Comprehensive Texas All Lines Adjuster with complete solution

Comprehensive Texas All Lines Adjuster with complete solution

Conrad is a contractor with Builders' Risk coverage written on a reported value basis on his current construction job. He started clearing the land on May 1st, digging the basement on May 13th, pouring the foundation on May 31st, blocking the basement walls on June 5th, flooring the first floor above the basement on June 15th, and constructing the walls of the first floor on June 30th. When did Conrad's Builders' Risk policy begin providing coverage? {{Correct Ans- June 15th

The standardized Dwelling forms allow the insured to bring legal action against the insurer if they have complied with all policy provisions and the action is brought within {{Correct Ans- 2 years after the date of the loss

Which of the following is not a covered peril under the Standard Fire policy?

{{Correct Ans- Actions of war

As a fiduciary agent, an adjuster has the power to bind the insurer. Which of the following statements is FALSE regarding this power? {{Correct Ans- Only an adjuster's written statements can legally bind an insurer.

All of the following are examples of unfair claim practices, EXCEPT {{Correct Ans- Making claim payments and stating the coverage under which payment is made

If the Navigational Limits or Lay-Up period shown on the Declarations page of a standardized Yacht policy is breached because of something out of the control of the insured {{Correct Ans- The insurer must be notified within 10 days after the breach and any additional premium that is due must be paid

Which of the following vehicles is considered a temporary substitute auto under a personal auto policy? {{Correct Ans- An auto loaned by the garage while the vehicle of the insured is being repaired