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NC CLAIMS ADJUSTER EXAM COMPLETE STUDY GUIDE WITH COMPLETE SOLUTIONS |A+ GRADED
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NC CLAIMS ADJUSTER EXAM COMPLETE STUDY GUIDE WITH COMPLETE SOLUTIONS |A+ GRADED
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ASCORERS STUVIANC CLAIMS ADJUSTER EXAM COMPLETE STUDY
GUIDE WITH COMPLETE SOLUTIONS |A+
GRADED
1st Coverage for watercraft or yacht are: ...ANS: Hull insurance for damage to the insured boat itself
2nd Coverage for watercraft or yacht are: ...ANS: Protection and indemnity liability coverage for BI and PD exposures for damage to other people or other peoples boats.
A alien insurer is ...ANS: In another ountry
A child who has NOT turned 18 and has reached 500 weeks of income benefits for workers compensation will continue to ...ANS: Get benefits until they turn 18.
A common policy condition gives: ...ANS: The insurer the right to make inspections and surveys at any time as it relates to "insurability and premiums."
A deductible is: ...ANS: Any covered property claim that must be paid by the insured before the insurer makes any payments. ASCORERS STUVIA
A domestic insurer is ...ANS: In state
A foreign insurer is ...ANS: In another state
A lender shall accept as proof of required property insurance a binder or other temp contract of insurance as long as such evidence contains? ...ANS: The name and address of named insured and mortgagee.
The amount of insurance.
A description of the collateral and the provision that the binder
may not be cancelled within 10 days prior notice of the mortgagee.
A new vehicle that replaces another vehicle will: ...ANS: Have the same coverages as the old vehicle if the named insured request to insure it within 30 days of becoming the owners.
A policy form is? ...ANS: The coverage purchases
A policy number is? ...ANS: The particular policy the insured
purchased
A spouse who is disables shall receive benefits for ...ANS: life
or until remarriage ASCORERS STUVIA
A transfer of risk ...ANS: Insurance
Accident ...ANS: A sudden unforseen and unintended one time event
All disputes concerning workers compensation issues are referred to ...ANS: The industrial commission for resolution.
An Adverse Writing Decision ...ANS: Must be a written request within 90 days. The company must respond within 21 days of the decision and the insured has 30 days to dispute the decision.
An Extended Reporting Period (ERP) is? ...ANS: Continuing coverage for those events that occurred during its policy period.
An umbrella policy may be written for ...ANS: Businesses or individuals
An umbrella policy will only be responsible for any liability in excess ...ANS: Even if the underlying policy is canceled.
Assumption of risk ...ANS: An individual who is aware of the potential risk involved and chose to expose themselves to it. ASCORERS STUVIA
Certificate of Insurance (COI) ...ANS: A document that proves the existence of insurance coverage
Civil losses are a maximum of: ...ANS: 3 weeks
Claims made provides what type of coverage? ...ANS: Extended reporting period
Claims settlement under a homeowners include ...ANS: Claims for partial losses under COV A and B to be paid on basis of RC with no deductible for depreciation.
Personal property will be handled on ACV basis.
Commingling ...ANS: An illegal practice which clients funds are deposited with the general agency funds.
Comparative negligence ...ANS: Measures the amount of negligence contributed to each party. The injured party will not
cover damages equal to the percentage of negligence they contribute.
Contributory Negligence ...ANS: If an insured party contributed to their injury in anyway due to their own negligence, we will not pay anything.
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