NC ADJUSTER LICENSING EXAM 2024 NEWEST EXAM 2
VERSIONS (VERSION A AND B) COMPLETE 400 QUESTIONS
WITH DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS ) / ALREADY GRADED A+ // BRAND NEW!!
Manny is purchasing a Commercial Property policy with a Business Income form
included. Manny can select from any of the following as a method to provide
coverage, while avoiding the coinsurance requirement, EXCEPT: - ANSWER: The
maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is: - ANSWER: Replacement cost
minus depreciation
Sam and Dan are working to clean out the gutters around the roof on Sam's house.
Sam and Dan are standing at the top of separate ladders that are propped against
the side of Sam's house, when Dan's ladder begins to wobble and ultimately falls into
Sam's ladder. Both men and their ladders crash to the ground. Whose injuries will be
covered by Sam's Homeowners policy under Coverage E - Personal Liability? -
ANSWER: Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following, EXCEPT: -
ANSWER: Intentional torts purposely committed to cause harm to another.
The insured has a $1,000,000 personal umbrella policy with a $5,000 retention limit.
For a $7,000 liability loss not covered under the insured's personal auto policy, but
covered under the umbrella policy, the insurance company would pay: - ANSWER:
$2,000
All of the following is considered an "insured" under a CGL policy, EXCEPT: -
ANSWER: Lawyers of the named insured
What specific type of liability policy gives an owner protection against liability claims
arising out of the acts of its independent contractors? - ANSWER: Owners and
Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a Businessowners
policy? - ANSWER: A small retail store
Which of the following is NOT a correct statement in determining the cost of a
"comparable automobile" when a physical damage loss has a occurred? - ANSWER:
The cost of a comparable automobile as determined by a computerized automobile
valuation service that produces statistically valid fair market values within the United
States market
, All of the following statements are TRUE of North Carolina automobile liability
policies, EXCEPT - ANSWER: If the insured carries limits greater than the minimum
financial responsibility limits required by state law, they are not required to carry
Uninsured/Underinsured Motorists coverage.
The basic limit for Coverage F -- Medical Payments of the standard Homeowners
forms is: - ANSWER: $1,000 per person
Oliver Dogwood was in an auto accident which destroyed his car. While investigating
the accident, Adjuster Doright found that Mr. Dogwood paid $1,000 for the vehicle.
After checking with others he found the same vehicle with an asking price of $1,700,
a retail price of $2,150 and a dealer price of $1,750. What amount will Mr. Dogwood
receive? - ANSWER: $2,150
When a claims representative is collecting information from a third-party claimant,
which of the following is the information that should be obtained first? - ANSWER:
The nature and extent of the injuries or property damage claimed.
The Business Auto uses Symbol 7 to cover "specifically described autos" identified in
the declarations. An auto acquired during the policy period will only be covered: -
ANSWER: If the insured insures all of their vehicles with the company or it replaces a
covered auto..
What coverage under the BOP automatically applies if a customer slips and falls on
the named insured's premises, regardless of legal liability? - ANSWER: Medical
expense coverage
When an insurer is called upon to defend a suit under a CGL policy, the amount that
can be paid for the defense costs is: - ANSWER: Not limited
Any North Carolina lender in making or servicing real estate mortgage or deed of
trust loans on one to four family residences must accept a binder as proof of
insurance. The binder presented to the lender must include all of the following,
EXCEPT - ANSWER: A sworn statement that the insurance will be kept in force.
Which of the following statements is TRUE concerning Part A - Liability coverage on a
standard Personal Automobile policy? - ANSWER: The coverage is provided only for
accidents caused by those who are "insureds" under the policy..
Which of the following is NOT a reason to purchase a Dwelling policy instead of a
Homeowners policy? - ANSWER: The Dwelling policy provides higher limits of liability
than the Homeowners policy..
Which of the following is NOT excluded by Section II - Liability of the Business
Automobile policy? - ANSWER: Cost to defend the insured
VERSIONS (VERSION A AND B) COMPLETE 400 QUESTIONS
WITH DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS ) / ALREADY GRADED A+ // BRAND NEW!!
