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All-Lines Insurance Adjuster Exam (Texas and Florida 6-20)

Commercial, marine and specialty lines: practice questions

Our Insurance adjuster (all lines) bank has 30 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1

According to TDI, business interruption payments typically begin:

  1. 24 to 48 hours after the loss, or after a deductible
  2. The day the insured files the written claim
  3. Only after the building is fully rebuilt and reopened
  4. 30 days after the loss
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A. 24 to 48 hours after the loss, or after a deductible — TDI: payments typically begin 24 to 48 hours after the loss occurs or after you pay a deductible.

Question 2

Employee theft (formerly employee dishonesty) coverage protects the employer against:

  1. Lawsuits by employees for discrimination
  2. Theft of its property by its own employees
  3. Injuries to employees on the job and their lost wages
  4. Losses caused by independent contractors' negligence
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B. Theft of its property by its own employees — Employee theft coverage pays for theft by employees acting alone or in collusion, a first-party crime coverage.

Question 3

According to TDI, business income coverage is based on:

  1. The business's gross sales for the prior year only
  2. The replacement cost of the damaged building and equipment
  3. The owner's personal income tax return
  4. Net profit or loss before taxes plus continuing normal operating expenses, including payroll
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D. Net profit or loss before taxes plus continuing normal operating expenses, including payroll — TDI business interruption guide: business income is net profit or loss before taxes and continuing normal operating expenses, including payroll.

Question 4

A fidelity bond protects an employer against:

  1. Dishonest acts of employees
  2. Contractor default on a project
  3. Court judgments against the employer
  4. Customer injuries
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A. Dishonest acts of employees — Fidelity bonds (now often employee theft coverage) protect against loss from employee dishonesty.

Question 5

Protection and indemnity (P&I) coverage in ocean marine insurance is:

  1. The shipowner's liability coverage
  2. Property coverage for the cargo
  3. Coverage for the ship's hull against storms
  4. A bond guaranteeing the ship's on-time delivery of all cargo
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A. The shipowner's liability coverage — P&I is the shipowner's broad liability coverage, including bodily injury, crew injuries and damage to fixed objects.

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