NC Claims Adjuster Exam Study Guide 2023 Complete

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 Answer A document that proves the existence of insurance coverage Occurrence - Correct Answer Something that continue to happen and may cause injury later on. Accident - Correct Answer A sudden unforseen and unintended one time event Assumption of risk - Correct Answer An individual who is aware of the potential risk involved and chose to expose themselves to it. Comparative negligence - Correct Answer Measures the amount of negligence contributed to each party. The injured party will not cover damages equal to the percentage of negligence they contribute. Contributory Negligence - Correct Answer If an insured party contributed to their injury in anyway due to their own negligence, we will not pay anything. What state is a contributory state? - Correct Answer North Carolina Negligence - Correct Answer Failure to do (or not do) what a reasonable prudent person would or would not have done in a similar instance. Temporary Substitute Automobile - Correct Answer Not owned by the named insured but used temporarily as a substitute for the owned auto that is not currently being used. What is an example of a Temporary substitute Automobile? - Correct Answer A dealership loans an insured a vehicle to drive while their car is getting fixed. Non Owned Automobile - Correct Answer Not owned by the named insured or any relative.