Texas State Claims Adjuster License
Exam-Graded A
If the insured purchases a new aircraft to replace a scheduled aircraft, there is
automatic coverage provided the insurance company is notified within ____ days of the
purchase and premium payment is made. - ANS-30
The standardized Building and Personal Property Coverage form requires the insured to
submit a signed, sworn proof of loss statement: - ANS-Within 60 days of the insurance
company's request.
A coverage extension included on the Building and Personal Property coverage form
provides coverage for business personal property temporarily stored in a detached
trailer within 100 feet of the insured building for: - ANS-A limit of $10,000 unless higher
limits are purchased.
An office building is limited in the number of stories it may contain and still be eligible for
coverage under a standard Businessowners Policy. This number is: - ANS-Six stories
The NAIC Model Unfair Claim Settlement Practices Act specifies that the insurance
company must provide the proper claim forms with a reasonable explanation of how to
use them to the claimant within: - ANS-15 calendar days of the request.
An insured's boat is struck by another boat. He and his family are injured. His boat sinks
because of the damage. An investigation determines that the party that caused the
accident is not insured. If the insured carries a watercraft policy, what coverages would
apply? - ANS-Uninsured boater's coverage and hull insurance
A Texas insurer is liable for a claim but is in violation of Texas regulations as to the
timely payment of the claim. Texas requires that the insurer must pay, in addition to the
settlement amount, interest on the amount of the claim at the rate of _____% per year. -
ANS-18
The "period of restoration" for the Extra Expense coverage included on the Business
Income form is - ANS-Immediately following the direct physical damage
The additional coverage of the Commercial Property cause of loss forms known as the
"Limited Coverage for Fungus, Wet Rot, Dry Rot, and Bacteria" provides (answer is an
amount per period): - ANS-$15,000 coverage for all occurrences within a 12-month
period.
, Sam's home is located in a rural area and is covered by a standardized DP-2 Dwelling
form with a $500 deductible form attached. He experiences a fire at his home and has
to call the local volunteer fire department to extinguish the fire. He receives a bill from
the fire department in the amount of $800. How much of the bill will Sam's DP-2 form
cover? - ANS-The policy will provide $500 to pay for fire department charges incurred
when the fire department is called to save or protect covered property from a peril
insured against. This coverage is additional insurance and no deductible applies.
An "other insurance" clause is included in insurance policies to deal with the problem of:
- ANS-Overinsurance
Roxanne has her home covered under a DP-2 policy. She regularly works on her laptop
computer at the bar in her kitchen. One day she decided to go out for lunch, leaving her
laptop plugged in and turned on. While she was out, the electrical cord attached to her
laptop began to short out and create sparks. One of the sparks fell on a dish towel
Roxanne had left on the bar and it caught fire. This led to a larger fire that caused
extensive damage to Roxanne's kitchen. The damage caused to the kitchen came to
$15,000. The laptop was destroyed and it's ACV was $1,800. The policy did not have a
deductible form attached. How much will be paid on this claim? - ANS-$15,000 it
excludes coverage for the laptop computer under the "Artificially Generated Electrical
Current" peril
The insured has a Homeowners policy with a $5,000 loss deductible. He has purchased
some expensive camera equipment, scuba gear, and clothing to take on a 2-week
cruise and is concerned about theft of his newly purchased property. What coverage
would be recommended? - ANS-The Personal Effects Floater. Due to the high
deductible under the Homeowner policy, the Personal Effect Floater would be the best
choice of those listed.
Under "pollution cleanup and removal" coverage under the standard ISO BOP form,
when must a loss be reported? - ANS-Within 180 days
A Texas insurer has notified a claimant that all or part of a claim will be paid. The claim
must be paid not later than the ____ business day after the date notice is made. - ANS-
5th
The NAIC Model Unfair Claim Settlement Practices Act specifies that when a violation
of the Act is suspected, a hearing must be held: - ANS-Not less than 30 days after
notice has been provided to those involved
Under a standardized DP-2 or DP-3 policy, what is the maximum that would be paid for
additional living expenses if Coverage A was $60,000? - ANS-$12,000 The form
provides 20% for additional living expenses and fair rental value.
