LA CLAIMS ADJUSTER PROPERTY AND CAUSALITY PRACTICE EXAM 2 QUESTIONS AND CORRECT ANSWERS

LA CLAIMS ADJUSTER PROPERTY AND
CAUSALITY PRACTICE EXAM 2
QUESTIONS AND CORRECT ANSWERS

AA2singleA2DeclarationsA2pageA2commonA2toA2allA2coverages
AA2singleA2conditionsA2sectionA2commonA2toA2allA2coveragesA2-A2Ans--
AA2commercialA2packageA2policyA2alwaysA2includes

SendA2theA2insuredA2aA2reservationA2ofA2rightsA2letterA2-A2Ans--
IfA2theA2insuredA2failsA2toA2reportA2claimA2inA2aA2timelyA2fashion,A2theA2adjusterA2willA2imme
diatelyA2___

$1000A2perA2personA2-A2Ans--TheA2basicA2limitA2forA2coverageA2F-
medicalA2paymentsA2ofA2theA2standardA2homeownersA2formA2isA2normally

$250A2-A2Ans--
TheA2CGLA2providesA2upA2toA2___perA2dayA2forA2lossA2ofA2earningsA2asA2aA2supplementar
yA2payment

WasA2madeA2forA2theA2benefitA2ofA2theA2insuranceA2companyA2andA2doesA2notA2warrantA2t
heA2insuredsA2complianceA2withA2allA2lawsA2andA2regulationsA2-A2Ans--
TheA2insuranceA2companyA2choosesA2toA2inspectA2theA2insuredsA2premises,A2theA2insura
nceA2inspection:

60A2days.A2-A2Ans--WhenA2isA2lossA2payableA2underA2LAA2standardA2fireA2policy?

30A2daysA2-A2Ans--
WhenA2anA2insurerA2hasA2receivedA2aA2completedA2satisfactoryA2proofA2ofA2loss,A2howA2m
anyA2daysA2doesA2theA2insurerA2haveA2toA2payA2theA2loss

expeditingA2expenseA2coverageA2-A2Ans--
nameA2theA2coverageA2thatA2appliesA2toA2theA2extraA2costA2theA2insuredA2incursA2toA2mak
eA2temporaryA2repairsA2andA2speedA2upA2theA2permanentA2repairsA2replacementA2ofA2dam
ageA2coveredA2equipmentA2underA2anA2equipmentA2breakdownA2policy

UntilA2theA2repairsA2areA2completeA2andA2theA2businessA2re-
opens,A2subjectA2toA2aA212A2consecutiveA2monthA2limitationA2-A2Ans--
HowA2longA2willA2theA2businessA2ownerA2policyA2payA2forA2theA2"extraA2expenseA2coverag
e"A2usedA2toA2reduceA2theA2lossA2ofA2incomeA2whenA2theA2insuredA2hasA2sufferedA2aA2loss
A2fromA2aA2coveredA2peril


handledA2asA2aA2supplementaryA2paymentA2-A2Ans--
TypicallyA2howA2areA2defenseA2costA2handledA2underA2aviationA2policy

,additionalA2livingA2expensesA2isA2includedA2inA2thisA2coverageA2asA2wellA2asA2fairA2rentalA2
valueA2-A2Ans--underA2theA2HOA2policy,A2lossA2ofA2useA2wouldA2coverA2what

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DwellingA2formsA2includeA2aA2liberalizationA2clause.A2itA2saysA2thatA2anyA2revisionA2ofA2cov
erageA2whichA2broadensA2theA2insuranceA2withoutA2anA2additionalA2premiumA2chargeA2wil
lA2beA2automaticallyA2appliedA2toA2existingA2policiesA2ifA2theA2revisionA2adoptedA2duringA2t
heA2policyA2periodA2orA2within

ActualA2CashA2ValueA2-A2Ans--
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tA2unlessA2endorsedA2toA2payA2___

accidentalA2shootingA2ofA2livestockA2-A2Ans--
____isA2coveredA2underA2theA2broadA2dormA2farmA2ownersA2policyA2butA2isA2notA2covered
A2underA2theA2basicA2formA2farmA2ownersA2policy


