NC Adjuster License Practice Exam Questions &
Detailed Solutions.
Terms in this set (135)
Manny is purchasing a The maximum monthly limit of indemnity optional coverage
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:
Replacement cost minus depreciation
The traditional definition of
actual cash value (ACV) is:
,Sam and Dan are working to Only Dan's injuries would be covered
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?
Torts that can be covered by Intentional torts purposely committed to cause harm to
insurance policies include all another.
of the following, EXCEPT:
$2,000
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:
,All of the following is Lawyers of the named insured
considered an "insured"
under a CGL policy,
EXCEPT:
What specific type of liability Owners and Contractors Protective Liability Policy.
policy gives an owner
protection against liability
claims arising out of the acts
of its independent
contractors?
Which of the following A small retail store
would be eligible for
coverage under a
Businessowners policy?
Which of the following is The cost of a comparable automobile as determined by a
NOT a correct statement in computerized automobile valuation service that produces
determining the cost of a statistically valid fair market values within the United States
"comparable automobile" market
when a physical damage loss
has a occurred?
All of the following If the insured carries limits greater than the minimum
statements are TRUE of financial responsibility limits required by state law, they are
North Carolina
not required to carry
automobile liability
policies, EXCEPT Uninsured/Underinsured Motorists coverage.
The basic limit for $1,000 per person
Coverage F -- Medical
Payments of the standard
Homeowners forms is:
, Oliver Dogwood was in an $2,150
auto accident which
destroyed his car. While
investigating the accident,
Adjuster Doright found that
Mr. Dogwood paid $1,000 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?
When a claims The nature and extent of the injuries or property damage
representative is collecting claimed.
information from a third-
party claimant, which of the
following is the information
that should be obtained
first?
If the insured insures all of their vehicles with the company or it
replaces a covered auto..
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:
Detailed Solutions.
Terms in this set (135)
Manny is purchasing a The maximum monthly limit of indemnity optional coverage
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:
Replacement cost minus depreciation
The traditional definition of
actual cash value (ACV) is:
,Sam and Dan are working to Only Dan's injuries would be covered
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?
Torts that can be covered by Intentional torts purposely committed to cause harm to
insurance policies include all another.
of the following, EXCEPT:
$2,000
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:
,All of the following is Lawyers of the named insured
considered an "insured"
under a CGL policy,
EXCEPT:
What specific type of liability Owners and Contractors Protective Liability Policy.
policy gives an owner
protection against liability
claims arising out of the acts
of its independent
contractors?
Which of the following A small retail store
would be eligible for
coverage under a
Businessowners policy?
Which of the following is The cost of a comparable automobile as determined by a
NOT a correct statement in computerized automobile valuation service that produces
determining the cost of a statistically valid fair market values within the United States
"comparable automobile" market
when a physical damage loss
has a occurred?
All of the following If the insured carries limits greater than the minimum
statements are TRUE of financial responsibility limits required by state law, they are
North Carolina
not required to carry
automobile liability
policies, EXCEPT Uninsured/Underinsured Motorists coverage.
The basic limit for $1,000 per person
Coverage F -- Medical
Payments of the standard
Homeowners forms is:
, Oliver Dogwood was in an $2,150
auto accident which
destroyed his car. While
investigating the accident,
Adjuster Doright found that
Mr. Dogwood paid $1,000 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?
When a claims The nature and extent of the injuries or property damage
representative is collecting claimed.
information from a third-
party claimant, which of the
following is the information
that should be obtained
first?
If the insured insures all of their vehicles with the company or it
replaces a covered auto..
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:
