8/18/25, 7:15 AM N.C. Claims Adjuster EXAM (2025/2026) Updated: EXAM QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT!! Flashcard…
N.C. Claims Adjuster EXAM (2025/2026) Updated:
EXAM QUESTIONS WITH ACCURATE ANSWERS |
GET IT RIGHT!!
Save
Terms in this set (329)
an insurance policy covers the insured starting at
Inception/Expiration Date 12:01am on the day on which coverage begins and
expires at 12:01am on the expiration day of the policy.
Occurrence Date Date of which the loss occurred
The loss report should include the names and
Identification of parties addresses of the parties involved in the loss, the
involved names and addresses of any injured person(s) and the
names and addresses of any witness(s).
Identifies the type of coverage purchased (policy
Policy Form/Number form) and the policy number for the particular policy
purchased by the insured.
Information concerning how, when and where the
Description of the Loss accident or loss happened is an essential element in
any loss report.
Shows the type of coverage(s) purchased as well as
Coverage
the limits of coverage purchased.
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,8/18/25, 7:15 AM N.C. Claims Adjuster EXAM (2025/2026) Updated: EXAM QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT!! Flashcard…
Are amounts paid to compensate the plaintiff for
direct expenses such as medical treatment, lost wages
(both past and future), funeral expenses and
Damages - Special
rehabilitation expenses required because of bodily
Compensatory damages
injury. Special damages are paid for losses that can be
determined and documented. They are often referred
to as "out-of-pocket" expenses.
Are paid for losses that cannot be specifically
measured and itemized in order to compensate the
Damages - General
plaintiff for things such as pain and suffering, loss of
Compensatory Damages
the use of an arm or leg, loss of vision, physical
disfigurement and/or loss of consortium.
Are typically awarded to the plaintiff in addition to
compensatory damages when the defendants
Damages - Punitive
conduct has been especially malicious. Punitive
Damages
damages are awarded to punish the defendant and to
deter others from engaging in similar actions.
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,8/18/25, 7:15 AM N.C. Claims Adjuster EXAM (2025/2026) Updated: EXAM QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT!! Flashcard…
1. Knowingly misrepresenting relevant facts or policy
provisions relating to the coverage at issue. 2. Failing
to acknowledge with reasonable promptness
communications pertaining to claims. 3. Failing to
adopt and implement reasonable standards for the
prompt investigation of claims. 4. Arbitrary and
unreasonable refusal to pay claims. 5. Failing to affirm
or deny coverage of claims within a reasonable time
after proof of loss has been completed. 6. Not
attempting in good faith to make prompt, fair and
Unfair Claims Settlement
equitable claims settlement when the insurer's liability
Practices
has become reasonably clear. 7. Compelling insureds
to institute suits to recover amounts due under a
policy by offering substantially less to settle
immediately. 8. Attempting to settle claims for less
than the amount for which a reasonable person would
believe one was entitled based on written or printed
advertising material accompanying or made a part of
an application. I. Attempting settlement of claims on
the basis of applications that were altered without
notice to knowledge of or consent of insureds.
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, 8/18/25, 7:15 AM N.C. Claims Adjuster EXAM (2025/2026) Updated: EXAM QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT!! Flashcard…
1. If the insurer and the claimant are unable to reach
an agreement as to the value of the vehicle, the
insurer shall base any further settlement offer not only
on the published regional average value of similar
vehicles, but also on the value of the vehicle in the
local market. 2. Local market value shall be
determined by using either the local price of a
comparable vehicle or if no comparable vehicle can
be found, quotations from at least two qualified
dealers within the local market area. Additionally, if
the claimant represents that the vehicle was in better
than average condition, the insurer shall give due
Total Losses on Motor consideration to the condition of the claimant's
Vehicles/Miscellaneous vehicle prior to the accident. 3. When a motor vehicle
Provisions is damaged in an amount which equals or exceeds 75
percent of the preaccident actual cash value, an
insurer shall "total loss" the vehicle by paying the
claimant the preaccident value and in return,
receiving possession of the legal title for salvage
purposes. 4. The insurer will be responsible for all
reasonable towing and storage charges until three
days after the owner and the storage facility are
notified in writing that the insurer will no longer
reimburse the owner or storage facility for storage
charges. 5. Loss and claims payments shall be mailed
or otherwise delivered within 10 business days after
the claim is settled.
An after market part is any part made by a non
After Market Parts
original manufacturer.
When there is a chance of gain as well as a chance of
Speculative Risk loss. Insurance is not intended to protect against this
type of risk.
Pure Risk When there is a chance of loss only.
Insurable Risk One that an insurance company is willing to accept.
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N.C. Claims Adjuster EXAM (2025/2026) Updated:
EXAM QUESTIONS WITH ACCURATE ANSWERS |
GET IT RIGHT!!
