california property and casualty
exam Questions with Complete
Correct Answers | Grade A+
The process where by a mutul insurer becomes a stock company is called
Ans: Demutalization
The process whereby a stock company a mutal insurer is called
Ans: Mutalization
The provision in a property policy which states that the insured has been paid up to their
insurable interest is
Ans: Valuation clause
The part of the policy that states the amout of coverage the insured property policy period is
Ans: Declaration
Part of the policy that establishes limits upon the insurer and the insured with the insuance
policy
,Ans: Conditions
Which are the characterics of negligence
Ans: Duty,breach,proximate cause, damages
Which of the following is not a federal program
Ans: Worker' compensation
Absolute risk(liability) is imposed
Ans: When there is negligence whether proven or not
X is in an accident with Y. X suffers $5000 of damage but it is determined that X is 60%
responsible for the accident. How much would X receive under CONTRIBUTORY
negligence rules?
Ans: $0
what is the main purpose of tort law
Ans: to determine financial responsibillty for damage
what of the following is not considered an intentional tort?
,Ans: Auto accident
Which of the following statements is true regarding compensatory damages?
Ans: There is usually no direct correlation between the amount of general and special
damages awarded to the victim
The insurer decides not to renewan insured's personal auto policy. How much notice must the
insurer provide to the insured
Ans: 30 days
an insured's loss reserve for a claim isan estimate of the amount insurer will pay for present
and future loss, which of the following is an example of loss prevention
Ans: a homeowner decides not to install a pool in the backyard
which of the following describes the act of making a false entry in any book statement of
report of any insurer with the intent to device any examiner lawfully appointed to examine
the insured's
Ans: an unfair practice
a person can base his/her claim for liability on the basis of all of the following EXCEPT
Ans: breach of liability
, the term "assignment"refers to
Ans: the transfer of the insured's interest in a policy to another party
the term "subrogation" refers to
Ans: the insured's right to recover payment from a responsible 3rd party
insur's right to recover the payment of the claim after they paid the insured for their property
losses a negligent 3rd party is know as,
Ans: subrogation
an insurance deductible is
Ans: the amount of covered expense that the insured pays before the insurer pays,
all of the following are requirements for a notice by mail to an insured by insurer except
Ans: notice must be sent with return receipt required
which of the following is considered special damages
Ans: Compensation for time away from work
exam Questions with Complete
Correct Answers | Grade A+
The process where by a mutul insurer becomes a stock company is called
Ans: Demutalization
The process whereby a stock company a mutal insurer is called
Ans: Mutalization
The provision in a property policy which states that the insured has been paid up to their
insurable interest is
Ans: Valuation clause
The part of the policy that states the amout of coverage the insured property policy period is
Ans: Declaration
Part of the policy that establishes limits upon the insurer and the insured with the insuance
policy
,Ans: Conditions
Which are the characterics of negligence
Ans: Duty,breach,proximate cause, damages
Which of the following is not a federal program
Ans: Worker' compensation
Absolute risk(liability) is imposed
Ans: When there is negligence whether proven or not
X is in an accident with Y. X suffers $5000 of damage but it is determined that X is 60%
responsible for the accident. How much would X receive under CONTRIBUTORY
negligence rules?
Ans: $0
what is the main purpose of tort law
Ans: to determine financial responsibillty for damage
what of the following is not considered an intentional tort?
,Ans: Auto accident
Which of the following statements is true regarding compensatory damages?
Ans: There is usually no direct correlation between the amount of general and special
damages awarded to the victim
The insurer decides not to renewan insured's personal auto policy. How much notice must the
insurer provide to the insured
Ans: 30 days
an insured's loss reserve for a claim isan estimate of the amount insurer will pay for present
and future loss, which of the following is an example of loss prevention
Ans: a homeowner decides not to install a pool in the backyard
which of the following describes the act of making a false entry in any book statement of
report of any insurer with the intent to device any examiner lawfully appointed to examine
the insured's
Ans: an unfair practice
a person can base his/her claim for liability on the basis of all of the following EXCEPT
Ans: breach of liability
, the term "assignment"refers to
Ans: the transfer of the insured's interest in a policy to another party
the term "subrogation" refers to
Ans: the insured's right to recover payment from a responsible 3rd party
insur's right to recover the payment of the claim after they paid the insured for their property
losses a negligent 3rd party is know as,
Ans: subrogation
an insurance deductible is
Ans: the amount of covered expense that the insured pays before the insurer pays,
all of the following are requirements for a notice by mail to an insured by insurer except
Ans: notice must be sent with return receipt required
which of the following is considered special damages
Ans: Compensation for time away from work
