Oklahoma Adjuster Exam #2 Latest
Updated Solved 100% Correct
____ are the types of cause of loss form in a commercial package policy - ANSWER-
Basic, Broad, or Special
_____ is not eligible for a dwelling policy - ANSWER-Farm
_______ are specifically excluded from coverage in Coverage C of the homeowner's
policy? - ANSWER-Animals
__________ acts like a deductible and is the amount of loss the insured must cover out
of pocket when seeking coverage from an Umbrella policy? - ANSWER-Self -retention
limit (SIR)
A bird flying into the windshield of an auto is considered? - ANSWER-A comprehensive
loss
A certain state requires employers to purchase workers compensation insurance from a
state fund. - ANSWER-a monopolistic state fund
a civil wrong that causes damage to another person or business is known as -
ANSWER-a tort
a commercial package policy consists of all the following? - ANSWER-common policy
declaration, common policy, conditions, and two or more coverage parts
A condition stating that an insured's rights and duties under the policy cannot be
transferred without the written consent of the insurance company, except in the case of
the death of a named insured, is sometimes called - ANSWER-an assignment clause
A covered auto collided with another car and overturned causing a lot of damage. The
auto is insured for collision and comprehensive coverages under the business auto
coverage form. Which coverage would pay for this loss? - ANSWER-Collision
A flood is an example of - ANSWER-A peril
A guarantee that something is true is - ANSWER-a warranty
A loss caused by power failure o the insured's premises would be? - ANSWER-covered
under a BAP
,a particular state gives employers the option of purchasing worker's compensation
insurance from a state fund or a private company. This is an example of a _____ -
ANSWER-competitive state fund
A person's property can be divided into two classes: real property (buildings) and -
ANSWER-personal property
A personal boat used as a charter boat on the weekends for a fee - ANSWER-Would be
excluded under a personal watercraft policy
A personal injury endorsement would provide coverage for? - ANSWER-libel, slander,
false arrest, invasion of privacy, malicious prosecution
A shopping cart striking the insured vehicle is considered a? - ANSWER-A collision loss
Absolute liability is imposed by law on those participating in hazardous activities or
occupations. Another name for absolute liability is - ANSWER-strict liability
Accidental discharge of water - ANSWER-Is not a covered peril under the basic HO
form
Adjusters and producers must complete how many hours of continuing education
biennially? - ANSWER-24 hours
After a blizzard, the roof of the insured's home collapsed due to the weight of snow. This
would be covered under which form? - ANSWER-DP2
Agency is a relationship in which one person is authorized to represent and act for
another person or corporations. In insurance, the insurance agent acts on behalf of -
ANSWER-Principal
airborne volcanic blasts or shockwaves, ash, dust, particulate matter, and lava flow is
best described as? - ANSWER-volcanic action
All earthquake shocks or volcanic eruptions that occur within how many hours are
considered a single earthquake or volcanic eruption - ANSWER-168 hours
All of the following class of personal property are specifically excluded from HO policy -
ANSWER-Animals, property of boarders and credit cards
An act of terrorism must be certified by the Secretary of Treasury in consultation with
the Secretary of Homeland Security and the - ANSWER-US Attorney General
An automobile being swept away in flood waters, is considered? - ANSWER-A
comprehensive loss
, An automobile flipping over an embankment onto its side, is considered a what? -
ANSWER-A collision
an automobile insurance plan for driver with poor driving records is also known as? -
ANSWER-an assigned risk plan
An individual applied for auto insurance and obtained coverage from EMU Insurance
Company. Who is the first party in the contract? - ANSWER-The Insured
An inland marine coverage that insurers against loss to machinery, equipment, building
materials and supplies in transit to or being used with or during the course of
installation, testing, building, renovating, or repair is also known as a - ANSWER-
installation policy
An insurance company incorporated in Oklahoma and conducting business in
Oklahoma is known as a domestic company. What kind of company are they
considered if they do business in Minnesota? - ANSWER-Foreign
An insurance company's license to do business in Oklahoma is called? - ANSWER-
Certificate of Authority
Armed individuals tie up convenience store workers and lock them in a back room. The
individuals then load up on money, lottery tickets, cigarettes, and liquor, then leave the
premises. This is an example of? - ANSWER-Robbery
As it related to commercial auto insurance, damage to property owned by the insured
is? - ANSWER-excluded
As it relates to commercial auto insurance, work-related injuries to employees are? -
ANSWER-excluded
Business personal property is covered while it is in the actual building, outside the
building or in a vehicle within how many feet of the building? - ANSWER-100 feet
Carl hands out a business card with his company's logo to all new prospects that he
meets at a golf outing. This is an example of - ANSWER-implied authority
collapse additional coverages - ANSWER-is defined as a abrupt falling down or caving
in of the building or part of the building that results in the building unusable
Commercial crime for includes all of the following - ANSWER-employee theft, guests'
property & forgery or alteration
Commercial inland marine risk are - ANSWER-usually called floaters because the
insurance moves with the property as it moves