Save
Terms in this set (329)
an insurance policy covers the insured starting at
Inception/Expiration Date 12:01am on the day on which coverage begins and
expires at 12:01am on the expiration day of the policy.
Occurrence Date Date of which the loss occurred
The loss report should include the names and
Identification of parties addresses of the parties involved in the loss, the
involved names and addresses of any injured person(s) and the
names and addresses of any witness(s).
Identifies the type of coverage purchased (policy
Policy Form/Number form) and the policy number for the particular policy
purchased by the insured.
Information concerning how, when and where the
Description of the Loss accident or loss happened is an essential element in
any loss report.
Shows the type of coverage(s) purchased as well as
Coverage
the limits of coverage purchased.
https://quizlet.com/1066363593/nc-claims-adjuster-exam-20252026-updated-exam-questions-with-accurate-answers-get-it-right-flash-cards/?new 1/66
,8/18/25, 7:15 AM N.C. Claims Adjuster EXAM (2025/2026) Updated: EXAM QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT!! Flashcard…
Are amounts paid to compensate the plaintiff for
direct expenses such as medical treatment, lost wages
(both past and future), funeral expenses and
Damages - Special
rehabilitation expenses required because of bodily
Compensatory damages
injury. Special damages are paid for losses that can be
determined and documented. They are often referred
to as "out-of-pocket" expenses.
Are paid for losses that cannot be specifically
measured and itemized in order to compensate the
Damages - General
plaintiff for things such as pain and suffering, loss of
Compensatory Damages
the use of an arm or leg, loss of vision, physical
disfigurement and/or loss of consortium.
Are typically awarded to the plaintiff in addition to
compensatory damages when the defendants
Damages - Punitive
conduct has been especially malicious. Punitive
Damages
damages are awarded to punish the defendant and to
deter others from engaging in similar actions.
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,8/18/25, 7:15 AM N.C. Claims Adjuster EXAM (2025/2026) Updated: EXAM QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT!! Flashcard…
1. Knowingly misrepresenting relevant facts or policy
provisions relating to the coverage at issue. 2. Failing
to acknowledge with reasonable promptness
communications pertaining to claims. 3. Failing to
adopt and implement reasonable standards for the
prompt investigation of claims. 4. Arbitrary and
unreasonable refusal to pay claims. 5. Failing to affirm
or deny coverage of claims within a reasonable time
after proof of loss has been completed. 6. Not
attempting in good faith to make prompt, fair and
Unfair Claims Settlement
equitable claims settlement when the insurer's liability
Practices
has become reasonably clear. 7. Compelling insureds
to institute suits to recover amounts due under a
policy by offering substantially less to settle
immediately. 8. Attempting to settle claims for less
than the amount for which a reasonable person would
believe one was entitled based on written or printed
advertising material accompanying or made a part of
an application. I. Attempting settlement of claims on
the basis of applications that were altered without
notice to knowledge of or consent of insureds.
https://quizlet.com/1066363593/nc-claims-adjuster-exam-20252026-updated-exam-questions-with-accurate-answers-get-it-right-flash-cards/?new 3/66
, 8/18/25, 7:15 AM N.C. Claims Adjuster EXAM (2025/2026) Updated: EXAM QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT!! Flashcard…
1. If the insurer and the claimant are unable to reach
an agreement as to the value of the vehicle, the
insurer shall base any further settlement offer not only
on the published regional average value of similar
vehicles, but also on the value of the vehicle in the
local market. 2. Local market value shall be
determined by using either the local price of a
comparable vehicle or if no comparable vehicle can
be found, quotations from at least two qualified
dealers within the local market area. Additionally, if
the claimant represents that the vehicle was in better
than average condition, the insurer shall give due
Total Losses on Motor consideration to the condition of the claimant's
Vehicles/Miscellaneous vehicle prior to the accident. 3. When a motor vehicle
Provisions is damaged in an amount which equals or exceeds 75
percent of the preaccident actual cash value, an
insurer shall "total loss" the vehicle by paying the
claimant the preaccident value and in return,
receiving possession of the legal title for salvage
purposes. 4. The insurer will be responsible for all
reasonable towing and storage charges until three
days after the owner and the storage facility are
notified in writing that the insurer will no longer
reimburse the owner or storage facility for storage
charges. 5. Loss and claims payments shall be mailed
or otherwise delivered within 10 business days after
the claim is settled.
An after market part is any part made by a non
After Market Parts
original manufacturer.
When there is a chance of gain as well as a chance of
Speculative Risk loss. Insurance is not intended to protect against this
type of risk.
Pure Risk When there is a chance of loss only.
Insurable Risk One that an insurance company is willing to accept.
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