GA Claims Adjuster Licensing Exam
Latest 2023 Already Passed
What coverage does Community Eligibility apply to? ✔✔Flood insurance through FEMA
What's the difference between Emergency Program and Regular Program in the National Flood
Insurance Program? ✔✔Emergency applies to homes in communities that are a normally not a
flood hazard. Regular programs are awarded to an entire community that is eligible due to flood
hazard.
What is the flood coverage on a regular program in a 1-4 Family Dwelling? ✔✔$250,000
On what policy can you add the Flood Program endorsement? ✔✔None! It has its own policy
through the Federal Government.
Difference in Conditions (DIC) Insurance ✔✔A separate insurance policy that provides open-
perils coverage to fill in the gaps left by flood coverage if a home is worth over $250K.
Coverage is produced through Excess/Surplus Lines.
What is the waiting period on NFIP coverage? ✔✔30 days after policy purchase
,What is the coverage change waiting period for the NFIP? ✔✔5 days
Give examples of the flood peril ✔✔- an overflow of inland or tidal waters
- unusual or rapid accumulation or runoff of surface waters
-Mudflow or Mudslide
- Collapse of land along the shore of a lake as a result of erosion
What kinds of things does flood insurance cover? ✔✔Your house and your things (dwelling and
personal property). No indirect charges.
Dwelling coverage extension for flood insurance covers what? How much is it? ✔✔Structures
not attached to dwelling (O.S. or Appurtenant structures). 10% of Dwelling limit. ***It is an
extension of coverage, NOT the $250K limit so any coverage needed here will reduce the
amount able to go to the dwelling.
Contents coverage of flood insurance is limited to what? ✔✔Personal property damaged or
destroyed by the flood itself and belongs to insured and resident spouse/relatives. The insured is
liable for content of others.
,What are the coverages of flood insurance? ✔✔Dwelling, Contents, Debris Removal
How are damaged items valued in flood coverage? ✔✔Dwelling - replacement cost
Contents - Actual Cash Value
What kind of property is not covered by flood insurance? ✔✔Basements and underground
structure (ex. septic tanks), animals, money/accounts/bills, land, anything else covered by other
policies (motor vehicles, aircraft, watercraft)
Loss Valuation on flood insurance ✔✔(amount of insurance purchased/80% Dwellings Total
replacement cost) x Loss Amount
Standard deductible on flood insurance ✔✔$1K for Dwelling and $1K for Content
Personal Inland Marine Insurance ✔✔Floaters or policies for world-wide coverage of personal
property on an open-peril basis.
, Is flood excluded from Personal Inland Marine Insurance? ✔✔NOPE. It's covered!
What are the floaters available on Personal Inland Marine Insurance? ✔✔Personal Articles
Floaters, Personal Property Floaters, and Personal Effects Floaters
What perils are covered under Personal Inland Marine Insurance floaters? ✔✔all; open-peril
Which PIMI floater would be appropriate for a diamond ring? Why? ✔✔Personal Articles
Floater - itemizes valuables such as jewelry and furs
What is a Personal Effects Floater good for? What deductible does it have? ✔✔world-wide open
peril coverage of personal property for people who are traveling - luggage, sports equipment,
clothes, and camera. NO DEDUCTIBLE.
What is a Personal Property Floater good for? What kind of limit do they have? ✔✔World-wide
open peril coverage of personal property - usually for special occasions like weddings or
exhibitions. There is a blanket limit!
Does personal inland marine insurance cover flood? ✔✔Yes. Somehow.
Latest 2023 Already Passed
What coverage does Community Eligibility apply to? ✔✔Flood insurance through FEMA
What's the difference between Emergency Program and Regular Program in the National Flood
Insurance Program? ✔✔Emergency applies to homes in communities that are a normally not a
flood hazard. Regular programs are awarded to an entire community that is eligible due to flood
hazard.
What is the flood coverage on a regular program in a 1-4 Family Dwelling? ✔✔$250,000
On what policy can you add the Flood Program endorsement? ✔✔None! It has its own policy
through the Federal Government.
Difference in Conditions (DIC) Insurance ✔✔A separate insurance policy that provides open-
perils coverage to fill in the gaps left by flood coverage if a home is worth over $250K.
Coverage is produced through Excess/Surplus Lines.
What is the waiting period on NFIP coverage? ✔✔30 days after policy purchase
,What is the coverage change waiting period for the NFIP? ✔✔5 days
Give examples of the flood peril ✔✔- an overflow of inland or tidal waters
- unusual or rapid accumulation or runoff of surface waters
-Mudflow or Mudslide
- Collapse of land along the shore of a lake as a result of erosion
What kinds of things does flood insurance cover? ✔✔Your house and your things (dwelling and
personal property). No indirect charges.
Dwelling coverage extension for flood insurance covers what? How much is it? ✔✔Structures
not attached to dwelling (O.S. or Appurtenant structures). 10% of Dwelling limit. ***It is an
extension of coverage, NOT the $250K limit so any coverage needed here will reduce the
amount able to go to the dwelling.
Contents coverage of flood insurance is limited to what? ✔✔Personal property damaged or
destroyed by the flood itself and belongs to insured and resident spouse/relatives. The insured is
liable for content of others.
,What are the coverages of flood insurance? ✔✔Dwelling, Contents, Debris Removal
How are damaged items valued in flood coverage? ✔✔Dwelling - replacement cost
Contents - Actual Cash Value
What kind of property is not covered by flood insurance? ✔✔Basements and underground
structure (ex. septic tanks), animals, money/accounts/bills, land, anything else covered by other
policies (motor vehicles, aircraft, watercraft)
Loss Valuation on flood insurance ✔✔(amount of insurance purchased/80% Dwellings Total
replacement cost) x Loss Amount
Standard deductible on flood insurance ✔✔$1K for Dwelling and $1K for Content
Personal Inland Marine Insurance ✔✔Floaters or policies for world-wide coverage of personal
property on an open-peril basis.
, Is flood excluded from Personal Inland Marine Insurance? ✔✔NOPE. It's covered!
What are the floaters available on Personal Inland Marine Insurance? ✔✔Personal Articles
Floaters, Personal Property Floaters, and Personal Effects Floaters
What perils are covered under Personal Inland Marine Insurance floaters? ✔✔all; open-peril
Which PIMI floater would be appropriate for a diamond ring? Why? ✔✔Personal Articles
Floater - itemizes valuables such as jewelry and furs
What is a Personal Effects Floater good for? What deductible does it have? ✔✔world-wide open
peril coverage of personal property for people who are traveling - luggage, sports equipment,
clothes, and camera. NO DEDUCTIBLE.
What is a Personal Property Floater good for? What kind of limit do they have? ✔✔World-wide
open peril coverage of personal property - usually for special occasions like weddings or
exhibitions. There is a blanket limit!
Does personal inland marine insurance cover flood? ✔✔Yes. Somehow.
