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CA ADJUSTERS LICENSE PSI EXAM ACTUAL EXAM COMPLETE QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) AND EXPLANATION / ALREADY GRADED A+£12.92
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10/8/24, 1:23 PM CA ADJUSTERS LICENSE PSI EXAM 2024-2025 ACTUAL EXAM COMPLETE QUESTIONS WITH DETAILED VERIFIED AN…
CA ADJUSTERS LICENSE PSI EXAM 2024-2025
ACTUAL EXAM COMPLETE QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS) AND EXPLANATION / ALREADY
GRADED A+
Terms in this set (115)
Other structures are Used for business purposes is correct.
excluded from coverage EXPLANATION:
under the HO-3 when When the other structures are used for business
they are: purposes they are not covered under the
homeowner form. This structure and its contents
Smaller than 100 square could be covered under a commercial property
feet or larger than 1,000 policy. An exception would be a detached structure
square feet used to store business property of a non-flammable,
Smaller than 100 square non-gaseous nature.
feet or larger than 500
square feet
Used for storage
purposes
Used for business
purposes
,10/8/24, 1:23 PM CA ADJUSTERS LICENSE PSI EXAM 2024-2025 ACTUAL EXAM COMPLETE QUESTIONS WITH DETAILED VERIFIED AN…
An insurance company 5 is correct.
must give how many days EXPLANATION:
notice of cancellation for The cancellation changes endorsement is the
a vacancy of more than "mandatory endorsement" referred to in the
60 days, when the question. In California, the endorsement must be
government has ordered included in every commercial property policy. It
demolition, or when fixed allows cancellation by the insurer with 5 days' notice
items are being removed for several reasons: vacancy or unoccupancy for 60
and not replaced? or more days; damages from a prior covered loss
haven't been started; the government has ordered
5 demolition or to vacate; fixed items are being
21 removed and not replaced; and, utilities are shut off
10 for 30 or more days, or property taxes are more
30 than one year past due.
Upon request made by In writing and mailed to the consumer within 5 days
the consumer, a person of the request..
who procures an EXPLANATION:
investigative consumer This disclosure must be made in writing and mailed
report on the consumer or otherwise delivered to the consumer no later
must make a complete than five days after the date on which the request
and accurate disclosure for the disclosure was received from the consumer.
to the consumer of the
nature of the report and
investigation within:
In writing and mailed to
the consumer within 30
days of the request.
In writing and mailed to
the consumer within 15
days of the request.
In writing and mailed to
the consumer within 10
days of the request.
In writing and mailed to
the consumer within 5
days of the request.
,10/8/24, 1:23 PM CA ADJUSTERS LICENSE PSI EXAM 2024-2025 ACTUAL EXAM COMPLETE QUESTIONS WITH DETAILED VERIFIED AN…
The insured has primary The correct answer is: The insured was sued for
bodily injury and $10,000 in bodily injury damages.
property damage liability
coverage with a $100,000 EXPLANATION:
limit, and a $1 million The claim would fall under the underlying coverage
umbrella liability policy and not the umbrella because the underlying
with a $5,000 self-insured coverage has sufficient limits in place.
retention limit. In which
one of the following Question 5 of 100
situations would the
insured's umbrella liability
policy typically not
provide defense
coverage?
Answer Choices: Select
the Correct Answer
Five people sued the
insured for property
damage arising out of
one occurrence. One of
the cases was settled out
of court for $100,000.
The insured was sued for
$150,000 in personal
injury damages.
The insured was sued for
$10,000 in bodily injury
damages.
The umbrella liability
policy would provide a
defense in all three cases.
, 10/8/24, 1:23 PM CA ADJUSTERS LICENSE PSI EXAM 2024-2025 ACTUAL EXAM COMPLETE QUESTIONS WITH DETAILED VERIFIED AN…
The BAP liability The escape of pollutants caused by damage to the
exclusion pertaining to property containing them when the damage results
pollution removes from the use of a covered auto. is correct.
coverage for each of the EXPLANATION:
following, except: If the insured's vehicle causes an accident with
Answer Choices: Select another vehicle or other property (owned by a third
the Correct Answer party) containing the pollutants, the loss is covered.
The cost of
governmentally ordered
clean-up of pollutants.
The escape of pollutants
while being transported
by a covered auto.
The escape of pollutants
caused by damage to the
property containing them
when the damage results
from the use of a
covered auto.
The escape of pollutants
before they are accepted
by the insured for
movement onto a
covered auto.
Which of the following The correct answer is: Glass breakage.
would not be covered EXPLANATION:
under the specified The specified cause of loss form covers the
cause of loss physical following perils: fire, lighting, explosion, theft,
damage coverage under windstorm, hail, earthquake, flood, vandalism or
the commercial auto mischief, transportation by a conveyance. The
form? coverage does not include glass breakage, hitting a
bird or animal nor falling objects or missiles.
Glass breakage
Fire
Lightning
Flood
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