texas all lines

billy jean bought a painting for $2000 and insured it for that amount the painter died and the worth of the painting doubled there is a windstorm that tears an opening in the roof and damages the painting, it cost $800 to repair how much will her insurance pay her

$800 the Repair cost

Dana is an adjuster trainee working under the supervision of Bruce a long time independant adjust how long may Dana work as a trainee before she must obtain an adjusters license

1 year

RJ insures, Rjs small engine repair shop under a building and personal property coverage form with limits of 100,000 on the building and 50,000 on business personal property a fire causes 10,000 in damage to the buidling and 10,000 in losses to the contents. RJ also has to pay 1,000 for removal of debris if the policy has the deductible of 250 what is the maximum he will recieve from his insurance company

20,750

licesneses holding any combination of licenses for lah, pc, mga, lh counsolurs and adjuskers of all types including publich adjusters, must recieve credit for how many hours in each 2 year renewal cycle

24

Your insurance has a comercail general liability policy CGL with limits of 300,000 each occurance 500,000 general agrigate and 10,000 medical expense a customer slipped and broke her hip and suffered head injuries on a single occurance the CGL paid 10,000 for medical bills and the insured customer has now filed a liability claim against insured for 400,000 what limits remian for this claim under your insured cgl policy

290,000

how many parties are involved in a surety bond

3

1985 candice bought a silver tea set for 5,000 when it was stolen the insurance company gave her 2,000 what was the ACV of the tea set when candice bought it

5,000

An insurances building has been vacant for more than 90 consecutive days and sustians a fire loss of 100,000 the building is insured for 200,000 on an RCV basis and is in compliance with the coinsurance clause. disregarding the policy deductible the building and personal property coverage prescribes which of the following amount of the loss is to be paid.

I

Aster was an insurance adjuster licensed in the state of new jersey when she heard that a hurricane had hit texas she thought she could make enough money doing insurance adjusting in the lone star state that it would pay for her trip down and more without informing the state that she was doing so she promptly set up shop in galvistan as a public adjuster. as far as the state of texas is concerned what should aster had done to act as a legitimate adjuster in this situation

I

Don carries a homeowners 3/ special form with a coverage A dwelling limit of 100,000 dollars. the RC of the dwelling at the time of the loss was 200,000 dollars a windstorm caused damage that will cost 10,000 dollars to repair with new materials identical to those that were damaged the ACV of the damaged property is 6,000 dollars how much will dons policy will pay for the loss.

I

If jack and jill purchased a dwelling policy which of the following is not an endorsement avialible under the dwelling policy

I

Karen is a licensed life and health agent in Texas who also knows a great deal about the states workers comp laws and benefits what is the minimum license she needs to adjust workers comp claims

I

a focus of the texas motor vehicle safety responsibilty act provides direction related to damages for bodily injury or death, this would include ______________

I

according to the texas motor vehicle saftey respsonibility act what do damages for bodily injury or death include

I

an independat adjuster may also be which of the following things

I

as per texas deceptive far trade practices act (DTPA) economic damages include

I

as terry is driving through the mall parking lot henry backs out of his parking spot and hits the passenger door of terrys car henry admits it is his fault and promises to call his insurance company henrys insurance company denies to accept terrys claim so terrys insurance company paid the claim minus the deductable. which of the following actions can terrys insurance company take

I

aviation insurance warranties protect the blank

I

dirk who is usually detailed orented allows his adjusters license to expire 45 days ago how much will he have to pay the department

I

in livestock coverage form causes of loss are grouped into ________ catagories

I

in marine insurance application margo states that her yatch will only be sailed on inland waters if margo sails her yatch on the open sea why might her coverage be denied.

I

jeff has purchased an insurance policy on his new car jeffs wife, sister, and lendor all love the look of the new car of these three people is most likely to be an additional insured

I

judging from these actions all of these adgents which are on adepartment imposed probation

I

micheal owns an import and export business several items are transported to several locations a year which would not be covered under inalnd marine insurance

I

only certian parties are permitted to file under the decpetive trade practices act. which of the following parties can bring a complaint under the DTPA.

I

syvia holds a limited property & causialty license in texas last year she got credit for 2, 3 hour CE courses how many more hours must she get during this licensing period.

