Texas All Lines Adjuster Exam Questions and Answers Explained (Latest 2023/2024), Exams of Nursing

Download Texas All Lines Adjuster Exam Questions and Answers Explained (Latest 2023/2024) and more Exams Nursing in PDF only on Docsity! Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ All of the following are criteria for an accident to have occurred "in the course of" the employment under a workers' compensation policy, EXCEPT: - correct answer ✅While performing a task that a fellow worker requested, that was unusual to the employee's job description, but occurred on the employer's premises during working hours. Which of the following statements is NOT TRUE regarding the implied warranties of an Ocean Marine policy? - correct answer ✅The implied warranties are attached to the policy as an endorsement.. Parmelia is covered under two separate standardized Personal Automobile policies, with Part C limits under both policies set at $200,000. Parmelia is involved in an accident with an uninsured motorist and she sustains bodily injury damages for $262,320. How much will Parmelia receive when she submits a claim for these damages - correct answer ✅$200,000 Which of the following endorsements must be attached to a standard Businessowners policy for coverage to apply to a businesses freezer that was damaged by the interruption of a power source - correct answer ✅Utility Services - Direct Damage endorsement. After completing an inspection of an insured's pressure equipment and fire suppression systems, the inspector determines that the pressure equipment needs to be repaired and the suppression systems have not been cleaned and inspected in the time frame required by the policy. The insurer will: - correct answer ✅Suspend coverage immediately by red tagging the items until they are repaired, cleaned and pass reinspection Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ To be eligible for coverage under a standardized Dwelling policy, the insured must not allow more than _______ boarders to live on the premises. - correct answer ✅5 All of the following are "Perils of the Sea" under an Ocean Marine policy, EXCEPT: - correct answer ✅Pirates The amount of insurance countersigned, issued, or sold by an agent or producer to cover immediate family members, an employer, or employees is known as: - correct answer ✅Controlled business Which of the following standardized Dwelling insurance forms provides coverage for loss of rental income - correct answer ✅The DP-1, DP-2, and DP- 3 forms The "Part B - Medical Payments" coverage of a personal automobile policy covers injuries for all of the following, EXCEPT: - correct answer ✅A passenger who is injured in another vehicle that is struck by the insured's vehicle in an accident Which of the following are the Texas Workers' Compensation benefits that are increased by a cost-of-living adjustment (COLAs) - correct answer ✅Lifetime Income Benefits (LIBs) only Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ What type of insurance is usually provided or subsidized by the state or federal government because it is not ordinarily available from private insurers? - correct answer ✅Residual market insurance. The optional coverage for "Employee Dishonesty" under a standard Businessowners policy provides a "discovery period" for the insured to discover the dishonest act and have coverage still apply. Which of the following statements best describes the "discovery period" for this optional coverage? - correct answer ✅The "discovery period" is one year from the end of the policy period. Which of the following would be considered an Unfair Claim Settlement Practice? - correct answer ✅Failing to deny coverage of a claim within a reasonable amount of time after concluding the investigation Which of the following is TRUE regarding the DP-2 Broad Form coverage for "artificially generated electrical current"? - correct answer ✅A fire must be the result of the artificially generated electrical current for coverage to apply.. The Commercial Building and Personal Property coverage form provides five extensions of coverage, but only if: - correct answer ✅An 80% or higher coinsurance percentage is shown on the Declarations page, and the property amount of coverage, based on that percentage, is purchased. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ All of the following would be considered "uninsured motorists", EXCEPT: - correct answer ✅A motorist driving with coverage up to the required state financial responsibility limits for liability, but not high enough to pay the claims for an at-fault accident. Regulation of the insurance industry in the United States is primarily left to: - correct answer ✅State governments. Which of the following coverages does NOT need to be added to a Garage Coverage form by endorsement for coverage to apply? - correct answer ✅Collision. Chaz takes his girlfriend to an expensive restaurant for Valentine's Day. It is raining, so he decides to have the valet park his car, saving his girlfriend from getting wet. The valet is driving the car into the restaurant's parking garage, when he clips the side of the garage entrance with the front fender of Chaz's car. The garage wall needs to be repaired as well as the fender and headlight of Chaz's car. How would Part D of Chaz's Personal Automobile respond to this loss? - correct answer ✅It would cover the loss to Chaz's car because it is the insured automobile, but would not cover the damage to the garage.. Which of the following statements is TRUE regarding the coverage extension of the standard Businessowners policy for "Business Personal Property Temporarily in Portable Storage Units"? - correct answer ✅Coverage will not apply if the storage unit has been on the insured premises for longer than 90 days, even if the business personal property has only been stored there for less than 90 days. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Which of the following would be considered a Part D - Other Than Collision claim under a Personal Automobile claim? - correct answer ✅A load of bricks falling from an apartment building onto the car. The Section I Additional Coverage of the standard Businessowners policy provides coverage for "Debris Removal". Which of the following statements best describes the limit for this coverage? - correct answer ✅The total limit may be up to 25% of the policy limit for the loss payable with the deductible included, plus up to an additional $25,000 if the policy limits are exhausted An agent, insured or claimant has intentionally deceived an insurer for financial gain. Such an act is known as: - correct answer ✅Fraud Which of the following losses would be covered under a Commercial Property policy with the special cause of loss form attached? - correct answer ✅A fire that breaks out in an office building and causes damage to two of the offices.. If the Navigational Limits or Lay-Up period shown on the Declarations page of a standardized Yacht policy