NC Adjuster License Practice
Exam (With Complete
Solution) 2023 – 2024
,NC Adjuster License Practice Exam
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:
(Ans- The maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is:
(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 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 policy under Coverage E - Personal Liability?
(Ans- Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following,
EXCEPT:
(Ans- 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: (Ans- $2,000
, All of the following is considered an "insured" under a CGL policy,
EXCEPT:
(Ans- 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?
(Ans- Owners and Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a
Businessowners policy?
(Ans- 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?
(Ans- 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
(Ans- 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.
Exam (With Complete
Solution) 2023 – 2024
,NC Adjuster License Practice Exam
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:
(Ans- The maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is:
(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 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 policy under Coverage E - Personal Liability?
(Ans- Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following,
EXCEPT:
(Ans- 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: (Ans- $2,000
, All of the following is considered an "insured" under a CGL policy,
EXCEPT:
(Ans- 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?
(Ans- Owners and Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a
Businessowners policy?
(Ans- 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?
(Ans- 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
(Ans- 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.
