Georgia Adjuster Exam Questions and Answers Already Passed

An insured's business is damaged because of a fire and he is forced to close business temporarily for repairs. As a result the insured lost income. What type of loss is this? ✔✔Consequential also known as Indirect Loss The insured crashes into a porch and the person sitting on the porch. The person on the porch is injured. The insured's insurance policy has a limit set at $500,000. This amount applies to the total of damages for any bodily injury and property damage resulting from one accident. Which type of limit of liability does the insured have? This single dollar limit of liability applying to the total of damages for bodily injury and property damage combined resulting from one accident or occurrence ✔✔Combined Single If a liability policy had split limits of 100/300/100, what is the maximum amount that would be payable in the event of injury to a single person? The first limit shown is the most the policy will pay for bodily injury to any one person ✔✔$100,000 What kind of liability would a person with a swimming pool have? Any conduct that is inherently dangerous imposes this liability. The claimant does not have to prove anythhing. ✔✔Absolute An agent license can be issued ✔✔Only to individuals If a policy has been in affect for at least 60 days or is due for renewal, a cancellation may only be affected for this reason ✔✔A change in the risk that substantially increases the hazard insured against