NJ Claims Adjuster Exam 100Questions and Answers, Exams of Nursing

Download NJ Claims Adjuster Exam 100Questions and Answers and more Exams Nursing in PDF only on Docsity! NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. Any policy which provides property & liability coverage (not homeowner) - Correct Answers ✅Multi Peril-Package Sold in Texas, but not Texas form - Correct Answers ✅ISO policy Mainly the only TDP sold, now with plethora of endorsements - Correct Answers ✅Only Texas DP 1 Granddaddy of all Texas property policies - Correct Answers ✅Texas Standard Fire Policy Owner of a taxi to cover collision damage - Correct Answers ✅Business auto coverage e.g. 3k gallons of milk in tanker truck - Correct Answers ✅Inland Marine (build milk policy) would cover e.g. NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. Would all cover damage to something like a gift card shop fire - Correct Answers ✅Texas Standard, Standard Fire & Business Owner Owner of family far, for potential injury to other people - Correct Answers ✅Tx Personal Auto Policy e.g. Trucking company, for potential damage to other people's trailers which the trucking company may be pulling - Correct Answers ✅Trucker's policy Replacement cost less depreciation - Correct Answers ✅Actual Cash Value (ACV) For valet parking service to have appropriate liability coverage it needs what kind of policy? - Correct Answers ✅Garage Liability e.g. Types of casualty claims I will be unable to handle under license I'm studying for - Correct Answers ✅Flood, workers comp, crop, costal wind among others NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. The dwelling policy sold in texas - Correct Answers ✅TX Dwelling Form 1 The granddaddy of all Texas property policies - Correct Answers ✅Texas Standard Fire Policy is... Business auto e.g. - Correct Answers ✅E.g. Owner of a taxi who needs collision damage for his own taxi Inland Marine (Bulk Milk) e.g. - Correct Answers ✅E.g. 3,000 gallons of milk in tanker truck Texas Standard Fire, Standard Fire, Business owner e.g. - Correct Answers ✅E.g.Fire damage to small greeting card shop (3 possible policies) What is replacement cost less depreciation? - Correct Answers ✅Actual Cash Value (ACV) NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. For valet parking service to have appropriate liability coverage... Need what policy? - Correct Answers ✅Garage Liability Flood Workers comp Crop Coastal wind Etc.... - Correct Answers ✅Types of claims I am unable to do without attaining other licenses? (Name at least 2) Cover potential collision damage to insured's ship - Correct Answers ✅Ocean Marine Hull Coverage When it is not excluded - Correct Answers ✅When is it safe to assume something is covered? Policies that do not name/list covered perils - Correct Answers ✅Open peril, special, or all risk policies are... NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. In TDP-3, dwelling is covered for all risk and replacement cost, but PP is covered for... - Correct Answers ✅ACV & broad named peril What 2 default lines of insurance are included in homeowner and business owner policy - Correct Answers ✅Property and Liability Someone who bought and is importing furniture from Thailand would want what kind of policy to cover potential damage? E.g. - Correct Answers ✅Inland marine Cargo e.g. Policy a landlord purchase would provide best coverage on a rental property e.g. - Correct Answers ✅Dwelling Form 3 or equivalent e.g. Insured's care, custody & control of other people's property is given unusual treatment in any liability policy e.g. - Correct Answers ✅Insured has no liability over that property e.g. NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. Name a type of bond that one party guarantees with money the performance of another party to another 3rd party? E.g. - Correct Answers ✅surety bond is this type e.g. A written letter of rejection if coverage in policy were rejected - Correct Answers ✅Personal Injury Protection would require this What would result from rising water which has touched eart? - Correct Answers ✅Flood would result Is the first thing insured must to have coverage prior to any loss - Correct Answers ✅Paying premiums Auto insured has lost control of auto & caused damage to parked car. which covered in policy will respond to demands of parked car? E.g. - Correct Answers ✅Liability will respond to demands of... E.g. NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. Other than declaration, where in broad form policy will you find phrase "collapse of building"? E.g. - Correct Answers ✅You will find this phrase in insuring agreement e.g. Name of coverage offer in auto policy that would pay medical bills incurred by insured as result of at fault accident e.g. - Correct Answers ✅Personal injury Protection e.g. Insured has full coverage on home, auto, & boat--falls down stairs at home, seriously injures knee, which policy might pay medical bills? - Correct Answers ✅None will pay, even policy described as it is not "full coverage"--no such thing to buy insurance policy on property or on life of another person must... - Correct Answers ✅show Insurable interest in order... Fire is defied as this and this accompanied by heat and flame or visible glow - Correct Answers ✅Combustion or Rapid Oxidation NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. In an umbrella policy there is a provision that allows for payment in case underlying policies exclude coverage for even which is.... - Correct Answers ✅Known as Gap Coverage In an umbrella policy there is a provision that - Correct Answers ✅You have 91 days Libel slander & wrongful detention (among others) are examples of what? - Correct Answers ✅Personal Injury examples Medical payments coverage on auto policy provide medical benefits for injury to... - Correct Answers ✅Insured and covered persons Vacancy of commercial building or residential property is described as property with... - Correct Answers ✅Persons and property Actual Cost Value can also be defined as the current - Correct Answers ✅Replacement cost less depreciation NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. Insured has "full coverage" under auto, accidentally backs over his own motorcycle--what part of policy respond to his claim for motorcycle damage? - Correct Answers ✅None of them respond to this damage After all investigation is complete & you're aware that liability for insured's claim is clear, when should claim get paid? - Correct Answers ✅Immediately be paid 15 days to acknowledge receipt of new claim - Correct Answers ✅Article 542.003 (acknowledge) We have 5 business days to make payment once we have told insured claim or part of claim will be paid - Correct Answers ✅Article 542.003 (claim to be paid) Affirm or deny payment once insured has complied with all claim department's requests - Correct Answers ✅15 business days to... NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. Within 10 days after receiving an offer of settlement in investigation & handling of liability claim against our insured - Correct Answers ✅Notify the insured What is the purpose of insurance? - Correct Answers ✅To protect assets When a property is empty of all persons & property it is considered - Correct Answers ✅Vacant Agreement which one party voluntarily accepts cost of someone else's potential risk of loss - Correct Answers ✅Contractual Liability Friendly fire that escapes its intended boundaries & does damage - Correct Answers ✅Hostile Fire Property claims equivalent of investigating a loss - Correct Answers ✅Scoping NJ Claims Adjuster Exam 100Questions and Answers (Latest Update 2024) 100% Verified Answers. When insured files claim that is suspected of being potentially fraudulent--you should always have him file a motorized what? - Correct Answers ✅Proof of loss In addition to application for license, certificate of completion and payment of license fee, Texas residents are required to also get... - Correct Answers ✅Fingerprinting At least how many hours must be on the subject of ethics or consumer protection? - Correct Answers ✅2 hours... ______________ misrepresenting to claimants pertinent facts or policy provisions relating to coverages at issue is on of provisions of Article 21.21 of Texas Insurance Code - Correct Answers ✅Knowingly (21.21) it's a violation of article 21.21 to ______ or ______ settlement of claim solely because there is other insurance of different type available - Correct Answers ✅Delay or refuse (21.21)