Adjuster Pro - Insurance Adjusting Exam Questions Reviewed And Revised With Correct Answers <Guarantee Pass |Updated!!>
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Adjuster Pro - Insurance Adjusting
Exam Questions Reviewed And
Revised With Correct Answers
<Guarantee Pass |Updated!!>
1) Ron works from home. After a kitchen fire renders his home
uninhabitable, he is forced to rent an apartment in town while
the repairs are made. Which type of...
Adjuster Pro - Insurance Adjusting
Exam Questions Reviewed And
Revised With Correct Answers
<Guarantee Pass |Updated!!>
1) Ron works from home. After a kitchen fire renders his home
uninhabitable, he is forced to rent an apartment in town while
the repairs are made. Which type of coverage could help Ron
pay the cost of renting the apartment?
A. Coverage B - Other Structures
B. Coverage A - Dwelling
C. None
D. Coverage D - Loss of Use - ANSWER D
2) John's home is totally destroyed by a fire, and along with it
most of his personal property. A few of the items were
scheduled in his homeowners policy, such as his Rolex watch
and a few antiques, but everything else was left as
"unscheduled property." These "unscheduled" items,
,A. will not be covered.
The Scheduled Personal Property endorsement is used to list
(or schedule) certain items with higher coverage limits.
Otherwise, all personal property normally kept at the insured
premises is covered up to the Coverage C limit, with no need to
list, or schedule, each individual item.
B. will have to be scheduled before they can be covered.
C. will take twice as long for indemnification since their times
weren't scheduled.
D. will be covered under the normal policy limits - ANSWER
D
3) The Liberalization clause in a homeowners policy:
A. states that the insurer is obligated to pay out only up to the
limit set by the policy, but must do so within 60 days of
receiving proof of loss.
In the HO policy, the Liberalization provision applies not only to
changes made during the policy period, but also to any changes
up to 60 days before it goes into effect.
B. states that only losses occurring during the policy period will
be paid.
,C. applies not only to changes made during the policy period,
but also to any changes made up to 60 days before the policy
went into effect.
D. voids the policy if the insured deliberately conceals or
misstates pertinent info. - ANSWER C
4) To meet the 80% level of co-insurance required by his lender,
Tom discovers he must insure his home for at least $320,000.
What is the value of Tom's home?
A. $440,000
B. $256,000
$320,% = $400,000
C. $400,000
D. $320,000 - ANSWER C
5) Which of the following is true of an Indiana insurer who does
not want to renew a policy?
A. It may decide not to renew for any reason, but must give the
policyholder 30 days' notice beforehand.
, B. It may decide not to renew for any reason, and is not
required to give notice to the policyholder.
C. It may only decide not to renew if the policyholder has paid
less than 50% of his premiums in the last quarter, and must give
the policyholder 10 days' notice beforehand.
D. Its reasons for nonrenewal must meet state requirements,
and it must give the policyholder 20 days' notice beforehand. -
ANSWER D
6) In Indiana, if an insurer wishes to cancel a policy that has
been in effect for less than 60 days, it may do so:
A. for any reason, as long as it refunds any pre-paid premiums.
That is incorrect. In Indiana, if an insurer wishes to cancel a
policy that has been in effect for less than 60 days, it may do so
only for a state-approved reason, and must give the
policyholder 10 days' written notice before cancellation.
B. only for a state-approved reason, and must give the
policyholder 10 days' written notice before cancellation.
C. only for violation of safety codes, and must give the
policyholder 20 days' written notice before cancellation.
D. for any reason, and must give the policyholder 15 days'
written notice before cancellation. - ANSWER B
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