GA ADJUSTER EXAM REVIEW QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED AND UPDATED GUARANTEED PASS
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Module
GA ADJUSTER
Institution
GA ADJUSTER
GA ADJUSTER EXAM REVIEW QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED AND UPDATED GUARANTEED PASS
In GA, _____insurance cannot be written by a reciprocal type insurer.
life
No insurer or licensee doing business in Georgia may pay any commissions or valuable consideration to any person for service...
GA ADJUSTER EXAM REVIEW QUESTIONS WITH COMPLETE
SOLUTIONS VERIFIED AND UPDATED GUARANTEED PASS
In GA, _____insurance cannot be written by a reciprocal type insurer.
life
No insurer or licensee doing business in Georgia may pay any commissions or
valuable consideration to any person for services as an agent, subagent, or
adjuster unless that person is duly licensed under the
Code
Mediation is not _____ on the parties involved, but with arbitration the decision is
final and _____.
Binding
Standard and Poor's, A.M. Best and Moody's are examples of:
Independent Rating Services
What is the application fee for filing to become a self-insurer for workers
compensation in Georgia?
$500
Insurance adjusters have the "power to bind". Which of the following statements
best describes what this means?
The principal is bound to the decisions of the adjuster.
The perils most frequently covered by a Difference in Conditions policy are:
Flood and Earthquake
What is the purpose of the Georgia Insurance Guaranty Association?
Cover claims of insolvent insurers
Twisting
The act of inducing or attempting to induce a policy owner to drop an existing life
insurance policy and to take another policy that is substantially the same kind by using
misrepresentations or incomplete comparisons of the advantages and disadvantages of
the two policies. Most states have enacted legislation making twisting a crime.
, Churning
Churning occurs when an insurance agent replaces a policyholder's insurance policy for
another insurance policy, usually without consulting the policyholder and often with no
changes to the coverage itself. Agents who engage in churning do so in order to secure
an additional commission for the new policy they swap in.
Rebating
Rebating — a portion of the premium or the agent's/broker's commission on the
premium to the insured or other inducements to place business with a specific insurer.
Rebating is illegal in the majority of states. Insurers must use filed rate credits or have
supporting methodology.
Uninsured motorist coverage law in Georgia applies to bodily injury claims
sustained by an insured and caused by an uninsured motorist as defined by the
law. UMPD coverage is also included.
In Georgia, the Chief Deputy Commissioner must execute a bond in the amount
of:
$15,000
Adjusters must maintain record of each investigation or adjustment undertaken,
and a statement of any fee, commission, or other compensation received or to be
received on account of the investigation or adjustment. How long must the
records be maintained for examination?
5
The limits of the Employers' Liability section of a standard workers'
compensation policy are:
Listed on the information page
An insured has purchased BAP physical damage coverage against specified
causes of loss. Protection applies to all of the following perils, EXCEPT:
Falling objects
Which of the following statements is NOT TRUE of the Builders' Risk coverage
form?
T
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