NC adjuster Study guides, Class notes & Summaries

Manny is purchasing a Commercial Property policy with a Business Income form included. Manny can select from any of the following as a method to provide coverage, while avoiding the coinsurance requirement, EXCEPT: - CORRECT ANS The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - CORRECT ANS Replacement cost minus depreciation Sam and Dan are working to clean out the gutters around the roof on Sam's house. Sam and Dan ...

NC Adjuster License Practice Exam (With Complete Solution) 2024– 2025 NC Adjuster License Practice Exam (With Complete Solution) 2024– 2025/NC Adjuster License Practice Exam (With Complete Solution) 2024– 2025

Claims Adjuster Exam DUE 6 NOVEMBER 2023 Multi Peril-Package - CORRECT ANSWER-Any policy which provides property & liability coverage (not homeowner) ISO policy - CORRECT ANSWER-Sold in Texas, but not Texas form Only Texas DP 1 - CORRECT ANSWER-Mainly the only TDP sold, now with plethora of endorsements Texas Standard Fire Policy - CORRECT ANSWER-Granddaddy of all Texas property policies Business auto coverage e.g. - CORRECT ANSWER-Owner of a taxi to cover collision damage Inland...

NC - Health Insurance - Practice Exam Questions All of the following are true regarding Key Employee Disability Income insurance EXCEPT A) Premiums are not tax deductible for the employer. B) Benefits are taxable to the employer. C) The employer owns the policy. D) Benefits are paid to the employer to retrain a new person. - CORRECT ANSWER-B) Benefits are taxable to the employer. Key person disability income premiums are not deductible to the business, but the benefits are received...

NC Adjuster Exam UPGRADE 2023 QUESTION AND CORRECT ANSWER Utmost Good Faith - CORRECT ANSWER-Both parties must act honest and openly in order for the contract to be valid. Adhesion - CORRECT ANSWER-One party sets the terms for the contract; the other party may simply agree or disagree Unilateral - CORRECT ANSWER-Only the insurer makes a promise to act; the insured can void contract at any time. Personal - CORRECT ANSWER-The insured person is protected from loses not the personal pr...

NC Claims Adjuster Exam Study QUESTION AND CORRECT ANSWER GRADE A+ 2023/2024 Liability Insurance PAP (Part A) - CORRECT ANSWER-Pays all the sums and insured must legally pay as damage due to BI/PD caused by an accident and resulting from the ownership, maintenance or use of a covered auto. Coverage Part A through F of a PAP - CORRECT ANSWER-A. Liability B. Medical Payments C. UM/UIM D. Physical Damage E. Insured Duties F. General Provisions Certificate of Insurance (COI) - CORRECT...

NC Adjuster License Practice Exam DUE 6 NOVEMBER 2023 Manny is purchasing a Commercial Property policy with a Business Income form included. Manny can select from any of the following as a method to provide coverage, while avoiding the coinsurance requirement, EXCEPT: - CORREC T ANSWER-The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - CORREC T ANSWERReplacement cost minus depreciation Sam and Dan are working to clean o...

Utmost Good Faith - Both parties must act honest and openly in order for the contract to be valid. Adhesion - One party sets the terms for the contract; the other party may simply agree or disagree Unilateral - Only the insurer makes a promise to act; the insured can void contract at any time. Personal - The insured person is protected from loses not the personal property. Conditional - The insurer must only honor the contract if the insured meets certain conditions. Lavatory - The executi...

Robbery involves all of the following, EXCEPT: A. The presence of the insured B. Criminal intent C. A threat of violence D. Burglary - Answer D. Burglary Under the "Loss Sustained" Crime Insurance form, there is coverage while the policy is in force and for up to: A. 6 months after the policy expires B. One year after the policy expires C. 60 days after the policy expires D. 30 days after the policy expires - Answer B. One year after the policy expires Crime insurance terminology re...