PUBLIC ADJUSTER EXAM QUESTIONS WITH ACCURATE
ANSWERS.
Program Trigger for terrorist acts must cause a collective damage in excess
of? - accurate answers-• $100,000,000
TF A public adjuster may own no more than 50% in a salvage or similar
business? - accurate answers-• F
General Average - accurate answers-• Loss shared by all parties
Particular Average - accurate answers-• Only one party shares in the loss.
In a home owner policy there is no deductible for - accurate answers-•
Liability Coverage
In BOP covered property is listed and described in what part of the contract? -
accurate answers-• Declarations page
What is not eligible for coverage under a livestock floater? - accurate answers-
Poultry
What type of carrier must assume the broadest liability under common law? -
accurate answers-Common carriers
Named insured is never a _______? - accurate answers-Lien Holder. Must have
insurable interest in the property.
How much extra coverage does the BOP allow for building code updates on a
loss? - accurate answers-$10,000
HO-3 only covers ___________ for jewelry? - accurate answers-Actual Cash Value
Promise by one party that is conditioned on an uncertain event and where the
value given by each party is unequal is called? - accurate answers-Aleatory
An insurer has ________ days to complete their investigation of a claim? -
accurate answers-30 days
, Farm insurance coverage G covers? - accurate answers-Silos
Under equipment breakdown coverage, the full replacement cost will be
provided if the equipment is repaired in what time period after a loss? -
accurate answers-24 months.
In the newest edition of the commercial property form, what is now
considered part of the building? - accurate answers-Vegetated roofs
Which Dwelling forms provide broad form coverage for personal property? -
accurate answers-DP-2 and DP-3
The homeowner personal property replacement cost endorsement would pay
replacement cost for ___________? - accurate answers-Used clothing
An insurer must acknowledge receipt of a claim within _______ working days? -
accurate answers-10
An insurance contract is considered 4 things - accurate answers-Aleatory
Unilateral
Adhesive
Conditional
Admitted insurers must be financially examined by the Pennsylvania
Department of insurance at least once every _______ years? - accurate answers-
5 years.
A leased building has to be ____% unoccupied to be considered vacant under
the COMMERCIAL PROPERTY policy? - accurate answers-31%
What about for BOP? A building must be _______% vacant to be considered
vacant? - accurate answers-65%
BOP additional limit for debris removal is? - accurate answers-• 25,000
If an insurer wants to cancel or non-renew a policy covering personal
property, how much notice is needed? - accurate answers-• 30 days
ANSWERS.
Program Trigger for terrorist acts must cause a collective damage in excess
of? - accurate answers-• $100,000,000
TF A public adjuster may own no more than 50% in a salvage or similar
business? - accurate answers-• F
General Average - accurate answers-• Loss shared by all parties
Particular Average - accurate answers-• Only one party shares in the loss.
In a home owner policy there is no deductible for - accurate answers-•
Liability Coverage
In BOP covered property is listed and described in what part of the contract? -
accurate answers-• Declarations page
What is not eligible for coverage under a livestock floater? - accurate answers-
Poultry
What type of carrier must assume the broadest liability under common law? -
accurate answers-Common carriers
Named insured is never a _______? - accurate answers-Lien Holder. Must have
insurable interest in the property.
How much extra coverage does the BOP allow for building code updates on a
loss? - accurate answers-$10,000
HO-3 only covers ___________ for jewelry? - accurate answers-Actual Cash Value
Promise by one party that is conditioned on an uncertain event and where the
value given by each party is unequal is called? - accurate answers-Aleatory
An insurer has ________ days to complete their investigation of a claim? -
accurate answers-30 days
, Farm insurance coverage G covers? - accurate answers-Silos
Under equipment breakdown coverage, the full replacement cost will be
provided if the equipment is repaired in what time period after a loss? -
accurate answers-24 months.
In the newest edition of the commercial property form, what is now
considered part of the building? - accurate answers-Vegetated roofs
Which Dwelling forms provide broad form coverage for personal property? -
accurate answers-DP-2 and DP-3
The homeowner personal property replacement cost endorsement would pay
replacement cost for ___________? - accurate answers-Used clothing
An insurer must acknowledge receipt of a claim within _______ working days? -
accurate answers-10
An insurance contract is considered 4 things - accurate answers-Aleatory
Unilateral
Adhesive
Conditional
Admitted insurers must be financially examined by the Pennsylvania
Department of insurance at least once every _______ years? - accurate answers-
5 years.
A leased building has to be ____% unoccupied to be considered vacant under
the COMMERCIAL PROPERTY policy? - accurate answers-31%
What about for BOP? A building must be _______% vacant to be considered
vacant? - accurate answers-65%
BOP additional limit for debris removal is? - accurate answers-• 25,000
If an insurer wants to cancel or non-renew a policy covering personal
property, how much notice is needed? - accurate answers-• 30 days
