MS Adjuster License Exam Questions
and Answers 100% Solved | Graded A+
Jerome was shopping at ABC Imports when a light fixture fell from the
ceiling and hit him on the head. Jerome's injuries resulted in an extended
hospital stay, so he sued ABC Imports and was awarded $400,000.
Assuming ABC Imports carries a CGL with a General Aggregate of
$750,000 and a per occurrence limit of $250,000, what is the maximum that
ABC's insurer will pay for Jerome's injuries? - ✔✔$250,000
Strict Liability: - ✔✔holds a person liable for his actions regardless of how
much care he demonstrates.
Wendy hires Jim to build an addition to her house. Jim takes the job and
finishes it in good time. Unfortunately, as Wendy is walking across the
threshold of the new addition, a floorboard gives way and Wendy falls into
the crawl-space below, injuring her leg and back. Which commercial
general liability coverage could help cover the cost of Wendy's injuries? -
✔✔Completed Operations Liability
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©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
,In which case would the insured be indemnified by her auto liability
coverage? - ✔✔NOT: None; liability coverage never indemnifies the
insured. OR she causes property damage to her neighbor
Lucille owns her own woodworking business, building custom items such
as dressers, wooden trunks, and mantelpieces. A fire destroys her entire
operation and Lucille files a claim with her insurer. Which of the following
would be covered under Coverage A of the Building and Personal Property
Coverage Form in her commercial property policy? - ✔✔A bandsaw
permanently affixed to the floor
In which of these situations could a Mississippi insurer cancel a policy after
60 days with sufficient notice? - ✔✔The policyholder's son has his license
suspended during the policy period.
Bonnie's PAP includes Comprehensive coverage. Which of the following
losses could this coverage pay for? - ✔✔Bonnie's car catches fire
Sam suffers $6,000 in injuries when Nicole runs a red light and crashes her
uninsured car into Sam's. Sam's own insurance company, ABC Insurance,
immediately pays him $5,000 for his injuries. Sam then ponders whether to
file a $6,000 lawsuit against Nicole. Why can't Sam sue Nicole for the full
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©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
,amount of his injuries? - ✔✔By accepting payment from ABC Insurance,
Sam subrogated a portion of his rights against Nicole to ABC Insurance.
In order to be a licensed adjuster, a person must be at least ____ years
old. - ✔✔18
Grant works at ABC Convenience. One day, a man pulls up in an
expensive car and pays cash for his gas with a hundred dollar bill. Grant
accepts the bill without checking its validity. When Grant's manager checks
the bill later, he discovers it is a fake. Which commercial crime coverage
could protect ABC Convenience from financial loss associated with
accepting the fake hundred dollar bill? - ✔✔Money orders and counterfeit
paper currency
States that allow private insurers to offer workers' comp coverage as an
alternative to the state workers' comp fund are called: - ✔✔competitive
The Employee Retirement Income Security Act (ERISA): - ✔✔requires that
every fiduciary of an employee benefit plan and every person who handles
funds or other property of those plans must be bonded
Bill lives in Mississippi and has the minimum auto liability coverage
required for the state. He causes an accident that results in $35,000 in
property damage and $50,000 in bodily injury to another person. How much
3
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
, will Bill have to pay out of pocket for this accident? - ✔✔$10,000 in property
damage and $25,000 in medical expense
Which of the following statements regarding scheduled fidelity bonds is
FALSE? - ✔✔All employees are bonded for the same aggregate amount.
D'Anton spills coffee in his lap while driving, causing him to veer off the
road and smash into a telephone pole. Which part of his Auto Insurance
Policy will help him pay for the repairs to his car? - ✔✔Collision coverage
If an insurer decides to cancel a personal auto policy (for a reason other
than non-payment of premiums) after the policy has been in effect for 60
days, the insurer must provide written notice to the insured __________ in
advance. - ✔✔30 days
Acme Construction, Inc. has one contractor and one receptionist. The
contractor makes $25/hr, and the receptionist makes $10/hr. The contractor
worked exactly 8 hours in 2010, so he made $200. The receptionist worked
10 hours, so she made $100. Therefore, Acme's entire payroll for 2010 was
$300. Assume that, for every $100 of payroll, the WC rate for contractors is
$50 and the rate for receptionists is $5. How much did Acme owe in WC
premiums? - ✔✔$105
4
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
and Answers 100% Solved | Graded A+
Jerome was shopping at ABC Imports when a light fixture fell from the
ceiling and hit him on the head. Jerome's injuries resulted in an extended
hospital stay, so he sued ABC Imports and was awarded $400,000.
