1
NC ADJUSTER LICENSE FINAL EXAM|| LATELY
UPDATE QUESTIONS AND 100% CORRECT ANSWERS
WITH A GUARANTEED A+|| LATEST AND COMPLETE
UPDATE WITH EXPERT VERIFIED SOLUTIONS||
ASSURED PASS!!!
Comprehensive personal liability - (answers)applies liability coverage to activities
or events occurring both on and off the premises.
Ex. The mailman slips and falls in your driveway.
National Flood Insurance Program (NFIP) - (answers)A government-sponsored
flood insurance program for communities in designated areas.
Standard Fire Policy - (answers)Insurance against property damage due to fire or
lightning
definitions section - (answers)the part of an insurance policy that explains specific
terms used throughout the policy, such as ?you? or ?your,? or ?family member?
risk - (answers)The chance of loss from an event that cannot be entirely
controlled
hazard - (answers)A danger or risk.
Peril - (answers)cause of loss
, 2
4 Parts of Insurance Contract? - (answers)Declarations
Conditions
Exclusions
Insuring Agreement
basic form - (answers)a form of a homeowners policy that insures property
against the basic perils Ex. Fire, lightning, hail, wind damage
Special Peril/Open Peril (All Risk) - (answers)cover all perils except for those that
are specifically excluded. If it doesn't state its not covered then it is covered. **if
there is a dispute over whether something is covered it would be the insurance
company's job to prove its not covered.
broad form - (answers)A property and liability policy that provides coverage for
landowners from eighteen specified perils.
HO-4 policy - (answers)Renters policy. Personal property covered for broad perils.
HO-5 Comprehensive Form - (answers)insures the dwelling, other structures, and
personal property against direct physical loss to property
HO-2 - (answers)(broad form): covers the dwelling, other structures, and personal
property on a named perils basis
NC ADJUSTER LICENSE FINAL EXAM|| LATELY
UPDATE QUESTIONS AND 100% CORRECT ANSWERS
WITH A GUARANTEED A+|| LATEST AND COMPLETE
UPDATE WITH EXPERT VERIFIED SOLUTIONS||
ASSURED PASS!!!
Comprehensive personal liability - (answers)applies liability coverage to activities
or events occurring both on and off the premises.
Ex. The mailman slips and falls in your driveway.
National Flood Insurance Program (NFIP) - (answers)A government-sponsored
flood insurance program for communities in designated areas.
Standard Fire Policy - (answers)Insurance against property damage due to fire or
lightning
definitions section - (answers)the part of an insurance policy that explains specific
terms used throughout the policy, such as ?you? or ?your,? or ?family member?
risk - (answers)The chance of loss from an event that cannot be entirely
controlled
hazard - (answers)A danger or risk.
Peril - (answers)cause of loss
, 2
4 Parts of Insurance Contract? - (answers)Declarations
Conditions
Exclusions
Insuring Agreement
basic form - (answers)a form of a homeowners policy that insures property
against the basic perils Ex. Fire, lightning, hail, wind damage
Special Peril/Open Peril (All Risk) - (answers)cover all perils except for those that
are specifically excluded. If it doesn't state its not covered then it is covered. **if
there is a dispute over whether something is covered it would be the insurance
company's job to prove its not covered.
broad form - (answers)A property and liability policy that provides coverage for
landowners from eighteen specified perils.
HO-4 policy - (answers)Renters policy. Personal property covered for broad perils.
HO-5 Comprehensive Form - (answers)insures the dwelling, other structures, and
personal property against direct physical loss to property
HO-2 - (answers)(broad form): covers the dwelling, other structures, and personal
property on a named perils basis
