Arkansas Insurance Adjuster Practice Exam

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Ace your Arkansas Insurance Adjuster Exam. Featuring multiple-choice questions, flashcards, and detailed explanations. Ensure your success!

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Assuming Ernie holds a BOP with a Selected Per Occurrence limit of $300,000, what would Ernie's Completed Operations and General Aggregate limits equal?

Completed Operations: $300,000; General Aggregate: $500,000
Completed Operations: $1,000,000; General Aggregate: $1,000,000
Completed Operations: $1,200,000; General Aggregate: $2,000,000
Completed Operations: $600,000; General Aggregate: $600,000

The correct answer is: Completed Operations: $600,000; General Aggregate: $600,000

Ernie's Completed Operations limit would be $300,000 and his General Aggregate limit would also be $300,000. This is because the Completed Operations limit is included in the General Aggregate limit, meaning that the coverage for Completed Operations would not exceed the overall limit of the policy. The other options are incorrect because they either have a higher or lower completed Operations and/or General Aggregate limit than what is provided in the question. Option A has a lower Completed Operations limit, option B has higher limits for both, and option C has a higher Completed Operations limit and a significantly higher General Aggregate limit. Option D is the only one that matches the given information.