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CALIFORNIA PROPERTY AND CASUALTY
INSURANCE EXAM 2024 QUESTIONS AND
CORRECT ANSWERS AGRADE
What is the maximum coverage allowed through the California Automobile Assigned Risk Program for bodily injury and death? - ANSWER-The max coverage per accident is limited to $30,000 of all persons as a result of any one accident
What is the method used for placing business with the California Automobile Assigned Risk Program? - ANSWER-The percentage of CAARP policies requires is equal to the percentage of regular insurance policies the insurer has issued within the state
How many days prior to policy expiration is an insurer requires to mail a non renewal notice to the named insured? - ANSWER-30 days
All of the following are permissible reasons for a consumer reporting agency to furnish motor vehicle, past claims, or credit reports EXCEPT - ANSWER-A request of a national news organization for an investigative story
What must an individual do in order to act as an agent for a business entity or insurer offering limited lines automobile coverage? - ANSWER-File a notice of appointment with the commissioner
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2 What possible consequences are faced from the insurance commissioner by an agent or broker who does not within 60 days comply with an order to establish and complete records? - ANSWER-A suspension or revocation of license
To which person or organization does a public insurance adjuster promote and represent? - ANSWER-The insured
Under the California Vehicle Code all of the following are acceptable to satisfy the Financial Responsibility requirement EXCEPt - ANSWER-A company with an escrow account that is licensed to do business in California
All the following are taken into consideration for California Automobile Assigned Risk Program eligibility for applicants EXCEPT - ANSWER-The education of the applicant
Where must the address be printed for the principal office that is required for every broker agent and resident insurance casualty broker-agent? - ANSWER-Applicants for license and renewals
What is the coverage limit offered by the California Earthquake Authority for condominiums? - ANSWER-The coverage is limited to $25,000 if the value is $135,000 or less, and $50,000 is the value is over $135,000
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