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Personal Auto Policy (PAP) Comprehensive Review Study Guide, Exams of Insurance law

This study guide provides a comprehensive overview of the personal auto policy (pap), covering key aspects such as liability insurance, medical payments, uninsured motorist coverage, damage to your auto, and additional provisions. It includes definitions, explanations, and examples to help students understand the intricacies of pap coverage.

Typology: Exams

2023/2024

Available from 02/22/2025

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Adjuster Pro
State Insurance Claims Adjuster-Pro Certification
Insurance Claims Adjuste-Pro Exam
Course Title and Number: Insurance Claims Adjuste-Pro Exam
Exam Title: Board Exam
Exam Date: Exam 2024- 2025
Instructor:[Insert Instructor’s Name]
Student Name:[Insert Student’s Name]
Student ID:[Insert Student ID]
Examination
180 minutes
Instructions:
1. Read each question carefully.
2. Answer all questions.
3. Use the provided answer sheet to mark your responses.
4. Ensure all answers are final before submitting the exam.
5. Please answer each question below and click Submit when you have
completed the Exam.
6. This test has a time limit, The test will save and submit automatically
when the time expires
7. This is Exam which will assess your knowledge on the course Learning
Resources.
Good Luck!
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Adjuster Pro

State Insurance Claims Adjuster-Pro Certification

Insurance Claims Adjuste-Pro Exam

Course Title and Number: Insurance Claims Adjuste-Pro Exam Exam Title: Board Exam Exam Date: Exam 2024- 2025 Instructor: [Insert Instructor’s Name] Student Name: [Insert Student’s Name] Student ID: [Insert Student ID]

Examination

180 minutes

Instructions:

**1. Read each question carefully.

  1. Answer all questions.
  2. Use the provided answer sheet to mark your responses.
  3. Ensure all answers are final before submitting the exam.
  4. Please answer each question below and click Submit when you have** **completed the Exam.
  5. This test has a time limit, The test will save and submit automatically** **when the time expires
  6. This is Exam which will assess your knowledge on the course Learning** Resources.

Good Luck!

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State Insurance Claims Adjuster-Pro Certification 2024- | Adjuster-Pro Exam Section 3 Adjuster-Pro Exam Comprehensive Review Study Guide | 100% Pass Guaranteed | Graded A+ Read All Instructions Carefully and Answer All the Questions Correctly Good Luck: - The Personal Auto Policy (PAP) - =Answer>> A policy that combines liability insurance with other optional coverages PAP Policies can cover - =Answer>> -Individuals and residing family members -People driving car with owner's permission -Four-wheeled vehicles under 10,000 lbs *Insurable interest is required PAP Policies will indemnify for: - =Answer>> -Property Damage -Personal Injury -Legal Defense What will PAPs not pay for - =Answer>> Punitive Damages 8 Sections of Typical PAP - =Answer>> 1. Declarations

  1. Part A Liability
  2. Part B Medical Payments
  3. Part C Uninsured Motorist Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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-Comprehensive and Collision Coverage can be added within 4 days of getting new car and are automatically applied for first 4 days with $500 deductible Covered Person - =Answer>> 1. The named insured and family members living in the same household

