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NC Adjuster License Practice Exam (With Complete Solution) 100% Correct
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NC Adjuster License Practice Exam (With Complete Solution) 100% Correct
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NC Adjuster License Practice Exam (With Complete Solution) 2023 – 2024Manny is purchasing a Commercial Property policy with a Business Income form included. Manny
can select from any of the following as a method to provide coverage, while avoiding the
coinsurance requirement, EXCEPT: - The maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is: - Replacement cost minus depreciation
Sam and Dan are working to clean out the gutters around the roof on Sam's house. Sam and Dan are
standing at the top of separate ladders that are propped against the side of Sam's house, when
Dan's ladder begins to wobble and ultimately falls into Sam's ladder. Both men and their ladders
crash to the ground. Whose injuries will be covered by Sam's Homeowners policy under Coverage E
- Personal Liability? - Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following, EXCEPT: - Intentional
torts purposely committed to cause harm to another.
The insured has a $1,000,000 personal umbrella policy with a $5,000 retention limit. For a $7,000
liability loss not covered under the insured's personal auto policy, but covered under the umbrella
policy, the insurance company would pay: - $2,000
All of the following is considered an "insured" under a CGL policy, EXCEPT: - Lawyers of the named
insured
What specific type of liability policy gives an owner protection against liability claims arising out of
the acts of its independent contractors? - Owners and Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a Businessowners policy? - A small
retail store
,Which of the following is NOT a correct statement in determining the cost of a "comparable
automobile" when a physical damage loss has a occurred? - The cost of a comparable automobile as
determined by a computerized automobile valuation service that produces statistically valid fair
market values within the United States market
All of the following statements are TRUE of North Carolina automobile liability policies, EXCEPT - If
the insured carries limits greater than the minimum financial responsibility limits required by state
law, they are not required to carry Uninsured/Underinsured Motorists coverage.
The basic limit for Coverage F -- Medical Payments of the standard Homeowners forms is: - $1,000
per person
Oliver Dogwood was in an auto accident which destroyed his car. While investigating the accident,
Adjuster Doright found that Mr. Dogwood paid $1,000 for the vehicle. After checking with others he
found the same vehicle with an asking price of $1,700, a retail price of $2,150 and a dealer price of
$1,750. What amount will Mr. Dogwood receive? - $2,150
When a claims representative is collecting information from a third-party claimant, which of the
following is the information that should be obtained first? - The nature and extent of the injuries or
property damage claimed.
The Business Auto uses Symbol 7 to cover "specifically described autos" identified in the
declarations. An auto acquired during the policy period will only be covered: - If the insured insures
all of their vehicles with the company or it replaces a covered auto..
What coverage under the BOP automatically applies if a customer slips and falls on the named
insured's premises, regardless of legal liability? - Medical expense coverage
When an insurer is called upon to defend a suit under a CGL policy, the amount that can be paid for
the defense costs is: - Not limited
Any North Carolina lender in making or servicing real estate mortgage or deed of trust loans on one
to four family residences must accept a binder as proof of insurance. The binder presented to the
, lender must include all of the following, EXCEPT - A sworn statement that the insurance will be kept
in force.
Which of the following statements is TRUE concerning Part A - Liability coverage on a standard
Personal Automobile policy? - The coverage is provided only for accidents caused by those who are
"insureds" under the policy..
Which of the following is NOT a reason to purchase a Dwelling policy instead of a Homeowners
policy? - The Dwelling policy provides higher limits of liability than the Homeowners policy..
Which of the following is NOT excluded by Section II - Liability of the Business Automobile policy? -
Cost to defend the insured
The insured and her 18-year-old son, who lives in the insured's household, are crossing the street
when both of them are struck by a drunk driver. The Part B - Medical Payments coverage of the
insured's personal auto policy will: - Provide coverage for both the insured and her son
All of the following are types of rehabilitative services provided under a workers' compensation
policy, EXCEPT: - Substance abuse
Which of the following statements defines a "bailee"? - Someone, other than the insured, to whom
the insured property is entrusted temporarily.
In North Carolina, the motor vehicle liability policy law requires owners of motor vehicles to carry
limits of: - $30/60/25
Many states amend property insurance coverage additions and extensions by statute due to
insufficient coverage amounts or time limits. All of the following are property insurance additions
or extensions that are frequently amended by state statute, EXCEPT: - Other Structures
How are household personal property claims settled under the farm policy? - Actual cash value
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