is breached because of something out of the control of the insured: - correct answer ✅The insurer must be notified within 10 days after the breach and any additional premium that is due must be paid. Which of the following is NOT eligible for a coverage under a Homeowners insurance policy? - correct answer ✅Owner-occupants of a 5 to 6-family dwelling Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ All of the following are correct statements regarding the limits of liability under Part A of a Personal Auto policy, EXCEPT: - correct answer ✅When the Part A limits are exhausted, any limits for Uninsured Motorists coverage can be used to pay the entire claim.. If a covered business is a limited liability company, the standard Businessowners policy provides coverage for all of the following "insureds", EXCEPT: - correct answer ✅Executive director.. The HO-3 form insures for direct physical loss to covered property involving collapse of a building caused by all of the following, EXCEPT: - correct answer ✅Settling. All of the following statements are TRUE if Builders' Risk coverage is written on a completed value basis, EXCEPT - correct answer ✅All premiums must be paid up front before construction can begin.. A non-waiver agreement allows the insurer to: - correct answer ✅Investigate a loss without implying that it is covered Which of the following sections of an Ocean Marine policy is very similar to the "Duties of the Insured" in other property policies? - correct answer ✅The Sue and Labor clause Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Coverage under a standard Personal Watercraft policy extends to all of the following, EXCEPT: - correct answer ✅The crew of the boat for medical payments Loss to insured property caused by self-propelled missiles is covered under which of the following perils of the Homeowners form? - correct answer ✅Aircraft. The importance of an "Insured or Witness Investigation" is that: - correct answer ✅Obtaining their statements is very important in determining who is liable Which of the following basic coverages are provided under a Standard Fire policy? - correct answer ✅Fire, lightning and removal.. All of the following statements regarding the Commercial Package Policy are correct, EXCEPT: - correct answer ✅Commercial Package Policies can include Ocean Marine and Aviation Insurance coverage. . Ellen's automobile is stolen. The theft is properly reported to the police and the insurance company. She rents a car for two months. Which of the following would apply for the rental car? - correct answer ✅After a waiting period of 48 hours, her policy will pay $20 per day up to a maximum of $600 The insured carries an unendorsed DP-3 dwelling policy on his home and personal contents. While traveling abroad someone broke into the home Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ and stole $200 in cash, a shotgun valued at $1,000, and other household items valued at $2,000. Damage caused by the burglars is $1,500. Assuming no deductible applies to their coverage how much would be paid? - correct answer ✅$1,500 If the disability for a worker in Texas continues for more than one week, weekly income benefits begin to accrue: - correct answer ✅On the 8th day after the disability began Which of the following is NOT an "alternative dispute resolution" (ADR) used to deal with coverage disputes in the claim settlement process? - correct answer ✅Litigation Mike purchased a policy several years ago to cover him for liability. Last year, Mike determined that the limits of his liability policy were not high enough to cover him adequately should a loss occur, so he purchases an excess liability policy to provide more coverage. Mike experiences a loss, and discovers that his underlying liability policy had expired before the loss, but his excess liability policy is still in effect. How will this loss be paid? - correct answer ✅It will be denied, due to nonconcurrency. Workers' compensation insurance premium rates are typically affected by each of the following factors, EXCEPT: - correct answer ✅The company's current profit or loss. An insured's boat is struck by another boat. He and his family are injured. His boat sinks because of the damage. An investigation determines that the Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Which of the following best describes an "insurance producer"? - correct answer ✅Someone who represents an insurance company in the soliciting and negotiation of insurance. When insurance is written on a Dwelling form, each of the following types of property would be insured under Coverage A, EXCEPT: - correct answer ✅A detached garage. The Garage Coverage form can be used to cover dealers that sell all of the following, EXCEPT: - correct answer ✅Jet skis. Ocean marine coverage for losses to the insured vessel caused by bursting boilers, latent defects in the vessel and negligence of the master or crew members are addressed by which of the following? - correct answer ✅The Inchmaree clause. The part of a standard workers' compensation policy that contains the cancellation procedures is: - correct answer ✅Part Six - Conditions The 1943 New York Standard Fire policy specifically excludes all of the following, EXCEPT: - correct answer ✅Manuscripts. The standard Personal Automobile policy provisions state that the insurance company has subrogation rights against any person permitted to use a covered auto, under all coverages, EXCEPT: - correct answer ✅Part D. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Max was injured on the job in Texas. Max has reached MMI but will have a permanent limp while walking that was due to the compensable injury. Which of the following terms as defined by the Texas Workers Compensation code best describes how Max's injury will be classified? - correct answer ✅Max's injury is now classified as an "impairment". All of the following is a function of the standard mortgage clause in a property insurance policy, EXCEPT: - correct answer ✅Guarantees that the mortgage payments will be made by an insurance policy, if the insured does not make the payments. . The insured has liability coverage with a limit of $300,000 per occurrence. She purchases a $1 million Personal Umbrella to extend and broaden her coverage. The Umbrella policy includes a $10,000 retained limit. The insured becomes liable for $800,000 in damages that are excluded by the underlying liability policy, but is covered by the Umbrella policy. How would this case likely be settled? - correct answer ✅The insured would pay $10,000 and the Umbrella policy would pay $790,000. Insurance adjusters have the "power to bind". Which of the following statements best describes what this means? - correct answer ✅The principal is bound to the decisions of the adjuster. Which of the following types of bonds guarantees that all project materials will be paid in full by the contractor upon completion of the project? - correct answer ✅Payment bond. