PUBLIC ADJUSTER
Program Trigger for terrorist acts must cause a collective damage in excess
of? correct
answers•
$100,000,000
TF A public adjuster may own no more than 50% in a salvage or similar
business?
correct
answers• F
General Average correct answers• Loss shared by all
parties
Particular Average correct answers• Only one party shares in
the loss.
In a home owner policy there is no deductible for correct answers•
Liability Coverage
In BOP covered property is listed and described in what part of the
contract? correct
answers• Declarations
page
What is not eligible for coverage under a livestock floater? correct
answersPoultry
What type of carrier must assume the broadest liability under common
law? correct
answersCommon
carriers
Named insured is never a ? correct answersLien Holder. Must have
interest in the
insurable
property.
How much extra coverage does the BOP allow for building code updates
on a loss?
correct
answers$10,000
HO-3 only covers for jewelry? correct answersActual Cash
Value
Promise by one party that is conditioned on an uncertain event and
whereby
given theeach
valueparty is unequal is called? correct
answersAleatory
An insurer has days to complete their investigation of a claim?
correct
answers30
days
Farm insurance coverage G covers? correct
answersSilos
Under equipment breakdown coverage, the full replacement cost will be
equipment is repaired in what time period after a loss? correct
provided if the
answers24 months.
, In the newest edition of the commercial property form, what is now
considered
the building?
part
correct
of answersVegetated
roofs
Which Dwelling forms provide broad form coverage for personal
property? correct
answersDP-2 and
DP-3
The homeowner personal property replacement cost endorsement
would pay
replacement cost for ? correct answersUsed
clothing
An insurer must acknowledge receipt of a claim within working days?
correct
answers1
0
An insurance contract is considered 4 things correct
Unilater l
answersAleatory
a
Adhesiv
Condition
e
al
Admitted insurers must be financially examined by the Pennsylvania
Department
insurance at of
least once every years? correct answers5
years.
A leased building has to be % unoccupied to be considered vacant
COMMERCIAL
under the PROPERTY policy? correct
answers31%
What about for BOP? A building must be % vacant to be considered
vacant?
correct
answers65%
BOP additional limit for debris removal is? correct
answers• 25,000
If an insurer wants to cancel or non-renew a policy covering personal
property,
much notice
howis needed? correct answers•
30 days
What is the limit that will be paid for the fire department service charge
in the correct
form? BOP answers•
$2,500
What is the limit that will be paid for the fire department service charge
in the correct
form? BOP answers•
$2,500
Under the homeowner forms, how much will be paid under claims expense
for loss ofby the insured to assist the insurer in the investigation or defense
earnings
correct answers• $250 per
of a claim?
day
The insured's dwelling has been vacant for 62 days. Vandals enter the
home and do
considerable damage. To cover up their act and to avoid detection, the
vandals set fire to the dwelling. The insurer will correct answers• Deny the
entire loss
Program Trigger for terrorist acts must cause a collective damage in excess
of? correct
answers•
$100,000,000
TF A public adjuster may own no more than 50% in a salvage or similar
business?
correct
answers• F
General Average correct answers• Loss shared by all
parties
Particular Average correct answers• Only one party shares in
the loss.
In a home owner policy there is no deductible for correct answers•
Liability Coverage
In BOP covered property is listed and described in what part of the
contract? correct
answers• Declarations
page
What is not eligible for coverage under a livestock floater? correct
answersPoultry
What type of carrier must assume the broadest liability under common
law? correct
answersCommon
carriers
Named insured is never a ? correct answersLien Holder. Must have
interest in the
insurable
property.
How much extra coverage does the BOP allow for building code updates
on a loss?
correct
answers$10,000
HO-3 only covers for jewelry? correct answersActual Cash
Value
Promise by one party that is conditioned on an uncertain event and
whereby
given theeach
valueparty is unequal is called? correct
answersAleatory
An insurer has days to complete their investigation of a claim?
correct
answers30
days
Farm insurance coverage G covers? correct
answersSilos
Under equipment breakdown coverage, the full replacement cost will be
equipment is repaired in what time period after a loss? correct
provided if the
answers24 months.
, In the newest edition of the commercial property form, what is now
considered
the building?
part
correct
of answersVegetated
roofs
Which Dwelling forms provide broad form coverage for personal
property? correct
answersDP-2 and
DP-3
The homeowner personal property replacement cost endorsement
would pay
replacement cost for ? correct answersUsed
clothing
An insurer must acknowledge receipt of a claim within working days?
correct
answers1
0
An insurance contract is considered 4 things correct
Unilater l
answersAleatory
a
Adhesiv
Condition
e
al
Admitted insurers must be financially examined by the Pennsylvania
Department
insurance at of
least once every years? correct answers5
years.
A leased building has to be % unoccupied to be considered vacant
COMMERCIAL
under the PROPERTY policy? correct
answers31%
What about for BOP? A building must be % vacant to be considered
vacant?
correct
answers65%
BOP additional limit for debris removal is? correct
answers• 25,000
If an insurer wants to cancel or non-renew a policy covering personal
property,
much notice
howis needed? correct answers•
30 days
What is the limit that will be paid for the fire department service charge
in the correct
form? BOP answers•
$2,500
What is the limit that will be paid for the fire department service charge
in the correct
form? BOP answers•
$2,500
Under the homeowner forms, how much will be paid under claims expense
for loss ofby the insured to assist the insurer in the investigation or defense
earnings
correct answers• $250 per
of a claim?
day
The insured's dwelling has been vacant for 62 days. Vandals enter the
home and do
considerable damage. To cover up their act and to avoid detection, the
vandals set fire to the dwelling. The insurer will correct answers• Deny the
entire loss
