Study guides, Class notes & Summaries

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 ...

Property and Casualty Exam Questions and Answers 100% Pass Bailee - Correct Answer ️️ -An individual or organization who has taken into its care, custody, and/or control the property of another for servicing, repair, or storage Hazard - Correct Answer ️️ -Something that increases the chance or likelihood of a loss occuring. (physical or moral or morale) Market Value - Correct Answer ️️ -A property policy provision that changes the valuation method otherwise applicable (ACV or...

Property and Casualty Insurance EXAM Questions and Answers 100% Pass Specific insurance - Correct Answer ️️ -This type of insurance designates a particular item to be insured Blanket insurance - Correct Answer ️️ -This type of insurance covers more than one item of property at a single location or one more items of property at multiple locations. Speculative - Correct Answer ️️ -possibility of both gain and loss. Not insurable. Pure - Correct Answer ️️ -only the possibilit...

Property & Casualty - Mike Russ Practice Test 100% Correct Insurance broker means a person who, for compensation and on behalf of another person, transacts insurance other than life with, but not on behalf of, an insurer. True or False? - Correct Answer ️️ -False - An insurance broker is a specialist in insurance and risk management. Brokers act on behalf of their clients and provide advice in the interests of their clients. Transacting insurance includes: A. Execution of a contract ...

PSI Exam Property and Casualty Questions and Answers 100% pass All of the following are authorized activities for the limited lines automobile insurance agents EXCEPT if the agent - Correct Answer ️️ -Charges and collects a brokers fee for service Which of the following descries a contract of reinsurance? - Correct Answer ️️ -A first insurer issues insurance to compensate another insurer for losses on contracts issued by that second insurer A personal lines licensee is an agent-b...

Property and Casualty Insurance Test Question Notes with 100% Correct Answers What is a peril? - Correct Answer ️️ -A Peril is a cause of loss What is a hazard? - Correct Answer ️️ -Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? - Correct Answer ️️ -Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? - Correct Answer ️️ - Re...

Property & Casualty License Exam (Review) Questions and Answers 100% Correct A "personal lines" agent or broker is allowed to transact what type of insurance coverage? - Correct Answer ️️ -Noncommercial automobile and residential property. All of the following are PRINCIPLE rating factors in determining automobile insurance premiums EXCEPT: - Correct Answer ️️ -The zip code where the vehicle is housed. What is the primary function of The California Automotive Assigned Risk Plan ...

Property and Casualty Vocabulary Questions and Answers 100% Pass Abandonment - Correct Answer ️️ -The abdication of insured property into the hands of another, or into the possession of no one in particular. Absolute Liability - Correct Answer ️️ -some things are inherently so dangerous that liability is absolute or statutory, as in keeping a tiger as a pet, or keeping explosives in the home Accident - Correct Answer ️️ -anything that happens by chance without an apparent cau...

Exam Fx property and casualty Questions and Answers 100% Pass 1. In dwelling policies, automatic increase in insurance is (Choose from the following options) 1. Coverage for newly acquired property. 2. Coverage by endorsement. 3. Automatic coverage. 4. Coverage without additional premium. - Correct Answer ️️ -2. Coverage by endorsement. 2. Personal business property out in the open is covered under Commercial Property Policy only while (Choose from the following options) 1. Withi...