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Which of the following is NOT a "duty of the insured" after a loss? - correct answer ✅To pay damages to any third-party claimant while waiting to be reimbursed by the insurer for the loss. All of the following are perils NOT typically covered by property cause of loss forms, EXCEPT: - correct answer ✅Hail What is the minimum limit for Coverage L of the Personal Liability Supplement that can be attached to a Dwelling Property policy? - correct answer ✅$100,000 The "Medical Payments" section of the standard Yacht policy will provide coverage for all of the following, EXCEPT: - correct answer ✅A scuba diving accident when diving from the insured boat.. Which of the following coverages would NOT be included in the liability section of the Businessowners policy? - correct answer ✅Professional liability. An insured owns a set of six drawing pens designed and used by Benjamin Franklin. Each pen is worth $1,000 alone, but the set is worth $12,000. One pen is destroyed by a covered peril. Under the pair or set clause the insurance company will pay a maximum of which of the following amounts? - correct answer ✅$7,000 Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Many stationary objects, such as bridges, tunnels and power lines fall within the nationwide marine definition because they are considered to be: - correct answer ✅Instrumentalities of transportation and communication. A claim is made on an excess liability policy. It is discovered during the claims investigation, that the underlying liability policy and the excess liability policy have different inception and expiration dates. The adjuster finds that the different dates has created a situation where the underlying policy was not in effect at the time of the occurrence, and therefore cannot trigger the excess liability policy to pay the claim. This situation is known as: - correct answer ✅Nonconcurrency. An "other insurance" clause is included in insurance policies to deal with the problem of: - correct answer ✅Overinsurance. Under the DP-3 special form, which of the following losses would NOT be covered? - correct answer ✅Damage to the dwelling that is caused by an infestation of mice. . Ellie's Engineering, Inc. has several warehouses and it is necessary for employees to transport different items between the warehouses, depending on what products are being manufactured at any given time. One day Bill, Karen, and Josh were required to load several containers of an explosive chemical onto a truck to transport it across town to another warehouse. Karen knew that the chemical must be handled carefully to prevent it from exploding, but she did not refuse to move the containers nor did she indicate to Bill and Josh that the chemical was dangerous. After loading the containers, Josh is moving the truck out of the loading zone and negligently Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ backs it into a brick wall, causing an explosion, injuring all three workers. Bill died from the injuries several days after the accident. Which of the following statements most accurately describes the common law defense(s) that Ellie's Engineering might use to defend themselves against a lawsuit filed by Karen? - correct answer ✅The assumption of risk and the fellow worker doctrine only.. The purpose of the Expediting Expenses coverage of a standard Equipment Breakdown policy is: - correct answer ✅To pay for the extra expense of having equipment repairs performed faster to get the insured back in business quickly. Which of the following would be excluded under Part A of the Personal Auto policy? - correct answer ✅A person transports people from the airport to nearby hotels for a fee. . 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 The type of auto body frame that is most often used in today's automobile and is a single molded unit, is known as: - correct answer ✅A unibody frame. A contractor in need of a bid bond to obtain a contract is an example of a(n): - correct answer ✅Principal. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ When loss settlement under a policy is the "agreed value", which of the following is true? - correct answer ✅The insurer will pay the value that was agreed upon and scheduled in the policy. The "control of property" condition of the Commercial Property policy: - correct answer ✅States that a negligent act of someone beyond the insured's direction or control will not affect the coverage.. The insured has liability coverage with a limit of $300,000 per occurrence. She purchases a $1 million Personal Umbrella policy to extend and broaden her coverage. The Umbrella policy includes a $10,000 retained limit. The insured becomes liable for $800,000 in damages that are excluded by the underlying liability policy, but is covered by the Umbrella policy. How would this claim likely be settled? - correct answer ✅The insured would pay $10,000 and the Umbrella policy would pay $790,000. The aircraft physical damage (hull) deductible is normally expressed as: - correct answer ✅A percentage of the value of the aircraft. Ally's insurance agency has contracted with Indemnify Insurance to sell only those insurance products offered by Indemnify. Ally's is utilizing which of the following types of insurance marketing and distribution systems? - correct answer ✅Exclusive agency system. In which of the following situations would trees, shrubs, and other plants be covered by the Homeowners additional coverages? - correct answer ✅The Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ payment for his medical bills, pain and suffering. What defense against negligence would the amusement park most likely use to deny this claim? - correct answer ✅Assumption of risk The type of claims investigation that looks at the possibility of a third-party being responsible for the loss is known as: - correct answer ✅A subrogation investigation. The Commercial Property condition known as "Concealment, Misrepresentation, or Fraud" calls for the policy: - correct answer ✅To be voided??? Which of the following Equipment Breakdown coverages applies to direct damage to covered property located at a premises described in the Declarations? - correct answer ✅Property damage coverage. Which of the following lost or damaged property is NOT covered when the Actual Cash Value endorsement is attached to an Equipment Breakdown policy? - correct answer ✅Property that has reached obsolescence. The Part B - Medical Payments coverage under a standard Personal Auto policy will cover the insured if he/she is injured while a passenger on a: - correct answer ✅Bus. