PUBLIC ADJUSTER 2025 EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS || A+ GRADE ASSURED < LATEST VERSION >

PUBLIC ADJUSTER 2025 EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS || A+ GRADE ASSURED &lt; LATEST VERSION &gt; 1. Program Trigger for terrorist acts must cause a collective damage in excess of? - ANSWER • $100,000,000 2. TF A public adjuster may own no more than 50% in a salvage or similar business? - ANSWER • F 3. General Average - ANSWER • Loss shared by all parties 4. Particular Average - ANSWER • Only one party shares in the loss. 5. In a home owner policy there is no deductible for - ANSWER • Liability Coverage 6. In BOP covered property is listed and described in what part of the contract? - ANSWER • Declarations page 7. When the insurer receives a property completed proof of loss, they must accept or deny the claim within ______ days - ANSWER 15 days 8. Commercial building and personal property coverage form provides _______ extentions of coverage. But only if __________ - ANSWER • 5, if an 80% or higher coinsurance percentage is shown in the declarations. 9. Under the livestock coverage form, within how many days must newly acquired livestock be added to the policy? - ANSWER • 30 days 10. Subrogation of a claim occurs before or after a claim has been paid? - ANSWER � � After 11. Under pollution clean up and removal coverage under the BOP, when must a loss be reported? - ANSWER • Within 180 days 12. __________ form is an inland marine coverage which covers the insured's merchandise held for sale, such property that is sold but not delivered, customers property in the care and custody of the insured and property being transported to or from the insured is a: - ANSWER • dealers form. Equipment dealers form would be an example of this 13. Commercial articles coverage form is designed to cover - ANSWER • Musical instruments and related equipment, cameras and related equipment. 14. Dwelling forms provide how much coverage for grave markers? - ANSWER • NOTHING 15. Business personal property limits will be increased by _______% to cover seasonal variations in stock in the BOP? - ANSWER • 25% 16. Crop insurance policy limits are usually written as a - ANSWER • Percentage of the maximum possible loss. 17. The fee for a public adjuster's license is - ANSWER • 200 bucks 18. The BOP pays loss of income after a covered loss for up to _______ months - ANSWER • 12 months. 19. An incorporated insurance company with its capital divided into shares and owned by its shareholders is known as - ANSWER • A stock company 20. After a fire loss, the adjuster must - ANSWER • Take possession of the salvage 21. Under the special BOP form, for additional coverage of "collapse to be available, ______________ - ANSWER • The collapse must be such that the building can not be used as intended. 22. Ocean marine protection and indemnity coverage does not insure the ships owner against liability for - ANSWER • Damage to or loss of another ship by a negligent collision. 23. The burden of proof in determining the value of property and cause of loss lies with - ANSWER • The insured 24. Under the terms of a homeowner policy, the mortagee is permitted to ________ if the insured fails to do so - ANSWER • Pay the premimum for the insured. 25. A release is "good" when - ANSWER • The settlement check has been issued 26. BOP maximum squarefootage - ANSWER • 35,000 square feet 27. Contract of adhesion - ANSWER • Since the insurance company formulate the policy contract, the courts will resolve and ambiguities in the insured's favor 28. A farmer purchases a crop hail policy with a limit of $10,000 on 5,000 acres that stustains a 30% loss. Coverage is written with a 5% minimum loss before the policy will pay. How much will the farmer receive? - ANSWER • $3,000 or 30% of the limit. This is because the 5% minimum is not a deductible, it is just a minimum before the policy takes effect. 29. HO-5 provides what coverage - ANSWER • Open peril on buildings and contents 30. The purpose of the Pennsylvania Insurance Guaranty Association - ANSWER • To pay covered claims of insolvent licensed insurance companies. 31. _________ is something that increases the probability of a loss? - ANSWER • Hazard 32. A public adjuster can solicit business as a result of a loss producing fire at what point? - ANSWER • When the emergency responders have determined that the emergency status of the event has ended. 33. The medical payments coverage on the farm policy can be claimed for up to: - ANSWER • 3 years 34. Bailment means - ANSWER • Transfer of possession 35. Demurrage - - ANSWER • Compensation payable for the delaying a vessel carrying freight 36. The Commercial property business income coverage form does not cover - ANSWER • Non continueing operating expenses 37. The deductible under the regular flood insurance program is - ANSWER • $1,000 38. The common policy conditions apply to which coverage parts of a commercial package policy? - ANSWER • All parts 39. Ho-3 insures for direct physical loss to covered property involving collapse of a building. The exception is when its caused by - ANSWER • Settling 40. If both the condo association form and the condo unito owners form cover the same property, and there is a covered loss - ANSWER • The unit owners policy will be excess over the association policy 41. The insured has an HO6 form. The limit of coverage is $500,000. In addition he owns a separate three car garage adjacent to the building worth $100,000. How is the garage covered? - ANSWER • Its covered as part of the $500,000 limit. 42. In flood insurance, there is a ______ day waiting period before coverage applies? - ANSWER • 30 day 43. Mr. Vickers lives close to a river that has on occasion, flooded. On Friday morning he is watching the weather station and notes that there is flood warning in his area. He calls his agent and asks the agent to bind flood coverage immediately. The house is flooded by Monday. Is he covered? - ANSWER • NO, flood insurance requires a 30 day waiting period. 44. The ________ clause covers collision damage to another vessel - ANSWER The ________ clause covers collision damage to another vessel