Updated Solved 100% Correct
____ are the types of cause of loss form in a commercial package policy - ANSWER-
Basic, Broad, or Special
_____ is not eligible for a dwelling policy - ANSWER-Farm
_______ are specifically excluded from coverage in Coverage C of the homeowner's
policy? - ANSWER-Animals
__________ acts like a deductible and is the amount of loss the insured must cover out
of pocket when seeking coverage from an Umbrella policy? - ANSWER-Self -retention
limit (SIR)
A bird flying into the windshield of an auto is considered? - ANSWER-A comprehensive
loss
A certain state requires employers to purchase workers compensation insurance from a
state fund. - ANSWER-a monopolistic state fund
a civil wrong that causes damage to another person or business is known as -
ANSWER-a tort
a commercial package policy consists of all the following? - ANSWER-common policy
declaration, common policy, conditions, and two or more coverage parts
A condition stating that an insured's rights and duties under the policy cannot be
transferred without the written consent of the insurance company, except in the case of
the death of a named insured, is sometimes called - ANSWER-an assignment clause
A covered auto collided with another car and overturned causing a lot of damage. The
auto is insured for collision and comprehensive coverages under the business auto
coverage form. Which coverage would pay for this loss? - ANSWER-Collision
A flood is an example of - ANSWER-A peril
A guarantee that something is true is - ANSWER-a warranty
A loss caused by power failure o the insured's premises would be? - ANSWER-covered
under a BAP
,a particular state gives employers the option of purchasing worker's compensation
insurance from a state fund or a private company. This is an example of a _____ -
ANSWER-competitive state fund
A person's property can be divided into two classes: real property (buildings) and -
ANSWER-personal property
A personal boat used as a charter boat on the weekends for a fee - ANSWER-Would be
excluded under a personal watercraft policy
A personal injury endorsement would provide coverage for? - ANSWER-libel, slander,
false arrest, invasion of privacy, malicious prosecution
A shopping cart striking the insured vehicle is considered a? - ANSWER-A collision loss
Absolute liability is imposed by law on those participating in hazardous activities or
occupations. Another name for absolute liability is - ANSWER-strict liability
Accidental discharge of water - ANSWER-Is not a covered peril under the basic HO
form
Adjusters and producers must complete how many hours of continuing education
biennially? - ANSWER-24 hours
After a blizzard, the roof of the insured's home collapsed due to the weight of snow. This
would be covered under which form? - ANSWER-DP2
Agency is a relationship in which one person is authorized to represent and act for
another person or corporations. In insurance, the insurance agent acts on behalf of -
ANSWER-Principal
airborne volcanic blasts or shockwaves, ash, dust, particulate matter, and lava flow is
best described as? - ANSWER-volcanic action
All earthquake shocks or volcanic eruptions that occur within how many hours are
considered a single earthquake or volcanic eruption - ANSWER-168 hours
All of the following class of personal property are specifically excluded from HO policy -
ANSWER-Animals, property of boarders and credit cards
An act of terrorism must be certified by the Secretary of Treasury in consultation with
the Secretary of Homeland Security and the - ANSWER-US Attorney General
An automobile being swept away in flood waters, is considered? - ANSWER-A
comprehensive loss
, An automobile flipping over an embankment onto its side, is considered a what? -
ANSWER-A collision
an automobile insurance plan for driver with poor driving records is also known as? -
ANSWER-an assigned risk plan
An individual applied for auto insurance and obtained coverage from EMU Insurance
Company. Who is the first party in the contract? - ANSWER-The Insured
An inland marine coverage that insurers against loss to machinery, equipment, building
materials and supplies in transit to or being used with or during the course of
installation, testing, building, renovating, or repair is also known as a - ANSWER-
installation policy
An insurance company incorporated in Oklahoma and conducting business in
Oklahoma is known as a domestic company. What kind of company are they
considered if they do business in Minnesota? - ANSWER-Foreign
An insurance company's license to do business in Oklahoma is called? - ANSWER-
Certificate of Authority
Armed individuals tie up convenience store workers and lock them in a back room. The
individuals then load up on money, lottery tickets, cigarettes, and liquor, then leave the
premises. This is an example of? - ANSWER-Robbery
As it related to commercial auto insurance, damage to property owned by the insured
is? - ANSWER-excluded
As it relates to commercial auto insurance, work-related injuries to employees are? -
ANSWER-excluded
Business personal property is covered while it is in the actual building, outside the
building or in a vehicle within how many feet of the building? - ANSWER-100 feet
Carl hands out a business card with his company's logo to all new prospects that he
meets at a golf outing. This is an example of - ANSWER-implied authority
collapse additional coverages - ANSWER-is defined as a abrupt falling down or caving
in of the building or part of the building that results in the building unusable
Commercial crime for includes all of the following - ANSWER-employee theft, guests'
property & forgery or alteration
Commercial inland marine risk are - ANSWER-usually called floaters because the
insurance moves with the property as it moves
