N.C. Claims Adjuster License Exam n n n n
Inception/Expiration Date n
(Ans-
n an insurance policy covers the insured starting at 12:01am on the day on wh
n n n n n n n n n n n n n
ich coverage begins and expires at 12:01am on the expiration day of the poli
n n n n n n n n n n n n n
cy.
Occurrence Date n
n (Ans- Date of which the loss occurred
n n n n n n
Identification of parties involved n n n
(Ans-
n The loss report should include the names and addresses of the parties invol
n n n n n n n n n n n n
ved in the loss, the names and addresses of any injured person(s) and the n
n n n n n n n n n n n n n n
ames and addresses of any witness(s).
n n n n n
Policy Form/Number n
n (Ans-
n Identifies the type of coverage purchased (policy form) and the policy numb
n n n n n n n n n n n
er for the particular policy purchased by the insured.
n n n n n n n n
Description of the Loss n n n
(Ans-
n Information concerning how, when and where the accident or loss happened is
n n n n n n n n n n n n
an essential element in any loss report.
n n n n n n
Coverage
n (Ans-
,n Shows the type of coverage(s) purchased as well as the limits of coverage purch
n n n n n n n n n n n n n
ased.
,Damages - Special Compensatory damages n n n n
n (Ans-
n Are amounts paid to compensate the plaintiff for direct expenses such as m
n n n n n n n n n n n n
edical treatment, lost wages (both past and future), funeral expenses and re
n n n n n n n n n n n
habilitation expenses required because of bodily injury. Special damages ar
n n n n n n n n n
e paid for losses that can be determined and documented. They are often ref
n n n n n n n n n n n n n
erred to as "out-of-pocket" expenses.
n n n n
Damages - General Compensatory Damages n n n n
n (Ans-
n Are paid for losses that cannot be specifically measured and itemized in ord
n n n n n n n n n n n n
er to compensate the plaintiff for things such as pain and suffering, loss of the
n n n n n n n n n n n n n n
n use of an arm or leg, loss of vision, physical disfigurement and/or loss of con
n n n n n n n n n n n n n n
sortium.
Damages - Punitive Damages n n n
(Ans-
n Are typically awarded to the plaintiff in addition to compensatory damages when
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n the defendants conduct has been especially malicious. Punitive damages are a
n n n n n n n n n n
warded to punish the defendant and to deter others from engaging in similar acti
n n n n n n n n n n n n n
ons.
Unfair Claims Settlement Practices
n n n
n (Ans-
1. Knowingly misrepresenting relevant facts or policy provisions relating to th
n n n n n n n n n n
e coverage at issue. 2. Failing to acknowledge with reasonable promptness
n n n n n n n n n n n
, communications pertaining to claims. 3. Failing to adopt and
n n n n n n n n
Inception/Expiration Date n
(Ans-
n an insurance policy covers the insured starting at 12:01am on the day on wh
n n n n n n n n n n n n n
ich coverage begins and expires at 12:01am on the expiration day of the poli
n n n n n n n n n n n n n
cy.
Occurrence Date n
n (Ans- Date of which the loss occurred
n n n n n n
Identification of parties involved n n n
(Ans-
n The loss report should include the names and addresses of the parties invol
n n n n n n n n n n n n
ved in the loss, the names and addresses of any injured person(s) and the n
n n n n n n n n n n n n n n
ames and addresses of any witness(s).
n n n n n
Policy Form/Number n
n (Ans-
n Identifies the type of coverage purchased (policy form) and the policy numb
n n n n n n n n n n n
er for the particular policy purchased by the insured.
n n n n n n n n
Description of the Loss n n n
(Ans-
n Information concerning how, when and where the accident or loss happened is
n n n n n n n n n n n n
an essential element in any loss report.
n n n n n n
Coverage
n (Ans-
,n Shows the type of coverage(s) purchased as well as the limits of coverage purch
n n n n n n n n n n n n n
ased.
,Damages - Special Compensatory damages n n n n
n (Ans-
n Are amounts paid to compensate the plaintiff for direct expenses such as m
n n n n n n n n n n n n
edical treatment, lost wages (both past and future), funeral expenses and re
n n n n n n n n n n n
habilitation expenses required because of bodily injury. Special damages ar
n n n n n n n n n
e paid for losses that can be determined and documented. They are often ref
n n n n n n n n n n n n n
erred to as "out-of-pocket" expenses.
n n n n
Damages - General Compensatory Damages n n n n
n (Ans-
n Are paid for losses that cannot be specifically measured and itemized in ord
n n n n n n n n n n n n
er to compensate the plaintiff for things such as pain and suffering, loss of the
n n n n n n n n n n n n n n
n use of an arm or leg, loss of vision, physical disfigurement and/or loss of con
n n n n n n n n n n n n n n
sortium.
Damages - Punitive Damages n n n
(Ans-
n Are typically awarded to the plaintiff in addition to compensatory damages when
n n n n n n n n n n n
n the defendants conduct has been especially malicious. Punitive damages are a
n n n n n n n n n n
warded to punish the defendant and to deter others from engaging in similar acti
n n n n n n n n n n n n n
ons.
Unfair Claims Settlement Practices
n n n
n (Ans-
1. Knowingly misrepresenting relevant facts or policy provisions relating to th
n n n n n n n n n n
e coverage at issue. 2. Failing to acknowledge with reasonable promptness
n n n n n n n n n n n
, communications pertaining to claims. 3. Failing to adopt and
n n n n n n n n