I

tanner industries has a general liabilty policy CGL with limits of $500,000 per ocurance and a commercial umbrella policy with limits of 1 million dollars. one of tanners employees while operating a crane drops a steele beem on a car. the accident crusshes the car causing $35,000 in property damage. two people are severly injured in the amount of $715,000 bodily for a total amount of $750,000

I

tanner worked in a chemical plant in baytown texas and was covered by workers comp one day he spilled a lubricant and did not clean it up emidiatly he forgot about the spill and later slipped on the slick floor and broke his leg which of the follow is used in determining tanners WC coverages

I

the definition in the commercial general libility for personal injury includes the following except

I

the luck lady casino boat docked on the Mississippi river the adjuster put together a chain of events on the fourth of July cruise a delivery company loaded cargo and a workman dropped a crate of goods which tumbled down a stairway and crashed below deck the worker retrieved the box and did not tell anyone upon leaving dock there was an electrical short from a broken wire which triggered an overload on the boiler bursting it and the surge sent the vessel onto a rock breaking a shaft a liner negligence clause was in effect the adjuster determined that not covered was/ were blank

I

the mountian air compnay has suffered physical loss due to a fire forcing it to close opertations for one month the company is insured against fire damage if mac earns net income of 10,000 per month and the cost to continue operations after a month is 20,000 what amount of coverage will its business income coverage form provide to MAC

I

the party planers corp PPC has snared the contract for a major event involving exotic animals and thousands of people which insurance coverage would be best

I

the party that obtains a bond is the ____________

I

thomas who teaches at a local university bealives his insurance company has engaged in deceptive actions that constitute fraud. he is reluctant to report the company for fear he might be sued for liabile or become involved in civil action. what is thomas' most apropriate action

I

what are P & I clubs

I

when two buildings owned by the insured are covered under a single limit of insurance this is known as

I

which medical expenses would not be paid under a farm policy with coverage J- medical expenses purchased by owl acres

I

which of the following is not one of the coverage extensions under the business owners policy

I

which perils do unendorsed dp-1 and dp-2 not cover

I

while MR. smith of smith interprises pondered the future of his company during a recesion he laid off his employees and removed the contents from the headquarters building. 90 days later business picked up again and he decided to bring the employees back to the building that was covered under a fire policy. unfortunatley while the building was empty it had been damaged by a small fire. which of the following seneraios is likely to ocurr.

I

wholesale foods brought a group of dealers into the home office on their coprate plane after a sucessful day of meetings the plane was heading back to home base. in austin texas with the company sales managers and dealers. one of the guests was on medication that was not to be taken with alcohol, but since this was a special ocassion he was having a scotch and soda. the next thing he remebered was waking up in the wako texas hospital where he was taken after the plane had to make an emergency landing when he had a medical reaction when the dealer found a part of his medical expense was covered he thought it was just "good will" but actually the wholesale foods aviation policy provided coverage under blank.

I

which statement below is incorrect about protection and indemnity and P&I clubs

P&I clubs are organized as reciprocal exchanges

Which of these insureds has a unnecessary information in his contract

Reesses contract for his amusment park contians an alternate entrance map

rusty an experinced pilot took an old passenger plane and converted it to be used as a crop duster before he could change his coverage he had an accident and his insurance company would not pay because he vialted his warranty with him why?

Rusty used to aircraft for a purpose not specifically listed in his policy

tanner industries has a business auto policy or BAP with limits of $500,000 and a comercial umbrella policy with limits of 1 million dollars one of tanners trucks crashes into 2 cars causing 750,000 dollars in damages, which of tanners policys will pay?

The BAP will pay 500,000 on a primary basis and the umbrella policy will pay the 250,000 excess amount

a large portion of steves tree crashes on top of tinas car when 70 mph winds blow through the neighborhood. tina stomps over the steves house and demands that steve pay for damage to her car immediatly. which of the defences would steve more than likely use

act of god or nature

which one of these plaintiffs would most likely receive the liquidated damages from the court

agent al tells Fred that he needs to insure his house for 200,000 dollars when a fire destroys the house the insurance company says it will only pay the value of the house/ an amount of 160,000 dollars

which of the following statements about an auto accident would not be acceptable evidence

and audio recording made without the witness knowledge and permission

while visting a construction site the brother of one of the workers walked off a narrow steel beam 20 feet off the ground to show his courage he falls and was injured he sues the construction company claiming neglegence on its part the construction company and the insurer argued that the danger was open and obious and the brother of the employee should have been aware of potental injury what deffence should the construction company and the insurer claim

assumtion of risk

which of the following statements is true regarding emergency flood insurance policy

avialible when a community applies to NFIP and is in effect until there is acceptance and rates are offered and carry a mandatory 1000 dollar deductible

