INSURANCE ADJUSTING EXAM 2024/2025 NEWEST!!! COMPLETE
ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS
( EXPERT VERIFIED SOLUTIONS )ALREADY GRADED A+.
After a heavy rain, the river running through randy's farm rose so high that it
flooded part of his barley crop. The flood cost $3,000 in damage to his $20,000
crop. Randy's crop insurance policy has a 5% threshold. Based on this
information, how much will Randy's insurer pay him for his loss?
$3,000
After a loss, the insured farmer will typically have to do all of the following,
EXCEPT
Plant a new crop within 72 hours
Which of the following statements about multi-peril crop insurance is false?
It covers losses from poor farming practices
In a typical commercial property policy, an insured building is considered
"vacant" when:
For 60 days or less then 31% of its available sqft occupied
Which of the following will not appear on the declaration page of
a commercial property policy?
Covered perils
When Shawn purposely sets fire to Jims restaurant, Jim was covered under
his commercial property policy. Which condition would allow Jims insurer to
attempt to reclaim those damages from Shawn?
Subrogation
Tom leaves his personal laptop at Smith & Co. so a colleague can work on a
presentation. While the laptop is in the care of Smith & Co., it is destroyed by
,a fire in the break room. The laptop was worth $3,200. How much
indemnification would Smith & Co.'s Business and Personal Property Form
provide for the damaged laptop?
$2,500 sublimit
In the business and personal property form of a commercial property,
coverage A- building and structures coverage would apply to which of the
following features of a commercial enterprise? A 40-ton printing machine
affixed to a factory floor
In the business and personal property form of a commercial property,
coverage B- business personal property coverage applies to all of the following
except commercial floors
Which of the following is not a universal commercial policy exclusion?
Lightning
Cyril recently purchased a machining shop concealment,
misrepresentation, fraud
"permanently installed fixtures" would fall under which coverage of a
commercial property policy?
Building and structures
The newly acquired property extension in a commercial property policy
provides ______________ in coverage for buildings under construction at the
insured premises, or for any newly acquired business property off the insured
premises $250,000
A fire in the break room kitchen of Helen's small business spreads into the
utility room, damaging the computer server. Her server is physically
destroyed., along with a lot of vital information
Electric Data
,Extended coverage under a commercial policy often provides coverage for
damage to outdoor trees, plants, and shrubs. When covered, what is the
maximum per-plant amount?
$250
When a gas line explodes close to Georgia's business, it destroys most of her
landscaping, leveling trees and uprooting shrubs. Which coverage extension
could help cover the cost of replacing these plants?
Outdoor property
Celina's business is growing and she needs more space for her inventory. A
week ago, a crew started work on constructing a new business on premises
Newley Acquired Property
John purchased some business property a few years ago. In the past two years
the property value has grown 4% each year
Inflation Guard
Grace owns a high-end tea shop and, to improve the ambiance, has purchased
some old antique furniture and statues
Agreed Value
Jim has several trailers in the supply yard of his business which belong to his
respective buyers. Jim's business loads the trailers and then contracts with
another company to ship the goods to their final destination. One day while
loading up a trailer, Jim accidentally pierced the side of a covered trailer with
his forklift. The damage to the trailer would be covered by the _____________
coverage extension. Non-owned detached Trailers
Matt, a real estate developer, must submit a report to his insurer every 30
days listing the value of all his properties over the past month. In turn, the
insurer adjusts Matt's premiums based on the values he submits. Which
optional coverage does Matt subscribe to?
, Value Reporting
In a commercial property policy, Extra Expense Coverage provides
indemnification to the policyholder for additional expenses incurred during
which of the following time frames?
From the point of initial damage until the moment the business is up and
running again
ABC Paving owns a warehouse where they store all their pavers. Lightning
strikes the warehouse, which burns to the ground and destroys the entire fleet
of pavers. In order to complete the projects they are currently working on,
ABC Paving has to lease four pavers from another company. What
commercial insurance coverage might pay for this expense?
Extra Expense
Which of the following terms refers to the time elapsed between a coverage
loss to a commercial building and the return of full business operations of the
same building? Period of restoration
In a commercial property policy, Business Income Coverage would pay for
which of the following expenses?
Rent
XYZ Carpet Manufacturing's main factory burns down during the night due
to faulty electrical wiring. No longer able to manufacture carpeting, XYZ
Carpet faces a serious cash flow dilemma. Which insurance coverage might
help pay XYZ Carpet's bills while the factory is repaired?
Business Income coverage
Helen owns a manufacturing company. She maintains a commercial property
policy that includes Business Income and Extra Expense Coverage. One
evening, a windstorm blows a tree through the side of the building, leaving a
hole in the wall
ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS
( EXPERT VERIFIED SOLUTIONS )ALREADY GRADED A+.
