Illinois Public Adjuster Exam.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Illinois%20Publ
Illinois Public Adjuster Actual Exam Questions &
Verified Answers
1. ProgramTrigger for terrorist acts must cause a collective damage in excess of?
Answer • $100,000,000
2. TF A public adjuster may own no more than 50% in a salvage or similar business?
Answer • F
3. General Average
Answer • Loss shared by all parties
4. Particular Average
Answer • Only one party shares in the loss.
5. In a home owner policy there is no deductible for
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Answer • Liability Coverage
6. In BOP covered property is listed and described in what part of the con- tract?
Answer • Declarations page
7. What is not eligible for coverage under a livestock floater?
Answer Poultry
8. What type of carrier must assume the broadest liability under common law?
Answer Common carriers
9. Named insured is never a ?
Answer Lien Holder. Must have insurable interest in the property.
10. How much extra coverage does the BOP allow for building code updates on a loss?
Answer $10,000
11. HO-3 only covers for jewelry?
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Answer Actual Cash Value
12. Promise by one party that is conditioned on an uncertain event and where the value
given by each party is unequal is called?
Answer Aleatory
13. An insurer has days to complete their investigation of a claim?-
Answer 30 days
14. Farm insurance coverage G covers?
Answer Silos
15. Under equipment breakdown coverage, the full replacement cost will be provided if
the equipment is repaired in what time period after a loss?
Answer 24 months.
16. In the newest edition of the commercial property form, what is now con- sidered
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