Texas All-Lines Adjuster Exam Study
Guide QUESTIONS AND
ANSWERS
The HO-2 insurance policy covers the dwelling and 17 named perils.
It i s known a s the policy.
A. Special
B. Broad
C. Basic
D. Deluxe
B. Broad
Bailees are one of the most common purchasers of Inland Marine
Insurance. What is a bailee?
A. Transporting a person's vehicle home for them.
B. A person or organization voluntarily receiving the property.
C. Warranty on goods received.
D. Two or more individuals sharing ownership of the same property.
B. A person or organization voluntarily receiving the property.
The Standard Fire Policy was standardized by what state and policy?
A. Washington Standard Fire Policy
B. Texas Standard Fire Policy
,C. New York Standard Fire Policy
D. Delaware Standard Fire Policy
C. New York Standard Fire Policy
A common Inland Marine policy is known as the Bailee Customers Policy.
What type of business would this cover?
A. Dry Cleaners
B. Department Store
C. Grocery Store
D. Car Dealership
A. Dry Cleaners
The initial Fire Policy was considered a(n) ___ policy
A. Named Peril
B. Multi-Peril
C. All-Risk
D. Multi-Line
A. Named Peril
Inland marine insurance covers all the following except:
A. Pipelines
B. Bridges
C. Watercraft
D. Telephone Lines
C. Watercraft
Ocean marine policies cover many perils of the sea. Which of the following
would not be covered from the Ocean marine hull form?
A. Fire
,B. Perils of the Sea
C. Pollution
D. Pirates
C. Pollution
The loss payment provision in an Inland Marine Insurance Policy states the
carrier must take action
within ___ of receipt of the Proof of Loss.
A. 30 days
B. 24 hours
C. 1 5 days
D. 45 days
A. 30 days
Under the ISO Homeowners Insurance Policy, what would be covered
under Coverage A?
A. Personal property
B. Dwelling
C. Out buildings
D. Medical payments
B. Dwelling
A mathematical concept that the more times an event is repeated, the more
predictable the outcome
is known as ___
A. a package policy
B. abandonment
C. good luck
D. the law of large numbers
, D. the law of large numbers
Which of the following coverages is required to protect precious cargo
from damage or loss under an
Ocean Marine Insurance Policy?
A. Jettison Coverage
B. Liability Coverage
C. Cargo Coverage
D. Hull Coverage
C. Cargo Coverage
A bond that guarantees that a contractual obligation will be met, such as a
debt, duty, and or commitment:
A. Bid Bond
B. Bail Bond
C. Fidelity Bond
D. Surety Bond
D. Surety Bond
Which regulatory body handles violations of related insurance issues only?
A. Walker Texas Ranger
B. Board of Insurance
C. Deceptive Trade Practices Act
D. Texas Insurance Code
D. Texas Insurance Code
Guide QUESTIONS AND
ANSWERS
The HO-2 insurance policy covers the dwelling and 17 named perils.
It i s known a s the policy.
A. Special
B. Broad
C. Basic
D. Deluxe
B. Broad
Bailees are one of the most common purchasers of Inland Marine
Insurance. What is a bailee?
A. Transporting a person's vehicle home for them.
B. A person or organization voluntarily receiving the property.
C. Warranty on goods received.
D. Two or more individuals sharing ownership of the same property.
B. A person or organization voluntarily receiving the property.
The Standard Fire Policy was standardized by what state and policy?
A. Washington Standard Fire Policy
B. Texas Standard Fire Policy
,C. New York Standard Fire Policy
D. Delaware Standard Fire Policy
C. New York Standard Fire Policy
A common Inland Marine policy is known as the Bailee Customers Policy.
What type of business would this cover?
A. Dry Cleaners
B. Department Store
C. Grocery Store
D. Car Dealership
A. Dry Cleaners
The initial Fire Policy was considered a(n) ___ policy
A. Named Peril
B. Multi-Peril
C. All-Risk
D. Multi-Line
A. Named Peril
Inland marine insurance covers all the following except:
A. Pipelines
B. Bridges
C. Watercraft
D. Telephone Lines
C. Watercraft
Ocean marine policies cover many perils of the sea. Which of the following
would not be covered from the Ocean marine hull form?
A. Fire
,B. Perils of the Sea
C. Pollution
D. Pirates
C. Pollution
The loss payment provision in an Inland Marine Insurance Policy states the
carrier must take action
within ___ of receipt of the Proof of Loss.
A. 30 days
B. 24 hours
C. 1 5 days
D. 45 days
A. 30 days
Under the ISO Homeowners Insurance Policy, what would be covered
under Coverage A?
A. Personal property
B. Dwelling
C. Out buildings
D. Medical payments
B. Dwelling
A mathematical concept that the more times an event is repeated, the more
predictable the outcome
is known as ___
A. a package policy
B. abandonment
C. good luck
D. the law of large numbers
, D. the law of large numbers
Which of the following coverages is required to protect precious cargo
from damage or loss under an
Ocean Marine Insurance Policy?
A. Jettison Coverage
B. Liability Coverage
C. Cargo Coverage
D. Hull Coverage
C. Cargo Coverage
A bond that guarantees that a contractual obligation will be met, such as a
debt, duty, and or commitment:
A. Bid Bond
B. Bail Bond
C. Fidelity Bond
D. Surety Bond
D. Surety Bond
Which regulatory body handles violations of related insurance issues only?
A. Walker Texas Ranger
B. Board of Insurance
C. Deceptive Trade Practices Act
D. Texas Insurance Code
D. Texas Insurance Code
