NC ADJUSTER LICENSE STUDY GUIDE NEWEST 2024- 2025
ACTUAL EXAM COMPLETE 250 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
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
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 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.
Which of the following statements is TRUE concerning Part A - Liability
coverage on a standard Personal Automobile policy? - (answer) The
coverage is provided only for accidents caused by those who are
"insureds" under the policy..
Which of the following is NOT a reason to purchase a Dwelling policy
instead of a Homeowners policy? - (answer) The Dwelling policy
provides higher limits of liability than the Homeowners policy..
Which of the following is NOT excluded by Section II - Liability of the
Business Automobile policy? - (answer) Cost to defend the insured
ACTUAL EXAM COMPLETE 250 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
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
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 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.
Which of the following statements is TRUE concerning Part A - Liability
coverage on a standard Personal Automobile policy? - (answer) The
coverage is provided only for accidents caused by those who are
"insureds" under the policy..
Which of the following is NOT a reason to purchase a Dwelling policy
instead of a Homeowners policy? - (answer) The Dwelling policy
provides higher limits of liability than the Homeowners policy..
Which of the following is NOT excluded by Section II - Liability of the
Business Automobile policy? - (answer) Cost to defend the insured
