NC ADJUSTER LICENSE PRACTICE EXAM 2024
QUESTIONS WITH CORRECT ANSWERS ALREADY
PASSED AND VERIFIED
Manny is purchasing a Commercial Property policy with a Business Income form
included. Manny can select from any of the following as a method to provide coverage,
while avoiding the coinsurance requirement, EXCEPT: - CORRECT ANSWER The
maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is: - CORRECT ANSWER
Replacement cost minus depreciation
Sam and Dan are working to clean out the gutters around the roof on Sam's house. Sam
and Dan are standing at the top of separate ladders that are propped against the side of
Sam's house, when Dan's ladder begins to wobble and ultimately falls into Sam's ladder.
Both men and their ladders crash to the ground. Whose injuries will be covered by Sam's
Homeowners policy under Coverage E - Personal Liability? - CORRECT ANSWER
Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following, EXCEPT: -
CORRECT ANSWER Intentional torts purposely committed to cause harm to another.
The insured has a $1,000,000 personal umbrella policy with a $5,000 retention limit. For
a $7,000 liability loss not covered under the insured's personal auto policy, but covered
under the umbrella policy, the insurance company would pay: - CORRECT ANSWER
$2,000
, NC ADJUSTER LICENSE PRACTICE EXAM 2024
QUESTIONS WITH CORRECT ANSWERS ALREADY
PASSED AND VERIFIED
All of the following is considered an "insured" under a CGL policy, EXCEPT: -
CORRECT ANSWER Lawyers of the named insured
What specific type of liability policy gives an owner protection against liability claims
arising out of the acts of its independent contractors? - CORRECT ANSWER
Owners and Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a Businessowners policy? -
CORRECT ANSWER A small retail store
Which of the following is NOT a correct statement in determining the cost of a
"comparable automobile" when a physical damage loss has a occurred? - CORRECT
ANSWER The cost of a comparable automobile as determined by a computerized
automobile valuation service that produces statistically valid fair market values within the
United States market
All of the following statements are TRUE of North Carolina automobile liability policies,
EXCEPT - CORRECT ANSWER If the insured carries limits greater than the
minimum financial responsibility limits required by state law, they are not required to
carry Uninsured/Underinsured Motorists coverage.
The basic limit for Coverage F -- Medical Payments of the standard Homeowners forms
is: - CORRECT ANSWER $1,000 per person
QUESTIONS WITH CORRECT ANSWERS ALREADY
PASSED AND VERIFIED
Manny is purchasing a Commercial Property policy with a Business Income form
included. Manny can select from any of the following as a method to provide coverage,
while avoiding the coinsurance requirement, EXCEPT: - CORRECT ANSWER The
maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is: - CORRECT ANSWER
Replacement cost minus depreciation
Sam and Dan are working to clean out the gutters around the roof on Sam's house. Sam
and Dan are standing at the top of separate ladders that are propped against the side of
Sam's house, when Dan's ladder begins to wobble and ultimately falls into Sam's ladder.
Both men and their ladders crash to the ground. Whose injuries will be covered by Sam's
Homeowners policy under Coverage E - Personal Liability? - CORRECT ANSWER
Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following, EXCEPT: -
CORRECT ANSWER Intentional torts purposely committed to cause harm to another.
The insured has a $1,000,000 personal umbrella policy with a $5,000 retention limit. For
a $7,000 liability loss not covered under the insured's personal auto policy, but covered
under the umbrella policy, the insurance company would pay: - CORRECT ANSWER
$2,000
, NC ADJUSTER LICENSE PRACTICE EXAM 2024
QUESTIONS WITH CORRECT ANSWERS ALREADY
PASSED AND VERIFIED
All of the following is considered an "insured" under a CGL policy, EXCEPT: -
CORRECT ANSWER Lawyers of the named insured
What specific type of liability policy gives an owner protection against liability claims
arising out of the acts of its independent contractors? - CORRECT ANSWER
Owners and Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a Businessowners policy? -
CORRECT ANSWER A small retail store
Which of the following is NOT a correct statement in determining the cost of a
"comparable automobile" when a physical damage loss has a occurred? - CORRECT
ANSWER The cost of a comparable automobile as determined by a computerized
automobile valuation service that produces statistically valid fair market values within the
United States market
All of the following statements are TRUE of North Carolina automobile liability policies,
EXCEPT - CORRECT ANSWER If the insured carries limits greater than the
minimum financial responsibility limits required by state law, they are not required to
carry Uninsured/Underinsured Motorists coverage.
The basic limit for Coverage F -- Medical Payments of the standard Homeowners forms
is: - CORRECT ANSWER $1,000 per person