insurance adjuster brendon was going through personal problems during the time he was investigating a fire he omited detials from his report that he otherwise would have covered the insurance company denied the insurers claim based on brendons investigation and the claiment sued. the court ruled against the insurance company based on these facts what was the courts probibal basis for this ruling

bad faith due to inadiquate investigation

which of the following is covered by liability coverage of a homeowners policy

bodily injury to another golfer struck by a golf ball driven by the named insured

which of the following is not a type of property group described in the nationwide marine definition

buildings

hull aircraft insurance covers losses or damages to the hull of an aircraft it is much like __________ insurance written in an auto policy

comprehensive and collision

when Ron aplied for life insurance he said that he did not have diabetes not long after that his insurance adgent visted his home and noticed some medication for diabetes that were perscribed before he filled out his aplication for insurance purposes ron was guility for which of the following things.

concealment

what is not insured by either building property or person property coverage

damage caused by moisture, milldew or mold that could have been avoided by the property owner

the protection and indemnity policy covers liability for

damage to cargo

the valuable papers and records inland marine coverage form reimburses the insured for replacing all of the following excepts

damaged sucrieties and paper money

a tornado hit an office in down town lubbock the building was condemed because of structural damage, a lawfirm leases sapce i the damaged building and was insured by a business owners policy/ special form their policy will cover all of the following except

direct loss to building

an adjuskters actions are governed by state law company procedures and their own sense of ethics in addition most adjusters want to provide outstanding customer service and go the extra mile brad had been assigned a claim and has done his homework on the case. apply the concept of unfair claims process to his actions and determine which is correct

document the evidence, the chronology of events, and events that occur during the claims adjustment process

commercial crime coverage does not include "loss sustianed" and "loss discovery" forms for

employee theft

there are a number of requirements related to an adjusters continuing education approved courses, which of the following statements about the adjuster continuing education is not true

flood insurance must be included within the licensing cycle

insurance adjusters have a duty to act in the best interest of the principal without the motives of self intrest they operate as

fudicary adjents

todds home has a repalcement value of 500,000 to have the home restored at replacement cost he must have blank amount of unsurance

he must have 400,000

as maries adjuster continuing education cycle is about the end, she realized that she was short of earning her CE credits what is the typical punishment by the commisioner.

her license may be suspended until she complies with the shortage of CE hours and she must pay 50 per hour that she was short

when neighbors complain about the noise at a busy local airport its manager is concerned but not to worried because he has airport liability coverage then he is sued and his lawyer tells him he should be worried

his policy exludes noise polution as a covered cause of loss

which injury is not covered by medical payments to others coverage under a homeowners policy

injury to a named insureds daughter cuased by falling off a swing set on the residents premises

when buying auto insurance gwyn intentionally conceals that her 79 jeep chearoke is flood salvage if the concealment is discovered what may happen to gywns coverage

it will be voided

there is a lot of wind that blows across texas and many times providing reliief from the heat but other times significant damage to property and persons the texas windstorm association provides all these coverages except

liability

there is alot of wind that blows across texas many time providing relief from the heat but other time significant damage to property and persons the texas windstorm association provides all these coverage's except

liability

the workers comp policy is primarly dived into two major parts, part one the workers compensation and part two the employers liabilty which of the following benefits are not covered under part one

liabilty payments

lindon knows that it would be more difficult to get marine insurance and more expensive if she travels in the open sea in a marine insurance application she states her yatch will be sailed only in inland waters if lindon sails his yatch in open sea what will be the effect on her coverage

lindon breached her warranty

Lou's set of vintage golf clubs are damaged in an accident which of the following statements is correct about the situation

loss to a pair or set is governed by specific conditions of the policy

greg is an employer with a debt problem so he conspires with his employee kyle to set his home on fire for half of the insurance money what type of hazard is this

moral

chucks diivery service has gotten into a legal dispute with one of their suppliers dons depot who missed a deadline resulting in legal action agianst chucks to prevent costly legal action chucks and dons signed a written agreeement arbitrait as arbitration began new information new information came to light that chucks decided that they would be better off going to court and gave noticce that they wanted to back out of arbitration chucks service found out that _______

no party may revoke a binding agreement at any time that they have signed

if the property of a client was specified perils coverage catches fire (indirect loss) due to eletrical probelms in a flood what action will the insurance company take

not cover the loss

The sea alice experinces several losses in a short time which losses will her hull insurance cover.

