Adjuster Pro Practice Exam; QUESTIONS AND
ANSWERS 100% SOLVED
Stu has a collection of rare comic books. He wants to purchase theft insurance
for his
collection, separate from his home and other property. What term most
accurately
describes the type of policy Stu would purchase? - ANSWER-Mo...
Adjuster Pro Practice Exam; QUESTIONS AND
ANSWERS 100% SOLVED
Stu has a collection of rare comic books. He wants to purchase theft insurance
for his
collection, separate from his home and other property. What term most
accurately
describes the type of policy Stu would purchase? - ANSWER-Monoline Policy
Which of the following statements does NOT apply to the Standard Fire Policy? -
ANSWER-It
automatically covers wind and vandalism.
Which of the following refers to being restored to the financial condition you
were in
before a loss? - ANSWER-Indemnification
The fee paid by the insured in exchange for an insurance policy is called a: -
ANSWER-premium
Haley takes a bottle of water into a store, pours some of it on the floor when no
one is
, Adjuster Pro Practice Exam; QUESTIONS AND
ANSWERS 100% SOLVED
looking, and then pretends to slip and fall. She cries out for help in apparent
pain
until someone comes to her aid. She then sues the store for her fake injury in an
effort to collect an insurance settlement. What has Haley committed? -
ANSWER-Hard fraud
Which settlement option is most often used when a claimant misses work
because of
bodily injury, but a settlement has not yet been reached? - ANSWER-Advance
payment
settlement
Cindy and her insurer cannot reach an agreement for her property claim, and
have
gone back and forth for weeks without coming within $10,000 of each other. At
this
point, since both believe they are offering a fair settlement, a third party is
needed to
, Adjuster Pro Practice Exam; QUESTIONS AND
ANSWERS 100% SOLVED
help facilitate the negotiation. Both parties still want to retain their ability to
"walkaway" if they
cannot reach an agreement. What is the next best step for Cindy and her
insurer? - ANSWERMediation
When Jeanette shows up to handle a claim on behalf of ABC Insurance, she
evaluates
the claim and negotiates a settlement. Maintaining her integrity and acting
ethically,
Jeanette is fulfilling her: - ANSWER-fiduciary duty.
Many adjusters prefer arbitration to litigation, because professional arbitrators
tend to
be more ___________ than civil juries. - ANSWER-knowledgeable
Which of the following is NOT true of the no-release settlement? - ANSWER-It's
also called an
"advance payment settlement."
, Adjuster Pro Practice Exam; QUESTIONS AND
ANSWERS 100% SOLVED
Why should litigation be considered a last resort option? - ANSWER-It can be
costly and
unpredictable
Which of the following steps would occur LAST in the processing of a claim? -
ANSWERNegotiate a settlement with the claimant
As an adjuster for KLM Insurance, Chrystal has the important role of fiduciary
agent.
While acting in this capacity, Chrystal's primary responsibility is to: - ANSWER-
protect the
financial and property interests of KLM Insurance
Bobby is adjusting a complicated auto claim. Which of the following is TRUE? -
ANSWERBecause the policyholder (Jane) is 84 years old and seems to have
trouble remembering what
happened before the accident, Bobby should feel free to contact her 45-year-old
caretaker for
clarification.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TheeGrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.49. You're not tied to anything after your purchase.
