Pubic Adjuster Exam D
The insured has suffered a severe storm and some of his trees, shrubs, and plants are heavily damaged by the wind. How much coverage could the insured expect to receive for his claim under his DP-3 Dwelling policy?
$0
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:
$1,000 per occurrence.
The insured has suffered roof damage as a result of a tornado. He makes temporary repairs until permanent repairs can be made. He spends $1,500 for this work. How much, if any amount, will the DP-2 Dwelling policy pay on the repairs?
$1,500
Under the additional coverages of the standardized Businessowners policy, how much is the limit for "Pollutant Clean-Up and Removal" if caused by a covered loss?
$10,000 in any 12-month period
The insured owns a one-family dwelling with a detached garage. The dwelling is insured for $200,000. How much coverage applies to the detached garage?
$20,000
After a hearing the Commissioner has determined that a licensee has engaged in an unfair act or practice. The person knew or should have known that they were in violation of insurance law. The Commissioner may fine that person ______ for each act or violation.
$5,000.
A coverage extension included on the Building and Personal Property coverage form provides coverage for business personal property temporarily stored in a detached trailer within 100 feet of the insured building for:
A limit of $10,000 unless higher limits are purchased
All of the following are listed in the common declarations of a Commercial Package policy (CPP), EXCEPT:
A list of perils insured against
Billy has his commercial interests covered with a Commercial Package policy. He would like to modify one of his coverage parts. This change will be made by:
Adding an endorsement to the coverage part he would like to change
Billy has his commercial interests covered with a Commercial Package policy. He would like to modify one of his coverage parts. This change will be made by:
Adding an endorsement to the coverage part he would like to change.
Requirements that truckers be financially responsible for cargo they carry are imposed by:
Both state and federal governments
Section I of the Businessowners policy places limitations on coverage for certain losses if they are not caused by a specified cause of loss. All of the following are specified causes of loss under the policy, EXCEPT:
Building glass breakage
Coverage E -- Personal Liability of the standard Homeowners policies covers the insured for all of the following, EXCEPT:
Business activities
Which of the following is NOT a common type of wiring used to in residential construction?
Copper conduit
Which of the following statements is TRUE regarding the "debris removal" coverage of the Dwelling forms?
Coverage A and Coverage B both include an amount for debris removal
Which of the following would cover "unattached structures" under a Homeowners policy?
Coverage B
Which of the following coverages of a standard Equipment Breakdown policy pays for the extra costs that are incurred to make temporary repairs and any extra costs to have the permanent repairs completed faster?
Expediting expense coverage
A business covered by a standard Businessowners policy is shut down due to the acts of a civil authority. Which of the following additional coverages would NOT be subject to a waiting period before coverage would apply?
Extra Expense
Dana lives in a state that has passed a valued policy law (VPL). This means that all insurers issuing policies in the state must pay the ______ of the policy in the event of a total loss.
Full agreed value
Under a standard HO-3, the limit for Coverage C -- Personal Property for a one or two-family dwelling:
Is set at 50% of Coverage A
All of the following items are given a "special limit of liability" under Coverage C of the Homeowners policies, EXCEPT:
Motorized land vehicles
If the insured, covered under a Homeowners policy, suffers the loss of an article that is part of a pair or set. All of the following are options for the insurer to settle the loss, EXCEPT:
Pay for the replacement cost of the entire pair or set
Which of the following statements is TRUE regarding Coverage F - Medical Payments to Others on the Homeowners policies?
Pays the medical expenses of others without regard to whether or not the insured was negligent
Which of the following is NOT covered on the Commercial Property basic cause of loss form?
Pollution clean up
Many areas of concrete in, and around, a structure can be damaged when a structure burns. All of the following are acceptable methods of restoring, replacing, or repairing concrete, EXCEPT:
Re-pouring new concrete over the damaged concrete
All of the following are the effect of the suspension or revocation of a public adjuster's license except:
Serve a jail sentence of up to 60 days in a court designated detention center.
Which of the following is NOT covered under the basic cause of loss form of a Commercial Property policy?
Smoke from industrial operations
Which of the following statements is TRUE concerning the Businessowners policy?
The BOP is a type of package policy that prepackages a group of coverage desirable to small businesses. .
In which part of an insurance contract would you expect to find a description of the duties and obligations of the insured?
The Conditions
The Building & Personal Property Coverage form of the Commercial Property program includes some optional coverages. Which of the following is the optional coverage that changes the standard valuation condition of the form, but keeps the coinsurance provision in place?
The Replacement Cost Valuation optional coverage
An insurance contract is considered to be an aleatory contract. All of the following are characteristics of an aleatory contract, EXCEPT:
The contract allows the insured to receive a return in claims payments that is nearly equal to the amount paid in premium
An insured is covered under an HO-3 form. If the insured hits his own house and also damages the garage and the attached fence with his vehicle, which of the damages would be covered?
The damage to the house, garage and the fence would all be covered
Carol is covered under a Commercial Property policy with an Earthquake & Volcanic Eruption -- Sprinkler Leakage Only Endorsement attached. Which of the following statements is correct regarding Carol's deductible under the endorsement?
The flat dollar deductible for fire applies
Which of the following would be covered under a Builders' Risk form?
The foundation of the building under construction
The insured is covered under an HO-6 form. The Coverage A limit is $500,000. The insured also owns a separate three-car garage adjacent to the condominium building worth $100,000. Which of the following statements is true regarding coverage for the garage?
The garage is covered as part of the $500,000 Coverage A limit
In which of the following situations would trees, shrubs, and other plants be covered by the Homeowners additional coverages?
The insured's fruit trees are destroyed when an ember from a nearby brush fire lands on them and burns them
Which of the following would be covered by Section I of the Businessowners policy?
The seizure of the insured's building by the civil authorities in order to stop the spread of fire
The "additional coverages" of the Homeowners forms pay for all of the following losses, EXCEPT:
The sudden cracking of a hot water heating system within the insured dwelling.
Since the parties to an insurance policy rely on the honesty of the other, an insurance contract is considered to be based on:
Utmost good faith
Equipment Breakdown coverage does not apply to which of the following losses?
Vandals have destroyed a boiler
Under a Businessowners policy, the "Hired and Nonowned Auto Liability" endorsement would cover:
Vehicles borrowed by the insured
An insured has contacted a public adjuster for services. They have agreed on the services to be rendered and a fee. What is not considered part of the agreement?
Verbal statements
Which of the following statements is NOT TRUE of the Builders' Risk coverage form?
Which of the following statements is NOT TRUE of the Builders' Risk coverage form?
