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Vermont Adjuster's Examination for Property and Casualty Insurance — Information & Free Practice

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Vermont Adjuster's Examination for Property and Casualty Insurance

Provider
Prometric
Format
Computer-administered, four-option multiple-choice questions
Exam questions
150 scored questions plus 5 unscored items
Time limit
2.5 hours
Examination outline
  • Insurance Regulation (5%)
    • 1.1 Licensing requirements
    • Licensing requirements — Qualifications (4803(a))
    • Licensing requirements — Process (4800, 4800a)
    • Licensing requirements — Licensing exceptions (4803(d)(2))
    • Licensing requirements — Nonresident adjuster (4803(d))
    • 1.2 Maintenance and duration
    • Maintenance and duration — Renewal (4798, 4800a)
    • Maintenance and duration — Expiration (4798)
    • Maintenance and duration — Records (4803(c))
    • 1.3 Disciplinary actions
    • Disciplinary actions — Denial of license (4800(3)(E))
    • Disciplinary actions — Cease and desist order (3661)
    • Disciplinary actions — Suspension, revocation or nonrenewal (4804; 4806)
    • Disciplinary actions — Fines (4804(d))
    • 1.4 Claims settlement laws and regulations (4724(9);
    • Claims settlement laws and regulations (4724(9); — Reg 79-2 Sec 1-9; Bulletin 162)
    • 1.5 Federal regulation
    • Federal regulation — Fraud and false statements (18 USC 1033, 1034)
  • Insurance Basics (15%)
    • 2.1 Contracts
    • Contracts — Elements of a legal contract
    • Contracts — Elements of a legal contract — Offer and acceptance
    • Contracts — Elements of a legal contract — Consideration
    • Contracts — Elements of a legal contract — Competent parties
    • Contracts — Elements of a legal contract — Legal purpose
    • Contracts — Distinct characteristics of an insurance contract
    • Contracts — Distinct characteristics of an insurance contract — Contract of adhesion
    • Contracts — Distinct characteristics of an insurance contract — Aleatory contract
    • Contracts — Distinct characteristics of an insurance contract — Personal contract
    • Contracts — Distinct characteristics of an insurance contract — Unilateral contract
    • Contracts — Legal interpretations affecting contracts
    • Contracts — Legal interpretations affecting contracts — Ambiguities in a contract of adhesion
    • Contracts — Legal interpretations affecting contracts — Reasonable expectations
    • Contracts — Legal interpretations affecting contracts — Indemnity
    • Contracts — Legal interpretations affecting contracts — Utmost good faith
    • Contracts — Legal interpretations affecting contracts — Representations/misrepresentations
    • Contracts — Legal interpretations affecting contracts — Warranties
    • Contracts — Legal interpretations affecting contracts — Concealment
    • Contracts — Legal interpretations affecting contracts — Fraud
    • Contracts — Legal interpretations affecting contracts — Waiver and estoppel
    • 2.2 Principles and concepts
    • Principles and concepts — Insurable interest
    • Principles and concepts — Hazards
    • Principles and concepts — Hazards — Physical
    • Principles and concepts — Hazards — Moral
    • Principles and concepts — Hazards — Morale
    • Principles and concepts — Negligence
    • Principles and concepts — Negligence — Elements of a negligent act
    • Principles and concepts — Negligence — Defenses against negligence
    • Principles and concepts — Damages
    • Principles and concepts — Damages — Compensatory — special versus general
    • Principles and concepts — Damages — Punitive
    • Principles and concepts — Absolute liability
    • Principles and concepts — Strict liability
    • Principles and concepts — Vicarious liability
    • Principles and concepts — Causes of loss (perils)
    • Principles and concepts — Named perils versus special (open) perils
    • Principles and concepts — Direct loss
    • Principles and concepts — Consequential or indirect loss
    • Principles and concepts — Blanket versus specific insurance
    • Principles and concepts — Basic types of construction
    • Principles and concepts — Loss valuation
    • Principles and concepts — Loss valuation — Actual cash value
    • Principles and concepts — Loss valuation — Replacement cost
