100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
CA ADJUSTERS LICENSE PSI EXAM LATEST UPDATED 200 QUESTIONS WITH DETAILED VERIFIED AND 100% CORRECT ANSWERS AND EXPLANATIONS BRAND NEW EXAM GRADED A+£15.88
Add to cart
CA ADJUSTERS LICENSE PSI EXAM
2024-2025 LATEST UPDATED
200 QUESTIONS WITH DETAILED
VERIFIED AND 100% CORRECT
ANSWERS AND EXPLANATIONS
BRAND NEW EXAM GRADED A+
Rudy, a licensed California adjuster, has received a letter
from a claimant requesting information about a claim.
Rudy is required to respond within:
Answer Choices: Select the Correct Answer 30
calendar days.
15 working days.
15 calendar days.
10 days. - ....ANSWER...15 calendar days. is correct.
EXPLANATION:
Upon receiving any communication from a claimant,
regarding a claim, that reasonably suggests that a
response is expected, every licensee must immediately,
but in no event more than 15 calendar days after receipt
of that communication, furnish the claimant with a
complete response based on the facts as then known by
the licensee.
1
,2|Page
The "when more than one coverage applies"
condition in crime insurance is designed to:
Answer Choices: Select the Correct Answer
Specifies how a claim would be allocated among the
different insurers.
Allow the insured to choose the company that will pay
the claim.
Provide for subrogation of a claim. Avoid
overpayment of a claim. -
....ANSWER...Specifies how a claim would be
allocated among the different insurers. is correct.
EXPLANATION:
The purpose of the clause is to specify how a claim would
be allocated among the different insurers.
A large tree has fallen into Paul's yard caused by wind.
The claims service representative advises Paul to call a
contractor to remove the tree and send the insurance
company the bill. The bill is $1,200.
However, the policy coverage for the debris removal of a
tree that has fallen by wind is only $500 unless the tree
hits the house, which was not the case.
What should the adjuster do?
Answer Choices: Select the Correct Answer
Pay only $500
Pay the $1,200
2
,3|Page
Explain the policy provisions and ask to insured to
reimburse the insurer for the difference
Negotiate - ....ANSWER...Pay the $1,200 is correct.
EXPLANATION:
The consumer relied on the statements of the claims
representative so the insurance company would be
estopped from denying the claim. The insurer had already
waived its right to deny full payment of the claim because
of the statements of the claims representative. Therefore,
the $1,200 should be paid.
Under the commercial general liability policy,
medical payment expenses must be:
Answer Choices: Select the Correct Answer
Reported within one year of the accident.
Paid within one year of the accident. Reported
within two year of the accident. Paid within
three years of the accident -
....ANSWER...Reported within one year of the
accident. is correct.
EXPLANATION:
It is required in the policy that the expenses are incurred
and reported to the insurer within one (1) year of the
date of the accident.
A ship has negligently collided with another ship and
3
, 4|Page
caused severe damage. What coverage would apply to
cover this claim?
Answer Choices: Select the Correct Answer Hull
insurance with the "running down clause".
Protection and Indemnity.
Inchmaree clause.
Towage clause. - ....ANSWER...Hull insurance with the
"running down clause". is correct.
EXPLANATION:
Hull insurance with the "running down clause" would
respond to cover this claim.
A license issued by the Commissioner that contains certain
conditions is called:
Answer Choices: Select the Correct Answer A
restricted license.
A temporary license.
A surplus lines license.
A non-restricted license. - ....ANSWER...A restricted
license. is correct.
EXPLANATION:
A restricted license is a license that is issued by the
Commissioner with reasonable restrictions on the license
and license holder.
An insured has $500 cash stolen from her home. How
4
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 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 EliteExamsPlug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £15.88. You're not tied to anything after your purchase.
