California All Lines Adjuster Exam Questions Latest 2023 Rated A+, Exams of Nursing

Download California All Lines Adjuster Exam Questions Latest 2023 Rated A+ and more Exams Nursing in PDF only on Docsity! California All Lines Adjuster Exam Questions Latest 2023 Rated A+ The insured has filed a claim under the "Business Income Department Properties - Broad Form" because the primary buyer of products and services from the business has filed for bankruptcy under this form the primary buyers business would be known as - correct answer ✅A recipient location recipient location - correct answer ✅Businesses who support insured by being the primary buyer for their products HO-3 (special form) - correct answer ✅covers the dwelling and other structures on a risk-of-direct-physical loss basis. All direct physical losses are covered except those losses specifically excluded. Personal property is covered on a named perils basis HO-5 Comprehensive Form - correct answer ✅provides open perils coverage ("all-risks coverage") on the dwelling, other structures and personal property. HO-2 (broad form) - correct answer ✅covers the dwelling, other structures, and personal property on a named perils basis California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ HO-4 (contents broad form) - correct answer ✅Only covers a tenant's personal property on a named perils basis The dwelling is insured for 200,000 under DP-2 dwelling policy how much coverage applies to the barn? - correct answer ✅Nothing farm property are not eligible under the dwelling policy. A Covered Auto includes those vehicle(s) listed on the Declarations, plus any trailers or wagons owned by the Named Insured, any newly acquired vehicles, and any vehicle used as a _________. - correct answer ✅Temporary Substitute Auto The covered auto is defined in the policy as all of the following EXCEPT: A) any additional auto acquired in the past 30 days. B) any auto shown in the declarations. C) any auto used as a temporary substitute while an insured auto is being repaired. California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ The building and personal property coverage form provides coverage for outdoor signs - correct answer ✅Whether attached to the building or not for up to 2,500 if damaged by a peril insured against. Building and Personal Property Coverage Form - correct answer ✅Commercial Property coverage form that covers buildings, the insured's business personal property, and the personal property of others located at the business premises Foreseeability Test - correct answer ✅To determine if the defendant's conduct was the proximate cause of the plaintiff's injury, the court applies Foreseeability - correct answer ✅excludes liability for harms that were sufficiently unforeseeable at the time of the defendant's tortious conduct. Purpose of freight insurance - correct answer ✅Covers shipper fees Freight Insurance - correct answer ✅indemnifies the ship owner for the loss of earnings if the goods are damaged or lost and are not delivered. Shipper Fees. California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ Freight Insurance - correct answer ✅insures that shipowner will receive payment for transportation charges. What perils are covered on the basic form peril of the Homeowners Policy - correct answer ✅fire, lightning, smoke, windstorm, hurricane, hail, explosion, aircraft and vehicles, vandalism, riot and civil commotion, theft, and premises liability. What perils are covered under the broad from Homeowners Policy - correct answer ✅include basic perils plus falling objects; weight of ice, sleet, or snow; freezing pipes; and some coverage for sudden and accidental water discharge. Exclusions to Homeowners policy - correct answer ✅earthquakes; termites, rats; freezing pipes while your house is unoccupied; losses if your house is vacant for the number of days specified by your policy; California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ wear and tear or maintenance; wind or hail damage to trees and shrubs; mold, except necessary costs to repair or replace property damage caused by a covered water loss; and water damage resulting from continuous and repeated leakage or seepage. Landlord's furnishing - correct answer ✅Is not additional coverage and doesn't insurance the limits of the policy Power to bind means - correct answer ✅The principal is bound to the decisions of the adjuster RVC (replacement cost value) - correct answer ✅The cost to replace the property on the same premises with other property of comparable material and quality used for the same purpose DP-3 Special Form - correct answer ✅Under this Dwelling coverage form: dwelling and other structures are covered for all direct physical damage (open peril), except for perils specifically excluded.. California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ Completion Bond - correct answer ✅A bond obtained by the contractor or owner, which guarantees that the project will be completed free of liens. Labor and materials bond - correct answer ✅Guarantees bills for labor and materials will be paid to the contractor as they are due. How the standard Businessowners policy additional coverage of "Collapse" becomes payable? - correct answer ✅The collapse must be such that the building cannot be used as intended. A public adjuster represents the interest of - correct answer ✅insured Which of the following would be covered under a Personal Umbrella policy? - correct answer ✅An insured who commits an intentional act of violence to protect his family. Gerald owns an expensive and rare painting. He has it appraised by an art dealer and insures it for $50,000 under a Personal Articles Floater. A year California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ later, several other rare paintings similar to Gerald's and painted by the same artist are discovered, causing the value of Gerald's painting to be reduced to $40,000. Soon after this development, the painting is