    • Principles and concepts — Loss valuation — Functional replacement cost
    • Principles and concepts — Loss valuation — Market value
    • Principles and concepts — Loss valuation — Agreed value
    • Principles and concepts — Loss valuation — Stated amount
    • Principles and concepts — Loss valuation — Valued policy
    • 2.3 Policy structure
    • Policy structure — Declarations
    • Policy structure — Definitions
    • Policy structure — Insuring agreement or clause
    • Policy structure — Additional/supplementary coverage
    • Policy structure — Conditions
    • Policy structure — Exclusions
    • Policy structure — Endorsements
    • 2.4 Common policy provisions
    • Common policy provisions — Insureds — named, first named, additional
    • Common policy provisions — Policy period
    • Common policy provisions — Policy territory
    • Common policy provisions — Cancellation and nonrenewal
    • Common policy provisions — Deductibles
    • Common policy provisions — Other insurance
    • Common policy provisions — Other insurance — Nonconcurrency
    • Common policy provisions — Other insurance — Primary and excess
    • Common policy provisions — Other insurance — Pro rata
    • Common policy provisions — Other insurance — Contribution by equal shares
    • Common policy provisions — Limits of liability
    • Common policy provisions — Limits of liability — Per occurrence (accident)
    • Common policy provisions — Limits of liability — Per person
    • Common policy provisions — Limits of liability — Aggregate — general versus products — completed operations
    • Common policy provisions — Limits of liability — Split
    • Common policy provisions — Limits of liability — Combined single
    • Common policy provisions — Restoration/nonreduction of limits
    • Common policy provisions — Coinsurance
    • Common policy provisions — Vacancy or unoccupancy
    • Common policy provisions — Assignment
    • Common policy provisions — Insurer provisions
    • Common policy provisions — Insurer provisions — Liberalization
    • Common policy provisions — Insurer provisions — Duty to defend
    • Common policy provisions — Third-party provisions
    • Common policy provisions — Third-party provisions — Standard mortgage clause
    • Common policy provisions — Third-party provisions — Loss payable clause
    • Common policy provisions — Third-party provisions — No benefit to Bailee
    • 2.5 Vermont laws, regulations and required
    • Vermont laws, regulations and required — provisions
    • Vermont laws, regulations and required — Vermont Property and Casualty Insurance Guaranty Association (3611–3626)
    • Vermont laws, regulations and required — Renewal notice (3882; 4715)
    • Vermont laws, regulations and required — Cancellation and nonrenewal (3879–3881; 3883; 4711–4714)
    • Vermont laws, regulations and required — Coinsurance (3961–3968)
    • Vermont laws, regulations and required — Pollution coverage (Bul 111)
    • Vermont laws, regulations and required — Required provisions (4203)
  • Adjusting Losses (20%)
    • 3.1 Role of the adjuster
    • Role of the adjuster — Duties and responsibilities
    • Role of the adjuster — Staff and independent adjuster versus public adjuster (4791)
    • Role of the adjuster — Relationship to the legal profession
    • 3.2 Claim reporting
    • Claim reporting — Claim investigation
    • Claim reporting — Claim file documentation of events
    • Claim reporting — Types of reports
    • Claim reporting — Types of reports — Initial or first field
    • Claim reporting — Types of reports — Interim or status
    • Claim reporting — Types of reports — Full formal
    • 3.3 Property losses
    • Property losses — Duties of insured after a loss
    • Property losses — Duties of insured after a loss — Notice to insurer
    • Property losses — Duties of insured after a loss — Minimizing the loss
    • Property losses — Duties of insured after a loss — Proof of loss
    • Property losses — Duties of insured after a loss — Special requirements
    • Property losses — Duties of insured after a loss — Production of books and records
    • Property losses — Duties of insured after a loss — Abandonment
    • Property losses — Determining value and loss
    • Property losses — Determining value and loss — Burden of proof of value and loss
    • Property losses — Determining value and loss — Estimates
