ILLINIOS PUBLIC ADJUSTER EXAM EXAM QUESTIONS

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ILLINIOS PUBLIC ADJUSTER EXAM EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -100 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: An insured may not

Answer:

Abandon property to the insurance company Question 2: A gable roof 32' long is to have rafters installed 16 inches on center. How many rafters or needed?

Answer:

24

Question 3: Which form offers the broadest coverage for homeowners?

Answer:

HO-5

Question 4: When may a public adjuster attempt to sign a new client

Answer:

Between the hours of 8 AM and 7 PM

Question 5: Which of the following actions by a public adjuster would be a violation of law

Answer:

Advancing funds to insureds.. in anticipation of claim proceeds Question 6: Commercial property policy with basic causes of laws which exclude which of the following acts of vandalism?

• An antenna on top of the building
• chemicals through onto a buildings roof
• Spray painting on a building walls
• All of Above

Answer:

• All of above

Question 7: Who are the following does NOT have an insurable interest?

Answer:

An occupant of someone else's building Question 8: Building obsolescence maybe brought about by a change in all of the following except which of the following?

Answer:

Wear and Tear

Question 9: What is a mullion

Answer:

A vertical member between the panels of a window, door or other opening Question 10: What section of a policy contains the insurance applications to cover certain losses?

Answer:

The insuring agreement

Question 11: which of the following is the principal in a bond?

Answer:

A Contractor doing the work Question 12: Which of the following is not a duty of the insured in the event of loss in a commercial property policy

Answer:

File a lawsuit against any person suspected of arson or intentional loss Question 13: A two year old commercial building Insured on an all Risk form, suffers a roof caved in. It is determined that the roof trusses had a (latent) defect. How is the insured covered?

Answer:

There is no coverage Question 14: If an insurer decides to cancel a standard fire policy it must do what?

Answer:

Notify the insured in writing with proof of Mailing Question 15: The Illinois Guaranty fund provides a mechanism for the payment of claims of insolvent carriers EXCEPT for...

Answer:

A surplus lines company Question 16: If a public adjuster contracts with an insured within 5 days of a filed lost, how long does the insured have to void their contract

Answer:

• days

Question 17: A hip roof is 42' long and 24'cfeet wide. How long is the Ridge?

Answer:

42' Question 18: A homeowner must replace or repair property in order to receive replacement cost settlement. However, the Insurer will pay replacement cost in a covered loss to buildings or other structures prior to repair or replacement if the loss is less than $2500 and..

Answer:

The loss is also less than 5% of the limit on the building

Question 19: Which of the following involves felonious abstraction after for a forcible entry?

Answer:

Burglary Question 20: To calculate a business income limit for "coinsurance" purposes, (gross earnings) should be considered for what time period?

Answer:

The expected gross earnings for 12 months following the inception date or most recent renewal date Question 21: Which of the following is not a reason, for the Director to revoke or refuse to renew a public adjusters license?

Answer:

Having is business owner's insurance policy canceled

Question 22: What kind of losses can a commercial property insurance cover?

Answer:

Direct and indirect losses Question 23: A three year old commercial building insured on in all risk form suffers a roof, to Cave in. It is determined that the roof trusses had a latent defect. How is the insured covered?

Answer:

There is coverage up to $10,000

Question 24: Why is there a 30 day waiting period for flood insurance?

Answer:

To allow the insurer time to inspect the building Question 25: HO-3 policy provides replacement cost protection for which property below?

• Personal property
• Animals and birds
• Dwellings and other structures
• All of Above

Answer:

All of the above