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MS ADJUSTER LICENSE EXAM 2024 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED $17.99
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MS ADJUSTER LICENSE EXAM 2024 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED

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Jerome was shopping at ABC Imports when a light fixture fell from the ceiling and hit him on the head. Jerome's injuries resulted in an extended hospital stay, so he sued ABC Imports and was awarded $400,000. Assuming ABC Imports carries a CGL with a General Aggregate of $750,000 and a per occurren...

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  • May 4, 2024
  • 61
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • ms adjuster
  • MS ADJUSTER LICENSE.
  • MS ADJUSTER LICENSE.
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ACELEARNERS
MS ADJUSTER LICENSE EXAM 2024 QUESTIONS
WITH CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
Jerome was shopping at ABC Imports when a light fixture fell from the ceiling and hit

him on the head. Jerome's injuries resulted in an extended hospital stay, so he sued ABC

Imports and was awarded $400,000. Assuming ABC Imports carries a CGL with a

General Aggregate of $750,000 and a per occurrence limit of $250,000, what is the

maximum that ABC's insurer will pay for Jerome's injuries? - CORRECT ANSWER

$250,000

Strict Liability: - CORRECT ANSWER holds a person liable for his actions

regardless of how much care he demonstrates.

Wendy hires Jim to build an addition to her house. Jim takes the job and finishes it in

good time. Unfortunately, as Wendy is walking across the threshold of the new addition,

a floorboard gives way and Wendy falls into the crawl-space below, injuring her leg and

back. Which commercial general liability coverage could help cover the cost of Wendy's

injuries? - CORRECT ANSWER Completed Operations Liability

In which case would the insured be indemnified by her auto liability coverage? -

CORRECT ANSWER NOT: None; liability coverage never indemnifies the insured.

OR she causes property damage to her neighbor

Lucille owns her own woodworking business, building custom items such as dressers,

wooden trunks, and mantelpieces. A fire destroys her entire operation and Lucille files a

claim with her insurer. Which of the following would be covered under Coverage A of

,MS ADJUSTER LICENSE EXAM 2024 QUESTIONS
WITH CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
the Building and Personal Property Coverage Form in her commercial property policy? -

CORRECT ANSWER A bandsaw permanently affixed to the floor

In which of these situations could a Mississippi insurer cancel a policy after 60 days with

sufficient notice? - CORRECT ANSWER The policyholder's son has his license

suspended during the policy period.

Bonnie's PAP includes Comprehensive coverage. Which of the following losses could

this coverage pay for? - CORRECT ANSWER Bonnie's car catches fire

Sam suffers $6,000 in injuries when Nicole runs a red light and crashes her uninsured car

into Sam's. Sam's own insurance company, ABC Insurance, immediately pays him

$5,000 for his injuries. Sam then ponders whether to file a $6,000 lawsuit against Nicole.

Why can't Sam sue Nicole for the full amount of his injuries? - CORRECT ANSWER

By accepting payment from ABC Insurance, Sam subrogated a portion of his rights

against Nicole to ABC Insurance.

In order to be a licensed adjuster, a person must be at least ____ years old. -

CORRECT ANSWER 18

Grant works at ABC Convenience. One day, a man pulls up in an expensive car and pays

cash for his gas with a hundred dollar bill. Grant accepts the bill without checking its

validity. When Grant's manager checks the bill later, he discovers it is a fake. Which

commercial crime coverage could protect ABC Convenience from financial loss

,MS ADJUSTER LICENSE EXAM 2024 QUESTIONS
WITH CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
associated with accepting the fake hundred dollar bill? - CORRECT ANSWER

Money orders and counterfeit paper currency

States that allow private insurers to offer workers' comp coverage as an alternative to the

state workers' comp fund are called: - CORRECT ANSWER competitive

The Employee Retirement Income Security Act (ERISA): - CORRECT ANSWER

requires that every fiduciary of an employee benefit plan and every person who handles

funds or other property of those plans must be bonded

Bill lives in Mississippi and has the minimum auto liability coverage required for the

state. He causes an accident that results in $35,000 in property damage and $50,000 in

bodily injury to another person. How much will Bill have to pay out of pocket for this

accident? - CORRECT ANSWER $10,000 in property damage and $25,000 in

medical expense

Which of the following statements regarding scheduled fidelity bonds is FALSE? -

CORRECT ANSWER All employees are bonded for the same aggregate amount.

D'Anton spills coffee in his lap while driving, causing him to veer off the road and smash

into a telephone pole. Which part of his Auto Insurance Policy will help him pay for the

repairs to his car? - CORRECT ANSWER Collision coverage

If an insurer decides to cancel a personal auto policy (for a reason other than non-

payment of premiums) after the policy has been in effect for 60 days, the insurer must

, MS ADJUSTER LICENSE EXAM 2024 QUESTIONS
WITH CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
provide written notice to the insured __________ in advance. - CORRECT ANSWER

30 days

Acme Construction, Inc. has one contractor and one receptionist. The contractor makes

$25/hr, and the receptionist makes $10/hr. The contractor worked exactly 8 hours in

2010, so he made $200. The receptionist worked 10 hours, so she made $100. Therefore,

Acme's entire payroll for 2010 was $300. Assume that, for every $100 of payroll, the WC

rate for contractors is $50 and the rate for receptionists is $5. How much did Acme owe

in WC premiums? - CORRECT ANSWER $105

During a routine tooth extraction, Dr. Dentem administers too much laughing gas and

causes brain damage to his client. The family sues Dr. Dentem for failing to follow

procedure. Which kind of insurance would cover the cost of the lawsuit? - CORRECT

ANSWER Malpractice insurance

Sally has an HO-3 policy on her $150,000 home in the country. One day, a bear breaks

down Sally's back door to get into her kitchen for a snack. When Sally comes home to

find the damage, she files a claim with her insurance company. Will the damage to Sally's

home be covered, and why or why not? - CORRECT ANSWER Yes. The HO-3 is

an open peril policy, without exclusion for wildlife.

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