TEXAS ALL LINES ADJUSTER EXAM 378 QUESTIONS WITH 100%
CORRECT AND COMPLETE ANSWERS/A+ GRADE/2023
Hannah must take time away from work to help assist in
... [Show More] the investigation of a claim that was
made against her BOP policy. The policy will pay for Hannah's actual loss of earnings up to:
Correct Answer: $250 per day.
Surplus Lines companies in Texas have _____ to acknowledge the receipt of a claim. Correct
Answer: 30 days.
All of the following are characteristics of a principal that a surety will scrutinize during the
underwriting process, EXCEPT: Correct Answer: Consideration.
Under Section II of a Homeowners policy, a cemetery plot owned by the insured is considered to
be: Correct Answer: An insured location.
Which of the following is NOT one of the four major coverages of an Ocean Marine policy?
Correct Answer: Seaworthiness.
A ship has suffered damage and sunk. Which of the following would respond to cover the loss of
the ship? Correct Answer: Hull Insurance.
As a fiduciary agent, an adjuster has the power to bind the insurer. Which of the following
statements is FALSE regarding this power? Correct Answer: Only an adjuster's written
statements can legally bind an insurer.
The standardized Dwelling forms consider all eruptions of a volcano within a __________
period to be a single "occurrence". Correct Answer: 72-hour
Whose responsibility is it to complete a "proof of loss"? Correct Answer: The claimant.
Which of the following would NOT be determined by a court when an insurer has filed a
declaratory judgment action? Correct Answer: The type and amount of damages that will be
paid to a plaintiff for the claim that is being disputed.
Which of the following statements is TRUE regarding the Homeowners "additional coverage"
known as Landlord's Furnishings? Correct Answer: The coverage is not additional insurance and
does not increase the limits of the policy.
Which of the following would be covered under the Jones Act? Correct Answer: Crew members
of a ship.
All of the following statements are true regarding a Personal Liability Supplement, EXCEPT:
Correct Answer: The policy will cover watercraft liability.
Which of the following statements is TRUE regarding Commercial Property coverage? Correct
Answer: Commercial property coverage can be written as both a monoline policy and as part of
a package policy.
TEXAS ALL LINES ADJUSTER EXAM 378 QUESTIONS WITH 100%
CORRECT AND COMPLETE ANSWERS/A+ GRADE/2023
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.
The optional coverage for "Employee Dishonesty" under a standard Businessowners policy
provides a "discovery period" for the insured to discover the dishonest act and have coverage still
apply. Which of the following statements best describes the "discovery period" for this optional
coverage? Correct Answer: The "discovery period" is one year from the end of the policy
period.
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 per [Show Less]