Oklahoma Insurance adjuster's exam Questions with Complete solutions

Oklahoma Insurance adjuster's exam Questions with Complete solutions Earth movement endorsement - Correct Answer • Separate premium dependent on the type of dwelling and how susceptible it is to earth quakes Deductible is a percentage of loss Home Day Care Coverage Endorsement - Correct Answer -homeowners policy endorsement used to provide coverage for home __________ businesses -Includes liability coverage -does not include coverage for sexual assault Personal property replacement cost - Correct Answer Homeowners policy endorsement that adds replacement cost coverage for personal property Scheduled personal property - Correct Answer endorsement - provides broader coverage for personal jewelry, furs, cameras, musical instruments, silverware, fine arts, golf equipment, and stamp/coin collections. must be insured on full value basis. • Typically provides open peril coverage Mobile Home Endorsement - Correct Answer alters the homeowners policy to cover a mobilehome and other structures on land owned or leased by the resident of the mobile home. • Alters a homeowner's policy • Coverage B is 2,000 or 10% of the Coverage A limit whichever is larger • 500 for removing the mobile home when needing to do repairs • 500 to move the home somewhere safe Personal Umbrella Policy - Correct Answer A policy covering (BI &PD) and Personal Injury Liability in excess of the insured's underlying policy limits. This provides excess coverage over the limits of an underlying policy. If an insured is liable after the policy limits have been met, this kicks in Basic Cause of Loss Form - Correct Answer FIRE LIGHTNING EXPLOSIONS WINDSTORMS OR HAIL