NC Adjuster License Exam Prep Material Newest
2025/2026 Complete Questions And Correct
Answers (Verified Answers)|Brand New Version!
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: - CORRECT
ANSWER-The maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is: - CORRECT 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 policy under Coverage E -
Personal Liability? - CORRECT ANSWER-Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following,
EXCEPT: - CORRECT 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:
- CORRECT ANSWER-$2,000
All of the following is considered an "insured" under a CGL policy, EXCEPT: -
CORRECT 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? - CORRECT ANSWER-
Owners and Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a Businessowners
policy? - CORRECT 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? - CORRECT
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 - CORRECT 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: - CORRECT 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
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? - CORRECT 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? -
CORRECT 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: - CORRECT 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? - CORRECT ANSWER-
Medical expense coverage
When an insurer is called upon to defend a suit under a CGL policy, the amount
that can be paid for the defense costs is: - CORRECT ANSWER-Not limited
2025/2026 Complete Questions And Correct
Answers (Verified Answers)|Brand New Version!
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: - CORRECT
ANSWER-The maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is: - CORRECT 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 policy under Coverage E -
Personal Liability? - CORRECT ANSWER-Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following,
EXCEPT: - CORRECT 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:
- CORRECT ANSWER-$2,000
All of the following is considered an "insured" under a CGL policy, EXCEPT: -
CORRECT 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? - CORRECT ANSWER-
Owners and Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a Businessowners
policy? - CORRECT 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? - CORRECT
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 - CORRECT 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: - CORRECT 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
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? - CORRECT 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? -
CORRECT 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: - CORRECT 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? - CORRECT ANSWER-
Medical expense coverage
When an insurer is called upon to defend a suit under a CGL policy, the amount
that can be paid for the defense costs is: - CORRECT ANSWER-Not limited