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Garagekeeper's liability coverage excludes all of the following losses, EXCEPT: - correct answer ✅Loss to a high-value audio system permanently installed in a covered auto. Sally Roe's vehicle is rear-ended by John Doe. Sally and John are good friends. Sally tells John not to worry about the damage. She says she has insurance and will tell her insurance company to pay for the damage. She will waive her subrogation right so that John won't have to pay anything. Her insurer will: - correct answer ✅Proceed with subrogation against John Doe and will not honor the waiver.. All of the following are a "cause of loss" form, EXCEPT: - correct answer ✅Comprehensive. For a workers' compensation claim to be compensable, the injury suffered by the employee must meet all of the following criteria, EXCEPT: - correct answer ✅Must have occurred on the employer's premises. Part One of the NCCI standard workers' compensation policy specifies the: - correct answer ✅Statutory provisions of the policy. Risk is best defined as: - correct answer ✅An uncertainty of loss. The insured has his home insured on a HO-2 policy. Lightning has struck the home and causes a fire. The insured takes as much personal property out of the house as possible while waiting for the fire department to arrive and Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ extinguish the fire. The insured and some of his neighbors damage some of the property while moving it to safety in the back of a pickup truck not owned by the insured. What additional coverage would cover this damage to the insured's personal property? - correct answer ✅Property Removed. When would the Personal Auto policy respond to a loss with an all-terrain three-wheeled vehicle? - correct answer ✅When used in an emergency situation. Which of the following is a true statement regarding the "law of large numbers"? - correct answer ✅As the number of insured units increases, the ability to predict losses increases. A surety bond is: - correct answer ✅A form of credit. All of the following would be considered an "insured" on a Homeowners policy, EXCEPT: - correct answer ✅A non-related tenant living in the insured residence.. In order to qualify for a surety bond there are times the principal must have another party sign the agreement. This party agrees to reimburse the surety if the principal defaults. This party is known as: - correct answer ✅An indemnitor. Henrietta has purchased a Personal Automobile policy and she sees the following under Part A:$25,000/$50,000/$30,000Which of the following Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Katherine lives in Texas. A third-party claim has been filed against her insurance policy by Joe, for an accident in which Katherine was liable. Joe's attorney contacts Katherine's insurance company and makes an initial offer to settle the claim. The insurance company must notify Katherine of the offer, in writing: - correct answer ✅Not later than the 10th day after the date the initial offer was made. Texas insurance licensees must complete _____ hours of continuing education each reporting period. - correct answer ✅24 A home is insured under an HO-3 policy. One of the "other structures" on the same property is used by the insured for his business. The building burns in a fire. It would: - correct answer ✅Not be covered because buildings used for business purposes are excluded.. What is the main purpose of government regulation of the insurance industry? - correct answer ✅To protect the insurance consuming public. All of the following are duties of the insured after a loss, EXCEPT: - correct answer ✅To provide the insurer with the amount they expect to be paid for the claim submitted. On a standard BOP policy, all of the following items have a limitation on the coverage amount if the cause of loss is theft, EXCEPT: - correct answer ✅Computers. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Sally's home is covered under an HO-3 policy. Coverage F of that policy will pay medical expenses for which of the following? - correct answer ✅Anyone who is invited onto Sally's property and is injured while there. James owns a sedan, a truck, and an SUV. He carries Part C -- Uninsured Motorist Coverage on his SUV, but does not carry it on his sedan or truck. James' son is driving the truck one afternoon and accidentally strikes James who is driving the SUV, causing James to sustain bodily injury. How will Part C apply in this situation? - correct answer ✅No coverage will apply for James' bodily injury.. Which of the following would NOT be included in an adjuster's initial / field / preliminary report? - correct answer ✅The results of mediation. An insurance company is given a C++ rating by A.M. Best. This means: - correct answer ✅The financial health of the insurance company is good.. Which of the following is one of the duties of the insured as specified in a Commercial Inland Marine policy? - correct answer ✅Submit to an examination under oath if the insurer requests it. If the insured purchases a new aircraft to replace a scheduled aircraft, there is automatic coverage provided the insurance company is notified within ______ days of the purchase and premium payment is made. - correct answer ✅30 Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ The giving up of a known right is called: - correct answer ✅waiver Which of the following is the best definition of "fire"? - correct answer ✅Combustion, accompanied by visible light. Which of the following is not an "additional coverage" under Homeowners Liability -- Section II coverage? - correct answer ✅Damage to "property owned by the insured".. Which coverage of a Homeowners policy would pay for damage to a neighbor's window caused by the insured? - correct answer ✅Coverage E On the way to Europe, heavy seas place a cargo ship in danger of sinking. The crew decides that if they dispose of the heavy equipment they are hauling the ship will not sink. They toss overboard 10 tractors owned by John Deere. The cartons of tissues owned by Kleenex Corporation are safe as is the whipped marshmallow cream being shipped for Kraft Foods. When they get to Europe, Kleenex and Kraft are asked to share in the loss that John Deere sustained. This is an example of: - correct answer ✅General Average Clause. Brian owns a home that is covered by a DP-3 form. He rents this home to Taylor. Joe, the neighbor who lives next door to Brian's rental home, has been cooking methamphetamine for quite some time and selling it out of his house. One afternoon, Joe's "meth lab" exploded, spreading dangerous chemical to the houses around his. It also caused a fire that rendered the house unstable until it can be demolished. The civil authorities in the area Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Spencer is covered under a standard Personal Automobile policy with a policy inception date of October 15th. Additionally, the policy will expire on October 15th of the current year. Spencer contacts his agent on October 7th and asks to have an new endorsement added to his policy. The agent agrees, adds the coverage the same day, and informs Spencer that there will be an additional premium of $20 per month charged. When will the adjustment of premium be effective for Spencer? - correct answer ✅October 7th. Which of the following claims would NOT be covered under Section II -- Liability of a Homeowners policy? - correct answer ✅The named insured files a claim for damage to his house caused by his dog. The standard Businessowners policy extension of coverage for "Outdoor Property" provides ________ of coverage for any one tree, shrub, or plant that has been destroyed due to a covered cause of loss. - correct answer ✅$1000 Which of the following types of coverages are included in the standardized Businessowners policy? - correct answer ✅Coverage for business personal property. An adjuster has uncovered some discrepancies in matters pertaining to a claim, and is unable to contact the insured to discuss these matters. What should the adjuster do in this situation? - correct answer ✅Send a reservation of rights letter to the insured's last known address. