,10/27/24, 11:02 AM TEXAS ALL LINES ADJUSTER EXAM BRAND NEW!! 2024-2025 (200+ QUESTIONS AND CORRECT ANSWERS) VERIFIED A…
Acme Corp. requested A performance bond.
three bids from different
contractors for the
construction of its new
office building. Acme
accepted the lowest bid
from Corbett's
Contracting and entered
into a contract to have the
office building
constructed. After
construction was
completed, Corbett's
presented Acme with a bill
for construction costs
over and above the
amount of the bid that was
agreed to in the contract.
Which of the following
types of bonds would
protect Acme from paying
the additional costs?
The additional coverage The insured reports the debris removal expenses to
for debris removal under the insurance company in writing within 180 days of
the standardized Building the loss..
and Personal Property
coverage form will only
be paid if:
The additional coverage $15,000 coverage for all occurrences within a 12-
of the Commercial month period.
Property cause of loss
forms known as the
"Limited Coverage for
Fungus, Wet Rot, Dry Rot,
and Bacteria" provides:
, 10/27/24, 11:02 AM TEXAS ALL LINES ADJUSTER EXAM BRAND NEW!! 2024-2025 (200+ QUESTIONS AND CORRECT ANSWERS) VERIFIED A…
Adele Sullivan's car is hit Subrogation
from the rear by Clarence
Brown's car. Mrs. Sullivan's
insurance company pays
her claim under her
physical damage
coverage and makes a
claim against Mr. Brown's
insurance company for the
same amount. This process
is called:
An adjuster has uncovered Send a reservation of rights letter to the insured's last
some discrepancies in known address.
matters pertaining to a
claim, and is unable to
contact the insured to
discuss these matters.
What should the adjuster
do in this situation?
Adjusters in Texas must 50%
complete at least _____ of
the continuing education
required to renew their
license in a classroom or
classroom equivalent
setting
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