destroyed in a fire at Gerald's place of business. After ruling out fraud, how will the insurance company settle the loss? - correct answer ✅The insurance company will cover the item for the full $50,000 amount because this was the "agreed value". The Commercial Building & Personal Property coverage form includes an Additional Coverage for property removed from the premises because of being endangered by an insured peril. The coverage applies for - correct answer ✅30 days after the property is first moved. . An insured with auto limits of 10/20/10 causes bodily injuries to a third party of $8,000. After losing in court he has defense costs of $5,000. What is the insurance company's responsibility to pay? - correct answer ✅$13,000 Bob and Pete's Used Cars has purchased a Garage policy with dealer's physical damage coverage on the cars owned by the dealership at its location. Pete goes to an auto auction 150 miles away, purchases a vehicle and drives it back to the dealership. If Pete suffers a physical damage loss California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ during this trip: - correct answer ✅Coverage will apply only if the "Dealers Drive Away Collision" endorsement is attached to the Garage policy.. The duties of the insured after a loss are included in insurance policy language to - correct answer ✅Assist in the adjuster's investigation of the claim.. Part One of the standard workers' compensation policy describes: - correct answer ✅The insurer's duty to pay promptly, when due, the benefits required of the employer by the workers compensation statute.. Nina has the "Preservation of Property" additional coverage included in her standard Businessowners policy. How long does coverage apply while the property is being stored at another location? - correct answer ✅30 days from the day the property was first moved John's Texas adjuster license has been expired for 16 months. Which of the following describes the procedure John will need to follow to reinstate his license? - correct answer ✅John will need to take the state licensing exam again and submit an application for a new license California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ Which of the following is a statement that is guaranteed to be the truth throughout the duration of the policy? - correct answer ✅A warranty Builders Risk Coverage Form - correct answer ✅One of the commercial property coverage forms; covers commercial, residential, or farm buildings that are under construction Value Reporting Endorsement - correct answer ✅Endorsement used with the Commercial Property coverage part to provide coverage based on the actual values of property at certain locations at specific times. The insured carries a personal auto policy providing a bodily injury limit of $50,000 each person with a per accident injury limit of $100,000. He injures two occupants in another vehicle. Their injuries total $60,000 for Mr. Jones and $50,000 for Mrs. Jones. The insurance company spent $40,000 in defense and investigation costs. How much will the insured's policy pay? - correct answer ✅$140,000 Three parties to a contract bond - correct answer ✅Principal, obligee, surety California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ transfer risk - correct answer ✅The purpose of insurance Ocean Marine and/or Aviation insurance are "specialty" policies that cannot be - correct answer ✅packages together with other commercial risks into a package policy. Which of the following types of insurance companies must charge a premium tax to be remitted to the state each time a policy is sold? - correct answer ✅Surplus Lines company.. Mitch is covered by a Personal Auto policy. One night a cow breaks through a fence and is standing on the roadway. Mitch does not see the cow until it is too late and he hits it with his vehicle. Coverage for the damage to Mitch's vehicle: - correct answer ✅Is provided under Part D - Other Than Collision Collin suffered a work-related injury on the morning of June 2nd and was off work completely until he returned to work on full duty on June 20th. Collin had worked for his employer for four years and was paid $55,650 per year. Collin's state sets the TTD rate at 70% percent of the average weekly wage. California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ The state sets the maximum compensation rate at $580 per week and the waiting period at 5 days retroactive after 7 days. Collin was not paid for working on February 5th. Collin's average weekly wage is approximately ____ and the amount of compensation benefits he will receive per week while off work is approximately ____. - correct answer ✅$1,070 / $580 Collins average weekly wage is $1,070 ($55,650 divided by 52 weeks). Then, we calculate 70% of $1,070 to determine 70% of Collins' AWW would be, which is $749. However, Collin's state sets TTD payment rates to a maximum limit of $580, therefore, Collin's compensation payments will be $580. What is "express authority" under the law of agency? - correct answer ✅The authority given to the agent as specified in the contract. following factors is the most crucial in distinguishing between an employee- employer relationship and an independent contractor relationship? - correct answer ✅Whether the employer controls the manner in which the work is performed California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ situation likely to be handled? - correct answer ✅A statutory form will be drawn up and attached to each Homeowners policy Indemnify Insurance writes in the state.. The information provided by the insured in a proof of loss form is considered - correct answer ✅A representation representation - correct answer ✅statements made by the insured that are assumed to be truthful to the best of the insured's knowledge. The NAIC Model Unfair Claim Settlement Practice Act provides for a financial penalty of _________ for each violation of the Act. - correct answer ✅1,000 Mr. York had his pickup truck stolen