TEXAS ALL LINE ADJUSTER ACTUAL EXAM LATEST
2024/2025 QUESTIONS AND VERIFIED CORRECT ANSWERS/
ALREADY GRADED A++
Ocean Marine does NOT cover -ANSWER Pollution
Type of Vessels Marine does NOT cover -ANSWER Pirate ships
Highest court (Marine) -ANSWER Admiralty Court
Sharing the risk/loss (Marine) -ANSWER General Average
Adjuster of marine losses -ANSWER Average adjuster
Stealing or sinking a ship -ANSWER Barratry
To protect: Imports, Exports, Shipments, Bailee & Dealer property -
ANSWER Inland Marine Insurance
Timeline for processing Inland Marine claims -ANSWER 30 days of receipt
Voluntarily receive the property of others -ANSWER Bailee
Owner of held property -ANSWER Bailor
Block policy -ANSWER HIGH value businesses (Jewelry, Dealerships)
TSFP -ANSWER Texas Standard Fire Policy
TSFP named peril -ANSWER Fire
TSFP covers -ANSWER Property only
TSFP is what kind of policy -ANSWER ACV
TSFP truly standardized in -ANSWER New York in 1943
Relinquishing of ownership -ANSWER Abandonment
,Insurance to Value, Requires insured to carry an equal amount
(Homeowners) -ANSWER Coinsurance Clause=80% x value of home
Enhances the chances of a loss -ANSWER Hazard
Suffer an economic loss -ANSWER Insurable Interest
The amount of the loss paid by the policyholder -ANSWER Deductible
Expanding/limiting a policy -ANSWER Endorsements
The transfer of risk -ANSWER Insurance
The more times an event is repeated, the more predictable the outcome
becomes. -ANSWER Law of large numbers
A cause of loss (risk) -ANSWER Peril
The price of unit of insurance -ANSWER Rate
RCV -ANSWER replacement cost value, DONT use depreciation
Damages-deductible
SIU -ANSWER Special Investigation Unit
HO-1 Homeowners Policy -ANSWER Basic. Dwelling only
HO-2 Homeowners policy -ANSWER Broad. Dwelling/named perils
HO-3 Homeowners Policy -ANSWER Special, ALL risks/peril
Section 1 (Coverage A,B,C,D) -ANSWER Property
Section 2 (E, F) -ANSWER Injury
When was liability and property packaged? -ANSWER 1950
Pay medical bills for individuals hurt while on insured property -ANSWER
Section 2: Medical Payment to Others
,HO-A -ANSWER Dwelling
HO-B -ANSWER Other structures
HO-C -ANSWER Personal Property
Homeowners do NOT cover for this type of Catastrophe -ANSWER Earth
movement....Land/Dirt/landslide/sinkhole/earthquake
Coverage B takes... -ANSWER 10% of Coverage A. Policy limits X
deductible.
Removal of trees, we will pay... -ANSWER cut the tree, remove tree from
property, and repair damage.
Intentional damage -ANSWER Excluded. Insurance will NOT cover.
Loss to a pair or set -ANSWER Insurance will replace 1 of 2.
Coverage E -ANSWER Personal liability; Extra Risk
Coverage F -ANSWER Medical payment to others/Falls
Cancellation -ANSWER did not pay premium, Fraud, risk changed (ex.
adding a pool)
Insurance CANT cancel if person is -ANSWER convicted or went to jail.
Asked to be on the premises -ANSWER Invitee
Permission, but not invited -ANSWER Licensee
On the property without permission -ANSWER Trespasser
3 party contracts -ANSWER Bonds
Purchases , referred to as the obligor -ANSWER Principal (ex.Defendant)
Obtain; recipient of the bond -ANSWER Obligee (ex.court)
, Provider/one who sells the bond -ANSWER Surety (ex. Bondsman)
Required of the defendant in a lawsuit who elects to appeal a verdict -
ANSWER Apeeal Bond
Guarentee that an accused with appear at a date assigned by the court. -
ANSWER Bail Bonds
A promise to accept a bid or a proposal. Obtained prior to commencement
of a job. -ANSWER Bid Bonds
guarantee that outsanding jloans against a job are paid upon completion -
ANSWER Completion Bond
Protection for consumers by guarenteeing businesses adhere to law and
regulations. -ANSWER License Bond
Bonds CANNOT be -ANSWER cancelled or reduced.
