Adjusterpro practice exam Questions
And Answers With Verified Solutions
Already Passed!!! Latest Updated 2024
Which of the following is NOT true of Personal Injury Protection?
A. PIP is usually secondary coverage.
B. PIP restricts the policyholder's right to recover losses in civil court.
C. PIP is primary coverage.
D. PIP provides no-fault protection. - ANSWER✔✔ A. PIP is usually secondary
coverage.
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?
A. $36,000
B. $25,000
C. $45,000
D. $40,000 - ANSWER✔✔ $36,000
Farmer Scott owns a farm and raises goats, producing a lot of manure.
Occasionally, after a strong rain, some of the waste washes into a nearby
river. Which insurance coverage can protect Scott from any liability caused
by the goat waste runoff?
A. Farm Product Liability
, B. Custom Farming Liability
C. Farm Livestock-Waste Liability
D. Farm Pollution Liability - ANSWER✔✔ D. Farm Pollution Liability
Christine's spinach field was partially destroyed by fire that resulted from a
lightning strike during a recent storm. She lost 23 of her 150 acres. The
adjuster writes her a check for the value of the damaged 23 acres, even
though the yield from the rest of the field is doing exceptionally well and
may make up for the damaged portion. What type of insurance policy does
Christine have?
A. Revenue Protection
B. Multi-Peril Crop Insurance
C. Crop-Hail
D. Yield Guarantee - ANSWER✔✔ christine has CROP-HAIL POLICY for her
spinach field of 150 acres
Veronica owns a pottery business and is insured under a commercial property
policy. She was in the process of building an extra structure for the sole
purpose of kiln firing her pottery when a massive storm came through and
blew down all the scaffolding, which added additional cost to the
construction project. Which coverage extension of the Builder's Risk
Coverage Form would cover the scaffolding?
A. Scaffolding, Construction Forms, and Temporary Structures
B. Debris Removal
C. Property in Transit
D. Preservation of Property - ANSWER✔✔ A. Scaffolding, Construction Forms,
and Temporary Structures
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