9/24/25, 3:44 PM NC Adjuster Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
NC Adjuster Exam Questions & Answers | Latest
Already Graded A+ UPDATE 2025|2026!!
Save
Terms in this set (135)
The most common C. The transfer of risk
method of risk
management is:
A. The sharing of risk
B. The assumption of risk
C. The transfer of risk
D. Risk avoidance
Which of the following C. Dynamic risk
types of risk is associated
with change is not
insurable?
A. Fundamental risk
B. Particular risk
C. Dynamic risk
D. Static risk
https://quizlet.com/1081805754/nc-adjuster-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 1/69
,9/24/25, 3:44 PM NC Adjuster Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
Insurers are able to D. The law of large numbers
calculate their probable
losses and to establish the
rates for premiums that
will cover losses and
operating expenses, by
using:
A. Insurable interest
B. Insurance
C. The principle of
indemnity
D. The law of large
numbers
The process by which an A. Underwriting
insurance company
selects certain types of
risks that have historically
produced a profit, and
rejecting those risks that
have historically produced
a loss, is known as:
A. Underwriting
B. Reinsurance
C. Risk avoidance
D. Risk control
https://quizlet.com/1081805754/nc-adjuster-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 2/69
,9/24/25, 3:44 PM NC Adjuster Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
Which of the following C. A morale hazard
"hazards" arise out of an
insured's attitude of
apathy toward causing or
preventing a loss?
A. A dynamic hazard
B. A moral hazard
C. A morale hazard
D. A physical hazard
Concealment A. Is the failure of the insured to reveal material facts
when applying for insurance
A. Is the failure of the
insured to reveal material
facts when applying for
insurance
B. Is an insurance
company making untrue
statements regarding the
provisions of an insurance
policy
C. Is making untrue
statements on an
application for insurance
D. Is lying when asked a
direct question regarding
an item on an insurance
policy
All of the following are B. Executory condition
elements of a valid
contract, EXCEPT:
A. Consideration
B. Executory condition
C. Offer and acceptance
D. Competent parties
https://quizlet.com/1081805754/nc-adjuster-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 3/69
, 9/24/25, 3:44 PM NC Adjuster Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
The insured person is the C. First party
_______ to the contract.
A. Third party
B. Promise
C. First party
D. Second party
Insurance contracts are A. Aleatory
contingent upon uncertain
events, that provide for
the unequal transfer of
value between the parties,
this is known as an _____
contract.
A. Aleatory
B. Adhesion
C. Conditional
D. Indemnification
Misrepresentations: A. Are untrue statements made by the insured on an
application for insurance
A. Are untrue statements
made by the insured on an
application for insurance
B. Are statements made
on an application for
insurance that are true to
the applicant's best
knowledge and belief
C. Are the failure of the
insured to reveal material
facts when applying for
insurance
D. A breach of one of the
policy conditions by the
insured
https://quizlet.com/1081805754/nc-adjuster-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 4/69
NC Adjuster Exam Questions & Answers | Latest
Already Graded A+ UPDATE 2025|2026!!
Save
Terms in this set (135)
The most common C. The transfer of risk
method of risk
management is:
A. The sharing of risk
B. The assumption of risk
C. The transfer of risk
D. Risk avoidance
Which of the following C. Dynamic risk
types of risk is associated
with change is not
insurable?
A. Fundamental risk
B. Particular risk
C. Dynamic risk
D. Static risk
https://quizlet.com/1081805754/nc-adjuster-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 1/69
,9/24/25, 3:44 PM NC Adjuster Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
Insurers are able to D. The law of large numbers
calculate their probable
losses and to establish the
rates for premiums that
will cover losses and
operating expenses, by
using:
A. Insurable interest
B. Insurance
C. The principle of
indemnity
D. The law of large
numbers
The process by which an A. Underwriting
insurance company
selects certain types of
risks that have historically
produced a profit, and
rejecting those risks that
have historically produced
a loss, is known as:
A. Underwriting
B. Reinsurance
C. Risk avoidance
D. Risk control
https://quizlet.com/1081805754/nc-adjuster-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 2/69
,9/24/25, 3:44 PM NC Adjuster Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
Which of the following C. A morale hazard
"hazards" arise out of an
insured's attitude of
apathy toward causing or
preventing a loss?
A. A dynamic hazard
B. A moral hazard
C. A morale hazard
D. A physical hazard
Concealment A. Is the failure of the insured to reveal material facts
when applying for insurance
A. Is the failure of the
insured to reveal material
facts when applying for
insurance
B. Is an insurance
company making untrue
statements regarding the
provisions of an insurance
policy
C. Is making untrue
statements on an
application for insurance
D. Is lying when asked a
direct question regarding
an item on an insurance
policy
All of the following are B. Executory condition
elements of a valid
contract, EXCEPT:
A. Consideration
B. Executory condition
C. Offer and acceptance
D. Competent parties
https://quizlet.com/1081805754/nc-adjuster-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 3/69
, 9/24/25, 3:44 PM NC Adjuster Exam Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026!! Flashcards | Quizlet
The insured person is the C. First party
_______ to the contract.
A. Third party
B. Promise
C. First party
D. Second party
Insurance contracts are A. Aleatory
contingent upon uncertain
events, that provide for
the unequal transfer of
value between the parties,
this is known as an _____
contract.
A. Aleatory
B. Adhesion
C. Conditional
D. Indemnification
Misrepresentations: A. Are untrue statements made by the insured on an
application for insurance
A. Are untrue statements
made by the insured on an
application for insurance
B. Are statements made
on an application for
insurance that are true to
the applicant's best
knowledge and belief
C. Are the failure of the
insured to reveal material
facts when applying for
insurance
D. A breach of one of the
policy conditions by the
insured
https://quizlet.com/1081805754/nc-adjuster-exam-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 4/69