Manny is purchasing a Commercial Property policy with a Business Income form
included. Manny can select from any of the following as a method to provide
coverage, while avoiding the coinsurance requirement, EXCEPT: - ANSWER: The
maximum monthly limit of indemnity optional coverage
The traditional definition of actual cash value (ACV) is: - ANSWER: Replacement cost
minus depreciation
Sam and Dan are working to clean out the gutters around the roof on Sam's house.
Sam and Dan are standing at the top of separate ladders that are propped against
the side of Sam's house, when Dan's ladder begins to wobble and ultimately falls into
Sam's ladder. Both men and their ladders crash to the ground. Whose injuries will be
covered by Sam's Homeowners policy under Coverage E - Personal Liability? -
ANSWER: Only Dan's injuries would be covered
Torts that can be covered by insurance policies include all of the following, EXCEPT: -
ANSWER: Intentional torts purposely committed to cause harm to another.
The insured has a $1,000,000 personal umbrella policy with a $5,000 retention limit.
For a $7,000 liability loss not covered under the insured's personal auto policy, but
covered under the umbrella policy, the insurance company would pay: - ANSWER:
$2,000
All of the following is considered an "insured" under a CGL policy, EXCEPT: -
ANSWER: Lawyers of the named insured
What specific type of liability policy gives an owner protection against liability claims
arising out of the acts of its independent contractors? - ANSWER: Owners and
Contractors Protective Liability Policy.
Which of the following would be eligible for coverage under a Businessowners
policy? - ANSWER: A small retail store
Which of the following is NOT a correct statement in determining the cost of a
"comparable automobile" when a physical damage loss has a occurred? - ANSWER:
The cost of a comparable automobile as determined by a computerized automobile
valuation service that produces statistically valid fair market values within the United
States market
, All of the following statements are TRUE of North Carolina automobile liability
policies, EXCEPT - ANSWER: If the insured carries limits greater than the minimum
financial responsibility limits required by state law, they are not required to carry
Uninsured/Underinsured Motorists coverage.
The basic limit for Coverage F -- Medical Payments of the standard Homeowners
forms is: - ANSWER: $1,000 per person
Oliver Dogwood was in an auto accident which destroyed his car. While investigating
the accident, Adjuster Doright found that Mr. Dogwood paid $1,000 for the vehicle.
After checking with others he found the same vehicle with an asking price of $1,700,
a retail price of $2,150 and a dealer price of $1,750. What amount will Mr. Dogwood
receive? - ANSWER: $2,150
When a claims representative is collecting information from a third-party claimant,
which of the following is the information that should be obtained first? - ANSWER:
The nature and extent of the injuries or property damage claimed.
The Business Auto uses Symbol 7 to cover "specifically described autos" identified in
the declarations. An auto acquired during the policy period will only be covered: -
ANSWER: If the insured insures all of their vehicles with the company or it replaces a
covered auto..
What coverage under the BOP automatically applies if a customer slips and falls on
the named insured's premises, regardless of legal liability? - ANSWER: Medical
expense coverage
When an insurer is called upon to defend a suit under a CGL policy, the amount that
can be paid for the defense costs is: - ANSWER: Not limited
Any North Carolina lender in making or servicing real estate mortgage or deed of
trust loans on one to four family residences must accept a binder as proof of
insurance. The binder presented to the lender must include all of the following,
EXCEPT - ANSWER: A sworn statement that the insurance will be kept in force.
Which of the following statements is TRUE concerning Part A - Liability coverage on a
standard Personal Automobile policy? - ANSWER: The coverage is provided only for
accidents caused by those who are "insureds" under the policy..
Which of the following is NOT a reason to purchase a Dwelling policy instead of a
Homeowners policy? - ANSWER: The Dwelling policy provides higher limits of liability
than the Homeowners policy..
Which of the following is NOT excluded by Section II - Liability of the Business
Automobile policy? - ANSWER: Cost to defend the insured
