MS adjuster license exam ||303||questions with correct answers

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 ANS $250,000 Strict Liability: CORRECT ANS 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 ANS Completed Operations Liability In which case would the insured be indemnified by her auto liability coverage? CORRECT ANS NOT: None; liability coverage never indemnifies the insured. OR she causes property damage to her neighbor 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 ANS 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 ANS 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 ANS 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