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NC Adjuster License Practice Exam/135 Questions & Answers: A+ Guide Solution
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NC Adjuster License Practice Exam/135 Questions & Answers: A+ Guide Solution
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NC Adjuster License Practice Exam/135Questions & Answers: A+ Guide Solution
Manny 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
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