Commerical Lines Coverage also referred to as -ANSWER Business and
Personal Property Coverage
CGL -ANSWER Commerical General Liability
Coverage for operations that have already been finished. (ex. Oil change) -
ANSWER Completed Operations
Provides protection for losses of injury occurring during the policy period
regardless of when the loss was made. -ANSWER Occurance Based
Policy
Mosed used policies in CGL -ANSWER Occurance Based Policy
pays for bodily injury and property damage (CGL) -ANSWER Coverage A-
Bodily Injury
bodily injury that results from copyright or use of one's advertisement (CGL)
-ANSWER Coverage B- Personal Injury & Advertising
2024/2025 QUESTIONS AND VERIFIED CORRECT ANSWERS/
ALREADY GRADED A++
Ocean Marine does NOT cover -ANSWER Pollution
Type of Vessels Marine does NOT cover -ANSWER Pirate ships
Highest court (Marine) -ANSWER Admiralty Court
Sharing the risk/loss (Marine) -ANSWER General Average
Adjuster of marine losses -ANSWER Average adjuster
Stealing or sinking a ship -ANSWER Barratry
To protect: Imports, Exports, Shipments, Bailee & Dealer property -
ANSWER Inland Marine Insurance
Timeline for processing Inland Marine claims -ANSWER 30 days of receipt
Voluntarily receive the property of others -ANSWER Bailee
Owner of held property -ANSWER Bailor
Block policy -ANSWER HIGH value businesses (Jewelry, Dealerships)
TSFP -ANSWER Texas Standard Fire Policy
TSFP named peril -ANSWER Fire
TSFP covers -ANSWER Property only
TSFP is what kind of policy -ANSWER ACV
TSFP truly standardized in -ANSWER New York in 1943
Relinquishing of ownership -ANSWER Abandonment
,Insurance to Value, Requires insured to carry an equal amount
(Homeowners) -ANSWER Coinsurance Clause=80% x value of home
Enhances the chances of a loss -ANSWER Hazard
Suffer an economic loss -ANSWER Insurable Interest
The amount of the loss paid by the policyholder -ANSWER Deductible
Expanding/limiting a policy -ANSWER Endorsements
The transfer of risk -ANSWER Insurance
The more times an event is repeated, the more predictable the outcome
becomes. -ANSWER Law of large numbers
A cause of loss (risk) -ANSWER Peril
The price of unit of insurance -ANSWER Rate
RCV -ANSWER replacement cost value, DONT use depreciation
Damages-deductible
SIU -ANSWER Special Investigation Unit
HO-1 Homeowners Policy -ANSWER Basic. Dwelling only
HO-2 Homeowners policy -ANSWER Broad. Dwelling/named perils
HO-3 Homeowners Policy -ANSWER Special, ALL risks/peril
Section 1 (Coverage A,B,C,D) -ANSWER Property
Section 2 (E, F) -ANSWER Injury
When was liability and property packaged? -ANSWER 1950
Pay medical bills for individuals hurt while on insured property -ANSWER
Section 2: Medical Payment to Others
,HO-A -ANSWER Dwelling
HO-B -ANSWER Other structures
HO-C -ANSWER Personal Property
Homeowners do NOT cover for this type of Catastrophe -ANSWER Earth
movement....Land/Dirt/landslide/sinkhole/earthquake
Coverage B takes... -ANSWER 10% of Coverage A. Policy limits X
deductible.
Removal of trees, we will pay... -ANSWER cut the tree, remove tree from
property, and repair damage.
Intentional damage -ANSWER Excluded. Insurance will NOT cover.
Loss to a pair or set -ANSWER Insurance will replace 1 of 2.
Coverage E -ANSWER Personal liability; Extra Risk
Coverage F -ANSWER Medical payment to others/Falls
Cancellation -ANSWER did not pay premium, Fraud, risk changed (ex.
adding a pool)
Insurance CANT cancel if person is -ANSWER convicted or went to jail.
Asked to be on the premises -ANSWER Invitee
Permission, but not invited -ANSWER Licensee
On the property without permission -ANSWER Trespasser
3 party contracts -ANSWER Bonds
Purchases , referred to as the obligor -ANSWER Principal (ex.Defendant)
Obtain; recipient of the bond -ANSWER Obligee (ex.court)
, Provider/one who sells the bond -ANSWER Surety (ex. Bondsman)
Required of the defendant in a lawsuit who elects to appeal a verdict -
ANSWER Apeeal Bond
Guarentee that an accused with appear at a date assigned by the court. -
ANSWER Bail Bonds
A promise to accept a bid or a proposal. Obtained prior to commencement
of a job. -ANSWER Bid Bonds
guarantee that outsanding jloans against a job are paid upon completion -
ANSWER Completion Bond
Protection for consumers by guarenteeing businesses adhere to law and
regulations. -ANSWER License Bond
Bonds CANNOT be -ANSWER cancelled or reduced.
Commerical Lines Coverage also referred to as -ANSWER Business and
Personal Property Coverage
CGL -ANSWER Commerical General Liability
Coverage for operations that have already been finished. (ex. Oil change) -
ANSWER Completed Operations
Provides protection for losses of injury occurring during the policy period
regardless of when the loss was made. -ANSWER Occurance Based
Policy
Mosed used policies in CGL -ANSWER Occurance Based Policy
pays for bodily injury and property damage (CGL) -ANSWER Coverage A-
Bodily Injury
bodily injury that results from copyright or use of one's advertisement (CGL)
-ANSWER Coverage B- Personal Injury & Advertising
