PUBLIC ADJUSTER UPDATED ACTUAL
QUESTIONS AND VERIFIED ANSWERS
●● TF A public adjuster may own no more than 50% in a salvage or
similar business?
Answer: • F
●● General Average
Answer: • Loss shared by all parties
●● Particular Average
Answer: • Only one party shares in the loss.
●● In a home owner policy there is no deductible for
Answer: • Liability Coverage
●● In BOP covered property is listed and described in what part of the
contract?
Answer: • Declarations page
●● What is not eligible for coverage under a livestock floater?
Answer: Poultry
,●● What type of carrier must assume the broadest liability under
common law?
Answer: Common carriers
●● Named insured is never a _______?
Answer: Lien Holder. Must have insurable interest in the property.
●● How much extra coverage does the BOP allow for building code
updates on a loss?
Answer: $10,000
●● HO-3 only covers ___________ for jewelry?
Answer: Actual Cash Value
●● 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
●● An insurer has ________ days to complete their investigation of a
claim?
Answer: 30 days
, ●● Farm insurance coverage G covers?
Answer: Silos
●● 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.
●● In the newest edition of the commercial property form, what is now
considered part of the building?
Answer: Vegetated roofs
●● Which Dwelling forms provide broad form coverage for personal
property?
Answer: DP-2 and DP-3
●● The homeowner personal property replacement cost endorsement
would pay replacement cost for ___________?
Answer: Used clothing
●● An insurer must acknowledge receipt of a claim within _______
working days?
Answer: 10
QUESTIONS AND VERIFIED ANSWERS
●● TF A public adjuster may own no more than 50% in a salvage or
similar business?
Answer: • F
●● General Average
Answer: • Loss shared by all parties
●● Particular Average
Answer: • Only one party shares in the loss.
●● In a home owner policy there is no deductible for
Answer: • Liability Coverage
●● In BOP covered property is listed and described in what part of the
contract?
Answer: • Declarations page
●● What is not eligible for coverage under a livestock floater?
Answer: Poultry
,●● What type of carrier must assume the broadest liability under
common law?
Answer: Common carriers
●● Named insured is never a _______?
Answer: Lien Holder. Must have insurable interest in the property.
●● How much extra coverage does the BOP allow for building code
updates on a loss?
Answer: $10,000
●● HO-3 only covers ___________ for jewelry?
Answer: Actual Cash Value
●● 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
●● An insurer has ________ days to complete their investigation of a
claim?
Answer: 30 days
, ●● Farm insurance coverage G covers?
Answer: Silos
●● 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.
●● In the newest edition of the commercial property form, what is now
considered part of the building?
Answer: Vegetated roofs
●● Which Dwelling forms provide broad form coverage for personal
property?
Answer: DP-2 and DP-3
●● The homeowner personal property replacement cost endorsement
would pay replacement cost for ___________?
Answer: Used clothing
●● An insurer must acknowledge receipt of a claim within _______
working days?
Answer: 10
