GA Claims Adjuster Licensing Exam Latest 2023 Already Passed
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Course
DDS
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DDS
What coverage does Community Eligibility apply to? Flood insurance through FEMA
What's the difference between Emergency Program and Regular Program in the National Flood
Insurance Program? Emergency applies to homes in communities that are a normally not a
flood hazard. Regular programs are awar...
ga claims adjuster licensing exam latest 2023 alre
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GA Claims Adjuster Licensing Exam
Latest 2023 Already Passed
What coverage does Community Eligibility apply to? ✔✔Flood insurance through FEMA
What's the difference between Emergency Program and Regular Program in the National Flood
Insurance Program? ✔✔Emergency applies to homes in communities that are a normally not a
flood hazard. Regular programs are awarded to an entire community that is eligible due to flood
hazard.
What is the flood coverage on a regular program in a 1-4 Family Dwelling? ✔✔$250,000
On what policy can you add the Flood Program endorsement? ✔✔None! It has its own policy
through the Federal Government.
Difference in Conditions (DIC) Insurance ✔✔A separate insurance policy that provides open-
perils coverage to fill in the gaps left by flood coverage if a home is worth over $250K.
Coverage is produced through Excess/Surplus Lines.
What is the waiting period on NFIP coverage? ✔✔30 days after policy purchase
,What is the coverage change waiting period for the NFIP? ✔✔5 days
Give examples of the flood peril ✔✔- an overflow of inland or tidal waters
- unusual or rapid accumulation or runoff of surface waters
-Mudflow or Mudslide
- Collapse of land along the shore of a lake as a result of erosion
What kinds of things does flood insurance cover? ✔✔Your house and your things (dwelling and
personal property). No indirect charges.
Dwelling coverage extension for flood insurance covers what? How much is it? ✔✔Structures
not attached to dwelling (O.S. or Appurtenant structures). 10% of Dwelling limit. ***It is an
extension of coverage, NOT the $250K limit so any coverage needed here will reduce the
amount able to go to the dwelling.
Contents coverage of flood insurance is limited to what? ✔✔Personal property damaged or
destroyed by the flood itself and belongs to insured and resident spouse/relatives. The insured is
liable for content of others.
,What are the coverages of flood insurance? ✔✔Dwelling, Contents, Debris Removal
How are damaged items valued in flood coverage? ✔✔Dwelling - replacement cost
Contents - Actual Cash Value
What kind of property is not covered by flood insurance? ✔✔Basements and underground
structure (ex. septic tanks), animals, money/accounts/bills, land, anything else covered by other
policies (motor vehicles, aircraft, watercraft)
Loss Valuation on flood insurance ✔✔(amount of insurance purchased/80% Dwellings Total
replacement cost) x Loss Amount
Standard deductible on flood insurance ✔✔$1K for Dwelling and $1K for Content
Personal Inland Marine Insurance ✔✔Floaters or policies for world-wide coverage of personal
property on an open-peril basis.
, Is flood excluded from Personal Inland Marine Insurance? ✔✔NOPE. It's covered!
What are the floaters available on Personal Inland Marine Insurance? ✔✔Personal Articles
Floaters, Personal Property Floaters, and Personal Effects Floaters
What perils are covered under Personal Inland Marine Insurance floaters? ✔✔all; open-peril
Which PIMI floater would be appropriate for a diamond ring? Why? ✔✔Personal Articles
Floater - itemizes valuables such as jewelry and furs
What is a Personal Effects Floater good for? What deductible does it have? ✔✔world-wide open
peril coverage of personal property for people who are traveling - luggage, sports equipment,
clothes, and camera. NO DEDUCTIBLE.
What is a Personal Property Floater good for? What kind of limit do they have? ✔✔World-wide
open peril coverage of personal property - usually for special occasions like weddings or
exhibitions. There is a blanket limit!
Does personal inland marine insurance cover flood? ✔✔Yes. Somehow.
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