MS Adjuster License Exam Questions And
Answers
In which of these situations could a Mississippi insurer cancel a policy after 60 days with
sufficient notice? The policyholder's son has his license suspended during the policy
period.
Bonnie's PAP includes Comprehensive coverage. Which of the...
In which of these situations could a Mississippi insurer cancel a policy after 60 days with
sufficient notice? 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? 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 amount of his injuries? 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. 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
, MS Adjuster License Exam Questions And
Answers
could protect ABC Convenience from financial loss associated with accepting the fake hundred
dollar bill? 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: competitive
The Employee Retirement Income Security Act (ERISA): 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? $10,000
in property damage and $25,000 in medical expense
Which of the following statements regarding scheduled fidelity bonds is FALSE? All
employees are bonded for the same aggregate amount.
, MS Adjuster License Exam Questions And
Answers
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? Collision coverage
If an insurer decides to cancel a personal auto policy (for a reason other than non-payment of
premiums) after the policy has been in effect for 60 days, the insurer must provide written notice
to the insured __________ in advance. 30 days
Acme Construction, Inc. has one contractor and one receptionist. The contractor makes $25/hr,
and the receptionist makes $10/hr. The contractor worked exactly 8 hours in 2010, so he made
$200. The receptionist worked 10 hours, so she made $100. Therefore, Acme's entire payroll for
2010 was $300. Assume that, for every $100 of payroll, the WC rate for contractors is $50 and
the rate for receptionists is $5. How much did Acme owe in WC premiums? $105
During a routine tooth extraction, Dr. Dentem administers too much laughing gas and causes
brain damage to his client. The family sues Dr. Dentem for failing to follow procedure. Which
kind of insurance would cover the cost of the lawsuit? Malpractice insurance
Sally has an HO-3 policy on her $150,000 home in the country. One day, a bear breaks down
Sally's back door to get into her kitchen for a snack. When Sally comes home to find the damage,
, MS Adjuster License Exam Questions And
Answers
she files a claim with her insurance company. Will the damage to Sally's home be covered, and
why or why not? Yes. The HO-3 is an open peril policy, without exclusion for wildlife.
Which of the following is similar to a Business Auto Policy, but adds several policy provisions
and protections specific to the trucking industry? NOT: Trip Transit policy
Which of the following is NOT one of the requirements that adjusters must meet in order to
handle NFIP claims? NOT: have at least four consecutive years of adjusting experience
OR Inform claimants that only the NFIP Servicing Agent or WYO company can make a final
decision on their claim
Which of the following insurers is NOT committing an unfair trade practice. ACME
Insurance is giving stock options to agents who exceed their sales quotas
ABC Insurance has a deal with Sunset Realty in which ABC compensates Sunset for requiring
all home buyers purchase their homeowners insurance from ABC an "object"
Which of the following is an example of a moral hazard? Ken lights a candle, sets it right
next to the window draperies and leaves the house to go to work
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