Exam-Graded A
If the insured purchases a new aircraft to replace a scheduled aircraft, there is
automatic coverage provided the insurance company is notified within ____ days of the
purchase and premium payment is made. - ANS-30
The standardized Building and Personal Property Coverage form requires the insured to
submit a signed, sworn proof of loss statement: - ANS-Within 60 days of the insurance
company's request.
A coverage extension included on the Building and Personal Property coverage form
provides coverage for business personal property temporarily stored in a detached
trailer within 100 feet of the insured building for: - ANS-A limit of $10,000 unless higher
limits are purchased.
An office building is limited in the number of stories it may contain and still be eligible for
coverage under a standard Businessowners Policy. This number is: - ANS-Six stories
The NAIC Model Unfair Claim Settlement Practices Act specifies that the insurance
company must provide the proper claim forms with a reasonable explanation of how to
use them to the claimant within: - ANS-15 calendar days of the request.
An insured's boat is struck by another boat. He and his family are injured. His boat sinks
because of the damage. An investigation determines that the party that caused the
accident is not insured. If the insured carries a watercraft policy, what coverages would
apply? - ANS-Uninsured boater's coverage and hull insurance
A Texas insurer is liable for a claim but is in violation of Texas regulations as to the
timely payment of the claim. Texas requires that the insurer must pay, in addition to the
settlement amount, interest on the amount of the claim at the rate of _____% per year. -
ANS-18
The "period of restoration" for the Extra Expense coverage included on the Business
Income form is - ANS-Immediately following the direct physical damage
The additional coverage of the Commercial Property cause of loss forms known as the
"Limited Coverage for Fungus, Wet Rot, Dry Rot, and Bacteria" provides (answer is an
amount per period): - ANS-$15,000 coverage for all occurrences within a 12-month
period.
, Sam's home is located in a rural area and is covered by a standardized DP-2 Dwelling
form with a $500 deductible form attached. He experiences a fire at his home and has
to call the local volunteer fire department to extinguish the fire. He receives a bill from
the fire department in the amount of $800. How much of the bill will Sam's DP-2 form
cover? - ANS-The policy will provide $500 to pay for fire department charges incurred
when the fire department is called to save or protect covered property from a peril
insured against. This coverage is additional insurance and no deductible applies.
An "other insurance" clause is included in insurance policies to deal with the problem of:
- ANS-Overinsurance
Roxanne has her home covered under a DP-2 policy. She regularly works on her laptop
computer at the bar in her kitchen. One day she decided to go out for lunch, leaving her
laptop plugged in and turned on. While she was out, the electrical cord attached to her
laptop began to short out and create sparks. One of the sparks fell on a dish towel
Roxanne had left on the bar and it caught fire. This led to a larger fire that caused
extensive damage to Roxanne's kitchen. The damage caused to the kitchen came to
$15,000. The laptop was destroyed and it's ACV was $1,800. The policy did not have a
deductible form attached. How much will be paid on this claim? - ANS-$15,000 it
excludes coverage for the laptop computer under the "Artificially Generated Electrical
Current" peril
The insured has a Homeowners policy with a $5,000 loss deductible. He has purchased
some expensive camera equipment, scuba gear, and clothing to take on a 2-week
cruise and is concerned about theft of his newly purchased property. What coverage
would be recommended? - ANS-The Personal Effects Floater. Due to the high
deductible under the Homeowner policy, the Personal Effect Floater would be the best
choice of those listed.
Under "pollution cleanup and removal" coverage under the standard ISO BOP form,
when must a loss be reported? - ANS-Within 180 days
A Texas insurer has notified a claimant that all or part of a claim will be paid. The claim
must be paid not later than the ____ business day after the date notice is made. - ANS-
5th
The NAIC Model Unfair Claim Settlement Practices Act specifies that when a violation
of the Act is suspected, a hearing must be held: - ANS-Not less than 30 days after
notice has been provided to those involved
Under a standardized DP-2 or DP-3 policy, what is the maximum that would be paid for
additional living expenses if Coverage A was $60,000? - ANS-$12,000 The form
provides 20% for additional living expenses and fair rental value.
