Insurance Adjuster Quiz

Which of the following is a qualification to be licensed as a Producer or Adjuster?

• Age of 21

• Pass the exam with 70% or Higher

• Be a resident of the state for at least 6 months

• Have a High School Diploma

What type of policy insures against open perils of loss that are not specifically excluded?

• Named Peril

• Broad Peril

• Special Peril

• Full Coverage

A fire spreads from insured's house to the neighbor's house. What type of loss is this?

• Direct

• Indirect

• Apparent

• Tough Luck

Sam has lunch at a BBQ. He gets food poisoning and dies. His death is what type of injury?

• Personal

• Product

• Vicarious

• Bodily

Bill has a Bengal Tiger as a pet. The tiger causes bodily injury to the neighbor's kid. What type of liability would apply?

• Comparative

• Absolute

• Strict

• Vicarious

A property insurance valuation method that provides for payment of the full policy limit determined at the time of application for insurance is called?

• Agreed Value

• Actual Cash Value

• Market Value

• Replacement Cost

Which homeowner policy would a renter buy?

• HO-2

• HO-3

• HO-4

• HO-5

An HO-8 policy is designed for which type of risk?

• Dwelling under construction

• Dwelling with poor Maintenance

• Dwelling for Multiple Families

• Dwelling replacement cost exceeds the market value

Which of the following would be covered in a NFIP Flood Policy?

• Mud Removal

• Docks and Piers

• Property in the Basement

• Lawn Chairs on the Patio

What is the maximum amount an insurer would pay to all injured third parties for bodily injury and property damage under a policy of 25/50/25 limits of liability?

• $25,000

• $75,000

• $50,000

• $100,000