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MS adjuster license exam Questions and Answers (Latest Update 2023)RATED A+
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MS adjuster license exam Questions and Answers (Latest Update 2023)RATED A+
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MS adjuster license exam Questions and Answers (Latest Update 2023)RATED A+Jerome was shopping at ABC Imports when a light fixture fell from the ceiling
and hit him on the head. Jerome's injuries resulted in an extended hospital stay, so he sued ABC Imports and was awarded $400,000. Assuming ABC Imports carries a CGL with a General Aggregate of $750,000 and a per occurrence limit of $250,000, what is the maximum that ABC's insurer will pay for Jerome's injuries? - correct answer ✅$250,000
Strict Liability: - correct answer ✅holds a person liable for his actions regardless of how much care he demonstrates.
Wendy hires Jim to build an addition to her house. Jim takes the job and finishes it in good time. Unfortunately, as Wendy is walking across the threshold of the new addition, a floorboard gives way and Wendy falls into the crawl-space below, injuring her leg and back. Which commercial general liability coverage could help cover the cost of Wendy's injuries? - correct answer ✅Completed Operations Liability
In which case would the insured be indemnified by her auto liability coverage? - correct answer ✅NOT: None; liability coverage never indemnifies the insured. OR she causes property damage to her neighbor
MS adjuster license exam Questions and Answers (Latest Update 2023)RATED A+ MS adjuster license exam Questions and Answers (Latest Update 2023)RATED A+
Lucille owns her own woodworking business, building custom items such as dressers, wooden trunks, and mantelpieces. A fire destroys her entire operation and Lucille files a claim with her insurer. Which of the following would be covered under Coverage A of the Building and Personal Property Coverage Form in her commercial property policy? - correct answer ✅A bandsaw permanently affixed to the floor
In which of these situations could a Mississippi insurer cancel a policy after 60 days with sufficient notice? - correct answer ✅The policyholder's son has
his license suspended during the policy period.
Bonnie's PAP includes Comprehensive coverage. Which of the following losses could this coverage pay for? - correct answer ✅Bonnie's car catches fire
Sam suffers $6,000 in injuries when Nicole runs a red light and crashes her uninsured car into Sam's. Sam's own insurance company, ABC Insurance, immediately pays him $5,000 for his injuries. Sam then ponders whether to file a $6,000 lawsuit against Nicole. Why can't Sam sue Nicole for the full MS adjuster license exam Questions and Answers (Latest Update 2023)RATED A+ MS adjuster license exam Questions and Answers (Latest Update 2023)RATED A+
amount of his injuries? - correct answer ✅By accepting payment from ABC Insurance, Sam subrogated a portion of his rights against Nicole to ABC Insurance.
In order to be a licensed adjuster, a person must be at least ____ years old. - correct answer ✅18
Grant works at ABC Convenience. One day, a man pulls up in an expensive car and pays cash for his gas with a hundred dollar bill. Grant accepts the bill without checking its validity. When Grant's manager checks the bill later, he discovers it is a fake. Which commercial crime coverage could protect ABC Convenience from financial loss associated with accepting the fake hundred dollar bill? - correct answer ✅Money orders and counterfeit paper currency
States that allow private insurers to offer workers' comp coverage as an alternative to the state workers' comp fund are called: - correct answer ✅competitive
MS adjuster license exam Questions and Answers (Latest Update 2023)RATED A+ MS adjuster license exam Questions and Answers (Latest Update 2023)RATED A+
The Employee Retirement Income Security Act (ERISA): - correct answer ✅requires that every fiduciary of an employee benefit plan and every person who handles funds or other property of those plans must be bonded
Bill lives in Mississippi and has the minimum auto liability coverage required for the state. He causes an accident that results in $35,000 in property damage and $50,000 in bodily injury to another person. How much will Bill have to pay out of pocket for this accident? - correct answer ✅$10,000 in property damage and $25,000 in medical expense
Which of the following statements regarding scheduled fidelity bonds is FALSE? - correct answer ✅All employees are bonded for the same aggregate
amount.
D'Anton spills coffee in his lap while driving, causing him to veer off the road and smash into a telephone pole. Which part of his Auto Insurance Policy will help him pay for the repairs to his car? - correct answer ✅Collision coverage
MS adjuster license exam Questions and Answers (Latest Update 2023)RATED A+
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