CA Adjusters License PSI exam with 100% correct answers | CA Adjusters License PSI with Complete Solutions

CA Adjusters License PSI exam with 100% correct answers | CA Adjusters License PSI with Complete Solutions A business owner who is careless about property left in his care may be guilty of which of the following hazards: Answer Choices: Select the Correct Answer Morale. Moral. Catastrophic. Occupational. - -Morale. is correct. EXPLANATION: A morale hazard is one created by carelessness or indifference, the failure to exercise due care. A moral hazard is one deliberately created by an insured party willing to trade a loss for a claim payment. A company or staff adjuster represents the interests of: The insurer. The insured. The claimant. The public. - -The insurer. is correct. EXPLANATION: Company or staff adjusters are individuals employed by a property and casualty insurance company to settle on its behalf claims brought by insureds. They work directly for the insurance company as year-round salaried employees. Staff adjusters evaluate the merits of each claim and make recommendations to the insurance company. A dwelling insured under an HO-3 form has been vacant for 61 consecutive days. The dwelling has been vandalized. The vandals decide to set fire to the dwelling to conceal any evidence of their presence. The insurer will: Answer Choices: Select the Correct Answer Deny the loss. Pay the fire loss and not the vandalism damage. Apply the deductible to the vandalism damage. Pay only the actual cash value less the deductible. - -Deny the loss. is correct. EXPLANATION: The insurer will deny the loss because the fire is a result of vandalism. Since the dwelling has been vacant for longer than the 60-day limit, coverage will not apply. (Note: In New York the provisions that restrict coverage for vacant dwellings is 30 days.)