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Adjuster Pro: Indiana Adjuster's License - Practice Exam- 52 Q AND A
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Adjuster Pro: Indiana Adjuster's License -Practice Exam- 52 Q AND A
On January 27, 2008, Ryan was using an exercise bike purchased from
NusquamCycle when the chain broke, causing him to fall and severely bruise
his knee. It seemed to heal just fine, but three years later, on January 25,
2011, Ryan's knee gave out while jogging. His doctor told him that he'll need
surgery and that this deterioration resulted from the earlier accident with the
exercise bike. Which of the following CGL policies may cover Ryan's claim
filed January 25, 2011?
A. An occurrence policy from Jan 31 2011-Jan 31 2013
B. An occurrence policy from Feb 28 2008-Feb 28 2010
C. A claims-made policy from Jan 31 2008-Jan 31 2010
D. A claims-made policy from Jan 31 2009-Jan 31 2011 - -D
-Which of the following statements about Indiana's approach to Workers'
Comp insurance is true?
A. WC is compulsory, and Indiana has no state WC fund.
B. WC is elective, and Indiana has no state WC fund.
C. WC is elective, and Indiana has a competitive state WC fund.
D. WC is compulsory, and Indiana has a monopolistic state WC fund. - -A
-Who is NOT eligible for a homeowners policy?
A. An owner of a home under construction
B. A person who owns and lives in his house
C. A tenant who rents a home or apartment
D. An owner of a house in which he does not live, but rents to a tenant - -D
-Frank owns a bakery specializing in authentic French bread. He uses two
specialty ovens for his daily production of French bread. If one of these giant
ovens were to break down, it would cost Frank's bakery a lot of money to
repair, not to mention the loss of revenue caused by lower production. On his
Equipment Breakdown Protection Form, each of Frank's ovens would be
considered:
A. a "peril."
B. an "object."
C. a "machine."
D. a "liability." - -B
-A dwelling policy would NOT be appropriate for:
A. a duplex owned by an individual.
B. a single-family home wholly rented out.
C. a four-plex owned by a corporation.
D. a motorhome owned by an individual. - -D
, -*Jane has a $150,000 homeowners policy with a 3% percentage deductible.
One night, an oven fire destroys her kitchen, causing $50,000 in damage.
How much of the damage falls under Jane's responsibility?
A. $4,500
B. $15,000
C. $3,600
D. $1,500 - -A
-All of the following pieces of information can be found in the Conditions
section of an insurance policy, EXCEPT:
A. anything the insured must do for coverage to remain in effect.
B. what the insured must do in the event of a lawsuit.
C. the insured's duties after a loss.
D. causes of loss that are not covered. - -D
-A few weeks ago Christopher's garage was destroyed by an out-of-control
motorist. Fortunately, the motorist had sufficient liability insurance to cover
the damages. However, the insurer insists that Christopher's garage is worth
far less than the appraisals he has received from contractors. Christopher
and the insurer have gone back and forth in negotiations for weeks, making
little headway. Christopher decides it's time to:
A. issue an answer for the policyholder.
B. issue a judgment.
C. issue a complaint against the policyholder.
D. issue a reservation of rights. - -C
-Which of the following may be covered under an Equipment Breakdown
Protection Coverage Form?
A. Self-propelled equipment
B. Dragline, excavation, and construction equipment
C. Equipment built to operate under internal pressure or vacuum
D. Equipment used solely for therapeutic or surgical purposes - -C
-Jim drops his car off at ABC Garage to have his exhaust system repaired
and takes the train to work. When he returns, he finds that his car has been
vandalized. Jim has comprehensive coverage, but feels the garage is
responsible for the damage since Jim entrusted the car to ABC Garage.
Which coverage type under ABC's garagekeepers policy would cover any
part of the loss that Jim's policy does not cover?
A. Direct Primary Coverage
B. Excess Comprehensive Coverage
C. Direct Excess Coverage
D. General Liability Coverage - -C
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