  1. Someone using covered auto with permission Minimum amount of auto required for some states - =Answer>> $25,000 for person's injuries $50,000 max for all injuries in any one accident $10,000 max for all property damage Primary Coverage in PAP - =Answer>> Coverage is primary if it involves a car the insured owns Secondary Coverage in PAP - =Answer>> Coverage is secondary if it involves a car the insured does not own Out of State Coverage Provision in PAP - =Answer>> If you meet your home state's requirements, it is assumed you meet the requirements of any other state. PAP Part A - Supplementary Payments - =Answer>> -Assist policyholder with a variety of accident-related expenses -Not subject to liability limits May include: -Lost wages up to $200 per day -Expenses due to insurer's request such as retrieving accidents reports or records -Bails bonds up to $ Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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-Accrued interest after a judgement -Premiums on appeal bonds and attachment bonds PAP Part A - Exclusions - =Answer>> -Intentional Damage -Property owned or transported by the insured -Damages incurred under the scope of employment, except domestic employees ineligible for workers' comp -Properties rented or used by insured -Hired vehicles transporting people or goods -Company-owned business vehicles -Damages or injuries caused whole repairing servicing storing etc. -Vehicles taken without permission No-Fault Insurance - =Answer>> -Designed to indemnify the insured for his own injuries regardless of fault -Covers bodily injury only -Mandatory in some states PAP Part B - Medical Payments - =Answer>> -Provides coverage for the insured -Pays medical expenses of the insured, no matter who caused them -Applies when anyone considered an insured under the policy is occupying or struck by auto -Includes vehicle-pedestrian accidents -Covers eligible payments for up to 3 years, per insuring agreement Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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-Cars used without reasonable belief that permission was granted PAP Part D - Damage to Your Auto - =Answer>> -Called Physical Damage -Protects insured's financial interest in the car -Two types: Collision and Other Than Collision PAP Part D - Collision Coverage - =Answer>> -Pays for damage to insured's vehicle caused by collision or rollover -Applies even when insured is at-fault -For covered auto and any non-owned car insured is driving Payment after a Collusion - =Answer>> -Total Damage: Insurer pays ACV of car at time of the collision -Partial Damage: Insurer pays to repair the car with similar materials -Transportation Expenses: $20/day, up to $ PAP Part D - Other than Collision (Comprehensive) - =Answer>> Covers damages not caused by collision or overturn Comprehensive Coverage Perils under PAP - =Answer>> - Theft -Hail, water, or flood -Windstorm -Fire -Vandalism Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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-Explosion -Earthquake -Riot/Civil Unrest -Missiles or falling objects -Bird or Animals Personal Injury Protection (PIP) No-Fault - =Answer>> -Covers injuries to the insured caused by an accidents, no matter who was at fault Advantages of No-Fault PIP - =Answer>> -Fewer lawsuits -Helps contain rising automobile insurance costs -First party rather than third party claims -Quicker reimbursements -Pays up to the policy limit without recourse Who does PIP Pay for? - =Answer>> -Insured and members of household, in the insured or another's vehicle -Children of the insured while on the school bus -Certain passengers without their own PIP -Licensed drivers who drive the insured's vehicle with permission What does PIP pay? - =Answer>> -Medical costs -Lost wages -Medical transportation expenses -In-home caregivers -Death benefits PIP Primary vs Excess Coverage - =Answer>> -PIP is primary coverage Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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Popular PAP Endorsements - =Answer>> -Suspension of Insurance -Towing and Labor -Extended Non-Owned Coverage -Customized Equipment -Miscellaneous Vehicle -Non-Owner Coverage According to NC PAP Laws the drivers must prove ability to pay for damages through what? - =Answer>> -Motor Vehicle Liability Insurance -Bonds -Self-Insurance North Carolina Minimum Personal Auto Liability Limites - =Answer>> -$30,000 per accident to one person for bodily injury or death -$60,000 per accidents to two or more persons for bodily injury or death -$25,000 per accident for property damage to others -Must include Uninsured Motorist (UM) Coverage North Carolina Penalties for Driving without insurance - =Answer>> -If driver hasn't been in any accidents while uninsured and obtains insurance within 10 days, it is a $ fine for first offense, $150 fine for 3 or more offenses -If driver doesn't obtain insurance within 10 days, license revocation, fine between $50-$ -If driver has been in an accidents, or knew they were driving illegally, license revocation for 30 days Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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-After accidents without insurance commissioner can make driver pay a security up to minimum liability limits NC PAP Laws - Stacking - =Answer>> -Allowed if insured has multiple UM/UIM policies -Insured may not combine UM/UIM coverage of multiple cars on the same policy NC Property Damage Deductible under PAP - =Answer>> $ per insured person NC Laws for Insurer's notification of cancellation in a PAP - =Answer>> -15 days in advance for non-payment of premiums -10 days in advance for all other reasons during the first 60 days of the policy -60 days in advance for all other reasons after that -This applies to UM/UIM coverages only, for all other coverages only 10 days notice required Once a policy has been in effect for 60 days, insurer may only cancel for what reasons - =Answer>> -Non-Payment of premiums -Lying about the driving records or years of experience of an insured -A insured or someone who uses the car regularly with permission, has license revoked during policy period or is convicted of a dui -Insured stops being a NC resident -Insurer's contract with the agent who wrote the policy is terminated Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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According to NC PAP Law additions to Part A - Appraisal Provision - =Answer>> This applies when the claimant and insurer agree that the insured is liable for damages, but cannot agreed on a value for damages. If difference between estimates is greater than $2,000 or 25% of vehicles market value, the dispute will go to appraisal According to the NC PAP Laws Part C - Arbitration Provision

  • =Answer>> -Insured may demand arbitration if insurer can not agree on whether an accident is covered -May demand if they file lawsuit within the required time limit for such lawsuits in the state -Demand arbitration in writing within 30 days after the filing the lawsuit What exclusions are added to Part D in NC PAP laws - =Answer>> -Confiscation because insured broke the law -Losses to a covered auto while insured is doing racing activities -Losses to custom equipment in excess of $1, What additional duties after an Accident or Loss does an insured have in the NC PAP Laws Part E - =Answer>> -If insured plans to sue a suspected uninsured motorist, must notify insurer at least 60 days in advance -If the insured plans to demand payment from an underinsured motor vehicle, they must notify the insurer and give insurer opportunity to participate Farmer's Insurance Needs - =Answer>> -Homeowners coverage for personal property Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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-Commercial coverage for business assets -Farm insurance, combining both in one policy Types of Farm Insurance Provided - =Answer>> -Property Insurance for dwelling and contents -Scheduled and Unscheduled Farm Personal Property Insurance -Mobile Agricultural Machinery and Livestock Coverage -Farm Liability Insurance Properties not Eligible for Farm Insurance - =Answer>> - Farms that manufacture or process goods -Farms for raising race or show animals -Some vacant farm properties Farm Property Coverage Forms - =Answer>> -Cover direct losses to physical property on the insured's farm -List the types of property covered -Use attached Cause of Loss forms to list covered perils Scheduled Farm Personal Property - Coverage E - =Answer>> - Insured selects items from a farm inventory -Policy insures only selected items, each for an assigned value -Separate Causes of Loss forms for each insured item Unscheduled Farm Personal Property - Coverage F - =Answer>> -Insures all farm property -Provides blanket coverage for all items together -Single Causes of Loss forms for all items covered -Settles claims Actual Cash Value Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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Farm Property - Causes of Loss Forms - =Answer>> 1. Basic Form

