Texas all lines adjuster exam 378 Questions with 100% Correct Answers 36 Pages

Texas all lines adjuster exam 378 Questions with 100% Correct Answers 36 Pages All of the following are criteria for an accident to have occurred "in the course of" the employment under a workers' compensation policy, EXCEPT: While performing a task that a fellow worker requested, that was unusual to the employee's job description, but occurred on the employer's premises during working hours. Which of the following statements is NOT TRUE regarding the implied warranties of an Ocean Marine policy? The implied warranties are attached to the policy as an endorsement.. Parmelia is covered under two separate standardized Personal Automobile policies, with Part C limits under both policies set at $200,000. Parmelia is involved in an accident with an uninsured motorist and she sustains bodily injury damages for $262,320. How much will Parmelia receive when she submits a claim for these damages $200,000 Which of the following endorsements must be attached to a standard Businessowners policy for coverage to apply to a businesses freezer that was damaged by the interruption of a power source Utility Services - Direct Damage endorsement. After completing an inspection of an insured's pressure equipment and fire suppression systems, the inspector determines that the pressure equipment needs to be repaired and the suppression systems have not been cleaned and inspected in the time frame required by the policy. The insurer will: Suspend coverage immediately by red tagging the items until they are repaired, cleaned and pass reinspection To be eligible for coverage under a standardized Dwelling policy, the insured must not allow more than _______ boarders to live on the premises. 5 All of the following are "Perils of the Sea" under an Ocean Marine policy, EXCEPT: Pirates The amount of insurance countersigned, issued, or sold by an agent or producer to cover immediate family members, an employer, or employees is known as: Controlled business Which of the following standardized Dwelling insurance forms provides coverage for loss of rental income The DP-1, DP-2, and DP-3 forms The "Part B - Medical Payments" coverage of a personal automobile policy covers injuries for all of the following, EXCEPT: A passenger who is injured in another vehicle that is struck by the insured's vehicle in an accident Which of the following are the Texas Workers' Compensation benefits that are increased by a cost-of-living adjustment (COLAs) Lifetime Income Benefits (LIBs) only Hannah must take time away from work to help assist in the investigation of a claim that was made against her BOP policy. The policy will pay for Hannah's actual loss of earnings up to: $250 per day. Surplus Lines companies in Texas have _____ to acknowledge the receipt of a claim. 30 days. All of the following are characteristics of a principal that a surety will scrutinize during the underwriting process, EXCEPT: Consideration. Under Section II of a Homeowners policy, a cemetery plot owned by the insured is considered to be: An insured location. Which of the following is NOT one of the four major coverages of an Ocean Marine policy? Seaworthiness. A ship has suffered damage and sunk. Which of the following would respond to cover the loss of the ship? Hull Insurance. As a fiduciary agent, an adjuster has the power to bind the insurer. Which of the following statements is FALSE regarding this power? Only an adjuster's written statements can legally bind an insurer. The standardized Dwelling forms consider all eruptions of a volcano within a __________ period to be a single "occurrence". 72-hour Whose responsibility is it to complete a "proof of loss"? The claimant. Which of the following would NOT be determined by a court when an insurer has filed a declaratory judgment action? The type and amount of damages that will be paid to a plaintiff for the claim that is being disputed. Which of the following statements is TRUE regarding the Homeowners "additional coverage" known as Landlord's Furnishings? The coverage is not additional insurance and does not increase the limits of the policy. Which of the following would be covered under the Jones Act? Crew members of a ship. All of the following statements are true regarding a Personal Liability Supplement, EXCEPT: The policy will cover watercraft liability. Which of the following statements is TRUE regarding Commercial Property coverage? Commercial property coverage can be written as both a monoline policy and as part of a package policy. What type of insurance is usually provided or subsidized by the state or federal government because it is not ordinarily available from private insurers? Residual market insurance. The optional coverage for "Employee Dishonesty" under a standard Businessowners policy provides a "discovery period" for the insured to discover the dishonest act and have coverage still apply. Which of the following statements best describes the "discovery period" for this optional coverage? The "discovery period" is one year from the end of the policy period. Which of the following would be considered an Unfair Claim Settlement Practice? Failing to deny coverage of a claim within a reasonable amount of time after concluding the investigation Which of the following is TRUE regarding the DP-2 Broad Form coverage for "artificially generated electrical current"? A fire must be the result of the artificially generated electrical current for coverage to apply.. The Commercial Building and Personal Property coverage form provides five extensions of coverage, but only if: An 80% or higher coinsurance percentage is shown on the Declarations page, and the property amount of coverage, based on that percentage, is purchased. All of the following would be considered "uninsured motorists", EXCEPT: A motorist driving with coverage up to the required state financial responsibility limits for liability, but not high enough to pay the claims for an at-fault accident. Regulation of the insurance industry in the United States is primarily left to: State governments. Which of the following coverages does NOT need to be added to a Garage Coverage form by endorsement for coverage to apply? Collision. Chaz takes his girlfriend to an expensive restaurant for Valentine's Day. It is raining, so he decides to have the valet park his car, saving his girlfriend from getting wet. The valet is driving the car into the restaurant's parking garage, when he clips the side of the garage entrance with the front fender of Chaz's car. The garage wall needs to be repaired as well as the fender and headlight of Chaz's car. How would Part D of Chaz's Personal Automobile respond to this loss? It would cover the loss to Chaz's car because it is the insured automobile, but would not cover the damage to the garage.. Which