Caarp - Study guides, Class notes & Summaries

PSI CA PROPERTY AND CASUALTY PRACTICE EXAMINATION WITH DETAILED ANSWERS What is the purpose of the experience modification system in the California workers' compensation experience rating system? - ANSWER-It expresses a particular company's loss or claims history as a percentage to all other companies in the industry Which form of negotiation is covered under the definition of "transact" as applied to insurance? - ANSWER-Negotiations preliminary to execution Which type of coverage...

All of the following conditions must be met before a surplus lines broker may place insurance with a non-admitted insurer EXCEPT - ANSWER That the rate for the placed insurance must be the lowest option. When can a person who sells real property require the use of a specific insurance agent, broker or solicitor? - ANSWER A buyer is always able to choose their own insurance representative. When is it possible for a commercial vehicle to be eligible for coverage under the California Automobi...

California Property and Casualty Insurance Exam Verified Answers 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 re...

What is the required rate discount under a Good Driver Discount policy? Ans: 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 Ans: Charges and collects a brokers fee for service What is the procedure for refusing uninsured motorist coverage in a liability policy? Ans: Prior to issuance or renewal, the insured may state in writing that they do n...

PSI CA Property and Casualty Practice//PSI CA Property and Casualty Practice Examination Exam 2023 Solved 100% 1 Can a lender, as a condition of making a loan, require that any insurance be placed through a particular insurance agent or broker? - ANSWER-The loan recipient may always select a particular agent or broker of their choosing 2 A claimant can be any of the following EXCEPT - ANSWER-EXCEPT a person who is conducting an investigation of a claim on behalf of an insure...

Property & Casualty License Exam (Review) All Answers Correct A "personal lines" agent or broker is allowed to transact what type of insurance coverage? ️Noncommercial automobile and residential property. All of the following are PRINCIPLE rating factors in determining automobile insurance premiums EXCEPT: ️The zip code where the vehicle is housed. What is the primary function of The California Automotive Assigned Risk Plan (CAARP)? ️To put people who have trouble obtaining i...

CA Property and Casualty Insurance Practice Exam A Pass Already Solved Which of the following is TRUE regarding who qualifies for coverage under the California Fair Access to Insurance Requirements plan? 1. Any person who is unable to obtain basic property insurance through normal channels. 2. Any person who qualifies will receive superior coverage to other forms of property insurance. 3. Any person who does NOT have an insurable interest in a property can participate in the FAIR pla...

PSI CA Property & Casualty Practice Examination 25 Questions and Correct Solutions 2024 1 Can a lender, as a condition of making a loan, require that any insurance be placed through a particular insurance agent or broker? - Answer -The loan recipient may always select a particular agent or broker of their choosing 2 A claimant can be any of the following EXCEPT - Answer -EXCEPT a person who is conducting an investigation of a claim on behalf of an insurer 3 All of the following are to be...

PSI CA Property and Casualty Practice Examination Questions and Answers 100% Correct 1 Can a lender, as a condition of making a loan, require that any insurance be placed through a particular insurance agent or broker? - Correct Answer ️️ -The loan recipient may always select a particular agent or broker of their choosing 2 A claimant can be any of the following EXCEPT - Correct Answer ️️ -EXCEPT a person who is conducting an investigation of a claim on behalf of an insurer 3 All ...

CA Property & Casualty Exam All Answers Correct Contributory Plan ️Used in a group Insurance. Employee and employers share in the paying of premiums DP-1,DP-2, DP-3 All 3 dwelling forms cover? ️Loss of rental income Comparative Negligence ️You can file a claim, but damages are reduced based on that party's negligence. What has a single limit? ️Property Damage. Ordinance or law ️An endorsement for building code upgrades. What is the penalty for not carrying the amount r...