    • Property losses — Determining value and loss — Depreciation
    • Property losses — Determining value and loss — Salvage
    • Property losses — Claim settlement options
    • Property losses — Payment and discharge
    • 3.4 Liability losses
    • Liability losses — Investigation procedures
    • Liability losses — Investigation procedures — Verify coverage
    • Liability losses — Investigation procedures — Determine liability
    • Liability losses — Gathering evidence
    • Liability losses — Gathering evidence — Physical evidence
    • Liability losses — Gathering evidence — Witness statements
    • Liability losses — Gathering evidence — Police reports
    • Liability losses — Determining value of intangible damages
    • 3.5 Coverage problems
    • Coverage problems — Dealing with coverage disputes
    • Coverage problems — Dealing with coverage disputes — Reservation of rights letter
    • Coverage problems — Dealing with coverage disputes — Nonwaiver agreement
    • Coverage problems — Dealing with coverage disputes — Declaratory judgment action
    • 3.6 Claims adjustment procedures
    • Claims adjustment procedures — Settlement procedures
    • Claims adjustment procedures — Settlement procedures — Advance payments
    • Claims adjustment procedures — Settlement procedures — Draft authority
    • Claims adjustment procedures — Settlement procedures — Execution of releases
    • Claims adjustment procedures — Subrogation procedures
    • Claims adjustment procedures — Alternative dispute resolution
    • Claims adjustment procedures — Alternative dispute resolution — Appraisal
    • Claims adjustment procedures — Alternative dispute resolution — Arbitration
    • Claims adjustment procedures — Alternative dispute resolution — Competitive estimates
    • Claims adjustment procedures — Alternative dispute resolution — Mediation
    • Claims adjustment procedures — Alternative dispute resolution — Negotiation
  • Dwelling Policy (6%)
    • 4.1 Characteristics and purpose
    • 4.2 Coverage forms — Perils insured against
    • Coverage forms — Perils insured against — Basic
    • Coverage forms — Perils insured against — Broad
    • Coverage forms — Perils insured against — Special
    • 4.3 Property coverages
    • Property coverages — Coverage A — Dwelling
    • Property coverages — Coverage B — Other structures
    • Property coverages — Coverage C — Personal property
    • Property coverages — Coverage D — Fair rental value
    • Property coverages — Coverage E — Additional living expense
    • Property coverages — Other coverages
    • 4.4 General exclusions
    • 4.5 Conditions
    • 4.6 Selected endorsements
    • Selected endorsements — Special provisions — Vermont (DP 01 44)
    • Selected endorsements — Automatic increase in insurance (DP 04 11)
    • Selected endorsements — Broad theft coverage (DP 04 72)
    • Selected endorsements — Dwelling under construction (DP 11 43)
    • 4.7 Personal liability supplement
  • Homeowners Policy (15%)
    • 5.1 Coverage forms
    • Coverage forms — HO-2 through HO-6
    • 5.2 Definitions
    • 5.3 Section I — Property coverages
    • Section I — Property coverages — Coverage A — Dwelling
    • Section I — Property coverages — Coverage B — Other structures
    • Section I — Property coverages — Coverage C — Personal property
    • Section I — Property coverages — Coverage D — Loss of use
    • Section I — Property coverages — Additional coverages
    • 5.4 Section II — Liability coverages
    • Section II — Liability coverages — Coverage E — Personal liability
    • Section II — Liability coverages — Coverage F — Medical payments to others
    • Section II — Liability coverages — Additional coverages
    • 5.5 Perils insured against
    • 5.6 Exclusions
    • 5.7 Conditions
    • 5.8 Selected endorsements
    • Selected endorsements — Special provisions — Vermont (HO 01 44)
    • Selected endorsements — Limited fungi, wet or dry rot, or bacteria coverage — Vermont (HO 04 02)
    • Selected endorsements — Permitted incidental occupancies (HO 04 42)
    • Selected endorsements — Earthquake (HO 04 54)
    • Selected endorsements — Scheduled personal property (HO 04 61)
    • Selected endorsements — Personal property replacement cost (HO 04 90)
    • Selected endorsements — Home day care — Vermont (HO 23 45)
    • Selected endorsements — Business pursuits (HO 24 71)