  1. Broad Form
  2. Special Form Coverage H of Farm Insurance Policy - =Answer>> Bodily Injury and Property Damage Liability Coverage I of Farm Insurance Policy - =Answer>> -Pays for claims not involving property damage or bodily injury -Includes malicious prosecution, wrongful entry or eviction, and libel or slander Coverage J of Farm Insurance - =Answer>> Medical Payments Coverage Separate Endorsement required for Farm Pollution Liability
  • =Answer>> Chemical over-spray from aircraft Custom Farming Liability - =Answer>> -Covers farmers doing contract work -Will not apply if a farmer makes more than $5,000 per year as a contracters If Farmer meets coinsurance requirement, insurer will pay smallest of following - =Answer>> 1. Replacement cost of damaged property
  1. The amount actually spent on necessary repairs or replacements
  2. The policy limit Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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If Farmer does not meet coinsurance requirement, insurer will larger of following - =Answer>> 1. Actual Cash Value of Damaged Property

  1. A fraction of the replacement cost; based on how much claimant had compared to should have had Standard Fire Insurance Policy - =Answer>> -First standardize form of property insurance -Foundation for all other property coverage 12 Additional Coverages for Section I Property - HO Policy - =Answer>> 1. Debris Removal - subjects to limit from A,B,C additional coverage up to 5%
  2. Reasonable Repairs - reimburses for temporary repairs
  3. Trees, Shrubs, etc - pays to replace plants, limit $500 each
  4. Fire department - limit $500, if called no deductible required
  5. Loss Assessment - Pays when condo charges assessment after loss
  6. Property Removal - Provides coverage for items removed from danger for 30 days
  7. Credit Card Fraud - Reimburses for fraud $500 limit
  8. Collapse - Hidden decay, insects, weight of contents
  9. Ordinance or Law - Pays difference between old and new code
  10. Lands furnishing - Protects a landlord who rents furnished $2,500 limit
  11. Additions and Alterations - HO-4, 6 only covers damages made from alterations
  12. Grave Markers - Proects against damage to grave plots - limit $5, Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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Conditions Exclusions Endorsements Additional Coverages in Dwelling Policy paid as part of limit

  • =Answer>> -Debris Removal -Reasonable Repairs Additional Coverages in Dwelling Policy paid on top of limit - =Answer>> -Ordinance or law -Fire Department Service Charge -Trees, Shrubs, Plants Types of Dwelling Policy Forms - =Answer>> -DP-1 - Basic Form (named peril-coverage covers only fire, lightning, and explosion. Many add extended coverage, covering perils W.C.S.HA.V.V.E.R) -DP-2 - Broad Form (Includes all broad form perils covers damage during burglary not items) -DP-3 - Special Form (Open peril coverage for property structures named peril coverage to personal property) Claim Settlement Condition for Dwelling Policy - =Answer>> - DP -1: Coverage A and B settle at ACV -DP-2 and DP-3: Coverage A and B settle at RC 4 most common Dwelling Policy Endorsements - =Answer>>
  1. Liability
  2. Theft (Limited or Broad)
  3. Dwelling under construction
  4. Automatic Increase Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔

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HO Policy Coverage D - Loss of use (Civil Authority) - =Answer>> -Pays for ALE and FRV when civil authority prevents insured from using home -Can include any government entity -Only applies if damage was caused by a covered peril Personal Lines Property Coverage - =Answer>> Intended for personal use such as home or auto Commercial Lines Property Coverage - =Answer>> Intended for business or corporate use such as restaurants or churches Homeowners Insurance Property Coverage - =Answer>> For property inhabited by the insured, their primary residence Homeowners Insurances bundles what type of coverages into one policy - =Answer>> Property and Liability Homeowners Eligibility Requirements - =Answer>> Personal: HO policies are for individuals, not corps, businesses Own & Occupy: For individuals who both own and occupy the residence HO-5 Comprehensive Form - =Answer>> -Provides open perils coverage for structures and personal property

  • Most comprehensive coverage available HO-3 Special Form - =Answer>> -Popular form -Open-peril coverage for dwelling and other structures Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