After a heavy rain, the river running through randy's farm rose so high that it
flooded part of his barley crop. The flood cost $3,000 in damage to his $20,000
crop. Randy's crop insurance policy has a 5% threshold. Based on this
information, how much will Randy's insurer pay him for his loss?
$3,000
After a loss, the insured farmer will typically have to do all of the following,
EXCEPT
Plant a new crop within 72 hours
Which of the following statements about multi-peril crop insurance is false?
It covers losses from poor farming practices
In a typical commercial property policy, an insured building is considered
"vacant" when:
For 60 days or less then 31% of its available sqft occupied
Which of the following will not appear on the declaration page of
a commercial property policy?
Covered perils
When Shawn purposely sets fire to Jims restaurant, Jim was covered under
his commercial property policy. Which condition would allow Jims insurer to
attempt to reclaim those damages from Shawn?
Subrogation
Tom leaves his personal laptop at Smith & Co. so a colleague can work on a
presentation. While the laptop is in the care of Smith & Co., it is destroyed by
,a fire in the break room. The laptop was worth $3,200. How much
indemnification would Smith & Co.'s Business and Personal Property Form
provide for the damaged laptop?
$2,500 sublimit
In the business and personal property form of a commercial property,
coverage A- building and structures coverage would apply to which of the
following features of a commercial enterprise? A 40-ton printing machine
affixed to a factory floor
In the business and personal property form of a commercial property,
coverage B- business personal property coverage applies to all of the following
except commercial floors
Which of the following is not a universal commercial policy exclusion?
Lightning
Cyril recently purchased a machining shop concealment,
misrepresentation, fraud
"permanently installed fixtures" would fall under which coverage of a
commercial property policy?
Building and structures
The newly acquired property extension in a commercial property policy
provides ______________ in coverage for buildings under construction at the
insured premises, or for any newly acquired business property off the insured
premises $250,000
A fire in the break room kitchen of Helen's small business spreads into the
utility room, damaging the computer server. Her server is physically
destroyed., along with a lot of vital information
Electric Data
,Extended coverage under a commercial policy often provides coverage for
damage to outdoor trees, plants, and shrubs. When covered, what is the
maximum per-plant amount?
$250
When a gas line explodes close to Georgia's business, it destroys most of her
landscaping, leveling trees and uprooting shrubs. Which coverage extension
could help cover the cost of replacing these plants?
Outdoor property
Celina's business is growing and she needs more space for her inventory. A
week ago, a crew started work on constructing a new business on premises
Newley Acquired Property
John purchased some business property a few years ago. In the past two years
the property value has grown 4% each year
Inflation Guard
Grace owns a high-end tea shop and, to improve the ambiance, has purchased
some old antique furniture and statues
Agreed Value
Jim has several trailers in the supply yard of his business which belong to his
respective buyers. Jim's business loads the trailers and then contracts with
another company to ship the goods to their final destination. One day while
loading up a trailer, Jim accidentally pierced the side of a covered trailer with
his forklift. The damage to the trailer would be covered by the _____________
coverage extension. Non-owned detached Trailers
Matt, a real estate developer, must submit a report to his insurer every 30
days listing the value of all his properties over the past month. In turn, the
insurer adjusts Matt's premiums based on the values he submits. Which
optional coverage does Matt subscribe to?
, Value Reporting
In a commercial property policy, Extra Expense Coverage provides
indemnification to the policyholder for additional expenses incurred during
which of the following time frames?
From the point of initial damage until the moment the business is up and
running again
ABC Paving owns a warehouse where they store all their pavers. Lightning
strikes the warehouse, which burns to the ground and destroys the entire fleet
of pavers. In order to complete the projects they are currently working on,
ABC Paving has to lease four pavers from another company. What
commercial insurance coverage might pay for this expense?
Extra Expense
Which of the following terms refers to the time elapsed between a coverage
loss to a commercial building and the return of full business operations of the
same building? Period of restoration
In a commercial property policy, Business Income Coverage would pay for
which of the following expenses?
Rent
XYZ Carpet Manufacturing's main factory burns down during the night due
to faulty electrical wiring. No longer able to manufacture carpeting, XYZ
Carpet faces a serious cash flow dilemma. Which insurance coverage might
help pay XYZ Carpet's bills while the factory is repaired?
Business Income coverage
Helen owns a manufacturing company. She maintains a commercial property
policy that includes Business Income and Extra Expense Coverage. One
evening, a windstorm blows a tree through the side of the building, leaving a
hole in the wall
