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NC ADJUSTER LICENSE STUDY GUIDE EXAM
NEWEST ACTUAL EXAM WITH COMPLETE
QUESTIONS AND CORRECT VERIFIED ANSWERS
(DETAILED ANSWERS) ALREADY GRADED A+
100% GUARANTEED TO PASS CONCEPTS!!!
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 at the top of separate ladders that are
propped against the side of Sam's house, when Dan's
ladder begins to wobble and ultimately falls into Sam's
ladder. Both men and their ladders crash to the ground.
Whose injuries will be covered by Sam's Homeowners
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policy under Coverage E - Personal Liability? -
....ANSWER ....✔✔ Only Dan's injuries would be
covered
Torts that can be covered by insurance policies include
all of the following, EXCEPT: - ....ANSWER ....✔✔
Intentional torts purposely committed to cause harm to
another.
The insured has a $1,000,000 personal umbrella policy
with a $5,000 retention limit. For a $7,000 liability loss
not covered under the insured's personal auto policy, but
covered under the umbrella policy, the insurance
company would pay: - ....ANSWER ....✔✔ $2,000
All of the following is considered an "insured" under a
CGL policy, EXCEPT: - ....ANSWER ....✔✔ Lawyers of
the named insured
What specific type of liability policy gives an owner
protection against liability claims arising out of the acts
of its independent contractors? - ....ANSWER ....✔✔
Owners and Contractors Protective Liability Policy.
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Which of the following would be eligible for coverage
under a Businessowners policy? - ....ANSWER ....✔✔ A
small retail store
Which of the following is NOT a correct statement in
determining the cost of a "comparable automobile"
when a physical damage loss has a occurred? -
....ANSWER ....✔✔ The cost of a comparable
automobile as determined by a computerized
automobile valuation service that produces statistically
valid fair market values within the United States market
All of the following statements are TRUE of North
Carolina automobile liability policies, EXCEPT -
....ANSWER ....✔✔ If the insured carries limits greater
than the minimum financial responsibility limits required
by state law, they are not required to carry
Uninsured/Underinsured Motorists coverage.
The basic limit for Coverage F -- Medical Payments of
the standard Homeowners forms is: - ....ANSWER
....✔✔ $1,000 per person
Oliver Dogwood was in an auto accident which
destroyed his car. While investigating the accident,
Adjuster Doright found that Mr. Dogwood paid $1,000
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for the vehicle. After checking with others he found the
same vehicle with an asking price of $1,700, a retail
price of $2,150 and a dealer price of $1,750. What
amount will Mr. Dogwood receive? - ....ANSWER
....✔✔ $2,150
When a claims representative is collecting information
from a third-party claimant, which of the following is the
information that should be obtained first? - ....ANSWER
....✔✔ The nature and extent of the injuries or
property damage claimed.
The Business Auto uses Symbol 7 to cover "specifically
described autos" identified in the declarations. An auto
acquired during the policy period will only be covered:
- ....ANSWER ....✔✔ If the insured insures all of their
vehicles with the company or it replaces a covered
auto..
What coverage under the BOP automatically applies if
a customer slips and falls on the named insured's
premises, regardless of legal liability? - ....ANSWER
....✔✔ Medical expense coverage
NC ADJUSTER LICENSE STUDY GUIDE EXAM
NEWEST ACTUAL EXAM WITH COMPLETE
QUESTIONS AND CORRECT VERIFIED ANSWERS
(DETAILED ANSWERS) ALREADY GRADED A+
100% GUARANTEED TO PASS CONCEPTS!!!
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 at the top of separate ladders that are
propped against the side of Sam's house, when Dan's
ladder begins to wobble and ultimately falls into Sam's
ladder. Both men and their ladders crash to the ground.
Whose injuries will be covered by Sam's Homeowners
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policy under Coverage E - Personal Liability? -
....ANSWER ....✔✔ Only Dan's injuries would be
covered
Torts that can be covered by insurance policies include
all of the following, EXCEPT: - ....ANSWER ....✔✔
Intentional torts purposely committed to cause harm to
another.
The insured has a $1,000,000 personal umbrella policy
with a $5,000 retention limit. For a $7,000 liability loss
not covered under the insured's personal auto policy, but
covered under the umbrella policy, the insurance
company would pay: - ....ANSWER ....✔✔ $2,000
All of the following is considered an "insured" under a
CGL policy, EXCEPT: - ....ANSWER ....✔✔ Lawyers of
the named insured
What specific type of liability policy gives an owner
protection against liability claims arising out of the acts
of its independent contractors? - ....ANSWER ....✔✔
Owners and Contractors Protective Liability Policy.
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Which of the following would be eligible for coverage
under a Businessowners policy? - ....ANSWER ....✔✔ A
small retail store
Which of the following is NOT a correct statement in
determining the cost of a "comparable automobile"
when a physical damage loss has a occurred? -
....ANSWER ....✔✔ The cost of a comparable
automobile as determined by a computerized
automobile valuation service that produces statistically
valid fair market values within the United States market
All of the following statements are TRUE of North
Carolina automobile liability policies, EXCEPT -
....ANSWER ....✔✔ If the insured carries limits greater
than the minimum financial responsibility limits required
by state law, they are not required to carry
Uninsured/Underinsured Motorists coverage.
The basic limit for Coverage F -- Medical Payments of
the standard Homeowners forms is: - ....ANSWER
....✔✔ $1,000 per person
Oliver Dogwood was in an auto accident which
destroyed his car. While investigating the accident,
Adjuster Doright found that Mr. Dogwood paid $1,000
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for the vehicle. After checking with others he found the
same vehicle with an asking price of $1,700, a retail
price of $2,150 and a dealer price of $1,750. What
amount will Mr. Dogwood receive? - ....ANSWER
....✔✔ $2,150
When a claims representative is collecting information
from a third-party claimant, which of the following is the
information that should be obtained first? - ....ANSWER
....✔✔ The nature and extent of the injuries or
property damage claimed.
The Business Auto uses Symbol 7 to cover "specifically
described autos" identified in the declarations. An auto
acquired during the policy period will only be covered:
- ....ANSWER ....✔✔ If the insured insures all of their
vehicles with the company or it replaces a covered
auto..
What coverage under the BOP automatically applies if
a customer slips and falls on the named insured's
premises, regardless of legal liability? - ....ANSWER
....✔✔ Medical expense coverage
