NC ADJUSTER LICENSE ACTUAL EXAM
QUESTIONS AND ANSWERS NEW MODIFIED
EXAM
4 Parts of Insurance Contract? -- ANSWER--Declarations
Conditions
Exclusions
Insuring Agreement
Trees, shrubs and plants are covered up to:
a. $500 per occurrence
b. $5000 per occurrence
c. 5% of A
d. None of the above -- ANSWER--c. 5% of A
which of the following is not a method of risk management?
a. avoidance
b. transfer
c. sharing
d. control -- ANSWER--control
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,form of liability that would extend from child to parent is
a. strict
b. vicarious
c. contributory
d. NOTA -- ANSWER--vicarious
A Surety Bond protects which of the following parties from the failure of a
contractor?
a. Principal
b. Contractor performing the work
c. Surety
d. Obligee -- ANSWER--d. Obligee
The DP-3 is a policy that essentially covers all perils except those that are
specifically excluded. All of the following are excluded perils EXCEPT: a) war
b) flood
c) nuclear hazards
d) falling objects -- ANSWER--falling objects
The DP-1 covers all of the following standard perils EXCEPT: a) fire
b) lightning
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, c) internal explosion
d) hail -- ANSWER--d) hail
Obtaining insurance is a method of:
a) transferring risk
b) evaluating risk
c) eliminating risk
d) identifying risk -- ANSWER--a) transferring risk
Which is an example of a pure risk?
a. Deciding to manufacture a new drug (incorrect)
b. Purchasing a piece of real estate
c. Threat of fire damage to property
d. Playing the lottery -- ANSWER--c) threat if fire damage to property
Which of the following dwelling policies does not have Coverage E without an
endorsement?
a. DP-1
b. DP-2
c. DP-3
d. DP-4 -- ANSWER--a. DP-1
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QUESTIONS AND ANSWERS NEW MODIFIED
EXAM
4 Parts of Insurance Contract? -- ANSWER--Declarations
Conditions
Exclusions
Insuring Agreement
Trees, shrubs and plants are covered up to:
a. $500 per occurrence
b. $5000 per occurrence
c. 5% of A
d. None of the above -- ANSWER--c. 5% of A
which of the following is not a method of risk management?
a. avoidance
b. transfer
c. sharing
d. control -- ANSWER--control
Page 1 of 20
,form of liability that would extend from child to parent is
a. strict
b. vicarious
c. contributory
d. NOTA -- ANSWER--vicarious
A Surety Bond protects which of the following parties from the failure of a
contractor?
a. Principal
b. Contractor performing the work
c. Surety
d. Obligee -- ANSWER--d. Obligee
The DP-3 is a policy that essentially covers all perils except those that are
specifically excluded. All of the following are excluded perils EXCEPT: a) war
b) flood
c) nuclear hazards
d) falling objects -- ANSWER--falling objects
The DP-1 covers all of the following standard perils EXCEPT: a) fire
b) lightning
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, c) internal explosion
d) hail -- ANSWER--d) hail
Obtaining insurance is a method of:
a) transferring risk
b) evaluating risk
c) eliminating risk
d) identifying risk -- ANSWER--a) transferring risk
Which is an example of a pure risk?
a. Deciding to manufacture a new drug (incorrect)
b. Purchasing a piece of real estate
c. Threat of fire damage to property
d. Playing the lottery -- ANSWER--c) threat if fire damage to property
Which of the following dwelling policies does not have Coverage E without an
endorsement?
a. DP-1
b. DP-2
c. DP-3
d. DP-4 -- ANSWER--a. DP-1
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