NC Claims Adjuster Exam Study Guide

Liability Insurance PAP (Part A) CORRECT ANSWER Pays all the sums and insured must legally pay as damage due to BI/PD caused by an accident and resulting from the ownership, maintenance or use of a covered auto. Coverage Part A through F of a PAP CORRECT ANSWER A. Liability B. Medical Payments C. UM/UIM D. Physical Damage E. Insured Duties F. General Provisions Certificate of Insurance (COI) CORRECT ANSWER A document that proves the existence of insurance coverage Occurrence CORRECT ANSWER Something that continue to happen and may cause injury later on. Accident CORRECT ANSWER A sudden unforseen and unintended one time event Assumption of risk CORRECT ANSWER An individual who is aware of the potential risk involved and chose to expose themselves to it. Comparative negligence CORRECT ANSWER Measures the amount of negligence contributed to each party. The injured party will not cover damages equal to the percentage of negligence they contribute. Contributory Negligence CORRECT ANSW