Assuming ABC Imports carries a CGL with a General Aggregate of
$750,000 and a per occurrence limit of $250,000, what is the maximum that
ABC's insurer will pay for Jerome's injuries? - ✔✔$250,000
Strict Liability: - ✔✔holds a person liable for his actions regardless of how
much care he demonstrates.
Wendy hires Jim to build an addition to her house. Jim takes the job and
finishes it in good time. Unfortunately, as Wendy is walking across the
threshold of the new addition, a floorboard gives way and Wendy falls into
the crawl-space below, injuring her leg and back. Which commercial
general liability coverage could help cover the cost of Wendy's injuries? -
✔✔Completed Operations Liability
1
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
,In which case would the insured be indemnified by her auto liability
coverage? - ✔✔NOT: None; liability coverage never indemnifies the
insured. OR she causes property damage to her neighbor
Lucille owns her own woodworking business, building custom items such
as dressers, wooden trunks, and mantelpieces. A fire destroys her entire
operation and Lucille files a claim with her insurer. Which of the following
would be covered under Coverage A of the Building and Personal Property
Coverage Form in her commercial property policy? - ✔✔A bandsaw
permanently affixed to the floor
In which of these situations could a Mississippi insurer cancel a policy after
60 days with sufficient notice? - ✔✔The policyholder's son has his license
suspended during the policy period.
Bonnie's PAP includes Comprehensive coverage. Which of the following
losses could this coverage pay for? - ✔✔Bonnie's car catches fire
Sam suffers $6,000 in injuries when Nicole runs a red light and crashes her
uninsured car into Sam's. Sam's own insurance company, ABC Insurance,
immediately pays him $5,000 for his injuries. Sam then ponders whether to
file a $6,000 lawsuit against Nicole. Why can't Sam sue Nicole for the full
2
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
,amount of his injuries? - ✔✔By accepting payment from ABC Insurance,
Sam subrogated a portion of his rights against Nicole to ABC Insurance.
In order to be a licensed adjuster, a person must be at least ____ years
old. - ✔✔18
Grant works at ABC Convenience. One day, a man pulls up in an
expensive car and pays cash for his gas with a hundred dollar bill. Grant
accepts the bill without checking its validity. When Grant's manager checks
the bill later, he discovers it is a fake. Which commercial crime coverage
could protect ABC Convenience from financial loss associated with
accepting the fake hundred dollar bill? - ✔✔Money orders and counterfeit
paper currency
States that allow private insurers to offer workers' comp coverage as an
alternative to the state workers' comp fund are called: - ✔✔competitive
The Employee Retirement Income Security Act (ERISA): - ✔✔requires that
every fiduciary of an employee benefit plan and every person who handles
funds or other property of those plans must be bonded
Bill lives in Mississippi and has the minimum auto liability coverage
required for the state. He causes an accident that results in $35,000 in
property damage and $50,000 in bodily injury to another person. How much
3
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
, will Bill have to pay out of pocket for this accident? - ✔✔$10,000 in property
damage and $25,000 in medical expense
Which of the following statements regarding scheduled fidelity bonds is
FALSE? - ✔✔All employees are bonded for the same aggregate amount.
D'Anton spills coffee in his lap while driving, causing him to veer off the
road and smash into a telephone pole. Which part of his Auto Insurance
Policy will help him pay for the repairs to his car? - ✔✔Collision coverage
If an insurer decides to cancel a personal auto policy (for a reason other
than non-payment of premiums) after the policy has been in effect for 60
days, the insurer must provide written notice to the insured __________ in
advance. - ✔✔30 days
Acme Construction, Inc. has one contractor and one receptionist. The
contractor makes $25/hr, and the receptionist makes $10/hr. The contractor
worked exactly 8 hours in 2010, so he made $200. The receptionist worked
10 hours, so she made $100. Therefore, Acme's entire payroll for 2010 was
$300. Assume that, for every $100 of payroll, the WC rate for contractors is
$50 and the rate for receptionists is $5. How much did Acme owe in WC
premiums? - ✔✔$105
4
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
