ADJUSTER PRO EXAM AND PRACTICE EXAM
2024-2025 ACTUAL EXAM 150 QUESTIONS AND
CORRECT ANSWERS|AREADY GRADED
A+|BRAND NEW!!
Terms in this set (150)
Stu has a collection of rare Monoline Policy
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?
Which of the following It automatically covers wind and vandalism.
statements does NOT
apply to the Standard Fire
Policy?
Which of the following Indemnification
refers to being restored to
the financial condition you
were in
before a loss?
The fee paid by the premium
insured in exchange for an
insurance policy is called
a:
,Haley takes a bottle of Hard fraud
water into a store, pours
some of it on the floor
when no one is
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?
Which settlement option is Advance payment settlement
most often used when a
claimant misses work
because of
bodily injury, but a
settlement has not yet
been reached?
,Cindy and her insurer Mediation
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
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?
When Jeanette shows up fiduciary duty.
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:
Many adjusters prefer knowledgeable
arbitration to litigation,
because professional
arbitrators tend to
be more ___________ than civil
juries.
, Which of the following is It's also called an "advance payment settlement."
NOT true of the no-
release settlement?
Why should litigation be It can be costly and unpredictable
considered a last resort
option?
Which of the following Negotiate a settlement with the claimant
steps would occur LAST in
the processing of a claim?
As an adjuster for KLM protect the financial and property interests of KLM
Insurance, Chrystal has the Insurance
important role of fiduciary
agent.
While acting in this
capacity, Chrystal's
primary responsibility is to:
Because the policyholder (Jane) is 84 years old and
Bobby is adjusting a
seems to have trouble remembering what
complicated auto claim.
happened before the accident, Bobby should feel
Which of the following is
free to contact her 45-year-old caretaker for
TRUE?
clarification.
Jim is an insurance adjuster look for ways to lower the settlement for the claimant.
working a theft claim. As
part of his investigation,
Jim
might want to do all of the
following, EXCEPT:
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