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HAWAII INSURANCE ADJUSTER EXAM - STUDY TERMS Latest Update Actual Exam with 200 Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor$20.49
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HAWAII INSURANCE ADJUSTER EXAM - STUDY TERMS Latest Update Actual Exam with 200 Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor
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HAWAII INSURANCE ADJUSTER
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HAWAII INSURANCE ADJUSTER
HAWAII INSURANCE ADJUSTER EXAM - STUDY TERMS Latest Update Actual Exam with 200 Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor
HAWAII INSURANCE ADJUSTER EXAM - STUDY
TERMS Latest Update 2024-2025 Actual Exam
with 200 Questions and 100% Verified Correct
Answers Guaranteed A+ At First Attempt Verified
By Professor
"Nonconcurrency" - CORRECT ANSWER: When the underlying policy and the "excess"
policy have different inception and expiration dates, a denial of claim could occur.
"nose coverage". - CORRECT ANSWER: The second insurer will set the "retroactive
date" on the new policy back. The coverage purchased on the second policy to cover
acts from 2012 to 2016, would be termed.
"Products" coverage - CORRECT ANSWER: coverage protects the insured for bodily
injury and property damage occurring away from premises owned or rented to the
insured and arising out of products made or sold by the insured
"Shopkeeper's Privilege", - CORRECT ANSWER: allows shopkeepers to keep people
they suspect of shoplifting for a reasonable amount of time.
"Supplementary Payments" - CORRECT ANSWER: first aid expenses, premiums for
bonds, pre- and post-judgment interest, and travel expenses incurred by the insured.
-Supplementary payments are "in addition to" the liability limits of the policy,
1. Under Form MCS-90, a _____ notice to the other party is required for cancellation of
coverage on the part of either the insurer or insured. - CORRECT ANSWER: 1. A 35-
day cancellation notice is required on the part of the insured or insurer.
A "tail" - CORRECT ANSWER: is an endorsement that provides coverage for acts
performed while the claims-made policy was in effect, but were not filed as claims until
after the policy was cancelled.
,A person must be guilty of committing a _____________to be held liable for negligence
and is then referred to as a _____________________. - CORRECT ANSWER: tort
tortfeasor
A statement comprises three parts: - CORRECT ANSWER: 1. The introduction;
2. The body; and
3. The closing or conclusion
Absolute Liability - CORRECT ANSWER: is imposed by law on those participating in
certain activities that are considered especially hazardous. Absolute liability is most
frequently applied to activities involving: (also called Strict Liability)
applied when using the following
• Dangerous materials;
• Hazardous operations; • Dangerous animals.
aggregate limit - CORRECT ANSWER: is the limit stated in the policy representing the
total amount for all claims paid during the policy period.
Assault - CORRECT ANSWER: An attempted battery, or threatening injury when no
battery takes place.
Battery - CORRECT ANSWER: -The legal term for "hitting someone", covering a wide
range of activities including "sending projectiles into someone's body", including firing a
gun.
Bodily Injury (BI) - CORRECT ANSWER: Is defined as bodily harm, sickness, or
disease, including death that may result.
Breach of Warranty - - CORRECT ANSWER: There is an implied warranty that the
product is safe for use.
, Causation - CORRECT ANSWER: The breach of the duty of care must be the legal
cause of the harm that was suffered by the injured person. There are two distinct
components of causation:
Commercial General Liability exclusions - CORRECT ANSWER: -Excludes
-Expected or Intended Injury
-Contractual Liability -
-Liquor Liability
-Workers Compensation and Similar Laws -
-Employer's Liability
-Pollution
-Aircraft, Auto or Watercraft - Insurance
-Mobile Equipment
-War Exclusion
-Damage to Property
Commercial General Liability insurance is sometimes referred to as - CORRECT
ANSWER: business liability insurance.
Comparative Negligence - - CORRECT ANSWER: Law that allows an injured party to
collect from another party for a loss, even when the injured party contributed to his or
her own loss. Damages are reduced to the extent of the injured party's negligence. This
is the defense used in most states.
Compensatory Damages - CORRECT ANSWER: or (Special Damages) - These are the
damages the injured party receives for the "economic losses" caused by the injury, such
as medical expenses and loss of wages.
Contribution by Equal Shares" - CORRECT ANSWER: is a method of apportioning loss
among multiple insurers under a liability policy.
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