Ca P And C Insurance Practice Questions Pdf

What is the purpose of the California Fair Access to Insurance Requirements program? 1. to provide superior coverage for California property owners 2. to ensure comparable rates between insurance companies 3. to manage taxpayer monies set aside to subsidize insurance for the poor 4. to help property owners who are unable to obtain coverage through the private sector on their own {Ans: 4. to help property owners who are unable to obtain coverage through the private sector on their own}A personal lines licensee is an agent-broker who is able to transact coverage for all of the following EXCEPT 1. personal aircraft. 2. earthquake and flood. 3. residential property. 4. automobiles and recreational vehicles. {Ans: 1. personal aircraft.}ALL of the following are examples of open policies EXCEPT 1. market value. 2. agreed value. 3. actual cash value. 4. replacement value. {Ans: 2. agreed value.}When is it possible for a commercial vehicle to be eligible for coverage under the California Automobile Assigned Risk Program? 1. if the commercial vehicle is part of a large corporate fleet that moves products serving the underprivileged 2. when the commercial vehicle is used strictly for the transportation of those suffering from a terminal