Economics > EXAM > GA Claims Adjuster Licensing Exam| 129 questions| 14 pages| with complete solutions (All)

GA Claims Adjuster Licensing Exam| 129 questions| 14 pages| with complete solutions

Document Content and Description Below

GA Claims Adjuster Licensing Exam| 129 questions| 14 pages| with complete solutions What coverage does Community Eligibility apply to? Correct Answer: Flood insurance through FEMA What's the diffe... rence between Emergency Program and Regular Program in the National Flood Insurance Program? Correct Answer: Emergency applies to homes in communities that are a normally not a flood hazard. Regular programs are awarded to an entire community that is eligible due to flood hazard. What is the flood coverage on a regular program in a 1-4 Family Dwelling? Correct Answer: $250,000 On what policy can you add the Flood Program endorsement? Correct Answer: None! It has its own policy through the Federal Government. Difference in Conditions (DIC) Insurance Correct Answer: A separate insurance policy that provides open-perils coverage to fill in the gaps left by flood coverage if a home is worth over $250K. Coverage is produced through Excess/Surplus Lines. What is the waiting period on NFIP coverage? Correct Answer: 30 days after policy purchase What is the coverage change waiting period for the NFIP? Correct Answer: 5 days Give examples of the flood peril Correct Answer: - an overflow of inland or tidal waters - unusual or rapid accumulation or runoff of surface waters -Mudflow or Mudslide - Collapse of land along the shore of a lake as a result of erosion What kinds of things does flood insurance cover? Correct Answer: Your house and your things (dwelling and personal property). No indirect charges. Dwelling coverage extension for flood insurance covers what? How much is it? Correct Answer: Structures not attached to dwelling (O.S. or Appurtenant structures). 10% of Dwelling limit. ***It is an extension of coverage, NOT the $250K limit so any coverage needed here will reduce the amount able to go to the dwelling. Contents coverage of flood insurance is limited to what? Correct Answer: Personal property damaged or destroyed by the flood itself and belongs to insured and resident spouse/relatives. The insured is liable for content of others. What are the coverages of flood insurance? Correct Answer: Dwelling, Contents, Debris Removal [Show More]

Last updated: 2 years ago

Preview 1 out of 16 pages

Buy Now

Instant download

We Accept: