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ADJUSTER PRO TEXAS EXAM WITH COMPLETE SOLUTIONS
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ADJUSTER PRO TEXAS EXAM WITH COMPLETE SOLUTIONS
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Name: Score:309 Multiple choice questions
Term
While Andrea was grocery shopping in BB Mart, the large Dairy sign fell off the wall and
landed on her. Because of her extensive injuries, Andrea sued BB Mart and was awarded
$375,000 in damages. BB Mart's Commercial General Liability policy has a general aggregate
limit of $1,000,000 and a per occurrence limit of $300,000. What is BB Mart's general aggregate
limit after the claim for Andrea's injuries is paid?
$695,000
$699,995
$15,000
$700,0001 of 309
Term
During a strong storm, Missy's grain drill was mangled by a tornado, which rendered it useless.
Before the damage, the grain drill was worth $25,000, but it would cost $45,000 to buy a new
one today. Missy's farm policy has a replacement cost endorsement, and the grain drill is
scheduled on a Mobile Agricultural Machinery and Equipment form with a $36,000 limit. Missy
replaces her grain drill with one she found on sale for $40,000. How much total indemnification
will she receive?
$45,000 (?)
moral hazard (?)
$15,000 (?)
monoline policy(?)2 of 309 Term
What BOP endorsement would cover a company's lost business income and extra expense
due to loss of electrical service?
Risk Retention
Universal
The Power Surge
Utility Time Element3 of 309
Term
In Texas, an insurer may not:
Ken lights a candle, sets it right next to the window draperies and leaves the house to go
to work.
require a claimant to produce his federal tax returns before agreeing to settle his claim.
Because the damage took place while the plane was being transported, the deductible
wont apply to this loss.
A man sues Dr. Jones on July 26, 2009 for a damaging knee surgery performed on March
3, 2006.4 of 309
Term
What is sit called when an insurer makes a habit of delaying payment on legitimate claims?
An Unfair Settlement Practice
An Occurrence
Wind
An Insurer's Insolvency5 of 309 Term
A stand alone excess liability policy:
Sandra's home is in an area of Los Angeles that is often hit by earthquakes
follows a base policy, but may have different exclusions and limitations.
exists solely to provide insurance for its parent company
the unit owner and condo association share responsibility for insuring the property.6 of 309
Term
Jim has two policies that cover the same risk, but they respond differently: Policy X is primary
and Policy Z is excess. Policy X has a limit of $50,000 and Policy Z has a limit of $25,000. When
Jim suffers an insured loss totaling $62,000, how will each policy respond?
Policy X will pay $50,000 and Policy Z will pay $12,000
Claims-Made policy from Jan 1 2003-Jan 1 2004 with a supplemental extended tail
Occurrence Policy
Hank will be indemnified by his insurer for $23,0007 of 309
Term
When taking recorded witness statements, the adjuster should:
joint control
monopolistic
remain objective
the risk management agency8 of 309 Term
Which of the following is NOT eligible for Dwelling coverage?
It cant be used with Workers' Compensation claims
An 8-unit apartment building in which the owner resides
Ken lights a candle, sets it right next to the window draperies and leaves the house to go
to work.
It relies on the utmost good faith of both the insured and the insurer9 of 309
Term
Once a claim has been accepted and is undisputed, the insurer has ___ days to pay the claim.
5
The insured's duty after a loss
High-risk consumers need insurance, yet no private insurer wants to issue high-risk
policies.
An open line of communication10 of 309
Term
Which of the following best describes who adjusters can work for?
Either insurers or claimants
Usually actual cost valuation
The insured's duty after a loss
High-risk employees11 of 309
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