    • Selected endorsements — Watercraft (HO 24 75)
    • Selected endorsements — Personal injury (HO 24 82)
  • Auto Insurance (12%)
    • 6.1 Laws
    • Laws — Vermont Motor Vehicle Financial Responsibility and Insurance Laws (Title 23 Chapter 11 Sec 800–943)
    • Laws — Vermont Motor Vehicle Financial Responsibility and Insurance Laws (Title 23 Chapter 11 Sec 800–943) — Required limits of liability (Title 23 Chapter 11 Sec 801)
    • Laws — Vermont Motor Vehicle Financial Responsibility and Insurance Laws (Title 23 Chapter 11 Sec 800–943) — Required proof of insurance (Bul 77)
    • Laws — Vermont Automobile Insurance Plan (4241–4246)
    • Laws — Vermont Automobile Insurance Plan (4241–4246) — Eligibility
    • Laws — Vermont Automobile Insurance Plan (4241–4246) — Liability limitations
    • Laws — Vermont Automobile Insurance Plan (4241–4246) — Physical damage coverage limitations
    • Laws — Uninsured/underinsured motorist (Title 23 Chapter 11 Sec 941)
    • Laws — Uninsured/underinsured motorist (Title 23 Chapter 11 Sec 941) — Definitions
    • Laws — Uninsured/underinsured motorist (Title 23 Chapter 11 Sec 941) — Required limits of liability
    • Laws — Uninsured/underinsured motorist (Title 23 Chapter 11 Sec 941) — Bodily injury
    • Laws — Uninsured/underinsured motorist (Title 23 Chapter 11 Sec 941) — Property damage
    • Laws — Cancellation/nonrenewal
    • Laws — Cancellation/nonrenewal — Grounds (4223)
    • Laws — Cancellation/nonrenewal — Notice (4224–4226)
    • 6.2 Personal auto policy
    • Personal auto policy — Definitions
    • Personal auto policy — Liability coverage
    • Personal auto policy — Liability coverage — Bodily injury and property damage
    • Personal auto policy — Liability coverage — Supplementary payments
    • Personal auto policy — Liability coverage — Exclusions
    • Personal auto policy — Liability coverage — Duty to defend
    • Personal auto policy — Medical payments
    • Personal auto policy — Uninsured motorist/underinsured motorist coverage
    • Personal auto policy — Coverage for damage to your auto
    • Personal auto policy — Coverage for damage to your auto — Collision
    • Personal auto policy — Coverage for damage to your auto — Other than collision
    • Personal auto policy — Coverage for damage to your auto — Deductibles
    • Personal auto policy — Coverage for damage to your auto — Transportation expense
    • Personal auto policy — Coverage for damage to your auto — Exclusions
    • Personal auto policy — Duties after an accident or loss
    • Personal auto policy — General provisions
    • Personal auto policy — Selected endorsements
    • Personal auto policy — Selected endorsements — Amendment of policy provisions — Vermont (PP 01 72)
    • Personal auto policy — Selected endorsements — Towing and labor costs (PP 03 03)
    • Personal auto policy — Selected endorsements — Extended non-owned coverage (PP 03 06)
    • Personal auto policy — Selected endorsements — Miscellaneous type vehicle (PP 03 23)
    • Personal auto policy — Selected endorsements — Joint ownership coverage — Vermont (PP 03 80)
    • 6.3 Commercial auto
    • Commercial auto — Commercial auto coverage forms
    • Commercial auto — Commercial auto coverage forms — Business auto
    • Commercial auto — Commercial auto coverage forms — Business auto physical damage
    • Commercial auto — Commercial auto coverage forms — Truckers
    • Commercial auto — Commercial auto coverage forms — Motor carrier
    • Commercial auto — Coverage form sections
    • Commercial auto — Coverage form sections — Covered autos
    • Commercial auto — Coverage form sections — Liability coverage
    • Commercial auto — Coverage form sections — Garagekeepers coverage
    • Commercial auto — Coverage form sections — Trailer interchange coverage
    • Commercial auto — Coverage form sections — Physical damage coverage
    • Commercial auto — Coverage form sections — Exclusions
    • Commercial auto — Coverage form sections — Conditions
    • Commercial auto — Coverage form sections — Definitions
    • Commercial auto — Selected endorsements
    • Commercial auto — Selected endorsements — Lessor — additional insured and loss payee (CA 20 01)
    • Commercial auto — Selected endorsements — Mobile equipment (CA 20 15)
    • Commercial auto — Selected endorsements — Auto medical payments coverage (CA 99 03)
