Adjuster Exam Simulator Questions with correct answers

Coverage F on HO-3 will pay medical expenses for - ANSWER; Anyone invited onto your property and injured while there not a resident "Medical Payments to Others" Negligence or a tort - ANSWER; A legal duty owed is proven and breach of legal duty owed is also present A common carrier is not liable for the loss of a shipper's goods when the loss results from - ANSWER; An act of God such as floods, hurricanes or negligence of the shipper (poor packaging) Inland marine insurance is commonly used to insure - ANSWER; property and goods while they are on a vessel on the water, coverage ends when goods are offloaded onto land A threat of violence or injury in the act of stealing is called - ANSWER; Robbery, requires stealing by means of a threat of violence or injury After necessary filing for catastrophe, the license is legal to use for ________ days - ANSWER; 120 days The form used to report the insured's actual and estimated business income under an Equipment Breakdown policy is called: - ANSWER; Business income—Report of Values A home burns and all of the jewelry is lost. The maximum the insured can collect under the HO-3 policy for the jewelry is - ANSWER; S1,500, an unedorsed HO provides ACV for personal property Which of the following best describes the meaning of "contract of adhesion?" - ANSWER; Since the insurance company formulates the policy, any ambiguitious language favors the insured What is the maximum that will be paid under replacement cost coverage under the HO forms for dwellings? - ANSWER; The total price to replace the dwelling up to the dwelling limit, if adequate coverage is in place A method of replacing damaged property with something not exactly like the damaged item, but will perform the same is known as - ANSWER; Functional Replacement Cost