California property and casualty LATEST UPDATED 2025/2026 exam WITH COMPLETE Questions with SURE VERIFIED SOLUTIONS 100% GRADED AT A+ SCORE!! SURE GUARANTEED PASS!!

California property and casualty LATEST UPDATED 2025/2026 exam WITH COMPLETE Questions with SURE VERIFIED SOLUTIONS 100% GRADED AT A+ SCORE!! SURE GUARANTEED PASS!! 1. The process where by a mutul insurer becomes a stock company is called - ANSWER Demutalization 2. The process whereby a stock company a mutal insurer is called - ANSWER Mutalization 3. 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 - ANSWER a homeowner decides not to install a pool in the backyard 4. 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 - ANSWER an unfair practice 5. a person can base his/her claim for liability on the basis of all of the following EXCEPT - ANSWER breach of liability 6. the term "assignment"refers to - ANSWER the transfer of the insured's interest in a policy to another party 7. the term "subrogation" refers to - ANSWER the insured's right to recover payment from a responsible 3rd party 8. The provision in a property policy which states that the insured has been paid up to their insurable interest is - ANSWER Valuation clause 9. The part of the policy that states the amout of coverage the insured property policy period is - ANSWER Declaration 10. Part of the policy that establishes limits upon the insurer and the insured with the insuance policy - ANSWER Conditions 11. Which are the characterics of negligence - ANSWER Duty,breach,proximate cause, damages 12. Which of the following is not a federal program - ANSWER Worker' compensation 13. Absolute risk(liability) is imposed - ANSWER When there is negligence whether proven or not 14. 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? - ANSWER $0 15. what is the main purpose of tort law - ANSWER to determine financial responsibillty for damage 16. what of the following is not considered an intentional tort? - ANSWER Auto accident 17. Which of the following statements is true regarding compensatory damages? - ANSWER There is usually no direct correlation between the amount of general and special damages awarded to the victim 18. The insurer decides not to renewan insured's personal auto policy. How much notice must the insurer provide to the insured - ANSWER 30 days 19. 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, - ANSWER subrogation 20. an insurance deductible is - ANSWER the amount of covered expense that the insured pays before the insurer pays, 21. all of the following are requirements for a notice by mail to an insured by insurer except - ANSWER notice must be sent with return receipt required 22. which of the following is considered special damages - ANSWER Compensation for time away from work 23. Which advisory organization(s) develop forms for the standard market? - ANSWER Insurane service office and American association of insurances 24. Which of the following would be considered special dmamges? - ANSWER Lost wages 25. What do the initials S.tA.R.R reperesent? - ANSWER Methods of risk mamagement 26. All of the following would be considered benfits of insurance except - ANSWER ureRetention of loss by the insd 27. What gives an insured party the right to seek compensation if it is proven that another person with negligence contributed to the injury - ANSWER Tort law 28. What of the following is NOT one the three main types of insurance losses - ANSWER Financial loss 29. Under a special cause of loss form if a landslide is caused by an unnatural flow of water due to improper grading, the loss is, - ANSWER Excluded under the concurrent causation 30. An open peril policy protects agaginst the loss from - ANSWER Any peril, other than those specifically excluded 31. What factor supportd the principle of indemnity? - ANSWER Insurable interest 32. All of the following are characteristics of an ideally insurable loss exposure"except" - ANSWER Losses that are catastrophic 33. The amount to replace property with " like property of the same quality and construction" is the properties - ANSWER Replacement value 34. All of the following are considered intentional torts - ANSWER except, Assult 35. What is the difference between per accident limit in a split limit policy and single limits - ANSWER There is no difference