Caa Sample Test Questions With Verified Solutions| Graded A+

An insured carries an unedorsed DP-3 dwelling policy on his home and personal contents. While traveling to Mexico, someone broke into his home and stole $200 in cash, a shotgun vauled at $1000 and other household items valued at $2000. There was also damage the home in the amount of $1500. Assuming that no deductible applies, how much will be paid on the claim? {Ans: $1500}A violatoin of sharing commision would be: A. sharing commision with a licensed producer B. no sharing commision with a licensed producer C. sharing commision or paying a finder's fee to an unlicensed person D. voluntarily reducing the commision rate on a commercial property policy {Ans: C. Sharing commision or paying a finder's fee to an unlicensed person.}When looking at liability insurance, policy limits that apply on limit to each person insured, another limit for bodily injury claims of all persons injured in a single acceident and a separate limit for all property damage arising out of asingle accident is: {Ans: Split limits}Which of the following is NOT a license granted by the Insurance Commisioner? A. Temp agent license B. Limited licenses C. Expert witness license D. Managing general agent license