while it was parked in a "no parking" zone outside his office. The value of the truck was $18,500. In addition, tools valued at $200, extra tires and hubcaps for the truck valued at $550 and a tarp worth $50 were in the truck. Mr. York has a collision deductible of $500 and a comprehensive deductible of $250. The insurance company will pay what amount? - correct answer ✅18,800 California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ The loss of the truck plus the extra tires and hubcaps would be considered in this claim. These total $19,050 less the deductible of $250 equals $18,800. Who makes the offer in an insurance contract? - correct answer ✅applicant Underinsured motorist coverage provides first-party protection to an insured after an accident in which of the following situations? - correct answer ✅The other driver has insufficient liability limits and is "at-fault" Structures connected by a fence or utility line are considered to be "other structures" and would be covered under - correct answer ✅Coverage B of the under Homeowners forms. DP-1 Basic Form - correct answer ✅Perils insured against are fire, lightning, and internal explosion. Which of the following standardized Dwelling insurance forms provides coverage for loss of rental income? - correct answer ✅DP-1, DP-2, DP-3 California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ DP-2 Broad Form - correct answer ✅This dwelling coverage form covers perils included under the DP-1 with ECE and optional VMM endorsement attached, plus: burglars; falling objects; weight of snow, ice, sleet; accidental discharge or overflow of water or steam; sudden and accidental tearing apart, cracking, burning or bulging of a steam or hot water heating system, or an air conditioning or automatic fire protective sprinkler system, or an appliance for heating water; freezing of a plumbing, heating, air conditioning, or automatic fire protective sprinkler system, or of a household appliance; and sudden and accidental damage from artificially generated electrical current. DP-3 Special Form - correct answer ✅An all risk policy (on the structure coverage only), in which anything not excluded is covered. Contents (if covered) are still named peril, as in the DP-2. Includes all DP-1 and DP-2 coverage. Adverse selection occurs when - correct answer ✅Applicants are accepted by the insurer with little or no attention given to underwriting. California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ Which of the following best describes how the peril of "theft" is covered under the 1943 New York Standard Fire policy? - correct answer ✅Theft is a covered peril under the removal coverage.. Linda has received an inquiry from the Texas Commissioner. She realizes that she is required by law to respond to the inquiry, however her response contains information that is confidential and privileged. Which of the following is true of Linda's response to the Commissioner's inquiry? - correct answer ✅The information will remain confidential and privileged until it is introduced as evidence in an administrative hearing or in a court of law.. A contractor in need of a bid bond to obtain a contract is an example of a(n): - correct answer ✅A principal When should a non waiver agreement be used - correct answer ✅when there are unresolved questions regarding coverage, limits or both. The adjuster would be wise to present such of waiver to the claimant/insured during the initial site visit. California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ An insured purchases a $1 million umbrella policy with a $1,000 self-insured retention (SIR) and agrees to maintain the following underlying limits: auto liability - $100/300/50 and personal liability limits of $300,000. The insured is involved in an at-fault auto accident and the claimant is awarded $200,000 for his bodily injuries. What will the umbrella pay if the insured only carries $50/100/50 auto limits? - correct answer ✅$100,000 When the insured does not maintain underlying limits as stated in the umbrella policy, the umbrella carrier pays as though those limits were in effect. The insured would have to pay $50,000, the underlying carrier would pay $50,000 and the umbrella carrier would pay the remainder. Indemnity - correct answer ✅a payment for damage or loss Replevin - correct answer ✅An action to recover specific goods in the hands of a party who is wrongfully withholding them from the other party. General Average - correct answer ✅In water transportation, the deliberate sacrifice of cargo to make the vessel safe for the remaining cargo. Those sharing in the spared cargo proportionately cover the loss. California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ In Commercial Inland Marine policies, who transports the property of anyone who hires them? - correct answer ✅common carriers Commercial inland marine policies require the insured to submit a signed, sworn statement of loss: - correct answer ✅Within 60 days of the insurer requesting it.. Coverage F (Homeowners) - correct answer ✅Medical payments to others- regards of fault. Med pay will pay for injury. Will not cover pain and suffering. You will be reimbursed. -Basic limit is $1000 per injury but can be raised. -will cover for medical treatments up to 3 years from the date of accident HO-4 policy - correct answer ✅Renters policy. Personal property covered for broad perils. Automobile No-Fault Laws - correct answer ✅insurance that indemnifies the insured regardless of who was at fault in an accident. No-fault laws also restrict the insured's right to sue the at-fault party. California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ The premium - correct answer ✅A specific sum of money paid by the insured to the insurance company in exchange for financial protection against loss. The pre-defined amount of an insurance claim that is paid by the policyholder is known as - correct answer ✅The deductible A Texas insurer has notified a claimant that