    • Commercial auto — Selected endorsements — Drive other car coverage (CA 99 10)
    • Commercial auto — Selected endorsements — Individual named insured (CA 99 17)
    • Commercial auto — Commercial carrier regulations
    • Commercial auto — Commercial carrier regulations — The Motor Carrier Act of 1980
    • Commercial auto — Commercial carrier regulations — Endorsement for motor carrier policies of insurance for public liability (MCS-90)
  • Commercial Package Policy (CPP) (12%)
    • 7.1 Components of a commercial policy
    • Components of a commercial policy — Common policy declarations
    • Components of a commercial policy — Common policy conditions
    • Components of a commercial policy — Interline endorsements
    • Components of a commercial policy — One or more coverage parts
    • 7.2 Commercial general liability
    • Commercial general liability — Commercial general liability coverage forms
    • Commercial general liability — Commercial general liability coverage forms — Bodily injury and property damage liability
    • Commercial general liability — Commercial general liability coverage forms — Personal and advertising injury liability
    • Commercial general liability — Commercial general liability coverage forms — Medical payments
    • Commercial general liability — Commercial general liability coverage forms — Supplementary payments
    • Commercial general liability — Commercial general liability coverage forms — Who is an insured
    • Commercial general liability — Commercial general liability coverage forms — Limits of liability
    • Commercial general liability — Commercial general liability coverage forms — Conditions
    • Commercial general liability — Commercial general liability coverage forms — Definitions
    • Commercial general liability — Commercial general liability coverage forms — Exclusions
    • Commercial general liability — Premises and operations
    • Commercial general liability — Products and completed operations
    • Commercial general liability — Insured contract
    • 7.3 Commercial property
    • Commercial property — Commercial property conditions form
    • Commercial property — Coverage forms
    • Commercial property — Coverage forms — Building and personal property
    • Commercial property — Coverage forms — Condominium association
    • Commercial property — Coverage forms — Condominium commercial unit-owners
    • Commercial property — Coverage forms — Builders risk
    • Commercial property — Coverage forms — Business income
    • Commercial property — Coverage forms — Extra expense
    • Commercial property — Coverage forms — Legal liability
    • Commercial property — Causes of loss forms
    • Commercial property — Causes of loss forms — Basic
    • Commercial property — Causes of loss forms — Broad
    • Commercial property — Causes of loss forms — Special
    • Commercial property — Selected endorsements
    • Commercial property — Selected endorsements — Ordinance or law (CP 04 05)
    • Commercial property — Selected endorsements — Spoilage (CP 04 40)
    • Commercial property — Selected endorsements — Peak season limit of insurance (CP 12 30)
    • Commercial property — Selected endorsements — Value reporting form (CP 13 10)
    • 7.4 Commercial crime
    • Commercial crime — General definitions
    • Commercial crime — General definitions — Burglary
    • Commercial crime — General definitions — Theft
    • Commercial crime — General definitions — Robbery
    • Commercial crime — Crime coverage forms
    • Commercial crime — Crime coverage forms — Commercial crime coverage forms (discovery/loss sustained)
    • Commercial crime — Crime coverage forms — Government crime coverage forms (discovery/loss sustained)
    • Commercial crime — Coverages
    • Commercial crime — Coverages — Employee theft
    • Commercial crime — Coverages — Forgery or alteration
    • Commercial crime — Coverages — Inside the premises — theft of money and securities
    • Commercial crime — Coverages — Inside the premises — robbery or safe burglary of other property
    • Commercial crime — Coverages — Outside premises
    • Commercial crime — Coverages — Computer fraud
    • Commercial crime — Coverages — Funds transfer fraud
    • Commercial crime — Coverages — Money orders and counterfeit money
    • Commercial crime — Other crime coverage
    • Commercial crime — Other crime coverage — Extortion — commercial entities
