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FREE AND STUDY GAMES ABOUT SC ADJUSTER'S EXAM
Actual Qs and Ans Expert-Verified Explanation
This Exam contains:
-Guarantee passing score -90 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation
Question 1: What is symbol 19 of a BAP?
Answer:
Mobile equipment.
Question 2: What is Aleatory?
Answer:
A characteristic of an insurance contract. Means "depending on an unknown future event."
Question 3: Coverage E of an HO covers what?
Answer:
Personal liability: pays for bodily injury and property damage to third party if insured found negligent.Never pays the insured.
Question 4: Describe HO-4
Answer:
(4-rent) Contents Broad Form is the tenants' form and is a special, contents-only policy for renters. Does not insure house or other structures.
Question 5: What is an Advanced Payment Settlement?
Answer:
A settlement option that lets the insurer offer some financial relief to the claimant before the claim has been fully settled. Often used when a claimant suffers bodily injury and is unable to work.
Question 6: What is part E of a PAP?
Answer:
Duties after loss
Question 7: When is a non-waiver agreement often used?
Answer:
When an independent adjuster is investigating a claim in a catastrophe situation
Question 8: What is a Risk Retention Group?
Answer:
Groups where the members insure each other, using their own capital to write insurance policies.
Question 9: Does a BOP provide coverage for businesses on an open-peril basis?
Answer:
Yes
Question 10: What information is found on a Declarations Page
Answer:
Also called the Dec Page. First page of a policy, which provides a summary of the contract; includes names of insured, addresses, coverage limits, policy period, etc.Location of property, Any applicable endorsements, Coverage types
Question 11: What is BOP Section 2?
Answer:
Liability
Question 12: Coverage D covers what?
Answer:
Loss of use: living expenses, fair rental value, civil authority loss of sue.
Question 13: What is BOP Section 3?
Answer:
Common policy conditions
Question 14: Coverage C exclusions?
Answer:
Pets, automobiles, aircraft, renter's property, credit card, heating/ac systems.
Question 15: PIP is usually primary or secondary coverage?
Answer:
PIP is usually primary coverage
Question 16: Bob owns a garage. Which coverage symbol in
his Garage-keepers policy pertains to the coverage that Bob is required to have to protect the vehicles left in his care?
Answer:
Symbol #30
Question 17: What is a Morale Hazard?
Answer:
Unconscious tendency of insured people to engage in riskier behavior.
Question 18: What is part A of a PAP?
Answer:
Liability
Question 19: Which coverages cover indirect (economic) losses?
Answer:
Coverage D and E
Question 20: Coverage F of an HO covers what?
Answer:
Medical payments: For medical expenses incurred by a third party due to an accident on the insured's premises. $1,000 minimum.
Question 21: What are Damages - special ?
Answer:
Tangible, financial losses that can be documented.
Question 22: What is DP-2?
Answer:
Broad form, same perils as Basic form+extended/broad form perils
Question 23: Describe HO-5
Answer:
provides the best coverage and is considered the high-end form. Covers all perils except those specifically excluded.Question 24: An insurance company may consider each of the following a risk, EXCEPT: a flood zone, a school bus, a Ruby necklace, or a race car?
Answer:
a flood zone
Question 25: What is a Reciprocal Insurer?
Answer:
A Reciprocal Insurer is an unincorporated organization of subscribers that operates through an attorney-in-fact to provide insurance benefits for its members
Question 26: What is part C of a PAP?
Answer:
Uninsured motorist Question 27: Teri's finished basement flooded during a recent storm, which caused quite a bit of damage to the contents. Which of Teri's items below would be covered under her Dwelling Form flood policy's Coverage B?
Answer:
Washer and dryer set
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