NC Claims Adjuster Exam Study Already
Passed
Liability Insurance PAP (Part A) ✔✔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
...
NC Claims Adjuster Exam Study Already
Passed
Liability Insurance PAP (Part A) ✔✔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 ✔✔A. Liability
B. Medical Payments
C. UM/UIM
D. Physical Damage
E. Insured Duties
F. General Provisions
Certificate of Insurance (COI) ✔✔A document that proves the existence of insurance coverage
Occurrence ✔✔Something that continue to happen and may cause injury later on.
Accident ✔✔A sudden unforseen and unintended one time event
Assumption of risk ✔✔An individual who is aware of the potential risk involved and chose to
expose themselves to it.
Comparative negligence ✔✔Measures the amount of negligence contributed to each party. The
injured party will not cover damages equal to the percentage of negligence they contribute.
Contributory Negligence ✔✔If an insured party contributed to their injury in anyway due to their
own negligence, we will not pay anything.
What state is a contributory state? ✔✔North Carolina
Negligence ✔✔Failure to do (or not do) what a reasonable prudent person would or would not
have done in a similar instance.
Temporary Substitute Automobile ✔✔Not owned by the named insured but used temporarily as
a substitute for the owned auto that is not currently being used.
What is an example of a Temporary substitute Automobile? ✔✔A dealership loans an insured a
vehicle to drive while their car is getting fixed.
Non Owned Automobile ✔✔Not owned by the named insured or any relative.
What is an example of an Non Owned Automobile? ✔✔An insured borrows a neighbors car.
If an additional vehicle is not reported to the insurer within 30 days: ✔✔No coverage will apply
to the added vehicle.
If a vehicle is added to an existing policy (In addition to): ✔✔It will have the broadest coverage
if insured within 30 days of becoming the owner.
If a replacement vehicle is not reported within 30 days: ✔✔Part D (Comprehensive and Collision
Coverage) will not apply to the replacement vehicle.
A new vehicle that replaces another vehicle will: ✔✔Have the same coverages as the old vehicle
if the named insured request to insure it within 30 days of becoming the owners.
Insured ✔✔Any blood relative by marriage, adoption, wards, foster children, living in the same
home, including children away at college. Also, any person using someones car with their
permission.
Named insured ✔✔Listed on the declarations page. Included a spouse wether they are named in
the policy or not, provided they live in the same home.
1st Coverage for watercraft or yacht are: ✔✔Hull insurance for damage to the insured boat itself
2nd Coverage for watercraft or yacht are: ✔✔Protection and indemnity liability coverage for BI
and PD exposures for damage to other people or other peoples boats.
What doesn't watercraft or yacht coverage provide? ✔✔Coverage for boats used for hire,
charger, or for transporting people for a fee.
How many days removal coverage is provided on the N
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