California Property Tax Bill: View, Understand, and Pay Your Secured Tax

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California Property & Casualty Licensing Exam and

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The process where by a mutul insurer becomes a stock company

is called .....ANSWER..... Demutalization

The process whereby a stock company a mutal insurer is called

.....ANSWER..... Mutalization

The provision in a property policy which states that the insured

has been paid up to their insurable interest is .....ANSWER.....

Valuation clause

The part of the policy that states the amout of coverage the

insured property policy period is .....ANSWER..... Declaration

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Part of the policy that establishes limits upon the insurer and the

insured with the insuance policy .....ANSWER..... Conditions

Which are the characterics of negligence .....ANSWER.....

Duty,breach,proximate cause, damages

Which of the following is not a federal program .....ANSWER.....

Worker' compensation

Absolute risk(liability) is imposed .....ANSWER..... 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?

.....ANSWER..... $0

what is the main purpose of tort law .....ANSWER..... to determine

financial responsibillty for damage

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what of the following is not considered an intentional tort?

.....ANSWER..... Auto accident

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

The insurer decides not to renewan insured's personal auto

policy. How much notice must the insurer provide to the insured

.....ANSWER..... 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 .....ANSWER..... 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

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device any examiner lawfully appointed to examine the insured's

.....ANSWER..... an unfair practice

a person can base his/her claim for liability on the basis of all of

the following EXCEPT .....ANSWER..... breach of liability

the term "assignment"refers to .....ANSWER..... the transfer of the

insured's interest in a policy to another party

the term "subrogation" refers to .....ANSWER..... 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, .....ANSWER..... subrogation

an insurance deductible is .....ANSWER..... the amount of covered

expense that the insured pays before the insurer pays,