CT All Lines Adjuster Exam Questions with Answers

Trespasser Enters owners property without consent Licensee has owners implicit permission to be on property Invitee Has owners explicit permission to be on property. Permitted Incidental Occupancies Endorsement HO 04 42 Covers incidental types of business conducted on residence premises Punitive Damages Amount required to pay as punishment for committing a civil wrong in a deliberate manner. Breach of Duty of Care If duty of care established must figure out if it's been breached. Open Perils Policy that lists perils not covered. Burden of proof is on insurer to prove peril is excluded. Burglary Theft of property within a premises by a person who unlawfully entered. Law of Large Numbers Allows insurers to determine the probability that actual losses will equal expected losses. Physical Hazard Physical conditions that increase the chance of loss Risk Prevention Reduces likelihood that loss will occur. License Maintenance (Renewal, Changes, Reporting) Renews every odd numbered year on June 30th and is valid for 2 years. Changes must be made in writing within 30 days of change and reporting must also be within 30 days after final disposition. Joint Ownership Coverage Added to PAP if co-owners of insured vehicle are residents of same household but not related or are relatives who don't live together. Assignment Provision States any assignment of policy is invalid unless insurer provides its written consent. BAP limit of insurance Max insurer will pay regardless of number of covered autos, insureds, claims, or vehicles involved in the accident.