ARKANSAS ADJUSTER LATEST 2026 COMPREHENSIVE
EXAM QUESTIONS AND ANSWERS MARKED A+
✔✔E.g. Owner of a taxi who needs collision damage for his own taxi - ✔✔Business auto
e.g.
✔✔E.g. 3,000 gallons of milk in tanker truck - ✔✔Inland Marine (Bulk Milk) e.g.
✔✔E.g.Fire damage to small greeting card shop (3 possible policies) - ✔✔Texas
Standard Fire, Standard Fire, Business owner e.g.
✔✔Actual Cash Value (ACV) - ✔✔What is replacement cost less depreciation?
✔✔Garage Liability - ✔✔For valet parking service to have appropriate liability
coverage... Need what policy?
✔✔Types of claims I am unable to do without attaining other licenses? (Name at least
2) - ✔✔Flood
Workers comp
Crop
Coastal wind
Etc....
✔✔Ocean Marine Hull Coverage - ✔✔Cover potential collision damage to insured's ship
✔✔When is it safe to assume something is covered? - ✔✔When it is not excluded
✔✔Open peril, special, or all risk policies are... - ✔✔Policies that do not name/list
covered perils
✔✔ACV & broad named peril - ✔✔In TDP-3, dwelling is covered for all risk and
replacement cost, but PP is covered for...
✔✔Property and Liability - ✔✔What 2 default lines of insurance are included in
homeowner and business owner policy
✔✔Inland marine Cargo e.g. - ✔✔Someone who bought and is importing furniture from
Thailand would want what kind of policy to cover potential damage? E.g.
✔✔Dwelling Form 3 or equivalent e.g. - ✔✔Policy a landlord purchase would provide
best coverage on a rental property e.g.
✔✔Insured has no liability over that property e.g. - ✔✔Insured's care, custody & control
of other people's property is given unusual treatment in any liability policy e.g.
, ✔✔Any Homeowner policy e.g. - ✔✔If owner-occupant wants liability and property
coverage, they must purchase... E.g.
✔✔This license approves you to handle both property & liability claims, true or false? -
✔✔True
✔✔At least 80% of replacement e.g. - ✔✔In all risk TDP what % of actual replacement
cost must be insured to actually have replacement cost coverage? E.g.
✔✔Exclusions--clarify policy as well as... - ✔✔Insuring agreement--clarifies the policy as
well as...
✔✔Declarations Page e.g. - ✔✔Where will you find where the damaged property is
located? E.g.
✔✔Promptly or immediately e.g. - ✔✔When must first party loss be reported to insurer?
E.g.
✔✔Falling objects, Water loss (flood is not the answer) - ✔✔What would not be covered
as direct loss in any of the least expensive policy forms (limited, standard, basic)? E.g.
✔✔Firefighters during a fire e.g. - ✔✔Direct loss from water would be covered if caused
by...? E.g.
✔✔Texas Standard Fire Policy, Standard Fire Policy e.g. - ✔✔Small Texas retail store
would have to buy one of these 2 if they did not want liability policy...? e.g.
✔✔Aviation is another place you find this policy - ✔✔Where else other than ocean
marine policies will you find "hull coverage...?
✔✔Named insured, spouse if living in same household e.g. - ✔✔Most exclusions in
policy take away something then give it back by saying "does not apply to you or any
family member."..... Who is "you"?.... E.g.
✔✔surety bond is this type e.g. - ✔✔Name a type of bond that one party guarantees
with money the performance of another party to another 3rd party? E.g.
✔✔Personal Injury Protection would require this - ✔✔A written letter of rejection if
coverage in policy were rejected
✔✔Flood would result - ✔✔What would result from rising water which has touched eart?
EXAM QUESTIONS AND ANSWERS MARKED A+
✔✔E.g. Owner of a taxi who needs collision damage for his own taxi - ✔✔Business auto
e.g.
✔✔E.g. 3,000 gallons of milk in tanker truck - ✔✔Inland Marine (Bulk Milk) e.g.
✔✔E.g.Fire damage to small greeting card shop (3 possible policies) - ✔✔Texas
Standard Fire, Standard Fire, Business owner e.g.
✔✔Actual Cash Value (ACV) - ✔✔What is replacement cost less depreciation?
✔✔Garage Liability - ✔✔For valet parking service to have appropriate liability
coverage... Need what policy?
✔✔Types of claims I am unable to do without attaining other licenses? (Name at least
2) - ✔✔Flood
Workers comp
Crop
Coastal wind
Etc....
✔✔Ocean Marine Hull Coverage - ✔✔Cover potential collision damage to insured's ship
✔✔When is it safe to assume something is covered? - ✔✔When it is not excluded
✔✔Open peril, special, or all risk policies are... - ✔✔Policies that do not name/list
covered perils
✔✔ACV & broad named peril - ✔✔In TDP-3, dwelling is covered for all risk and
replacement cost, but PP is covered for...
✔✔Property and Liability - ✔✔What 2 default lines of insurance are included in
homeowner and business owner policy
✔✔Inland marine Cargo e.g. - ✔✔Someone who bought and is importing furniture from
Thailand would want what kind of policy to cover potential damage? E.g.
✔✔Dwelling Form 3 or equivalent e.g. - ✔✔Policy a landlord purchase would provide
best coverage on a rental property e.g.
✔✔Insured has no liability over that property e.g. - ✔✔Insured's care, custody & control
of other people's property is given unusual treatment in any liability policy e.g.
, ✔✔Any Homeowner policy e.g. - ✔✔If owner-occupant wants liability and property
coverage, they must purchase... E.g.
✔✔This license approves you to handle both property & liability claims, true or false? -
✔✔True
✔✔At least 80% of replacement e.g. - ✔✔In all risk TDP what % of actual replacement
cost must be insured to actually have replacement cost coverage? E.g.
✔✔Exclusions--clarify policy as well as... - ✔✔Insuring agreement--clarifies the policy as
well as...
✔✔Declarations Page e.g. - ✔✔Where will you find where the damaged property is
located? E.g.
✔✔Promptly or immediately e.g. - ✔✔When must first party loss be reported to insurer?
E.g.
✔✔Falling objects, Water loss (flood is not the answer) - ✔✔What would not be covered
as direct loss in any of the least expensive policy forms (limited, standard, basic)? E.g.
✔✔Firefighters during a fire e.g. - ✔✔Direct loss from water would be covered if caused
by...? E.g.
✔✔Texas Standard Fire Policy, Standard Fire Policy e.g. - ✔✔Small Texas retail store
would have to buy one of these 2 if they did not want liability policy...? e.g.
✔✔Aviation is another place you find this policy - ✔✔Where else other than ocean
marine policies will you find "hull coverage...?
✔✔Named insured, spouse if living in same household e.g. - ✔✔Most exclusions in
policy take away something then give it back by saying "does not apply to you or any
family member."..... Who is "you"?.... E.g.
✔✔surety bond is this type e.g. - ✔✔Name a type of bond that one party guarantees
with money the performance of another party to another 3rd party? E.g.
✔✔Personal Injury Protection would require this - ✔✔A written letter of rejection if
coverage in policy were rejected
✔✔Flood would result - ✔✔What would result from rising water which has touched eart?
