North Carolina Adjuster License Exam Questions & Answers

North Carolina Adjuster License Exam Questions & Answers-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: - The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - 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? - Only Dan's injuries would be covered Torts that can be covered by insurance policies include all of the following, EXCEPT: - 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: - $2,000 All of the following is considered an "insured" under a CGL policy, EXCEPT: - 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? - Owners and Contractors Protective Liability Policy. Which of the following would be eligible for coverage under a Businessowners policy? - 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? - 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 - 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: - $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 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? - $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? - The nature and extent of the injuries or