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Which of the following situations would NOT be considered an unfair claim settlement practice according to the NAIC Model Act? - correct answer ✅Indemnify Insurance pays thousands of claims per year, but on two of those claims they failed to accept or deny the claim within the time frame required by state law. Morton loses control of his car and hits Jordan's car that was parked legally along the street where Morton was driving. The damage to Jordan's car is covered by which coverage of Morton's personal automobile policy? - correct answer ✅Part A -- Liability Which of the following contractors would be eligible for a Businessowners policy? - correct answer ✅A carpenter doing all of his own work building kitchen cabinets in people's homes and earns $75,000 per year. An insured who had a $500,000 primary liability policy purchased a $1 million Umbrella liability policy with a $2,000 self-insured retention limit. Later, the insured allowed the required underlying primary policy with a limit of $500,000 to expire. A week after that, the insured became liable for a $100,000 loss that is not excluded by the provisions of either the primary underlying liability policy or the Umbrella policy. How will this loss likely be settled? - correct answer ✅The insured will be liable for the full $100,000 loss. An insured has a $2 million limit of insurance under a Personal Umbrella policy with a $2,000 self-insured retention limit. The insured is sued for $1 million in personal injury damages and $1.5 million in property damages arising from the same occurrence. The insured's underlying liability policies Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ exclude coverage in this case, but the claim is covered under the Umbrella policy. In this case, the umbrella policy will pay: - correct answer ✅$1,998,000 of the damages. At which step in the adjusting process does the adjuster determine "who" or "what" is insured by the policy under which the claim was submitted? - correct answer ✅Verification of coverage. Which of the following statements is TRUE regarding an "examination under oath"? - correct answer ✅An EUO will only be requested by an insurer if they have reason to believe an insured has not been truthful in their account of the circumstances of the loss. 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 In insurance terms, the phrase "severability of insurance" means: - correct answer ✅The insurance applies separately to each insured. Which of the garage policy coverages will pay for physical damage to a garage customer's auto regardless of legal liability? - correct answer ✅Garagekeepers direct primary coverage. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Which of the following protects against legal liability for loss or damage to baggage? - correct answer ✅Cargo Liability coverage. Which of the following coverages is included as "no-fault" coverage on the standardized Personal Auto policy? - correct answer ✅Medical Payments and Physical Damage. Which of the following types of insurance companies is a non-profit organization? - correct answer ✅A fraternal benefit society In order for a contract to be binding in a court of law, it must be designed for: - correct answer ✅Legal purposes. Which of the following additional coverages provided by the Building and Personal Property coverage form applies only to buildings to which the replacement cost optional coverage applies? - correct answer ✅Increased Cost of Construction. Which of the following statements is TRUE regarding the DP-2 cause of loss form? - correct answer ✅It automatically includes the EC perils, V&MM coverage, and the broad form perils.. If an insured is covered under an HO-2 policy, damage caused by wind to his/her personal property would be covered if: - correct answer ✅The wind created an opening in the structure, allowing the wind to damage the personal property inside. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Under Ben Green's personal auto policy, each of the following would qualify as a "family member" EXCEPT: - correct answer ✅Susan Green, Ben's wife. Susan maintains a separate residence although she and Ben are not divorced. All of the following statements are true regarding the HO-1 form, EXCEPT: - correct answer ✅It settles losses on an actual cash value basis unless endorsed. A Texas employer who chooses NOT to provide workers' compensation coverage:I. Loses civil immunity.II. May be sued for damages when an employee is injured in the of employment.III. Will have to pay a fee of $500. - correct answer ✅I and II only Which of the following would NOT be excluded under the Commercial Property basic cause of loss form? - correct answer ✅A fire caused by earth movement. Which of the following losses would be covered by Part D of a standard Personal Auto policy providing both "Other Than Collision" (Comprehensive) and "Collision" coverage? - correct answer ✅A front tire blows out in a high- speed head-on collision, which also causes extensive damage to the vehicle. Which of the following would be covered under Part Two - Employer's Liability of a standard workers' compensation policy? - correct answer ✅The Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ spouse of an injured employee sues the employer for loss of care and services (consortium).. What coverage is provided under the BOP for a steam boiler explosion? - correct answer ✅Steam boiler explosions are excluded unless the damage is a result of an explosion of gases or fuels within the object or flues. Which of the following is NOT covered on the Commercial Property basic cause of loss form? - correct answer ✅Pollution clean up Under which circumstances would it be legal for an insurer to charge one insured more than another insured for the same coverage? - correct answer ✅When the insured is statistically more likely to experience a loss. Which of the following relieves the financial burden on the claimant by making certain payments to the claimant even before the claim is negotiated? - correct answer ✅Advance payment. A type of