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CA P&C Top Questions pool. (Accurately answered) graded A
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CA P&C Top Questions pool. (Accurately answered) graded A All of the following are true of reciprocal insurance company except: - -A reciprocal insurer is a corporation. What coverage is provided by coverage D of the dwelling policy? - -Fair rental value The coverage B limit is what pe...

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  • February 3, 2023
  • 41
  • 2022/2023
  • Exam (elaborations)
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  • ca pampc top questions pool accurately answered graded a all of the following are true of reciprocal insurance company except a reciprocal insurer is a corporation what coverage is provi

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CA P&C Top Questions pool. (Accurately
answered) graded A


All of the following are true of reciprocal insurance company except: - ✔✔-A reciprocal insurer is a
corporation.



What coverage is provided by coverage D of the dwelling policy? - ✔✔-Fair rental value



The coverage B limit is what percent of the coverage A limit? (Dwellings) - ✔✔-10%



Under coverage C of the special Dwelling form, all of the following are included, except: - ✔✔-Pets
belonging to the insured



Which is true of the special dwelling form - ✔✔-The special form insurance personal property on an
open perils basis



The dwelling broad form DP2 includes coverage for all of the following except - ✔✔-Accidental discharge
or overflow of water or stream for my heating or air conditioning system or household appliance



The California standard form fire policy has how many lines - ✔✔-158



In the event of a loss or no laws have been broken, the insured is required to all the following except -
✔✔-Notify the police



Which section of an insurance policy list the rules and procedures to be followed during the policy
period - ✔✔-Conditions

,All of the following are included in the declarations of a property policy except - ✔✔-The perils not
insured against



Which of the following is not a basis for loss valuation - ✔✔-Arbitration



Which of the following is correct about the rights of salvage - ✔✔-The insurer has the right to take
possession of damaged property after payment of a loss



What is the name of the attachment to a policy that broadens or restricts the policies coverage - ✔✔-
Endorsement



What is the term for condition existing inside the property that increases the risk of a loss - ✔✔-Inherent
vice



Which of the following is not specified by an insurance binder - ✔✔-The premium amount



Which statement is true about estoppel - ✔✔-Estoppel prevents the denial of the fact that was admitted
to be true by previous action



Which term describes a contract prepared by one party and submitted to the other party on a take it or
leave it basis without negotiation - ✔✔-Contract of adhesion



A peril is: - ✔✔-The specific cause of a loss



Dwelling forms do not ensure against loss caused by any of the following - ✔✔-Earth movement,
Ordinance or law, water damage, power failure



What coverage is not added to the policy by the Broad theft endorsement - ✔✔-Damage by robbers
because it is already included in the policy under the broad form

,Which coverage is provided by the personal liability - ✔✔-The supplement provides both medical
payments and personal liability



Is Fire damage to an insured residence is considered a direct loss? - ✔✔-Yes, A fire loss, including any
resulting smoke damage, or water damage incurred by the fire department in extinguishing the fire
would all be considered a direct loss.



Which statement is not true about FAIR plans?

A The perils covered are generally limited to fire, lightning and extended coverage

B They must accept all submitted risks

C They are state supervised plans run by the insurance industry

D Their purpose is to provide property insurance in high-risk areas - ✔✔-They must accept all submitted
risks



Which of the following is not an implied warranty in relation to Ocean Marine Insurance?

A Legality

B Full value

C No deviation in voyage

D Seaworthiness - ✔✔-Full value



Which of the following is not a covered peril under the Garage Form's Specified Causes of Loss property
damage coverage?

A Hail

B Wind

C Flood

D Repossession - ✔✔-D Repossession

The specified perils for Garage form PD are: fire, lightning, explosion, theft, mischief, windstorm, hail,
earthquake, flood, vandalism, or the sinking, burning, collision or derailment of any conveyance
transporting the covered auto.



California uses which type of rating plan for Workers' Compensation policies?

, A Experience

B Retrospective

C Manual

D Premium Discount - ✔✔-A Experience



Within what time period from the date of the injury must a medical expense be incurred in order for
coverage to apply under BOP liability? - ✔✔-Medical expenses for bodily injury caused by an accident on
the insured's premises or due to the insured's operations must have incurred within one year of the
date of the accident.



Which of the following describes actual cash value? - ✔✔-Replacement cost less depreciation



Which of the following are true about the Theft Inside The Premises insuring agreement?

A It covers loss to safes on the premises

B It covers money and securities outside the premises, while in the custody of an armored vehicle
company

C It covers money and securities outside the premises, when in the custody of a messenger

D It does not cover damage to the exterior of the premises - ✔✔-A It covers loss to safes on the
premises

Theft Inside the Premises covers money and securities only inside the premises; and it does cover
damage to the exterior of the premises.



The premium amount or method of determination if premium can only be calculated at the end of the
policy period for a CPP is located in the:

A Supplementary part

B Statements of coverage part

C Cover Page

D Consideration part - ✔✔-C Cover Page



Which statement is false?

A Insurer investigation expenses are in addition to the limits stated in Coverage E

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