GEORGIA ADJUSTER EXAM \/ GA ADJUSTER EXAM 2 LATEST VERSIONS 2023 (VERSION A & B) ACTUAL EXAM AND STUDY GUIDE 300 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES|ALREADY GRADED A+<\/p>\n\n\n\n
GEORGIA ADJUSTER EXAM \/ GA ADJUSTER EXAM 2
LATEST VERSIONS 2023 (VERSION A & B) ACTUAL
EXAM AND STUDY GUIDE 300 QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES|ALREADY GRADED A+
GEORGIA ADJUSTER EXAM VERSION A
Which common policy condition prohibits the insured from changing the
rights or duties as defined under the policy to any other person or entity
without the written consent of the insurance company?
Under the “transfer of rights and duties under the policy” condition, the
insured cannot transfer any rights or duties under the policy to any other
person or organization without the written consent of the insurance
company – ANSWER- Transfer of rights and duties under the policy
States with monopolistic state workers compensation funds\u2026Under the
monopolistic state fund program, no private insurer is allowed to market
competitive programs in the state. In such states, workers compensation
is available to all employers, but employer’s liability coverage may or
may not be offered. – ANSWER- Do not allow private insurers to be
licensed to write workers compensation coverage
In the BOP, Business Income Coverage is<\/p>\n\n\n\n
Business Income Coverage is an additional coverage in the policy,
making it automatically included. – ANSWER- Provided automatically
in the policy.
All of the following are supplemental payments found in liability
policies EXCEPT
Pays the company’s expenses, will not pay expenses incurred by the
insured unless incurred at the insurer’s request. – ANSWER- Costs the
insured incurred in hiring their own attorney
Under the commercial crime coverage inside the premises – robbery or
safe burglary of other property, what is the special per occurrence limit
that applies to loss or damage to precious metals, precious and
semiprecious stones, pearls, furs, manuscripts, drawings, or records? A
special limit of $5,000 per occurrence applies to loss or damage to
precious metals, precious and semiprecious stones, pearls, furs,
manuscripts, drawings or records. – ANSWER- $5000
Which of the following is NOT an optional coverage built into the
condominium association coverage form? Agreed value, inflation guard,
and replacement cost coverages are built into the condominium
association coverage form and may be activated by an entry on the
declarations page. – ANSWER- Real estate tax liability
What following limit shown in the declarations of a policy applies to
medical expenses?
A combined single limit of insurance is applicable for all bodily injury
and property damage losses that arise from a single occurrence. Medical<\/p>\n\n\n\n
expenses are limited to the per person limit shown on the declarations –
ANSWER- Per person
An owner and operator of a commercial business has included a
Business Income Coverage form with his Commercial Package policy.
When the business is severely damaged by fire, the business income
coverage will pay for
Profits that would have been realized if there had been no loss and the
expenses of the business that continue, even though the business is not
operating – ANSWER- Net income plus continuing expenses of the
business
Builder’s Risk is most often written on which form?
A building under construction could be insured on reporting forms, but
the value should only increase during the policy period. To prevent all
the administrative work required on reporting forms, most often
completed value forms are used. – ANSWER- Completed Value Form
What type of bond guarantees that a construction contractor will enter
into a contract at a set price?
When construction contracts projects are awarded based on the lowest
bid, the obligee usually requires a bid bond. The bid bond promises that
if the contractor is awarded the contract, the contractor actually will
accept the contract. – ANSWER- Bid Bond
Supplemental payments on a CGL provide all the following EXCEPT<\/p>\n\n\n\n
Supplemental payments will cover only $250 for these. – ANSWER- Up
to $500 a day for lost earnings and $2000 for the cost of bail bonds
In the event of a claim under a commercial general liability policy, the
insured has all the following duties to the insurer EXCEPT
Under medical payments, the injured third party has to submit to an
exam upon request, not the insured. – ANSWER- Submitting to a
medical exam when requested.
An insurance producer fails to obtain automobile insurance for client
after agreeing to do so. The client is involved in an automobile accident
after running a red light and is found to be at fault. The damage to the
other vehicle totals $5,000. Which statement regarding the producer’s
errors and omissions liability policy is true?
Errors and omissions coverage protects insurance producers and brokers
from financial losses they may suffer if an insured sues to recover his or
her financial loss due to the producer giving incorrect advice or not
informing the insured of important issues – ANSWER- It will provide
coverage because the damage to the client resulted from the producer’s
negligence.
Crews of ships are covered by
The Jones Act is a federal law that provides remedies to seamen who are
injured while working on a vessel. It extends the provisions of FELA. –
ANSWER- The Jones Act
An advertising company has its annual holiday party for employees and
customers, after which a customer who had too much to drink is
Powered by https:\/\/learnexams.com\/search\/study?query=aqa<\/a><\/p>\n\n\n\n