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Personal Lines Exam Questions And Correct
Answers 2024-
Which of the following would be the most important factor when determining the rates and premiums of an auto policy? The applicant's driving record - Answer
$50,000 surety bond from a company licensed to do business in California - Answer California's Compulsory Financial Responsibility Law requires every driver and every owner of a motor vehicle to maintain financial responsibility (liability coverage) at all times. All of the following are acceptable forms of financial responsibility EXCEPT
18 months - Answer Anybody who claims that he or she meets the criteria based on a driver's license and driving experience acquired anywhere other than the Unified States of Canada is presumed to be qualified to purchase a Good Driver Discount policy. Provided that person has been licenses to drive in the United States or Canada and meets the criteria for that period for at least the previous
The authority is granted permission to transact insurance in this state as necessary to sell policies of basic residential earthquake insurance, and shall be allowed to see policies for any other line of insurance coverage. - Answer All of the following statements are TRUE regarding the California Earthquake Authority EXCEPT
Becomes part of your residential property insurance policy - Answer The California residential property disclosure statement serves the following purposes EXCEPT
5 days - Answer If an insured has an antique chair listed on his policy and he moves it to a storage unit during a house fire, how many days will the antique chair be covered at its new location under the Standard Fire Policy?
Only perils listed in the policy are covered - Answer The Standard Fire Policy is a named perils contract, which means
$5,000 - Answer Jack and Jill each own a 50% interest in a swelling that is insured under a standard fire policy issued to Jill to cover her interest in the structure. The amount of insurance is $40,000. Following is $10,000 fire loss to the structure, Jill will receive
Named peril policy - Answer The standard fire policy covers only those perils specified in the policy for that reason it is known as a
Manuscripts and bullion - Answer All of the following are excluded from coverage under a standard fire policy EXCEPT
Only agents licensed, who have an "earth movement certificate" through the department of insurance are able to sell residential property insurance that covers earth movements. -Answer The following are all TRUE statements regarding what an insurer must do in order to sell earth movement coverage in California EXCEPT
20% Answer The rate charged for a Good Driver Discount policy should be at least what percent below the rate insured would otherwise have been charged for the same coverage.
When the loss is to insured property that has be removed because of endangerment by a peril insured against under the policy - Answer Even though the Standard Fire Policy is a named peril contract, under which of the following circumstances would the policy provide "all risk of loss" coverage on insured property.
Four years - Answer California's Compulsory Financial Responsibility Law requires that every driver and every owner of a motor vehicle have financial responsibility (liability coverage) at all times. If you do not have acceptable financial responsibility and you have an accident you may lose your driver's license for up to
They must have had a valid license to operate a motor vehicle for the last 5 years - Answer Which of the following is NOT one of the eligibility requirements to purchase a Good Driver Discount policy?