all or part of a claim will be paid. The claim must be paid not later than the ____ business day after the date notice is made. - correct answer ✅5th Coverage C of the homeowners policy is extended to all of the following except: property borrowed for use by the insured. machinery used in maintenance of the premises. pets owned by the insured. clothing of a daughter living at college. property away from the insured's premises. - correct answer ✅pets owned by the insured. California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ Coverage C Exclusions - correct answer ✅-Articles separately described & insured on this or another policies, -animals, birds, fish, -Motor vehicles, - Aircraft, -Property of roomers & boarders. -property in an apartment regulary rented or held for rental, Property rented or held for rental to others off premises. Books f accounts, drawings, other paper records; electronic data procesing tapes, wires, records, disks & software containing business data Which of the following property would be excluded from coverage for loss under Coverage C of the Homeowners policies? - correct answer ✅A valuable baseball card collection owned by the named insured's son that is covered under a separate personal articles floater. . Part D ( auto policy) - correct answer ✅coverage for damage to your auto (physical damage) Nonconcurrency - correct answer ✅A situation in which other insurance is written on the same risk, but not on the same coverage basis. California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ Split Limits - correct answer ✅separate limits for bodily injury and property damage liability coverage dual capacity claims - correct answer ✅A dual capacity claim is filed against an employer that was acting in a capacity "other than as an employer" at the time the injury occurred Part A of the personal auto policy would apply in which of the following situations? A) Driver who intentionally causes an accident. B) Garage mechanic while test-driving the insured's auto. C) Insured's 13-year-old son who, while playing with the car, starts it and lets it roll into the street, damaging other parked cars. D) Driver using the insured vehicle to transport people for a fee. - correct answer ✅Answer: C California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ Certificate of Insurance - correct answer ✅A legal document that indicates that an insurance policy has been issued, and that states both the amounts and types of insurance provided. The common conditions of a Commercial Package policy - correct answer ✅States that to properly rate the policy, the insurer has the right to examine the books and records of the insured company.. Personal Auto Policy (PAP) - correct answer ✅An insurance policy that covers an individual or a family against loss exposures arising out of the ownership, maintenance, or use of automobiles. BB Jim and Tina are a married couple that enjoy the outdoors. They have their motor home and pick-up truck covered by a standard Personal Automobile policy and both vehicles are listed on the declarations page of the policy. They attend a Camping & RV show on May 1st and purchase a small camper to use when camping near their home that summer. Jim calls the insurance agent on May 10th and adds the camper to the policy. On May 24th, Jim and Tina are pulling their new camper with their pick-up truck on their way to a nearby camp site. Jim is driving and turns a tight corner, clipping a street lamp with the side of the camper. How will Jim and Tina's Personal Auto California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ policy cover the body damage to their camper? - correct answer ✅The body damage will be covered by Part D of the policy because Jim reported the new camper to the insurance agent within the required 14 days Adjusters in Texas must complete at least _____ of the continuing education required to renew their license in a classroom or classroom equivalent setting. - correct answer ✅50% Willie's Widgets is eligible to receive an experience rating to bring down their workers' compensation premium rates. Willie's is granted this eligibility on May 1st, 2018. Which of the following best defines the "experience period" the NCCI will use to calculate Willie's experience rating? - correct answer ✅ It has been reported to the Insurance Department in a given state that Callie, a licensee in that state, has violated an insurance law. The Insurance Commissioner will hold a hearing to determine the nature of Callie's behavior. After the hearing, the Commissioner is convinced that Callie has engaged in behavior that violates insurance law. Which of the following is the next step the Commissioner will take? - correct answer ✅Issuing a cease and desist order California All Lines Adjuster Exam Questions Latest 2023 Rated A+ California All Lines Adjuster Exam Questions Latest 2023 Rated A+ In regards to Workers Compensation insurance, which of the following experience modification factors would indicate that an insured has sustained a relatively high frequency and severity of losses in the recent past? - correct answer ✅1.25 Jim Cress owns an expensive fine arts collection. He has it appraised and covered under a personal articles floater. He takes his collection to England to have it auctioned. While the collection is in his hotel room it is stolen. What coverage would apply? - correct answer ✅The loss is not covered The collection has been moved outside the covered territory for fine arts. The coverage is not world-wide and covers them while in the United States, its possessions, Puerto Rico and Canada An insured has purchased Coverage A and Coverage B of a standard Businessowners policy and the limit of insurance shown in the Declarations is 80% of the replacement cost value, how will losses be settled? - correct answer ✅Both Coverage A and Coverage B will be settled on a replacement cost basis California All Lines Adjuster Exam Questions Latest 2023 Rated A+