Oklahoma Adjuster Exam #2 – 161 Most Tested
Questions & Answers | Latest Update 2026 | 100% Pass
Guarantee | Exam Prep
1. What is the term for an agent who represents a single insurance company?
Underwriter
Captive agent
Independent agent
Broker
2. If a property insured under the Basic Form (DP1) has a Coverage A limit of
$200,000, how much would the policyholder receive for rental value in the
event of a covered loss?
$20,000
$80,000
$60,000
$40,000
3. What categories are subject to special theft limits under a special HO policy?
Furniture and fixtures
Electronics and appliances
Jewelry, watches, and furs
Art and collectibles
4. A LEGAL THRORY THAT IMPOSES LIABILITY ON THOSE WHO ARE
ENGAGED IN ULTRA HAZARDOUS ACTIVITY IS KNOWN AS ____.
GROSS NEGLIGENCE
, INTENTIONAL TORT
STRICT LIABILITY
CONTRACTURAL LIABILITY
5. Who is typically excluded from coverage under liability policies?
The insured party
Property damage
Third parties
Employees
6. Are flooding and overflow from a sump pump included in Basic and Broad
Homeowners (HO) policies?
Only under certain conditions
Only in Broad policies
No
Yes
7. What term is used to describe payments made in addition to the regular limit
of liability in an insurance policy?
Co-payments
Exclusions
Supplemental payments
Deductibles
,8. If a homeowner experiences water damage due to a burst pipe, which type
of insurance coverage would likely apply under the basic HO form?
Accidental discharge of water
Intentional damage
Sewer backup
Flood damage
9. In general, liability polices do NOT cover damage caused to
the third party
property
the insured
the injured party
10. If a homeowner experiences damage to a detached garage due to a storm,
which part of their dwelling policy would likely cover the repair costs?
Liability coverage
Personal property coverage
Coverage A
Coverage B
11. Which would NOT typically be covered in a dwelling policy?
Wind
Fire
Hail
Liability
, 12. All of the following are additional HO coverages EXCEPT
debris removal.
flood.
collapse.
credit card forgery.
13. Describe the significance of Coverage B in a dwelling policy and what it
protects.
Coverage B provides liability protection for injuries occurring on the
property.
Coverage B is designed to cover the costs of temporary housing
during repairs.
Coverage B covers personal belongings within the main dwelling.
Coverage B protects other structures on the property, such as
garages or sheds, from covered perils.
14. An insurance company's license to do business in a particular state is called
a registration certificate
a surplus line
a certificate of authority
a permission document
15. Which federal agency is responsible for managing the National Flood
Insurance Program?
HUD
USDA
Questions & Answers | Latest Update 2026 | 100% Pass
Guarantee | Exam Prep
1. What is the term for an agent who represents a single insurance company?
Underwriter
Captive agent
Independent agent
Broker
2. If a property insured under the Basic Form (DP1) has a Coverage A limit of
$200,000, how much would the policyholder receive for rental value in the
event of a covered loss?
$20,000
$80,000
$60,000
$40,000
3. What categories are subject to special theft limits under a special HO policy?
Furniture and fixtures
Electronics and appliances
Jewelry, watches, and furs
Art and collectibles
4. A LEGAL THRORY THAT IMPOSES LIABILITY ON THOSE WHO ARE
ENGAGED IN ULTRA HAZARDOUS ACTIVITY IS KNOWN AS ____.
GROSS NEGLIGENCE
, INTENTIONAL TORT
STRICT LIABILITY
CONTRACTURAL LIABILITY
5. Who is typically excluded from coverage under liability policies?
The insured party
Property damage
Third parties
Employees
6. Are flooding and overflow from a sump pump included in Basic and Broad
Homeowners (HO) policies?
Only under certain conditions
Only in Broad policies
No
Yes
7. What term is used to describe payments made in addition to the regular limit
of liability in an insurance policy?
Co-payments
Exclusions
Supplemental payments
Deductibles
,8. If a homeowner experiences water damage due to a burst pipe, which type
of insurance coverage would likely apply under the basic HO form?
Accidental discharge of water
Intentional damage
Sewer backup
Flood damage
9. In general, liability polices do NOT cover damage caused to
the third party
property
the insured
the injured party
10. If a homeowner experiences damage to a detached garage due to a storm,
which part of their dwelling policy would likely cover the repair costs?
Liability coverage
Personal property coverage
Coverage A
Coverage B
11. Which would NOT typically be covered in a dwelling policy?
Wind
Fire
Hail
Liability
, 12. All of the following are additional HO coverages EXCEPT
debris removal.
flood.
collapse.
credit card forgery.
13. Describe the significance of Coverage B in a dwelling policy and what it
protects.
Coverage B provides liability protection for injuries occurring on the
property.
Coverage B is designed to cover the costs of temporary housing
during repairs.
Coverage B covers personal belongings within the main dwelling.
Coverage B protects other structures on the property, such as
garages or sheds, from covered perils.
14. An insurance company's license to do business in a particular state is called
a registration certificate
a surplus line
a certificate of authority
a permission document
15. Which federal agency is responsible for managing the National Flood
Insurance Program?
HUD
USDA
