CT Adjuster Exam Practice Questions With Complete Solutions Riley's coupe is insured with a personal auto policy that includes liability, uninsured motorists, and other-than- collission coverages. He buys a new sedan and wants collission coverage on it. Which statement is true about this coverage? - Correct Answers ✅He must notify the insurer about the newly acquired sedan within four days.Because Riley's coupe does not have collission coverage, he must report the newly acquired sedan to his insurer within four days of its acquisition to get collision coverage for it.Dairy products in Bette's ice cream shop would be destroyed if her freezers failed for more than a few hours. So Bette added the utility services-direct damage endorsement, scheduling overhead transmission lines, to her businessowners policy. When the shop losses electrical power due to a mechanical breakdown of the utility company's
equipment: - Correct Answers ✅Bette's loss will not be
covered because mechanical breakdown is not a covered peril For coverage to apply, the service interruption must result from damage to utility company property caused by a covered cause of loss. Mechanical breakdown is not a covered peril.An imposter pretends to be Barbara, the president of a succesful company, while engaging in scandalous activities. 1 / 3
CT Adjuster Exam Practice Questions With Complete Solutions These activities attract media attention and threaten the firm's reputation. So Barbara spends $5,000 on advertisements to preserve this reputation. How will Barbara's businessowners policy address this expense? - Correct Answers ✅it covers this expense if the identity fraud expense coverage endorsement is attached.The identity fraud expense coverage endorsement adds a $5,000 limit for advertising expenses to restore a business reputation.Maurice's personal auto policy (PAP) on the family car lists him as the named insured. His wife, Sondra, is involved in an accident while using the car as a charity organization volunteer. The injured paties sue Maurice, Sondra, and the charity organization. Which is insured under the policy's liability coverage? - Correct Answers ✅Maurice, Sondra, and the Charity Organization Sondra is a named insured by virtue of her marriage to Maurice, who is named in the policy. Charity Orgranization is an insured because it may be held liable for an insured's use of the named insured's covered auto.Jeffrey has violated a cease and desist order of the Commissioner. After notice and hearing, what is the maximum amount he may be fined? - Correct Answers ✅$50,000 for each violation 2 / 3
CT Adjuster Exam Practice Questions With Complete Solutions An individual who violates a cease and desist order of the Commissioner may be fined up to $50,000 dollars for each violation or may have his or her license suspended or revoked.What does an insurance company require from an insured before it will determine whether the policy covers a loss? - Correct Answers ✅Proof of Loss Statement An insured's proof of loss statement is required by an insurance company before it will determine whether the policy covers the loss.Which of the following provides an insurance company with a fairly accurate means of determining the likelihood of a particular event occurring? - Correct Answers ✅The law of large numbers Because it is based on a large number of independent occurences of a simlar nature, the law of large numbers allows insurers to determine the probability that actual losses will equal expected losses.Claudette's home is flooded. Assuming her homeowners policy would cover at least part of the damage, she submits a claim. In verifying coverage, Ira-the adjuster assigned to
- / 3