N.c. Claims Adjuster Exam Q&as Latest Update 2023 (329qs With 100% Correct Answers)

Medical Payments (Part B) (Automobile Insurance) {Ans: Covers the named insured, family members or any other person while occupying an insured vehicle (med pay is an ineligible coverage on motorcycles). It also covers the named insured and family members even as pedestrians. The limits apply per person, per accident and will pay all expenses incurred within 3 years. Medical payments is referred to as 1st party coverage.}Underinsured Motorist Coverage (UIM) {Ans: Is available and applies when the "at fault" driver's liability limit for BI is less than the damaged caused by the accident. Currently, UIM must be included on policies with liability limits greater than 30/60.}Personal Property Replacement Cost Endorsement {Ans: Applies to all items insured under Coverage C and to awnings, carpeting, household appliances and outdoor equipment. This will provide "new for old" settlement for all such items except for fine art, etc. When the replacement cost for the entire loss is greater than $500, the insurer will only pay ACV until the actual repair or replacement is completed.}Broad Form (Building and Personal Property Coverage) covers: {Ans: Breakage of glass by vandalism ($100 per plate/$500 per occurrence), covers all that the basic form covers, falling