Free Vermont Adjuster's Examination for Property and Casualty Insurance Practice Questions

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These topics describe the available practice for Vermont Adjuster's Examination for Property and Casualty Insurance. Review the examination outline and its sources for scope and allocation details.

• Insurance Regulation

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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)

  • 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

  • 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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