24A2-A2Ans--
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eA2policyA2anA2insuredA2mayA2fileA2suitA2toA2recoverA2forA2aA2lossA2onlyA2ifA2allA2policyA2req
uirementsA2haveA2beenA2compiledA2withA2andA2onlyA2ifA2theA2suitA2isA2filedA2withinA2__mon
thsA2ofA2theA2dateA2ofA2loss

fromA2theA2timeA2ofA2acquisitionA2andA2upA2toA290A2daysA2thereafterA2-A2Ans--
CGLA2newlyA2acquiredA2entityA2howA2longA2willA2theA2newA2entityA2beA2automaticallyA2con
sideredA2insuredA2underA2theA2currentA2CGL

ReservationA2ofA2rightsA2letterA2-A2Ans--
whatA2doesA2theA2insurerA2doA2whenA2theA2insuredA2hasA2possiblyA2waivedA2hisA2orA2herA2
rightsA2inA2aA2liabilityA2claim

10A2daysA2-A2Ans--
howA2muchA2advanceA2noticeA2ofA2aA2hearingA2mustA2theA2LAA2insuranceA2commissionerA
2giveA2toA2affectedA2interestedA2parties


$500A2-A2Ans--
whatA2isA2theA2maximumA2fineA2forA2eachA2violatesA2theA2"immediateA2contact"A2ruleA2inA2
LA

FreightA2InsuranceA2-A2Ans--
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tA2thatA2cargoA2shippingA2costA2areA2notA2paid

, 6A2months/A23A2-A2Ans--
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ry__A2duringA2theA2firstA2___yearsA2ofA2organization

$25,000A2-A2Ans--
WhatA2isA2theA2limitA2thatA2isA2paidA2forA2waterA2damageA2underA2equipmentA2breakdownA
2policy


15,000/30,000/25,000A2-A2Ans--
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hatA2areA2theA2requiredA2minimumA2autoA2limitsA2ofA2liabilityA2aA2personA2mustA2carry

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WhatA2coverageA2isA2usedA2toA2coverA2theA2damageA2toA2aA2customersA2vehicleA2inA2theA2
careA2ofA2custodyA2ofA2aA2repairA2garage.

withinA230A2daysA2followingA2theA2receiptA2ofA2suchA2demandA2-A2Ans--
whenA2aA2hearingA2isA2demandedA2byA2theA2commissionerA2ofA2insuranceA2inA2Louisianan
,A2whenA2mustA2suchA2aA2hearingA2beA2held?

EstoppelA2-A2Ans--
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A2payingA2otherA2suchA2claimsA2becauseA2of


anA2NFIPA2dwellingA2policyA2underA2theA2regularA2programA2-A2Ans--
NFIPA2policesA2isA2requiredA2toA2includeA2theA2increasedA2costA2ofA2complianceA2coverag
e

ReportedA2withinA2oneA2yearA2ofA2theA2dateA2ofA2theA2accidentA2-A2Ans--
InA2aA2CGLA2policy,A2"medicalA2payments"A2claimsA2mustA2be

defenseA2-A2Ans--
TheA2policyA2canA2notA2payA2moreA2thenA2itsA2limitA2ifA2liability.A2UnderA2supplementalA2co
veragesA2inA2theA2policyA2theA2policyA2willA2payA2theA2__A2costA2plusA2theA2costA2ofA2premi
umsA2onA2appealA2bondsA2andA2bailA2bonds

aA2constructiveA2totalA2lossA2-A2Ans--
DescribesA2aA2situationA2whereA2aA2buildingA2isA2notA2aA2totalA2lossA2butA2theA2costA2toA2re
pairA2theA2buildingA2isA2greaterA2thenA2theA2valueA2ofA2theA2building

UsuallyA2excludedA2unlessA2theA2workA2outA2ofA2whichA2theA2damageA2aroseA2wasA2doneA
2byA2aA2subcontractorA2ratherA2thanA2theA2insuredA2-A2Ans--
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artA2ofA2theA2products-
completedA2operationsA2hazardA2asA2definedA2inA2aA2commercialA2umbrellaA2liabilityA2poli
cy