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 Exam CORRECT ANSWERS REVISED 2023 Inception/Expiration Date - correct answersThe date on which coverage became effective or expired. Policies in North Carolina become effective and expire at 12:01am Occurrence Date - correct answersThe date on which the loss occurred Identification of Parties involve - correct answersThe loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names an...

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 termi...

The most common method of risk management is: A. The sharing of risk B. The assumption of risk C. The transfer of risk D. Risk avoidance - Answer- C. The transfer of risk Which of the following types of risk is associated with change is not insurable? A. Fundamental risk B. Particular risk C. Dynamic risk D. Static risk - Answer- C. Dynamic risk Insurers are able to calculate their probable losses and to establish the rates for premiums that will cover losses and operating expe...

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: - Answer- The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - Answer- Replacement cost minus depreciation Sam and Dan are working to clean out the gutters around the roof on Sam's house. Sam and Dan are standing a...

NC Adjuster’s exam Part I Q&As || 100% Correct Solutions || 2023

NC Adjuster Exam Update 2023(100% correct solutions)

NC adjuster Exam Questions With Verified Solutions NC adjuster Exam Questions and Answers Inception/Expiration Date - ANSThe date on which coverage became effective or expired. Policies in North Carolina become effective and expire at 12:01am Occurrence Date - ANSThe date on which the loss occurred Identification of Parties involve - ANSThe loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names...

Insurance Adjuster Exam Which kind of losses are covered under a standard fire policy? - ANSWER Direct All fires are not covered by the Standard Fire policies, only those that: - ANSWER are hostile and have a flame or glow At what time does a fire policy go into affect? - ANSWER 12:01am standard time at the location of the insured's property A property is insured under two Standard Fire policies for $25,000 each. A fire causes $10,000 worth of damage. What is the maximum amount the ...