NM ADJUSTER EXAM 2024 QUESTIONS AND VERIFIED
ANSWERS GRADED A++
an insurance contract, the policyholder gives the insurer ___ and the insurer
gives the policyholder ___.
premium payments; peace of mind
Which of the following people does NOT have an insurable interest in an insured
property?
A homeowner's interest in the local town water pipes that deliver water to his home.
In the event of a catastrophe, emergency adjuster licenses in New Mexico are
valid for:
90 days.
Cindy falls down the stairs at Jane's house and breaks her arm, resulting in
$2,500 in medical expenses. Jane's homeowner's insurance will cover the liability,
but Cindy is particularly mad at Jane for not keeping her house in order and is
seeking punitive damages. Jane's insurance adjuster informs the two of them that
they will likely have to go to court to settle the dispute because:
punitive damages can only be determined by a court of law.
Under Jacqueline's Personal Injury Protection, all of the following would be
covered for bodily injuries except:
, Jacqueline's sister who also has PIP
Jason has had mild asthma since childhood. He now works in a chemical
processing plant, and his asthma has gotten much worse ever since he
contracted pneumonia because of the fumes at the plant. For workers'
compensation insurance, this is usually known as:
aggravation.
Jane's shed burns to the ground during a tornado, when a tree falls on the roof
and snaps a power line, which then ignites the structure. What is the proximate
cause of the loss?
Wind
Inland marine insurance protects:
property related to transportation and property being transported
Under the New Mexico Commercial Auto Insurance Plan, a policyholder can
purchase additional coverage up to limits required by any other state:
but only for as long as the insured vehicles are being driven in that state.
What are the four requirements of a legally binding contract?
Agreement, consideration, competent parties, legal purpose
Which statement about the Jones Act is TRUE?
It protects injured seamen by allowing them to sue for damages and to choose a jury
trial.
All of the following lines of coverage may be offered in Commercial Package
Policy, except:
Workers' Compensation.
ANSWERS GRADED A++
an insurance contract, the policyholder gives the insurer ___ and the insurer
gives the policyholder ___.
premium payments; peace of mind
Which of the following people does NOT have an insurable interest in an insured
property?
A homeowner's interest in the local town water pipes that deliver water to his home.
In the event of a catastrophe, emergency adjuster licenses in New Mexico are
valid for:
90 days.
Cindy falls down the stairs at Jane's house and breaks her arm, resulting in
$2,500 in medical expenses. Jane's homeowner's insurance will cover the liability,
but Cindy is particularly mad at Jane for not keeping her house in order and is
seeking punitive damages. Jane's insurance adjuster informs the two of them that
they will likely have to go to court to settle the dispute because:
punitive damages can only be determined by a court of law.
Under Jacqueline's Personal Injury Protection, all of the following would be
covered for bodily injuries except:
, Jacqueline's sister who also has PIP
Jason has had mild asthma since childhood. He now works in a chemical
processing plant, and his asthma has gotten much worse ever since he
contracted pneumonia because of the fumes at the plant. For workers'
compensation insurance, this is usually known as:
aggravation.
Jane's shed burns to the ground during a tornado, when a tree falls on the roof
and snaps a power line, which then ignites the structure. What is the proximate
cause of the loss?
Wind
Inland marine insurance protects:
property related to transportation and property being transported
Under the New Mexico Commercial Auto Insurance Plan, a policyholder can
purchase additional coverage up to limits required by any other state:
but only for as long as the insured vehicles are being driven in that state.
What are the four requirements of a legally binding contract?
Agreement, consideration, competent parties, legal purpose
Which statement about the Jones Act is TRUE?
It protects injured seamen by allowing them to sue for damages and to choose a jury
trial.
All of the following lines of coverage may be offered in Commercial Package
Policy, except:
Workers' Compensation.
