pg. 1 Texas All Lines Adjuster Latest 2024 Complete Exam/ Actual Questions with 100% Correct Verified Answers/ 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.
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.
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.
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pg. 2 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.
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.
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pg. 3
The aircraft physical damage (hull) deductible is normally expressed as: -
Correct Answer - A percentage of the value of the aircraft.
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
An insured submits a claim to the insurer and their adjuster acknowledges receipt of the claim. The insured then hears nothing more after making
repeated attempts to contact the adjuster. This is considered: - Correct
Answer - An unfair claims settlement practice.
Which of the following best describes an "insurance producer"? - Correct Answer - Someone who represents an insurance company in the soliciting and negotiation of insurance.
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pg. 4 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.
Cameron has his home covered under a Homeowners policy and his limit for bodily injury is $100,000. He also purchased a Personal Umbrella policy with a $1,000,000 limit of liability. Cameron is sued and a judgement was made against him for $500,000. To trigger his Umbrella policy, his Homeowners policy must pay $100,000, but he finds that the insurance company from which he purchased his Homeowners policy has become insolvent. How will the Umbrella insurer pay the claim (disregarding any retention limit)? - Correct Answer - The Umbrella policy will not become primary when the insurer carrying the underlying insurance becomes insolvent, but will pay the $400,000 as if the underlying insurer had paid its $100,000 limit of liability..
The additional coverage for debris removal under the standardized Building
and Personal Property coverage form will only be paid if: - Correct Answer -
The insured reports the debris removal expenses to the insurance company in writing within 180 days of the loss..
The insured is covered under a Watercraft policy and asks the agent about a lay-up period credit to get a reduction in the premium. The dates of the lay-up period are specified in the policy. There is an emergency and the insured must use his boat in a life saving event. The boat is damaged and sinks. Under what circumstances would coverage apply? - Correct Answer
- Only if the insurance company is notified within 10 days of the emergency
use
Which of the following coverage parts would be eligible for inclusion in a Commercial Package policy? - Correct Answer - Professional liability coverage.
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