NC Adjuster License Practice Exam
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‣ Inception/Expiration Date . Answer: The date on which coverage
became effective or expired. Policies in North Carolina become effective
and expire at 12:01am
‣ Occurrence Date . Answer: The date on which the loss occurred
‣ Identification of Parties involve . Answer: The loss report should
include the names and addresses of the parties involved in the loss, the
names and addresses of any injured person(s) and the names and
addresses of any witness(s)
‣ Policy form /Number . Answer: Identifies the type of coverage
purchased (policy form) and the policy number for the particular policy
purchased by the insured
‣ Description of the Loss . Answer: Information concerning how, when
and where the accident or loss happened is an essential element in any
loss report
‣ Coverage . Answer: Shows the type of coverage purchased as well as
the limits of coverage purchased.
,‣ Deductible (retention) . Answer: That portion of any covered property
claim that must be paid by the insured.
‣ Tort/Tort Feasor . Answer: A tort is a legal injury or a civil wrong to
another that arises out of actions other than a breach of contract which a
court will provide a remedy through allowing the injured party a
monetary recover for damages.
‣ Elements of an Investigation . Answer: The insured and the claims
team need to work together to ensure they have secured all of the
available evidence (surveillance videos, witnesses and their statements)
as well as continue the ongoing investigation
Adjusters, investigators index reports and witnesses can all be key pieces
of the puzzle that may not be available, or there may not have been
enough information to involve at the onset
‣ Statute of Limitations . Answer: Each state has its own statute of
limitations laws. NC is three years
‣ Types of liability . Answer: Contributory, Vicarious, and Strict
‣ Contributory Liability . Answer: If a person was injured due to their
own negligence (contributed to the accident), the injured party would not
be entitled to collect any damages (money) from another party who
supposedly caused the accident. (ex. person runs a red light and car hits
them)
, ‣ Vicarious Liability . Answer: Someone is held responsible for the
actions or omissions of another person while performing their
employment duties (ex. employee fails to mop up a spill and a customer
falls)
‣ Strict Liability . Answer: Liability incurred for causing damage to life,
limb, or property by a hazardous activity or a defective product. ( toy
company sells doll that injured a child are responsible even though they
did not manufacture the doll)
‣ Damages . Answer: Special, General, and Punitive
‣ Special (compensatory) . Answer: Damages are amounts paid to
compensate the plaintiff for direct expenses such as: medical treatment,
loss wages, and funeral expenses (Can be measured)
‣ General (compensatory) . Answer: Damages are paid for losses that
CANNOT be specifically measured and itemized in order to compensate
the plaintiff such as: pain and suffering, loss of arm or leg, vision, and
physical disfigurement.
‣ Punitive (punish) damages . Answer: are awarded to the plaintiff in
addition to compensatory damages when the defendant's conduct has
been malicious. They are awarded to punish the defendant and to deter
others from committing similar actions
2026 Comprehensive Review Pack
and Accurate Solutions Guaranteed
‣ Inception/Expiration Date . Answer: The date on which coverage
became effective or expired. Policies in North Carolina become effective
and expire at 12:01am
‣ Occurrence Date . Answer: The date on which the loss occurred
‣ Identification of Parties involve . Answer: The loss report should
include the names and addresses of the parties involved in the loss, the
names and addresses of any injured person(s) and the names and
addresses of any witness(s)
‣ Policy form /Number . Answer: Identifies the type of coverage
purchased (policy form) and the policy number for the particular policy
purchased by the insured
‣ Description of the Loss . Answer: Information concerning how, when
and where the accident or loss happened is an essential element in any
loss report
‣ Coverage . Answer: Shows the type of coverage purchased as well as
the limits of coverage purchased.
,‣ Deductible (retention) . Answer: That portion of any covered property
claim that must be paid by the insured.
‣ Tort/Tort Feasor . Answer: A tort is a legal injury or a civil wrong to
another that arises out of actions other than a breach of contract which a
court will provide a remedy through allowing the injured party a
monetary recover for damages.
‣ Elements of an Investigation . Answer: The insured and the claims
team need to work together to ensure they have secured all of the
available evidence (surveillance videos, witnesses and their statements)
as well as continue the ongoing investigation
Adjusters, investigators index reports and witnesses can all be key pieces
of the puzzle that may not be available, or there may not have been
enough information to involve at the onset
‣ Statute of Limitations . Answer: Each state has its own statute of
limitations laws. NC is three years
‣ Types of liability . Answer: Contributory, Vicarious, and Strict
‣ Contributory Liability . Answer: If a person was injured due to their
own negligence (contributed to the accident), the injured party would not
be entitled to collect any damages (money) from another party who
supposedly caused the accident. (ex. person runs a red light and car hits
them)
, ‣ Vicarious Liability . Answer: Someone is held responsible for the
actions or omissions of another person while performing their
employment duties (ex. employee fails to mop up a spill and a customer
falls)
‣ Strict Liability . Answer: Liability incurred for causing damage to life,
limb, or property by a hazardous activity or a defective product. ( toy
company sells doll that injured a child are responsible even though they
did not manufacture the doll)
‣ Damages . Answer: Special, General, and Punitive
‣ Special (compensatory) . Answer: Damages are amounts paid to
compensate the plaintiff for direct expenses such as: medical treatment,
loss wages, and funeral expenses (Can be measured)
‣ General (compensatory) . Answer: Damages are paid for losses that
CANNOT be specifically measured and itemized in order to compensate
the plaintiff such as: pain and suffering, loss of arm or leg, vision, and
physical disfigurement.
‣ Punitive (punish) damages . Answer: are awarded to the plaintiff in
addition to compensatory damages when the defendant's conduct has
been malicious. They are awarded to punish the defendant and to deter
others from committing similar actions
