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State Insurance Claims Adjuster- Pro Certification
2024- 2025
Adjuster- Pro Exam Section 2 Comprehensive
Review Study Guide | 100% Pass Guaranteed |
Graded A+ |
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
Agent - =Answer>> one who receives the authority to
act on behalf of someone else
Sales agent - =Answer>> Contracted to sell and
service insurance policies on behalf of the insurer
Adjusters - =Answer>> Contracted to settle claims
that arise against the insurer
Power to bind - =Answer>> What the agent says or
does can bind the insurer
Agents should take the utmost care in what they do
and say
Even if the agent makes mistakes, the insurer may
have to accept them
Responsibilities of an Agent - =Answer>> Adhere to or
follow the contract
Use reasonable judgement
Provide all necessary information and documentation to
the insurer
Three types of authority - =Answer>> express,
implied, apparent
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Express Authority - =Answer>> Authority directly
granted to an agent via the contract:
-sell policies
-collect premiums
-issue binders
-offer discounts
-cancel insurance
Implied Authority - =Answer>> A form of indirect
authority
The authority that the public reasonably believes the
agent to have
-portraying self as a representative
-wearing a name tag with a company logo
-handing out company business cards
-words and actions that go hand in hand with express
authority and are usually in order to perform an agents
duties
Apparent Authority - =Answer>> when the insurer
does not correct its agent even when the agent may be
acting in error
-granted when the insurer does not act
-by correcting the agent, the insurer implies consent
The Four Types of Sales Agents - =Answer>>
Independent agent
Exclusive agent
General agent
Direct writer
Independent agent - =Answer>> -self employed
-offer insurance from more than one company at a time
-they can compare and give rate quotes from different
companies
-find a policy that suits the customer
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Exclusive agent - =Answer>> -Also called captive
agent
-Commissioned
-Represents only one insurer and only their policies
General agent - =Answer>> -works for one insurance
company
-trains and supervises agent for that company
Direct writer - =Answer>> -salaried employee
-works for one company
Claimant - =Answer>> an individual or business that
makes a claim for payment after a loss occurs
Claim Function - =Answer>> The part of the insurance
contract that lets the insurer fulfill its promises to the
insured.
Adjusting - =Answer>> The process of comparing a
claimant's losses to the promises made in an insurance
policy
Insurance adjuster - =Answer>> An agent who
processes insurance claims for a salary, a fee, or
commission
Who does the adjuster work for? - =Answer>> -an
insurer
-a private company
-an adjusting company (adjusting bureau)
-the claimant
*adjusters can work for the insured or the insurer*
Staff Adjuster - =Answer>> -employed by only one
insurer
-salaried employees
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