insurance that permits an insured to collect from his/her own insurance company, without proving the negligence of a third-party, is known as: - correct answer ✅No-fault. The insured carries a yacht policy and is pulling a water skier. The skier is a family member and is injured. What coverage might apply to this accident? - correct answer ✅Medical payments coverage Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ A loss reserving method that establishes aggregate reserves for all claims for a single line of insurance is known as: - correct answer ✅Loss ratio method. The medical payments coverage of an Aircraft Liability policy provided coverage for bodily injury expenses incurred by accident: - correct answer ✅Within one year of the accident. Under a standard Equipment Breakdown policy, the loss settlement is: - correct answer ✅On a replacement cost coverage, if the repair or replacement, is made within 24 months of the loss. Which Garage Coverage form symbol is used to indicate that the covered automobile(s) is/are subject to a compulsory "no-fault" law? - correct answer ✅Symbol 25. All of the following statements are true regarding state Guaranty Associations, EXCEPT: - correct answer ✅The fund assists insurers in gaining new insurance business by allowing them to advertise their membership in the Guaranty Association. Which of the following types of property can NOT be covered under a Commercial Inland Marine form? - correct answer ✅Property being manufactured and shipped to Europe for sale. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Which of the following statements concerning the Earthquake and Volcanic Eruption Endorsement to a Commercial Property policy is NOT TRUE? - correct answer ✅If the policy expires before the end of the 168-hour period, coverage will not apply to the time period following the expiration date of the policy. Loss settlement for personal property that is covered under Coverage C of a standard unendorsed ISO Homeowners policy is on a(n) - correct answer ✅Actual cash value basis. All the following are covered under Section II of a Homeowners policy, EXCEPT: - correct answer ✅Intentional bodily injury to others by the insured.. 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% Molly is a staff adjuster who works for Indemnify Insurance. The evidence in the investigation has caused Molly to suspect that the claim is fraudulent. She is told to put the claim file in order and transfer it Meg, an adjuster who specializes in fraud. Which of the following reports should Molly prepare and send to Meg along with the claim file? - correct answer ✅A summarized report. All of the following are included in the Businessowners policy coverage territory, EXCEPT: - correct answer ✅Mexico. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ All of the following statements are TRUE regarding Section II - Liability of the Garage Coverage form, EXCEPT: - correct answer ✅Provides coverage when an employee causes damage to a customer's vehicle. The "period of restoration" for the Extra Expense coverage included on the Business Income form is: - correct answer ✅Immediately following the direct physical damage.. Willie's Widgets has been earning a large portion of their market share for 10 years. During Willie's 11th year in business, Wynonna's Widgets opens and her superior marketing practices leaves Willie unable to continue in business. Which of the following types of risk caused Willie's loss? - correct answer ✅Dynamic Risk A gas line explodes outside of Mindy's Mending Shop, ruining her new landscaping. Which coverage extension of Mindy's Commercial Property policy would cover the cost of replacing the damaged trees and shrubs? - correct answer ✅"Outdoor Property". Mrs. Vincent is covered under a standard PAP that covers her 2016 Ford SUV. She carries liability and full physical damage coverage. Her neighbor owns a 2002 Chevrolet pick-up truck with liability coverage only. Mrs. Vincent borrows the truck to pick up lawn furniture, parks the truck at the store, and leaves the keys in the ignition. The truck is stolen and later found wrecked. Which of the following would apply? - correct answer ✅The loss is covered under Mrs. Vincent's "other than collision" coverage. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Which of the following describes a moral hazard? - correct answer ✅An arsonist applying for property insurance. Darla has her business covered by a standard Businessowners Policy that includes the "Personal Effects" coverage extension. Catherine, one of Darla's employees, has brought her brief case to work one day with her purse, make-up bag, tablet, and laptop computer inside. A fire breaks out in Darla's building and all of the contents of Catherine's briefcase, worth $2,000, are destroyed. How much will Darla's BOP pay for Catherine's lost "personal effects"? - correct answer ✅$2,000 A claim is being litigated in court by Michael on behalf of Janet who was physically injured by a negligent party. Michael asks Janet to show the court her disfiguring scars. Which of the following types of evidence is Janet presenting to the court? - correct answer ✅Real evidence. The four main sections of a Standard Fire Policy are: - correct answer ✅Declarations, Insuring Agreement, Conditions, and Exclusions. For the insured dwelling and other structures, the DP-3 provides: - correct answer ✅Open peril coverage. Which of the following statements is TRUE of Ocean Marine insurance? - correct answer ✅Ocean marine insurance policy forms are not standardized. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ All of the following statements are TRUE regarding the "Equipment Breakdown" coverage extension of the standard Businessowners policy, EXCEPT: - correct answer ✅The damage can be caused by a gradual wear and tear of parts within the equipment. Amelia has suffered a covered collision loss to her vehicle. The insurer requires that her vehicle be repaired at a repair shop of the insurer's choice. The insurer: - correct answer ✅Is guilty of an unfair claims practice act.. All of the following are exclusions under the Standard Fire policy, EXCEPT: - correct answer ✅Fire damage that is the result of a riot.. One of the Unfair Claim Settlement Practices is "failing to affirm or deny coverage of claims within a reasonable time after having completed its investigation related to such claim or claims". How is the length of time that is considered "reasonable" decided? - correct answer ✅The state legislatures set the reasonable time period by statute. All of the following are reasons an IME may be requested by a workers' compensation insurer, EXCEPT: - correct answer ✅When the injured worker's primary care provider charges higher rates than the insurer would like to pay. An insured has reported a claim late that occurred over one year ago and now seeks defense representation and coverage under his automobile policy. What should the adjuster do? - correct answer ✅Issue a reservation of rights letter to the insured. