Exam (elaborations)
NC ADJUSTER LICENSE PRACTICE EXAM QUESTIONS AND ANSWERS
- Course
- Institution
NC ADJUSTER LICENSE PRACTICE EXAM QUESTIONS AND ANSWERS
[Show more]
Content preview
NC ADJUSTER LICENSE PRACTICEEXAM QUESTIONS AND ANSWERS
Manny6is6purchasing6a6Commercial6Property6policy6with6a6Business6Income6form6includ
ed.6Manny6can6select6from6any6of6the6following6as6a6method6to6provide6coverage,6while6
avoiding6the6coinsurance6requirement,6EXCEPT:6-6ans--
The6maximum6monthly6limit6of6indemnity6optional6coverage
The6traditional6definition6of6actual6cash6value6(ACV)6is:6-6ans--
Replacement6cost6minus6depreciation
Sam6and6Dan6are6working6to6clean6out6the6gutters6around6the6roof6on6Sam's6house.6Sa
m6and6Dan6are6standing6at6the6top6of6separate6ladders6that6are6propped6against6the6side
6of6Sam's6house,6when6Dan's6ladder6begins6to6wobble6and6ultimately6falls6into6Sam's6lad
der.6Both6men6and6their6ladders6crash6to6the6ground.6Whose6injuries6will6be6covered6by6
Sam's6Homeowners6policy6under6Coverage6E6-6Personal6Liability?6-6ans--
Only6Dan's6injuries6would6be6covered
Torts6that6can6be6covered6by6insurance6policies6include6all6of6the6following,6EXCEPT:6-
6ans--Intentional6torts6purposely6committed6to6cause6harm6to6another.
The6insured6has6a6$1,000,0006personal6umbrella6policy6with6a6$5,0006retention6limit.6For
6a6$7,0006liability6loss6not6covered6under6the6insured's6personal6auto6policy,6but6covered
6under6the6umbrella6policy,6the6insurance6company6would6pay:6-6ans--$2,000
All6of6the6following6is6considered6an6"insured"6under6a6CGL6policy,6EXCEPT:6-6ans--
Lawyers6of6the6named6insured
What6specific6type6of6liability6policy6gives6an6owner6protection6against6liability6claims6aris
ing6out6of6the6acts6of6its6independent6contractors?6-6ans--
Owners6and6Contractors6Protective6Liability6Policy.
Which6of6the6following6would6be6eligible6for6coverage6under6a6Businessowners6policy?6-
6ans--A6small6retail6store
Which6of6the6following6is6NOT6a6correct6statement6in6determining6the6cost6of6a6"compara
ble6automobile"6when6a6physical6damage6loss6has6a6occurred?6-6ans--
, The6cost6of6a6comparable6automobile6as6determined6by6a6computerized6automobile6valu
ation6service6that6produces6statistically6valid6fair6market6values6within6the6United6States6
market
All6of6the6following6statements6are6TRUE6of6North6Carolina6automobile6liability6policies,6
EXCEPT6-6ans--
If6the6insured6carries6limits6greater6than6the6minimum6financial6responsibility6limits6requir
ed6by6state6law,6they6are6not6required6to6carry6Uninsured/
Underinsured6Motorists6coverage.
The6basic6limit6for6Coverage6F6--
6Medical6Payments6of6the6standard6Homeowners6forms6is:6-6ans--$1,0006per6person
Oliver6Dogwood6was6in6an6auto6accident6which6destroyed6his6car.6While6investigating6th
e6accident,6Adjuster6Doright6found6that6Mr.6Dogwood6paid6$1,0006for6the6vehicle.6After6c
hecking6with6others6he6found6the6same6vehicle6with6an6asking6price6of6$1,700,6a6retail6pri
ce6of6$2,1506and6a6dealer6price6of6$1,750.6What6amount6will6Mr.6Dogwood6receive?6-
6ans--$2,150
When6a6claims6representative6is6collecting6information6from6a6third-
party6claimant,6which6of6the6following6is6the6information6that6should6be6obtained6first?6-
6ans--The6nature6and6extent6of6the6injuries6or6property6damage6claimed.
The6Business6Auto6uses6Symbol676to6cover6"specifically6described6autos"6identified6in6th
e6declarations.6An6auto6acquired6during6the6policy6period6will6only6be6covered:6-6ans--
If6the6insured6insures6all6of6their6vehicles6with6the6company6or6it6replaces6a6covered6auto
..
What6coverage6under6the6BOP6automatically6applies6if6a6customer6slips6and6falls6on6the6
named6insured's6premises,6regardless6of6legal6liability?6-6ans--
Medical6expense6coverage
When6an6insurer6is6called6upon6to6defend6a6suit6under6a6CGL6policy,6the6amount6that6ca
n6be6paid6for6the6defense6costs6is:6-6ans--Not6limited
Any6North6Carolina6lender6in6making6or6servicing6real6estate6mortgage6or6deed6of6trust6lo
ans6on6one6to6four6family6residences6must6accept6a6binder6as6proof6of6insurance.6The6bi
nder6presented6to6the6lender6must6include6all6of6the6following,6EXCEPT6-6ans--
A6sworn6statement6that6the6insurance6will6be6kept6in6force.
Which6of6the6following6statements6is6TRUE6concerning6Part6A6-
6Liability6coverage6on6a6standard6Personal6Automobile6policy?6-6ans--
The6coverage6is6provided6only6for6accidents6caused6by6those6who6are6"insureds"6under6t
he6policy..
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller AGRADEPROMASTER. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78075 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now