of the following statements is TRUE regarding the coverage extension of the standard Businessowners policy for "Business Personal Property Temporarily in Portable Storage Units"? Coverage will not apply if the storage unit has been on the insured premises for longer than 90 days, even if the business personal property has only been stored there for less than 90 days. Which of the following would be considered a Part D - Other Than Collision claim under a Personal Automobile claim? A load of bricks falling from an apartment building onto the car. The Section I Additional Coverage of the standard Businessowners policy provides coverage for "Debris Removal". Which of the following statements best describes the limit for this coverage? The total limit may be up to 25% of the policy limit for the loss payable with the deductible included, plus up to an additional $25,000 if the policy limits are exhausted An agent, insured or claimant has intentionally deceived an insurer for financial gain. Such an act is known as: Fraud Which of the following losses would be covered under a Commercial Property policy with the special cause of loss form attached? A fire that breaks out in an office building and causes damage to two of the offices.. If the Navigational Limits or Lay-Up period shown on the Declarations page of a standardized Yacht policy is breached because of something out of the control of the insured: The insurer must be notified within 10 days after the breach and any additional premium that is due must be paid. Which of the following is NOT eligible for a coverage under a Homeowners insurance policy? Owner-occupants of a 5 to 6-family dwelling Cameron has his home covered under a Homeowners policy and his limit for bodily injury is $100,000. He also purchased a Personal Umbrella policy with a $1,000,000 limit of liability. Cameron is sued and a judgement was made against him for $500,000. To trigger his Umbrella policy, his Homeowners policy must pay $100,000, but he finds that the insurance company from which he purchased his Homeowners policy has become insolvent. How will the Umbrella insurer pay the claim (disregarding any retention limit)? The Umbrella policy will not become primary when the insurer carrying the underlying insurance becomes insolvent, but will pay the $400,000 as if the underlying insurer had paid its $100,000 limit of liability.. The additional coverage for debris removal under the standardized Building and Personal Property coverage form will only be paid if: The insured reports the debris removal expenses to the insurance company in writing within 180 days of the loss.. The insured is covered under a Watercraft policy and asks the agent about a lay-up period credit to get a reduction in the premium. The dates of the lay-up period are specified in the policy. There is an emergency and the insured must use his boat in a life saving event. The boat is damaged and sinks. Under what circumstances would coverage apply? Only if the insurance company is notified within 10 days of the emergency use Which of the following coverage parts would be eligible for inclusion in a Commercial Package policy? Professional liability coverage. When an insurer files a declaratory judgement action with a court of law, all of the following questions will be resolved by the court, EXCEPT: Will the insurer become insolvent if they pay the claim as submitted by the insured? An insured is covered under a CGL policy. He would like to purchase another policy to increase the limits of insurance for his commercial liability exposures. Which of the following statements is correct regarding the insured's situation? The insured may purchase either a Commercial Umbrella or an Excess Liability policy to increase his liability insurance limits.. Which of the following statements defines a "bailee"? Someone, other than the insured, to whom the insured property is entrusted temporarily. The crew of a ship is guilty of fraud with the intention of reaping gains at the expense of the owner. In ocean marine coverage, what is this called? Barratry. Symbol 23 is designated on the insured's Garage Coverage form. This indicates that: That owned private passenger autos only are covered.. An applicant fails to disclose known facts when completing an application for insurance. This act is known as: Concealment All of the following are correct statements regarding the limits of liability under Part A of a Personal Auto policy, EXCEPT: When the Part A limits are exhausted, any limits for Uninsured Motorists coverage can be used to pay the entire claim.. If a covered business is a limited liability company, the standard Businessowners policy provides coverage for all of the following "insureds", EXCEPT: Executive director.. The HO-3 form insures for direct physical loss to covered property involving collapse of a building caused by all of the following, EXCEPT: Settling. All of the following statements are TRUE if Builders' Risk coverage is written on a completed value basis, EXCEPT All premiums must be paid up front before construction can begin.. A non-waiver agreement allows the insurer to: Investigate a loss without implying that it is covered Which of the following sections of an Ocean Marine policy is very similar to the "Duties of the Insured" in other property policies? The Sue and Labor clause Coverage under a standard Personal Watercraft policy extends to all of the following, EXCEPT: The crew of the boat for medical payments Loss to insured property caused by self-propelled missiles is covered under which of the following perils of the Homeowners form? Aircraft. The importance of an "Insured or Witness Investigation" is that: Obtaining their statements is very important in determining who is liable Which of the following basic coverages are provided under a Standard Fire policy? Fire, lightning and removal.. All of the following statements regarding the Commercial Package Policy are correct, EXCEPT: Commercial Package Policies can include Ocean Marine and Aviation Insurance coverage. . Ellen's automobile is stolen. The theft is properly reported to the police and the insurance company. She rents a car for two months. Which of the following would apply for the rental car? After a waiting period of 48 hours, her policy will pay $20 per day up to a maximum of $600 The insured carries an unendorsed DP-3 dwelling policy on his home and personal contents. While traveling abroad someone broke into the home and stole $200 in cash, a shotgun valued at $1,000, and other household items valued at $2,000. Damage caused by the burglars is $1,500. Assuming no deductible applies to their coverage how much would be paid? $1,500 If the disability for a worker in Texas continues for more than one week, weekly income benefits begin to accrue: On the 8th day after the disability began