100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
PSI Practice Exam Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution $7.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. PSI
  4.  
  5. PSI
  6.  
  7. PSI

Exam (elaborations)

PSI Practice Exam Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

 3 views  0 purchase
  • Course
  • PSI
  • Institution
  • PSI

PSI Practice Exam Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

Preview 2 out of 9  pages

Document information

  • June 23, 2024
  • 9
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • psi practice exam questions with 100 actual corre

Written for

  • PSI
  • PSI
  • PSI
All documents for this subject (1082)

Seller

avatar-seller
Hkane

Reviews received

Content preview

PSI Practice Exam
charges and collects a broker's fee for service. - CORRECT ANSWER-All of the
following are authorized activities for the Limited Lines Automobile Insurance
Agent EXCEPT if the agent

The Managing General Agent - CORRECT ANSWER-Who is authorized to
adjust or pay claims in excess of an amount determined by the commissioner?

delivering policies to the insured - CORRECT ANSWER-All of the following are
duties of a Managing General Agent EXCEPT

The percentage of CAARP policies required is equal to the percentage of regular
insurance policies the insurer has issued within the State. - CORRECT
ANSWER-What is the method used for placing business with the California
Automobile Assigned Risk Program?

it remains valid until a policy has been delivered. - CORRECT ANSWER-All of
the following are TRUE In reference to an insurance binder EXCEPT

An annual payment has been received by the insurer. - CORRECT
ANSWER-Which condition is NOT required to be met for a surplus line broker to
advise any home state insured or applicant that coverage has been, or will be
obtained from a nonadmitted insurer?

30 days - CORRECT ANSWER-How many days prior to policy expiration is an
insurer required to mail a nonrenewal notice to the named insured?

$5,000 for medical services. - CORRECT ANSWER-All of the following are part
of the Minimum Liability Insurance Requirements for Private Passenger Vehicles
EXCEPT

Determine which claims are approved and which are denied. - CORRECT
ANSWER-Which is NOT a duty of the Workers Compensation Bureau?

, the broker-agent's financial status - CORRECT ANSWER-Which of the following
shall every property broker-agent and casualty broker-agent disclose prior to
arranging premium financing for the purchase of a policy?

personal aircraft. - CORRECT ANSWER-A personal lines licensee is an
agent-broker who is able to transact coverage for all of the following EXCEPT

that the rate for the placed insurance must be the lowest option. - CORRECT
ANSWER-All of the following conditions must be met before a surplus lines
broker may place insurance with a nonadmitted insurer EXCEPT

at the time of application or receipt of premium moneys - CORRECT
ANSWER-When shall a life agent, a property broker-agent or a casualty
broker-agent provide to all insureds or applicants the effective date of coverage?

when it is inadequate and excessive - CORRECT ANSWER-When can a rate be
denied by the Department?

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

to pay medical bills. - CORRECT ANSWER-All of the following are reasons
employers liability insurance is needed in addition to workers' compensation
insurance EXCEPT

sixty days - CORRECT ANSWER-How long after the expiration date may a
licensee who has met all the requirements to renew a license be allowed to
operate under the existing license?

when it is from the same insured for unpaid premiums on the same or any other
policy - CORRECT ANSWER-When may a property broker-agent, casualty
broker-agent or surplus lines agent offset funds due an insured for return
premiums?

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 Hkane. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.99
  • (0)
  Add to cart