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NC Adjuster License Exam Prep Material Newest
2025/2026 Complete Questions And Correct Answers
(Verified Answers)|Brand New Version!
Manny is purchasing a Commercial Property policy with a Business Income form
included. Manny can select from any of the following as a method to provide
coverage, while avoiding the coinsurance requirement, EXCEPT: - (ANSWER)The
maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is: - (ANSWER)Replacement
cost minus depreciation
Sam and Dan are working to clean out the gutters around the roof on Sam's
house. Sam and Dan are standing at the top of separate ladders that are propped
against the side of Sam's house, when Dan's ladder begins to wobble and
ultimately falls into Sam's ladder. Both men and their ladders crash to the ground.
Whose injuries will be covered by Sam's Homeowners policy under Coverage E -
Personal Liability? - (ANSWER)Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following,
EXCEPT: - (ANSWER)Intentional torts purposely committed to cause harm to
another.
The insured has a $1,000,000 personal umbrella policy with a $5,000 retention
limit. For a $7,000 liability loss not covered under the insured's personal auto
policy, but covered under the umbrella policy, the insurance company would pay:
- (ANSWER)$2,000
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All of the following is considered an "insured" under a CGL policy, EXCEPT: -
(ANSWER)Lawyers of the named insured
What specific type of liability policy gives an owner protection against liability
claims arising out of the acts of its independent contractors? - (ANSWER)Owners
and Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a Businessowners
policy? - (ANSWER)A small retail store
Which of the following is NOT a correct statement in determining the cost of a
"comparable automobile" when a physical damage loss has a occurred? -
(ANSWER)The cost of a comparable automobile as determined by a computerized
automobile valuation service that produces statistically valid fair market values
within the United States market
All of the following statements are TRUE of North Carolina automobile liability
policies, EXCEPT - (ANSWER)If the insured carries limits greater than the
minimum financial responsibility limits required by state law, they are not
required to carry Uninsured/Underinsured Motorists coverage.
The basic limit for Coverage F -- Medical Payments of the standard Homeowners
forms is: - (ANSWER)$1,000 per person
Oliver Dogwood was in an auto accident which destroyed his car. While
investigating the accident, Adjuster Doright found that Mr. Dogwood paid $1,000
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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? - (ANSWER)$2,150
When a claims representative is collecting information from a third-party
claimant, which of the following is the information that should be obtained first? -
(ANSWER)The nature and extent of the injuries or property damage claimed.
The Business Auto uses Symbol 7 to cover "specifically described autos" identified
in the declarations. An auto acquired during the policy period will only be
covered: - (ANSWER)If the insured insures all of their vehicles with the company
or it replaces a covered auto..
What coverage under the BOP automatically applies if a customer slips and falls
on the named insured's premises, regardless of legal liability? - (ANSWER)Medical
expense coverage
When an insurer is called upon to defend a suit under a CGL policy, the amount
that can be paid for the defense costs is: - (ANSWER)Not limited
Any North Carolina lender in making or servicing real estate mortgage or deed of
trust loans on one to four family residences must accept a binder as proof of
insurance. The binder presented to the lender must include all of the following,
EXCEPT - (ANSWER)A sworn statement that the insurance will be kept in force.
NC Adjuster License Exam Prep Material Newest
2025/2026 Complete Questions And Correct Answers
(Verified Answers)|Brand New Version!
Manny is purchasing a Commercial Property policy with a Business Income form
included. Manny can select from any of the following as a method to provide
coverage, while avoiding the coinsurance requirement, EXCEPT: - (ANSWER)The
maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is: - (ANSWER)Replacement
cost minus depreciation
Sam and Dan are working to clean out the gutters around the roof on Sam's
house. Sam and Dan are standing at the top of separate ladders that are propped
against the side of Sam's house, when Dan's ladder begins to wobble and
ultimately falls into Sam's ladder. Both men and their ladders crash to the ground.
Whose injuries will be covered by Sam's Homeowners policy under Coverage E -
Personal Liability? - (ANSWER)Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following,
EXCEPT: - (ANSWER)Intentional torts purposely committed to cause harm to
another.
The insured has a $1,000,000 personal umbrella policy with a $5,000 retention
limit. For a $7,000 liability loss not covered under the insured's personal auto
policy, but covered under the umbrella policy, the insurance company would pay:
- (ANSWER)$2,000
, 2
All of the following is considered an "insured" under a CGL policy, EXCEPT: -
(ANSWER)Lawyers of the named insured
What specific type of liability policy gives an owner protection against liability
claims arising out of the acts of its independent contractors? - (ANSWER)Owners
and Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a Businessowners
policy? - (ANSWER)A small retail store
Which of the following is NOT a correct statement in determining the cost of a
"comparable automobile" when a physical damage loss has a occurred? -
(ANSWER)The cost of a comparable automobile as determined by a computerized
automobile valuation service that produces statistically valid fair market values
within the United States market
All of the following statements are TRUE of North Carolina automobile liability
policies, EXCEPT - (ANSWER)If the insured carries limits greater than the
minimum financial responsibility limits required by state law, they are not
required to carry Uninsured/Underinsured Motorists coverage.
The basic limit for Coverage F -- Medical Payments of the standard Homeowners
forms is: - (ANSWER)$1,000 per person
Oliver Dogwood was in an auto accident which destroyed his car. While
investigating the accident, Adjuster Doright found that Mr. Dogwood paid $1,000
, 3
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? - (ANSWER)$2,150
When a claims representative is collecting information from a third-party
claimant, which of the following is the information that should be obtained first? -
(ANSWER)The nature and extent of the injuries or property damage claimed.
The Business Auto uses Symbol 7 to cover "specifically described autos" identified
in the declarations. An auto acquired during the policy period will only be
covered: - (ANSWER)If the insured insures all of their vehicles with the company
or it replaces a covered auto..
What coverage under the BOP automatically applies if a customer slips and falls
on the named insured's premises, regardless of legal liability? - (ANSWER)Medical
expense coverage
When an insurer is called upon to defend a suit under a CGL policy, the amount
that can be paid for the defense costs is: - (ANSWER)Not limited
Any North Carolina lender in making or servicing real estate mortgage or deed of
trust loans on one to four family residences must accept a binder as proof of
insurance. The binder presented to the lender must include all of the following,
EXCEPT - (ANSWER)A sworn statement that the insurance will be kept in force.
