Ace the North Carolina Adjuster Exam 2025 – Adjust and Triumph with Confidence!

Question: 1 / 400

In order to be considered "fully insured" at 80% or more, how much coverage must Richard carry on his home valued at $300,000?

$300,000

$240,000

To determine the amount of coverage Richard must carry on his home to be considered "fully insured" at 80% or more, you need to calculate 80% of the home's value.

The home's value is $300,000. To find 80% of this value, multiply $300,000 by 0.80:

$300,000 x 0.80 = $240,000.

This calculation shows that Richard must carry at least $240,000 in coverage. Carrying this amount ensures that he meets the 80% threshold necessary to avoid penalties in the event of a claim, ensuring he is adequately protected and can fully benefit from his policy if the need arises.

This understanding is crucial for anyone in the insurance field, as it highlights the importance of maintaining appropriate coverage levels to safeguard against potential losses effectively.

Get further explanation with Examzify DeepDiveBeta

$180,000

$260,000

Next Question

Report this question

Download North Carolina Adjuster Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy