Page 1 of 157
1
CALIFORNIA PROPERTY AND CASUALTY EXAM
ACTUAL EXAM AND 2 STUDY GUIDES 2024 REAL
QUESTIONS AND CORRECT ANSWERS AGRADE
CALIFORNIA PROPERTY AND CASUALTY EXAM ACTUAL EXAM
A newly acquired auto is to replace a covered auto that has liability coverage only. How long
will the insured have to request collision coverage on the new auto:
20 days 30 days 14 days
- days - ANSWER-4 days
Which of the following types of personal property would NOT be covered under a homeowners policy?
Pets Money Watercraft Jewelry - ANSWER-Pets
In a surety bond the party that pays the premium would be:
Bondsman Obligee 1 / 4
Page 2 of 157
2 Surety Principal - ANSWER-Principal
Things that increase the likelihood of a loss or the seriousness of a loss are called:
perils hazards risks open perils - ANSWER-hazards
In Boiler and Machinery Insurance a substantial portion of the premium is used for:
Inspection Agents Commission Advertising Claims Purposes - ANSWER-Inspection
A building that does not contain enough business property for conducting business is
considered vacant after:
60 days 30 days 45 days 2 / 4
Page 3 of 157
3 90 days - ANSWER-60 days
What covers merchandise being shipped across oceans?
Freight Coverage Cargo Coverage Ocean Marine Hull Coverage - ANSWER-Cargo Coverage
A natural person employed to aid an insurance agent or insurance broker in transacting
insurance other than life, disability, or health is an:
Insurance broker Insurance agent Insurance solicitor Insurance salesperson - ANSWER-Insurance solicitor
Risk Retention Groups are:
auto insurers owned by their drivers inland marine insurers owned by the Department of Insurance liability insurers owned by their policyholders life insurers owned by stockholders - ANSWER-liability insurers owned by their policyholders 3 / 4
Page 4 of 157
4
In addition to ISO a commercial crime program falls under Jurisdiction of:
National Association of Insurance Commissioners Internal Revenue Service Surety Association of America FBI - ANSWER-Surety Association of America A self-insured retention acts as a deductible and applies to claims covered by an umbrella policy, but excluded by an underlying policy in a personal umbrella. The S.I.R. ranges from $250
to:
$1,500
$1,000
$500
$750 - ANSWER-$1,000
A fiduciary is:
a person who has no financial responsibility whatsoever.a person who is in a position of financial trust.buys and sells used autos for a nominal fee.a person that handles cash in excess of $10,000 every month without any oversight. - ANSWER- a person who is in a position of financial trust.
- / 4