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N.C. Claims Adjuster Exam Questions and Answers (2024 / 2025) (Verified Answers)

Liability Insurance PAP (Part A) - ANSWER-Pays all the sums and insured must legally pay as damage due to BI/PD caused by an accident and resulting from the ownership, maintenance or use of a covered auto. Coverage Part A through F of a PAP - ANSWER-A. Liability B. Medical Payments C. UM/UIM D. Physical Damage E. Insured Duties F. General Provisions Certificate of Insurance (COI) - ANSWER-A document that proves the existence of insurance coverage Occurrence - ANSWER-Something that ...

NC Claims Adjuster Exam 1 Questions and Verified Solutions Latest Update Actual Cash Value (ACV) - Answer -Cost to replace property with new property of like kind and quality less depreciation. Combined Single Limit - Answer -One limit per occurrence is what we pay up to Split limit - Answer -What we pay up to per person and per occurrence Deductible - Answer -What the customer will have to pay; we cover everything else Declarations Page (Dec Page) - Answer -The basic information about a ...

NC Adjuster’s exam Part I Questions and Verified Solutions 2024 law of large numbers - Answer -the larger the sample size the more accurate the predictions speculative risk - Answer - what insurance protects against - Answer -the uncertainty (risk) of when a financial loss may occur pure risk - Answer -chance of loss only not all of these risks are insurable insurable risk - Answer -risk that an insurance company is willing to accept characteristics of an insurable risk - Answer -low p...

NC Adjuster Exam With Verified Solutions 2024 Utmost Good Faith - Answer -Both parties must act honest and openly in order for the contract to be valid. Adhesion - Answer -One party sets the terms for the contract; the other party may simply agree or disagree Unilateral - Answer -Only the insurer makes a promise to act; the insured can void contract at any time. Personal - Answer -The insured person is protected from loses not the personal property. Conditional - Answer -The insurer must...

N.C. Claims Adjuster Exam Questions and Answers Latest Update 2024 Inception/Expiration Date - Answer -an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. Occurrence Date - Answer -Date of which the loss occurred Identification of parties involved - Answer -The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured pe...

NC Claims Adjuster Exam Study with Correct Solutions 2024 Liability Insurance PAP (Part A) - Answer -Pays all the sums and insured must legally pay as damage due to BI/PD caused by an accident and resulting from the ownership, maintenance or use of a covered auto. Coverage Part A through F of a PAP - Answer -A. Liability B. Medical Payments C. UM/UIM D. Physical Damage E. Insured Duties F. General Provisions Certificate of Insurance (COI) - Answer -A document that proves the existence ...

Liability Insurance PAP (Part A) correct answers Pays all the sums and insured must legally pay as damage due to BI/PD caused by an accident and resulting from the ownership, maintenance or use of a covered auto. Coverage Part A through F of a PAP correct answers A. Liability B. Medical Payments C. UM/UIM D. Physical Damage E. Insured Duties F. General Provisions Certificate of Insurance (COI) correct answers A document that proves the existence of insurance coverage Occurrence cor...

NC Claims Adjuster Exam 2024/2025 With 100% Correct And Verified Answers