Claims Adjuster Exam 2023 With verified solutions

Claims Adjuster Exam 2023 With verified solutions Multi Peril-Package - CORRECT ANS Any policy which provides property & liability coverage (not homeowner) ISO policy - CORRECT ANS Sold in Texas, but not Texas form Only Texas DP 1 - CORRECT ANS Mainly the only TDP sold, now with plethora of endorsements Texas Standard Fire Policy - CORRECT ANS Granddaddy of all Texas property policies Business auto coverage e.g. - CORRECT ANS Owner of a taxi to cover collision damage Inland Marine (build milk policy) would cover e.g. - CORRECT ANS 3k gallons of milk in tanker truck Texas Standard, Standard Fire & Business Owner - CORRECT ANS Would all cover damage to something like a gift card shop fire Tx Personal Auto Policy e.g. - CORRECT ANS Owner of family far, for potential injury to other people Trucker's policy - CORRECT ANS Trucking company, for potential damage to other people's trailers which the trucking company may be pulling Actual Cash Value (ACV) - CORRECT ANS Replacement cost less depreciation Garage Liability e.g. - CORRECT ANS For valet parking service to have appropriate liability coverage it needs what kind of policy? Flood, workers comp, crop, costal wind among others - CORRECT ANS Types of casualty claims I will be unable to handle under license I'm studying for Ocean Marine Hull coverage - CORRECT ANS Would have to be written for an insured to cover potential collision damage to insured's ship Covered (if it's not written) - CORRECT ANS It's safe to assume that if something is not excluded in writing it's appropriate to assume that the loss is? 15/15/5 rule - CORRECT ANS 15 calendar days to send notice you received claim 15 business days to resolve case 5 days to pay claim (if applicable) Options for High Risk Drivers? - CORRECT ANS Texas started TAIPA Risk pool Minus PIP ($2,500) Uninsured/underinsured motorist coverage - CORRECT ANS What does TAIPA provide? When can you get TAIPA - CORRECT ANS Once you've been rejected by 2 or more insurance companies Commercial General Liability coverage - CORRECT ANS Covers basically any risk imaginable that would "cause" bodily injury or property damage E.g. Customer slip-fall; hit by debris; escalator lurching;poison get well card Multi peril or package - CORRECT ANS Any policy that provides both property and liability coverage ISO - CORRECT ANS A policy sold in Texas, but is not a Texas Policy form How many Texas Dwelling policies are sold now? - CORRECT ANS ONE TX Dwelling Form 1 - CORRECT ANS The dwelling policy sold in texas Texas Standard Fire Policy is... - CORRECT ANS The