Exam (elaborations)
Adjusterpro Section-6 Questions And Answers 100% Correct!!! Latest Updated 2024
- Course
- Institution
Adjusterpro Section-6 Questions And Answers 100% Correct!!! Latest Updated 2024
[Show more]
Content preview
Adjusterpro Section-6 Questions AndAnswers 100% Correct!!! Latest Updated
2024
Adjuster's Ethical SItuation - ANSWER✔✔ -Adjuster make frequent decisions
involving larger amounts of money
-Adjusters should always determine a fair and equitable settlement that abides by
the insurance contract
Inducement - ANSWER✔✔ An action, item, or promise made to someone to
motivate them toward certain desired actions
Consequences for Accepting Inducements - ANSWER✔✔ -Losing license
-Reputation Loss
-Lawsuits
-Jail time
Kickbacks - ANSWER✔✔ Money or favors offered to the adjuster in exchange for
referring business to specific repair shops or contractors
Settlement Padding - ANSWER✔✔ Increasing the settlement amount dishonestly
in order to increase commissions
Misappropriating Salvaged Property - ANSWER✔✔ Adjusters must never
misappropriate salvaged property for their own use or the use of others
Adjuster Code of Ethics - ANSWER✔✔ 1. Disclosure
, 2. Equal Treatment
3. Avoid Prejudice
4. Truthfulness
5. Integrity
6. Diligence and Dispatch
7. Reporting Violations
8. Elderly Claimants
9. Attorneys
10. Witnesses
11. Right to Attorney
12. Traumatized Claimants
13. Advising of Rights
14. Release Forms
15. Competence
Adjuster Code Rule #1 Disclosure - ANSWER✔✔ Adjusters shall disclose all
direct or indirect financial interest they have in adjusting a claim
Adjuster Code Rule #2 Equal Treatment - ANSWER✔✔ -An adjuster shall treat all
claimants equally
-Do not favor your nice clients
-Do not disfavor your rude clients
Adjuster Code Rule #3 Avoid Prejudice - ANSWER✔✔ Adjusters must never be
prejudiced in their investigations, adjustments, or settlements
Adjuster Code Rule #4 Truthfulness - ANSWER✔✔ An adjuster shall make
truthful and unbiased reports of the facts after making a complete investigation
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 classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
66579 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now