California Property and Casualty Comprehensive Exams Latest Bundle Deal Already Verified A

Property and Casualty Vocabulary Verified Solutions Abandonment The abdication of insured property into the hands of another, or into the possession of no one in particular. Absolute Liability some things are inherently so dangerous that liability is absolute or statutory, as in keeping a ti...

California Commercial Insurance Exam Graded A+ What is a Modular Policy? ️A modular policy is a policy consisting of several different documents, none of which by itself forms a complete contract. What is a Commercial Package Policy (CPP)? ️A Commercial Package Policy is a modular policy t...

Property & Casualty - Mike Russ Practice Test Verified Answers ___________ refers to continued coverage under the policy for an additional period of time upon expiration of the current policy period. A. Forfeiture B. Renewal C. Cancellation D. Lapse B. Renewal ___________ refers to p...

P+C practice test cards all answers correct Which type of protection can a casualty licensee offer in addition to protecting against loss or damage of property? They can provide coverage to protect against legal liability. The Managing General Agent negotiates and binds ceding insurance on be...

Exam Fx-Property and Casualty Exam Already Rated A+ To be considered an insurable risk, a loss may NOT be catastrophic Which of the following persons would be required to hold a producer license? a nonresident agent who negotiates insurance contracts Which of the following is the oldest know...

Property and Casualty Insurance Mastery Exam All Answers Correct An insured rents a car while on vacation in Canada and causes an accident. Is there coverage under his personal auto policy? The loss is covered under an unendorsed personal auto policy. Under the workers' compensation laws, whi...

California Personal Lines Broker Test Complete Solutions A-1. Insurance is a contract whereby one undertakes to indemnify another against: ️Damage A-2. A peril is: ️The actual cause of a loss. A-3. The uncertainty or chance of a loss occurring is known as: ️Risk A-4. Which are the main...

California Insurance Exam Verified Answers Two methods of determining insurance need: ️- Human Life Approach - Needs Approach Human Life Value Approach~ ️- One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a fa...

Personal lines Property & Casualty Already Graded A+ Risk ️Chance or Uncertainty of a Loss Peril ️Possible cause of a loss 2 Years ️The Commissioner of insurance is appointed by the governor for a term of ______ ending on February 1 of each odd-numbered year? 5 Years ️The Commissio...

Exam Fx (PROPERTY & CASUALTY) Rated A+ Law of Large Numbers ️The larger the number of people with a similar exposure to loss, the more predictable actual losses will be. Insurance ️Transfers the risk of loss from an individual or business entity to an insurance company The three elements...

Property and Casualty Practice PSI Exam Verified Solutions Employees are barred from suing employers in court to obtain compensation for injuries covered by workers' compensation because of which of the following doctrines? -Employer liability -Exclusive remedy -Workman liability -No fault insu...

Missed PSI Exam - Property & Casualty Verified Answers Federal Crop Insurance is a type of insurance sometimes called which one of the following? residual market insurance Homeowner Form HO-2 provides coverage for loss of appliances, carpeting, and other household furnishings for a maximum o...

Property and Casualty Insurance Licensing Exam Complete Solutions To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: An Other Insurance Clause Collision coverage of an auto policy covers: a) road damage to the tires b) upset of the vehicle c) fr...

CA Insurance License Graded A+ As used in this code the word "shall" is ️Mandatory (unless otherwise apparent) As used in this code the word "may" is ️permissive (unless otherwise apparent) "Oath" includes ️affirmation "Person" means ️person, association, organization, partne...

Property & Casualty Already Graded A+ Insurance ️The transfer of risk from insured to insurer. Indemnity ️To restore policy holder to pre-loss condition; make whole. - No better - no worse Law of Large Numbers ️▬Insurance companies take on many risks with a reasonable assurance of pa...

Property and Casualty Insurance Exam Prep Insurance the transfer of risk from one party to another Indemnity to restore to pre-loss condition. no better, no worse. Real Property permanent structures Personal Property moveable items Peril the cause of a loss Casualty Insurance non-propert...