GA Claims Adjuster Licensing Exam Questions with Complete Solutions What coverage does Community Eligibility apply to? - Correct Answers ✅Flood insurance through FEMA What's the difference between Emergency Program and Regular Program in the National Flood Insurance Program? - Correct Answers ✅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 Answers ✅$250,000 On what policy can you add the Flood Program endorsement?
- Correct Answers ✅None! It has its own policy through the
Federal Government.Difference in Conditions (DIC) Insurance - Correct Answers ✅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 Answers ✅30 days after policy purchase 1 / 4
GA Claims Adjuster Licensing Exam Questions with Complete Solutions What is the coverage change waiting period for the NFIP? - Correct Answers ✅5 days Give examples of the flood peril - Correct Answers ✅- an overflow of inland or tidal waters
- unusual or rapid accumulation or runoff of surface waters
- Collapse of land along the shore of a lake as a result of
-Mudflow or Mudslide
erosion What kinds of things does flood insurance cover? - Correct Answers ✅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 Answers ✅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 Answers ✅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. 2 / 4
GA Claims Adjuster Licensing Exam Questions with Complete Solutions What are the coverages of flood insurance? - Correct Answers ✅Dwelling, Contents, Debris Removal How are damaged items valued in flood coverage? - Correct Answers ✅Dwelling - replacement cost Contents - Actual Cash Value What kind of property is not covered by flood insurance? - Correct Answers ✅Basements and underground structure (ex. septic tanks), animals, money/accounts/bills, land, anything else covered by other policies (motor vehicles, aircraft, watercraft) Loss Valuation on flood insurance - Correct Answers ✅(amount of insurance purchased/80% Dwellings Total replacement cost) x Loss Amount Standard deductible on flood insurance - Correct Answers ✅$1K for Dwelling and $1K for Content Personal Inland Marine Insurance - Correct Answers ✅Floaters or policies for world-wide coverage of personal property on an open-peril basis.Is flood excluded from Personal Inland Marine Insurance? - Correct Answers ✅NOPE. It's covered! 3 / 4
GA Claims Adjuster Licensing Exam Questions with Complete Solutions What are the floaters available on Personal Inland Marine Insurance? - Correct Answers ✅Personal Articles Floaters, Personal Property Floaters, and Personal Effects Floaters What perils are covered under Personal Inland Marine Insurance floaters? - Correct Answers ✅all; open-peril Which PIMI floater would be appropriate for a diamond ring?Why? - Correct Answers ✅Personal Articles Floater - itemizes valuables such as jewelry and furs What is a Personal Effects Floater good for? What deductible does it have? - Correct Answers ✅world-wide open peril coverage of personal property for people who are traveling - luggage, sports equipment, clothes, and camera. NO
DEDUCTIBLE.
What is a Personal Property Floater good for? What kind of limit do they have? - Correct Answers ✅World-wide open peril coverage of personal property - usually for special occasions like weddings or exhibitions. There is a blanket limit!Does personal inland marine insurance cover flood? - Correct Answers ✅Yes. Somehow.
- / 4