West Virginia Adjuster Laws &
Regulations – FINAL Exam 2025
Questions and Answers
The ABC Company has a printing press that suffers a total loss. The company
paid $25,000 ten years ago for the press. Actual cash value is $40,000, and the
replacement cost is $55,000. The company has had to cancel several contracts for
printing due to the loss of the press and they are anxious to resume full
production. ABC Company is covered under a Business Owner's Policy (BOP).
They will receive the following amount from the insurer:
A. $25,000
B. $55,000
C. $40,000
D. $20,000 - --Answer --B. $55,000
Personal Excess Liability coverage provides which of the following?
A. Identical limits to the underlying policies.
B. The same limits as under primary policies for covered losses.
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,C. Higher limits.
D. Coordinates limits with other policies. - --Answer --C. Higher limits.
Which of the following does not have an insurable interest in real property?
A. Prior interest
B. Present interest
C. Mortgagee interest
D. Additional interest - --Answer --A. Prior interest
Oliver Dogwood was in an auto accident which destroyed his car. While
investigating the accident, Adjuster Doright found that Mr. Dogwood paid $1,000
for the vehicle. After checking with others he found the same vehicle with an
asking price of $1,700, a retail price of $2,150 and a dealer price of $1,750. What
amount will Mr. Dogwood receive?
A. $1,950
B. $2,150
C. $1,000
D. $1,700 - --Answer --B. $2,150
Mr. Unlucky had his pickup truck stolen while it was parked in a "No Parking"
zone outside his office. The value of the truck was $18,500. In addition, tools
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, valued at $200, extra tires and hubcaps for the truck valued at five hundred and
fifty dollars and a tarp worth $50 were in the truck. Mr. Unlucky has a collision
deductible of $500 and a comprehensive deductible of $250. The company will pay
what amount?
A. $18,000
B. $18,800
C. $18,250
D. $19,050 - --Answer --B. $18,800
In settling a claim on a dwelling fire policy with a $10,000 loss, the following
companies are involved, Company A - 50%; Company B - 45% and Company C -
5%. What will Company C pay?
A. $10,000
B. $1,000
C. $4,500
D. $500 - --Answer --D. $500
The ______ states that insurers issuing fire insurance policies on real property in
West Virginia are liable for the whole amount of insurance on the property in case
of total loss by fire or as otherwise stated in the policy.
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 3
Regulations – FINAL Exam 2025
Questions and Answers
The ABC Company has a printing press that suffers a total loss. The company
paid $25,000 ten years ago for the press. Actual cash value is $40,000, and the
replacement cost is $55,000. The company has had to cancel several contracts for
printing due to the loss of the press and they are anxious to resume full
production. ABC Company is covered under a Business Owner's Policy (BOP).
They will receive the following amount from the insurer:
A. $25,000
B. $55,000
C. $40,000
D. $20,000 - --Answer --B. $55,000
Personal Excess Liability coverage provides which of the following?
A. Identical limits to the underlying policies.
B. The same limits as under primary policies for covered losses.
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
,C. Higher limits.
D. Coordinates limits with other policies. - --Answer --C. Higher limits.
Which of the following does not have an insurable interest in real property?
A. Prior interest
B. Present interest
C. Mortgagee interest
D. Additional interest - --Answer --A. Prior interest
Oliver Dogwood was in an auto accident which destroyed his car. While
investigating the accident, Adjuster Doright found that Mr. Dogwood paid $1,000
for the vehicle. After checking with others he found the same vehicle with an
asking price of $1,700, a retail price of $2,150 and a dealer price of $1,750. What
amount will Mr. Dogwood receive?
A. $1,950
B. $2,150
C. $1,000
D. $1,700 - --Answer --B. $2,150
Mr. Unlucky had his pickup truck stolen while it was parked in a "No Parking"
zone outside his office. The value of the truck was $18,500. In addition, tools
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
, valued at $200, extra tires and hubcaps for the truck valued at five hundred and
fifty dollars and a tarp worth $50 were in the truck. Mr. Unlucky has a collision
deductible of $500 and a comprehensive deductible of $250. The company will pay
what amount?
A. $18,000
B. $18,800
C. $18,250
D. $19,050 - --Answer --B. $18,800
In settling a claim on a dwelling fire policy with a $10,000 loss, the following
companies are involved, Company A - 50%; Company B - 45% and Company C -
5%. What will Company C pay?
A. $10,000
B. $1,000
C. $4,500
D. $500 - --Answer --D. $500
The ______ states that insurers issuing fire insurance policies on real property in
West Virginia are liable for the whole amount of insurance on the property in case
of total loss by fire or as otherwise stated in the policy.
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 3
