PUBLIC ADJUSTER Q&A
Program Trigger for terrorist acts must cause a collective damage in excess of? - =•
$100,000,000
TF A public adjuster may own no more than 50% in a salvage or similar business? - =• F
General Average - =• Loss shared by all parties
Particular Average - =• Only one party shares in the loss.
In a home owner policy there is no deductible for - =• Liability Coverage
In BOP covered property is listed and described in what part of the contract? - =• Declarations
page
What is not eligible for coverage under a livestock floater? - =Poultry
What type of carrier must assume the broadest liability under common law? - =Common carriers
Named insured is never a _______? - =Lien Holder. Must have insurable interest in the property.
How much extra coverage does the BOP allow for building code updates on a loss? - =$10,000
HO-3 only covers ___________ for jewelry? - =Actual Cash Value
Promise by one party that is conditioned on an uncertain event and where the value given by
each party is unequal is called? - =Aleatory
An insurer has ________ days to complete their investigation of a claim? - =30 days
, Farm insurance coverage G covers? - =Silos
Under equipment breakdown coverage, the full replacement cost will be provided if the
equipment is repaired in what time period after a loss? - =24 months.
In the newest edition of the commercial property form, what is now considered part of the
building? - =Vegetated roofs
Which Dwelling forms provide broad form coverage for personal property? - =DP-2 and DP-3
The homeowner personal property replacement cost endorsement would pay replacement cost
for ___________? - =Used clothing
An insurer must acknowledge receipt of a claim within _______ working days? - =10
An insurance contract is considered 4 things - =Aleatory
Unilateral
Adhesive
Conditional
Admitted insurers must be financially examined by the Pennsylvania Department of insurance at
least once every _______ years? - =5 years.
A leased building has to be ____% unoccupied to be considered vacant under the
COMMERCIAL PROPERTY policy? - =31%
What about for BOP? A building must be _______% vacant to be considered vacant? - =65%
BOP additional limit for debris removal is? - =• 25,000
Program Trigger for terrorist acts must cause a collective damage in excess of? - =•
$100,000,000
TF A public adjuster may own no more than 50% in a salvage or similar business? - =• F
General Average - =• Loss shared by all parties
Particular Average - =• Only one party shares in the loss.
In a home owner policy there is no deductible for - =• Liability Coverage
In BOP covered property is listed and described in what part of the contract? - =• Declarations
page
What is not eligible for coverage under a livestock floater? - =Poultry
What type of carrier must assume the broadest liability under common law? - =Common carriers
Named insured is never a _______? - =Lien Holder. Must have insurable interest in the property.
How much extra coverage does the BOP allow for building code updates on a loss? - =$10,000
HO-3 only covers ___________ for jewelry? - =Actual Cash Value
Promise by one party that is conditioned on an uncertain event and where the value given by
each party is unequal is called? - =Aleatory
An insurer has ________ days to complete their investigation of a claim? - =30 days
, Farm insurance coverage G covers? - =Silos
Under equipment breakdown coverage, the full replacement cost will be provided if the
equipment is repaired in what time period after a loss? - =24 months.
In the newest edition of the commercial property form, what is now considered part of the
building? - =Vegetated roofs
Which Dwelling forms provide broad form coverage for personal property? - =DP-2 and DP-3
The homeowner personal property replacement cost endorsement would pay replacement cost
for ___________? - =Used clothing
An insurer must acknowledge receipt of a claim within _______ working days? - =10
An insurance contract is considered 4 things - =Aleatory
Unilateral
Adhesive
Conditional
Admitted insurers must be financially examined by the Pennsylvania Department of insurance at
least once every _______ years? - =5 years.
A leased building has to be ____% unoccupied to be considered vacant under the
COMMERCIAL PROPERTY policy? - =31%
What about for BOP? A building must be _______% vacant to be considered vacant? - =65%
BOP additional limit for debris removal is? - =• 25,000
