bodily injury and death? - ✔✔The max coverage per accident is limited to $30,000 of all persons as a
result of any one accident

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