ADJUSTER PRO OKLAHOMA PRACTICE EXAM 2024 ACTUAL QUESTIONS WITH CORRECT VERIFIED ANSWERS UPDATED AND GRADED A++
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Module
ADJUSTER PRO
Institution
ADJUSTER PRO
ADJUSTER PRO OKLAHOMA PRACTICE EXAM 2024 ACTUAL QUESTIONS WITH CORRECT VERIFIED ANSWERS UPDATED AND GRADED A++
The source of the adjusters authority
In the context of insurance adjusting, who is the principal?
Coverage is not negotiable
When Nancy is pulling into her driveway, she accidentall...
ADJUSTER PRO OKLAHOMA PRACTICE EXAM 2024 ACTUAL
QUESTIONS WITH CORRECT VERIFIED ANSWERS UPDATED
AND GRADED A++
The source of the adjusters authority
In the context of insurance adjusting, who is the principal?
Coverage is not negotiable
When Nancy is pulling into her driveway, she accidentally hit the gas and plowed
through her front wall. She tries to negotiate the claim with the adjuster, why is this not
possible?
True
True or false: assuring a claimant a policy is covered without determining the cause of
loss is considered improperly acting as a fiduciary agent?
Civil disputes between parties
Tort Law
The principle of indemnity
Melindas home sustained $6,500 in damages when Jared ran into it with his truck.
Melinda received $6,599 from her insurance company and Jared also paid her $5,000.
Melinda has now profited from this loss and is in violation of:
A morale hazard
Robby drives likes to race other drivers and isn't concerned with damages because of
his good insurance. Robby's behavior is
Public adjuster
A fiduciary agent of behalf of the claimant
Insured
An individual or organization that pays premiums in exchange for financial protection
Principle of indemnity
Prevents an insured from making a profit
, Policy recission
Public adjuster
Hired by the claimant and paid commission
Susan's business is not similar to her husbands
Susan is a successful plastic surgeon and wants to purchase liability insurance. Her
husband, a teacher, is part of a risk retention group and is quite happy with his
insurance. Susan decides to apply to her husband's group, but her application is denied.
Why is this?
A loss
Ninas home is located in a high crime neighborhood. One day, she comes home from
work to find that her garage door had been vandalized and must be replaced. Nina's
insurer pays her a $2,200 settlement for her claim. The insurer considers the
settlement;
Conditions
Edna loses some of her property in a hailstorm. When an adjuster comes to investigate
the loss, he gives an estimate that Edna thinks is far too low. As negotiations continue,
neither Edna nor the adjuster will budge. Where in Edna's policy would you find the
procedure to follow in this situation?
Adjuster/claimant negotiations
Easiest and least costly negotiation method
The offered must have no more than one stipulation
This does NOT make acceptance of an offer to contract legally enforceable
Conditions
Where would you find this statement in a policy? "The insured must make reasonable
effort to protect the covered property from further damages"
Wind
Janes shed burns down in a tornado, when a tree falls on the roof and snaps a power
line, which then ignited the structure. What is the proximate cause of loss?
Conditions
Where can you find the "duties of the insured after an occurrence"?
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