    • 7.5 Commercial inland marine
    • Commercial inland marine — Commercial inland marine conditions form
    • Commercial inland marine — Inland marine coverage forms
    • Commercial inland marine — Inland marine coverage forms — Accounts receivable
    • Commercial inland marine — Inland marine coverage forms — Bailee's customers
    • Commercial inland marine — Inland marine coverage forms — Commercial articles
    • Commercial inland marine — Inland marine coverage forms — Contractors equipment floater
    • Commercial inland marine — Inland marine coverage forms — Electronic data processing
    • Commercial inland marine — Inland marine coverage forms — Equipment dealers
    • Commercial inland marine — Inland marine coverage forms — Installation floater
    • Commercial inland marine — Inland marine coverage forms — Jewelers block
    • Commercial inland marine — Inland marine coverage forms — Signs
    • Commercial inland marine — Inland marine coverage forms — Valuable papers and records
    • Commercial inland marine — Transportation coverages
    • Commercial inland marine — Transportation coverages — Common carrier cargo liability
    • Commercial inland marine — Transportation coverages — Motor truck cargo forms
    • Commercial inland marine — Transportation coverages — Transit coverage forms
    • 7.6 Equipment breakdown
    • Equipment breakdown — Equipment breakdown protection coverage form (EB 00 20)
    • Equipment breakdown — Selected endorsement
    • Equipment breakdown — Selected endorsement — Actual cash value (EB 99 59)
    • 7.7 Farm coverage
    • Farm coverage — Farm property coverage forms
    • Farm coverage — Farm property coverage forms — Coverage A — Dwellings
    • Farm coverage — Farm property coverage forms — Coverage B — Other private structures
    • Farm coverage — Farm property coverage forms — Coverage C — Household personal property
    • Farm coverage — Farm property coverage forms — Coverage D — Loss of use
    • Farm coverage — Farm property coverage forms — Coverage E — Scheduled farm personal property
    • Farm coverage — Farm property coverage forms — Coverage F — Unscheduled farm personal property
    • Farm coverage — Farm property coverage forms — Coverage G — Other farm structures
    • Farm coverage — Farm liability coverage form
    • Farm coverage — Farm liability coverage form — Coverage H — Bodily injury and property damage liability
    • Farm coverage — Farm liability coverage form — Coverage I — Personal advertising injury liability
    • Farm coverage — Farm liability coverage form — Coverage J — Medical payments
    • Farm coverage — Mobile agricultural machinery and equipment coverage form
    • Farm coverage — Livestock coverage form
    • Farm coverage — Definitions
    • Farm coverage — Cause of loss (basic, broad and special)
    • Farm coverage — Conditions
    • Farm coverage — Exclusions
    • Farm coverage — Limits
    • Farm coverage — Additional coverages
  • Businessowners Policy (15%)
    • 8.1 Characteristics and purpose
    • 8.2 Businessowners Section I — Property
    • Businessowners Section I — Property — Coverage
    • Businessowners Section I — Property — Exclusions
    • Businessowners Section I — Property — Limits
    • Businessowners Section I — Property — Deductibles
    • Businessowners Section I — Property — Loss conditions
    • Businessowners Section I — Property — General conditions
    • Businessowners Section I — Property — Optional coverages
    • Businessowners Section I — Property — Definitions
    • 8.3 Businessowners Section II — Liability
    • Businessowners Section II — Liability — Coverages
    • Businessowners Section II — Liability — Exclusions
    • Businessowners Section II — Liability — Who is an insured
    • Businessowners Section II — Liability — Limits of insurance
    • Businessowners Section II — Liability — General conditions
    • Businessowners Section II — Liability — Definitions
    • 8.4 Businessowners Section III — Common Policy
    • Businessowners Section III — Common Policy — Conditions
    • 8.5 Selected endorsements
    • Selected endorsements — Protective safeguards (BP 04 30)
    • Selected endorsements — Utility services — direct damage (BP 04 56)
    • Selected endorsements — Utility services — time element (BP 04 57)
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