one of her twin propellers were destroyed when she hit a submerged 20 foot shipping container

susie an insurance agent explains to her customer vicki that the commercial general liability policy contains a section alled the supplementary payments which of the supplemental payments is the most significant payment of the four listed below

payment of defense costs

under the supplementary payments section of the commercial general liability policy what is the most important benefit for the insured

payment of deffence costs

The freindship between Trein and josh went sour when trein sued josh for taking some of his vaulable tools and keeping them josh claimed trein gave him persmission to borrow the tools because he wasnt using them. In court trein asked the judge to return the equipment to him while the suit progressed the judge agreed but only on the condition that trein guaranteed that he would pay costs and damages sustianed by josh if the court found against trein. in other words the judge required trein to post which type of bond

replivin bond

the general property form under the standard flood insurance policy is designed to provide insurance coverage for which of the following types of property

residential building and contents, as well as non residential buildings and personal property

which of these statements is correct about the definitions found in the commercial crime policy

robery is the unlawful taking of property from person having custody of it where threat of bodily harm or bodily harm is invoved

eligibility for personal auto policy can be divided into two catagories persons and autos, which of the following people is not eligible

sam owns a flat bed truck and hauls a bulldozer

Ron inherited the family hardware store and business increased Ron had kept the commercial lines policy his fathers adjent had in place on the harware business when exploring options ron found that his best choice for insurance was to blank

selct a BOP policy that included loss of earning and extra expense coverages

irene purchases a new yatch and was suprised about the things that go into buying marine coverage in the marine insurance application irene states that her yatach will only be sailed on inland waters if irene sails her yatch on the open sea why might her coverage be denied

she breached a warranty

carline is entering the adjusting business and is asking for advice about the type of adjuster she wants to be she wants to have the authority to settle claims on behalf of the company and yet have some discretion about the type of claims and location she will work what advice would you give carline about the type of adjuster role that would best fit her needs/

staff, and or independent adjuster

how can the amount payable in a insurance policy (especially an auto policy) can be fixed

stated amount

which of these statements about an adjusters license expiration is correct assume that there has been no suspension or revokation of the license by the commisioner

the expiration date is on the second aniversary date it was issued

susans son austin was playing at the neighbors house and broke his hand when he and the neighbors son fell out of the tree house located in teh big oaktree in the neighbors yard which of the losses would be covered in the neighbors home owners policy

the hospital bill to put austins hand in a cast and other related payments

which of the following persons are not considered a family memeber as defined in the personal auto policy

the named insureds mother, claire lives one block away from the named insureds home

why are property and casulity insurance contracts known as contracts of indemnity

the provide the means to make the insured whole again

liz and dick have a BAP issued in Dicks name liz is upset with dicks wild life style and decides to move and devorce him 45 days after she has moved out she is involved in an auto accident while driving her auto which is listed on the BAP would she be covered under the BAP if she has no other policy

there is coverrage since she is covered in "ewe" for a period of 90 days after she leaves if not specifically named in the policy

if omega insurance company enters an insurance contract with Steve and omega intentionally deceives while explaining the coverage to Steve, which principal has omega violated

utmost good faith

Baily brewery has 2 plants one located in austin and the other in fort worth. when delivery cases of beer to hoff brew bar baileys delivery man runs over his full cart into bar patron the patron suffers arm and shoulder injuries and makes a cliam against baily wanyne and hoff brew. for which type of liability will each party be held responsible.

wayne direct liabilty or neglegence, baily vicarous liability, hoff brew viacarous liability

morris manufacturing sues miller insurance company for refusal to pay a legitimate claim and is awarded payment for losses actually sustained

which of the following situations best describe a situation where plaintiffs would receive compensatory damages

phil has a dwelling policy that contains entitled other coverages, which provides an expansion of coverage provided in the insuring agreement which of the following statements correctly explains one of the other coverages.

world wide coverage is provided for property included in coverage C up to 10% of the coverage C limit

john has moved a property to protect it from an insured peril the property sustains damage and john plans to report it, but work piles up and a month goes by before he remebers to file the claim which coverage will john receive.

zero

the texas insurance code require that anyone who handles property and causulty claims must be licensed. Which of the following persons in required to have a licenses when handling these types of claims

Don is a contractor but with the construction industry going up and down he is glad he is hired to handle claims especially after a big hail storm

mary goes before the county tax comittee to apeal a tax increase on her property. in the heat of aurgument she acuses the chair person of being a cheat and liar he sues mary for slander and defamation of character, will marys homeowners policy which is endorsed with personal injury pay for such a claim.

Yes, the endorsement expands to definition beyond bodily injury so as to include certian offences such as slander and defamation