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ In ocean marine insurance, each of the following is true about the term "general average", EXCEPT - correct answer ✅Only the party having an interest in the lost property suffers a loss. All of the following statements are TRUE regarding automobile "no-fault" laws, EXCEPT: - correct answer ✅Medical payments and physical damage claims are paid by the state assigned risk fund without determining fault to any party in the accident. On Monday afternoon, Carissa's boss requested that she finish updating the company website by Tuesday morning. Carissa did not want to stay at the office late into the evening so she took her work home to complete it there. On the way home, Carissa remembers that she left an external hard drive back at the office. This hard drive contained files that she needed to complete the website updates so she turns her car around and heads back to the office to retrieve it. Two blocks away from her office, another car runs a stop light and smashes into Carissa's car, severely injuring her. Which of the following statements would be TRUE in how Carissa would be handled by her employer's workers compensation coverage? - correct answer ✅Carissa's injuries are not compensable as she was commuting to work and coverage does not apply in that case.. Paolo has an expensive boat and is purchasing insurance to cover it. He is discussing the deductible and his agent suggests a deductible amount that Paolo could pay if the Hull of his boat was severely damaged. Which of the following types of deductibles would be best for Paolo? - correct answer ✅A percentage deductible. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Umbrella policy with a $2,000,000 "aggregate limit" and a $300,000 self- insured retention (SIR). The hardware store has 7 bodily injury claims during the policy period, with no single occurrence totaling more than $2,000,000, but the total of the 7 occurrences is $8,000,000. How will this claim be paid? - correct answer ✅The CGL policy will pay $4,000,000, the Umbrella policy will pay $2,000,000, leaving $2,000,000 of the claim uninsured.. A Texas adjuster may be subjected to a criminal penalty for all of the following, EXCEPT: - correct answer ✅Not paying court mandated child support. The maximum amount a liability policy will pay for all occurrences taking place during the policy period, is known as: - correct answer ✅The aggregate limit. Gino owns a pizza restaurant and has hired drivers to deliver pizzas to customer's homes in their own vehicles. His restaurant carries a standard Businessowners policy and a Commercial Automobile policy. One evening, one of Gino's hired drivers has an accident and injures other people. Those who were injured in the accident sue Gino's Pizza for damages. Which of the following statements best indicates how the claim will be handled? - correct answer ✅The Commercial Automobile policy will respond to the claim. Under a surety bond, the "principal" is the party that: - correct answer ✅Agrees to fulfill an obligation. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ The perils most frequently covered by a Difference in Conditions policy are: - correct answer ✅Earthquake and flood. To prove negligence, the "proximate" or "legal cause" of an injury or loss, includes what important feature? - correct answer ✅An unbroken chain of events lead to the bodily injury or property damage.. The liberalization clause of a Businessowners policy automatically applies favorable expansions of coverage, for which a premium is not charged if the changes are made during the policy period or within ______ prior to the effective date of the policy. - correct answer ✅45 days Uninsured Motorist (UM) coverage claims are: - correct answer ✅First-party claims.. The Coverage C - Uninsured Motorists coverage of a standard, unendorsed Personal Automobile policy applies to all of the following, EXCEPT: - correct answer ✅Property damage sustained by the insured vehicle by an uninsured vehicle.. Which of the following statements is TRUE regarding controlled commercial inland marine forms? - correct answer ✅These forms are usually issued according to published rules and rates. An insured does not carry enough insurance to comply with the coinsurance clause of his Homeowners policy. If this insured would have a loss to his Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ covered home, how will the insurer settle the loss? - correct answer ✅The insurer will either settle the loss at ACV, or pay the proportion of the cost to repair or replace the part of the building that was damaged, based on the amount of insurance the insured carried. The Insurance Commissioner/Director/Superintendent of a given state would refer to an insurance company formed under the laws of a different state as: - correct answer ✅A foreign insurer. Fred is an adjuster with Indemnify Insurance, Inc. He is authorized by the company to pay insureds or claimants up to $75,000 on Homeowners claims and up to $40,000 on health insurance claims. This is known as: - correct answer ✅Draft authority. Personal Excess Liability policies provide coverage for all of the following, EXCEPT: - correct answer ✅Damage to an insured's property due to fire. Which one of the following situations would be considered an example of absolute (strict) liability? - correct answer ✅Wayne keeps a large police- trained dog in his jewelry store as a deterrent to burglars. During the time the store is open for business, the dog is confined to a back room. One day, the dog escaped, ran into the showroom and bit a customer. The "Medical Expense" coverage of Section II of the Businessowners policy will pay the reasonable expenses for first aid, medical services, and funeral services, within: - correct answer ✅One year from the date of the accident. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ An "uninsured motor vehicle" under a personal auto policy does not include: - correct answer ✅An abandoned car used as a residence. With regard to workers' compensation coverage, a "competitive" state is: - correct answer ✅One where both private and government insurers write workers' compensation policies that compete against one another. Which of the following is a coverage that may be selected on an Equipment Breakdown form by showing a limit of liability amount next to the coverage? - correct answer ✅Brands and labels. Paul had his roof inspected by a local contractor, after a strong storm with high winds and hail, passed through his neighborhood. The contractor found damage to the roof and gave Paul an estimate of $9,850 to replace it. Paul filed a claim with his insurance company, and the company promptly sent an adjuster to inspect the roof. The adjuster's estimate to repair the roof came to $9,650. How will the adjuster likely attempt to settle this claim? - correct answer ✅Negotiate the claim in an attempt