NC CLAIMS ADJUSTER EXAM STUDY

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NC CLAIMS ADJUSTER EXAM STUDY

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: Accident

Answer:

A sudden unforseen and unintended one time event

Question 2: What is a waiver?

Answer:

voluntary abandonment of a right or advantage Question 3: What is the 2nd felony that can result in criminal prosecution in NC?

Answer:

Willfully submitting false statement.Question 4: The community becomes eligible for a regular plan:

Answer:

When a community complied with flood control requirements and the extent of the flood plan has been mapped.

Question 5: what is misrepresentation

Answer:

A lie regarding material information.

Question 6: What is the insuring agreement?

Answer:

That perils that are insured (covered)

Question 7: What is the 3rd definition included in a flood?

Answer:

Mud flows or mudslides in normally dry land areas

Question 8: What is a warranty?

Answer:

Statements guaranteed as accuracy for both past and future events.

Question 9: What are endorsement?

Answer:

The modifications (adding or taking away) from the policy.Question 10: It is unlawful to discriminate in the rates charged for automobile coverage based

on:

Answer:

age or sex

Question 11: Named insured

Answer:

Listed on the declarations page. Included a spouse wether they are named in the policy or not, provided they live in the same home.Question 12: Flood insurance policies become effective after:

Answer:

30 days after receipt of the coverage application and the premium payment.

Question 13: Assumption of risk

Answer:

An individual who is aware of the potential risk involved and chose to expose themselves to it.

Question 14: What is a representation?

Answer:

Statements that are made with the utmost faith but are not guaranteed to be accurate. (a substantial truth).

Question 15: Law of Large Numbers

Answer:

As a larger number of events are included, the difference between actual and expected results become smaller.Question 16: 1st Coverage for watercraft or yacht are:

Answer:

Hull insurance for damage to the insured boat itself

Question 17: What is an example of an Non Owned Automobile?

Answer:

An insured borrows a neighbors car.

Question 18: What are conditions?

Answer:

The provisions and stipulations of the policy. The rules of conduct between the insurer and the insured.Question 19: The general property form on flood insurance is used to:

Answer:

Insure larger residential structures and non residential buildings.

Question 20: Insured

Answer:

Any blood relative by marriage, adoption, wards, foster children, living in the same home, including children away at college. Also, any person using someones car with their permission.

Question 21: What is the characteristics of insurable risk?

Answer:

A low probability of a loss occurring Less than catastrophic results Lost must be measurable The loss must be significant The loss must be accidental and unintended

Question 22: Coverage Part A through F of a PAP

Answer:

• Liability

• Medical Payments

C. UM/UIM

• Physical Damage

• Insured Duties
• General Provisions

Question 23: What are pretext interviews?

Answer:

When an individual does not reveal their identity or pose as someone else.Question 24: What is the 1st felony that can result in criminal prosecution in NC?

Answer:

Agent/Broker who converts to their own use of any money or property.

Question 25: What are the definitions?

Answer:

The named insured, who is an insured and what constitutes a premises.

Question 26: Negligence

Answer:

Failure to do (or not do) what a reasonable prudent person would or would not have done in a similar instance.