Studysage
All Lines Adjuster Exam REVIEW
QUESTIONS WITH 100% UPDATED
ANSWERS.GET A PASS ON YOUR
FIRST TRIAL.
The insured has filed a claim under the "Business Income Department Properties -
Broad Form" because the primary buyer of products and services from the
business has filed for bankruptcy under this form the primary buyers business
would be known as - CORRECT ANSWERS✔️✔️A recipient location
recipient location - CORRECT ANSWERS✔️✔️Businesses who support insured by
being the primary buyer for their products
HO-3 (special form) - CORRECT ANSWERS✔️✔️covers the dwelling and other
structures on a risk-of-direct-physical loss basis. All direct physical losses are
covered except those losses specifically excluded. Personal property is covered on
a named perils basis
HO-5 Comprehensive Form - CORRECT ANSWERS✔️✔️provides open perils
coverage ("all-risks coverage") on the dwelling, other structures and personal
property.
HO-2 (broad form) - CORRECT ANSWERS✔️✔️covers the dwelling, other
structures, and personal property on a named perils basis
HO-4 (contents broad form) - CORRECT ANSWERS✔️✔️Only covers a tenant's
personal property on a named perils basis
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The dwelling is insured for 200,000 under DP-2 dwelling policy how much
coverage applies to the barn? - CORRECT ANSWERS✔️✔️Nothing farm property
are not eligible under the dwelling policy.
A Covered Auto includes those vehicle(s) listed on the Declarations, plus any
trailers or wagons owned by the Named Insured, any newly acquired vehicles, and
any vehicle used as a _________. - CORRECT ANSWERS✔️✔️Temporary
Substitute Auto
The covered auto is defined in the policy as all of the following EXCEPT:
A) any additional auto acquired in the past 30 days.
B) any auto shown in the declarations.
C) any auto used as a temporary substitute while an insured auto is being
repaired.
D) any trailer owned by the insured or spouse. - CORRECT
ANSWERS✔️✔️Answer: A
An additional auto acquired during the policy period is considered a covered auto.
However, some restrictions do apply. For example, if the newly acquired auto is in
addition to any vehicle shown on the declarations, it must be insured within 14
days of the purchase date. If it replaces one of the cars, the insured does not need
to add it during that policy period.
Coverage F on homeowners policy provides - CORRECT ANSWERS✔️✔M ️ edical
payments to others; pays all necessary medical expenses for up to three years
after an accident.
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Coverage F: Medical Payments to Others - CORRECT ANSWERS✔️✔️Does not
apply to the insured or members of the insured's household
Not liability coverage and is not base on fault
An insured has taken inventory of his merchandise and discovers a substantial
shortage of valuable stock. He submits a claim to his insurance carrier that
provides his coverage under a Business Owners Policy. What coverage is provided
by the BOP? - CORRECT ANSWERS✔️✔️No coverage would apply, there is no
coverage for missing property when there is no physical evidence to show cause
of loss
Arbitration (ADR) - CORRECT ANSWERS✔️✔️Neutral third party hears a dispute
and makes a decision both parties have agreed to follow.
Mediation - CORRECT ANSWERS✔️✔️A method of settling disputes outside of
court by using the services of a neutral third party, called a mediator. The
mediator acts as a communicating agent between the parties and suggests ways
in which the parties can resolve their dispute. Not binding.
Difference between Arbitration and Meditation? - CORRECT
ANSWERS✔️✔️Mediation is not binding, Arbitration is.
Mediation-Arbitration - CORRECT ANSWERS✔️✔️If the parties cannot reach a
settlement through mediation, an arbitrator will resolve the dispute.
The building and personal property coverage form provides coverage for outdoor
signs - CORRECT ANSWERS✔️✔️Whether attached to the building or not for up
to 2,500 if damaged by a peril insured against.
success
All Lines Adjuster Exam REVIEW
QUESTIONS WITH 100% UPDATED
ANSWERS.GET A PASS ON YOUR
FIRST TRIAL.
The insured has filed a claim under the "Business Income Department Properties -
Broad Form" because the primary buyer of products and services from the
business has filed for bankruptcy under this form the primary buyers business
would be known as - CORRECT ANSWERS✔️✔️A recipient location
recipient location - CORRECT ANSWERS✔️✔️Businesses who support insured by
being the primary buyer for their products
HO-3 (special form) - CORRECT ANSWERS✔️✔️covers the dwelling and other
structures on a risk-of-direct-physical loss basis. All direct physical losses are
covered except those losses specifically excluded. Personal property is covered on
a named perils basis
HO-5 Comprehensive Form - CORRECT ANSWERS✔️✔️provides open perils
coverage ("all-risks coverage") on the dwelling, other structures and personal
property.
HO-2 (broad form) - CORRECT ANSWERS✔️✔️covers the dwelling, other
structures, and personal property on a named perils basis
HO-4 (contents broad form) - CORRECT ANSWERS✔️✔️Only covers a tenant's
personal property on a named perils basis
success
,Studysage
The dwelling is insured for 200,000 under DP-2 dwelling policy how much
coverage applies to the barn? - CORRECT ANSWERS✔️✔️Nothing farm property
are not eligible under the dwelling policy.
A Covered Auto includes those vehicle(s) listed on the Declarations, plus any
trailers or wagons owned by the Named Insured, any newly acquired vehicles, and
any vehicle used as a _________. - CORRECT ANSWERS✔️✔️Temporary
Substitute Auto
The covered auto is defined in the policy as all of the following EXCEPT:
A) any additional auto acquired in the past 30 days.
B) any auto shown in the declarations.
C) any auto used as a temporary substitute while an insured auto is being
repaired.
D) any trailer owned by the insured or spouse. - CORRECT
ANSWERS✔️✔️Answer: A
An additional auto acquired during the policy period is considered a covered auto.
However, some restrictions do apply. For example, if the newly acquired auto is in
addition to any vehicle shown on the declarations, it must be insured within 14
days of the purchase date. If it replaces one of the cars, the insured does not need
to add it during that policy period.
Coverage F on homeowners policy provides - CORRECT ANSWERS✔️✔M ️ edical
payments to others; pays all necessary medical expenses for up to three years
after an accident.
success
, Studysage
Coverage F: Medical Payments to Others - CORRECT ANSWERS✔️✔️Does not
apply to the insured or members of the insured's household
Not liability coverage and is not base on fault
An insured has taken inventory of his merchandise and discovers a substantial
shortage of valuable stock. He submits a claim to his insurance carrier that
provides his coverage under a Business Owners Policy. What coverage is provided
by the BOP? - CORRECT ANSWERS✔️✔️No coverage would apply, there is no
coverage for missing property when there is no physical evidence to show cause
of loss
Arbitration (ADR) - CORRECT ANSWERS✔️✔️Neutral third party hears a dispute
and makes a decision both parties have agreed to follow.
Mediation - CORRECT ANSWERS✔️✔️A method of settling disputes outside of
court by using the services of a neutral third party, called a mediator. The
mediator acts as a communicating agent between the parties and suggests ways
in which the parties can resolve their dispute. Not binding.
Difference between Arbitration and Meditation? - CORRECT
ANSWERS✔️✔️Mediation is not binding, Arbitration is.
Mediation-Arbitration - CORRECT ANSWERS✔️✔️If the parties cannot reach a
settlement through mediation, an arbitrator will resolve the dispute.
The building and personal property coverage form provides coverage for outdoor
signs - CORRECT ANSWERS✔️✔️Whether attached to the building or not for up
to 2,500 if damaged by a peril insured against.
success