to persuade Paul to agree to the lesser amount. Which of the following would be covered under any of the Homeowners forms? - correct answer ✅Explosion of a hot water heater that damages carpeting. Which of the following is a covered basic form peril of the Homeowners policies? - correct answer ✅Volcanic Eruption Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ The Texas Insurance Commissioner has suspended Marty's insurance license and informed him that the license will be suspended for the maximum amount of time allowed by law. The suspension became effective on April 19th, 2020. Which of the following is the date in which Marty's license will no longer be suspended? - correct answer ✅April 19th, 2021 All of the following statements are TRUE regarding the perils of the Homeowners forms, EXCEPT - correct answer ✅Fire or lightning is a named peril covering the buildings and other structures under an HO-4 form.. Requiring a claimant to travel a long distance to have his or her automobile repaired violates which of the following standards for prompt investigations and fair and equitable settlements? - correct answer ✅Unreasonable Travel The authority the general public believes an insurance professional possesses based on their actions is known as: - correct answer ✅Apparent authority. The "Pollution Clean-Up and Removal" coverage under the Building and Personal Property coverage form of a CPP: - correct answer ✅Is an additional coverage.. A contractor's bid bond is used: - correct answer ✅As a promise from the surety that if the principal is awarded the contract, the principal will enter into the contract for the bid amount and provide required performance bonds. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ When the Personal Liability Supplement is purchased as a monoline policy, all of the following are required conditions, EXCEPT: - correct answer ✅Bankruptcy Which of the following statements is TRUE regarding the Personal Effects Floater? - correct answer ✅It can be purchased either on a permanent basis for frequent travelers or for a single trip. While inspecting a recently insured building, an insurance company representative notices a loose handrail on a stairway. When writing to the agent, the company official would refer to this situation as which of the following? - correct answer ✅A hazard If an insurer in Texas has received a large number of complaints of unfair claim settlement practices, the Department may subject the insurer to closer supervision. As part of this closer supervision, the Department can request that the insurer submit periodic reports containing claims information for: - correct answer ✅The preceding 12 months or from the date of the insurer's last periodic report, whichever is shorter. Under the DP-3 special form, which of the following would be covered? - correct answer ✅Theft of outside lighting attached to the dwelling. An insured has taken an inventory of his merchandise and discovers a substantial shortage of valuable stock. He submits a claim to his insurance carrier that provides his coverage under a Businessowners Policy. What Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ What does the term "comparative negligence" refer to? - correct answer ✅The percentage of fault is shared by each driver in an accident in which both contribute to causing the accident. Which of the following statements is TRUE regarding 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. All of the following are examples of forms used to cover cargo in Ocean Marine insurance, EXCEPT: - correct answer ✅Load form. If an employee is eligible to receive impairment income benefits, what is payment based on? - correct answer ✅70% of the employee's average weekly wage. An insured has a $1,000 insurance claim and is able to prove his loss and its value. The insurer's adjuster offers $500, knowing that the claimant would probably take the offer to avoid incurring the cost of an attorney to sue for the actual amount of the claim. The offer made by the adjuster is considered - correct answer ✅To be an unfair claims settlement practice. What is generally excluded on the Condominium Commercial Unit-Owners form? - correct answer ✅Building coverage.. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Marcus has two Commercial Property policies covering his warehouse. Policy A is the primary policy and has a $200,000 limit, and Policy B is an excess policy with a $100,000 limit. After a fire causes $140,000 damage to his warehouse, how will each of Marcus' policies respond (disregarding any deductible)? - correct answer ✅Policy A will pay $93,333 and Policy B will pay $46,667.. Heather's house is fully insured with a DP-3 with a limit of $85,000. One day, the house is struck by lightning, and despite the fire department's efforts, burns to the ground. She still had a balance of $20,000 left on her mortgage at the time of the fire. What is the maximum indemnification that would go to Heather, the fire department, and her mortgage lender respectively? - correct answer ✅$65,000; $500; $20,000 The penalty for failure to satisfy a coinsurance requirement of a property insurance policy is: - correct answer ✅Only a portion of a partial loss will be paid.. Which of the following is true regarding pure and speculative risks? - correct answer ✅With pure risk there is only the possibility of loss. Which "conditions" form in a complete Commercial Property policy specifies how a disagreement on the value of damaged property is handled? - correct answer ✅The Building and Personal Property Conditions form. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+ The Section II - Additional Coverages of Homeowners policies, damage to the property of others (whether or not in the insured's custody and regardless of fault) is covered up to: - correct answer ✅$1,000 per occurrence Which of the following statements is TRUE regarding the DP-3 special form? - correct answer ✅It provides open peril coverage on the structure and named peril coverage on the personal property. "Experience rating" provides employers with the incentive to: - correct answer ✅Prioritize safety and control hazards in the workplace. 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. Mark is injured at work in a state that provides a TTD benefit at 66 2/3%, the state minimum is $40 and the state maximum is $540. The waiting period is 3 days and the retroactive period is 15 days. Which of the following is Mark's TTD benefit if he earns $20 per hour and usually works a 40-hour week. Mark is injured on July 14th and does not return to work until September 3rd. Which of the following is the amount of TTD benefit he would have received? - correct answer ✅$3,809.50. An independent adjuster acts on behalf of his or her principal. Which of the following is the principal for an independent adjuster? - correct answer ✅The insurer. Texas all lines adjuster exam Questions and Answers Explained (Latest 2023/2024) GRADED A+