PSI CA Property & Casualty Practice Test Exam Questions and Answers (Solved Papers) Which would permit an insurer to escape insolvency? - Correct Answers ✅possession of assets equal to the total paid-in capital after all liabilities and reinsurance When should an insurer provide for the continuous operation of a unit or division to investigate possible fraudulent claims?
- Correct Answers ✅if admitted to do business in this tate,
except those otherwise exempted What is the maximum fine for a person who transacts insurance without a valid license? - Correct Answers ✅$50,000 and/or imprisonment for a period not exceeding one year.Which of the following is TRUE regarding non admitted insurers? - Correct Answers ✅acting as an agent for a non admitted insurer is considered a misdemeanor Which circumstances in a pretext interview determine if the questions are permissible? - Correct Answers ✅when an insured is consulted by a person who hides his true identity on purpose when fraud for a claim is suspected A policy shall specify all of the following EXCEPT - Correct Answers ✅the method in which the coverage amount was calculated 1 / 2
PSI CA Property & Casualty Practice Test Exam Questions and Answers (Solved Papers) A claimant can be any of the following EXCEPT - Correct Answers ✅a person who is conducting an investigation of a claim on behalf of an insurer.Which of the following is TRUE regarding continuing education requirements of an agent or broker? - Correct Answers ✅any licensee shall satisfactorily complete 24 hours of instruction prior to license renewal According to CIC Section 1711, an organization ceases to exist as an entity eligible to hold a license EXCEPT - Correct Answers ✅upon the termination of all contracts Which of the following provisions of free insurance offered as an incentive to purchase or rent property is TRUE? - Correct Answers ✅it requires a separate charge or fee When may a representation be altered or withdrawn? - Correct Answers ✅before the insurance is effected Which of the following is a party to a contract of insurance bound to communicate EXCEPT - Correct Answers ✅those which the other would know by retaining a consultant with specialized knowledge in insurance matters
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