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INSURANCE ADJUSTER EXAM QUESTIONS WITH ACCURATE SOLUTION 100% CORRECT/ LATEST 2024
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INSURANCE ADJUSTER EXAM QUESTIONS WITH ACCURATE SOLUTION 100% CORRECT/ LATEST 2024

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  • 29 juni 2024
  • 14
  • 2023/2024
  • Tentamen (uitwerkingen)
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  • insurance adjuster exam
  • insurance adjuster
  • insurance
  • insurance adjuster exam questions with accurate so
  • insurance adjuster exam 2024

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  • INSURANCE ADJUSTER
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Voorbeeld van de inhoud

INSURANCE ADJUSTER EXAM QUESTIONS WITH ACCURATE
SOLUTION 100% CORRECT/ LATEST 2024
1. Which kind of losses are covered under a standard fire policy?: Direct
2. All fires are not covered by the Standard Fire policies, only those that:: are hostile
and have a flame or glow
3. At what time does a fire policy go into affect?: 12:01am standard time at the location
of the insured's property
4. A property is insured under two Standard Fire policies for $25,000 each. A fire
causes $10,000 worth of damage. What is the maximum amount the insured may
collect under each policy?: $5,000
5. A fire burning in the middle of the living room would be considered:: a hostile fire
6. An insured's house is damaged by fire caused by a neighbor's negligence. The
insurance company will attempt to recover damage from the neighbor. This is called::
subrogation
7. Which of the following statements are true concerning requirements of the standard
fire policy?: The insured must separate damaged from undamaged property in the event
there is a loss AND If a loss occurs, the insured normally has 60 days to file a proof of loss
with the insurer
8. Which types of property are excluded from coverage under the basic fire policy?:
accounts, currency, deeds, and securities
9. Who is insured under the Standard Fire policy?: the named insured and his legal
representatives
10. An agreement which affords temporary insurance protection until the policy is
issued is called:: a binder
11. as a general rule, a complete fire insurance policy would be made up of:: the
Standard Fire policy with one or more forms attached
12. The one condition listed below which will not void a fire policy:
a) false swearing
b) misrepresentation
c) over-insurance
d) concealment: over-insurance
13. replacement cost minus depreciation:: Actual Cash Value (ACV)
14. The Standard Fire policy with an extended coverage endorsement attached covers
which of the following:: riot
15. A loss due to order of Civil Authority:: is excluded unless the loss occurs because
of an order by Civil Authorities for the purpose of controlling a fire
16. The term "unoccupancy" refers to the absence of :: persons from a building
17. Suppose a fire occurs on February 26th. On April 30th, the insurance company
notifies the mortgagee the insured has not filed a proof of loss. To





, protect their interest, the mortgagee must file a proof of loss within days after what
date?: 60 days after April 30th
18. For recovery under the Standard Fire policy, a party must:: be named in the policy
and show an insurable interest in the property at the time the loss occurs
19. What is the requirement on how much experience one must have to be elected
the insurance commissioner in Georgia?: None
20. Once elected, how long is the insurance commissioner's term?: 4 years
21. Is there a limit on the number of terms an insurance commissioner can serve?: No
22. Who is Georgia's current insurance commissioner?: Ralph Hudgens
23. What two capacities does Georgia's insurance commissioner serve?: 1. Chief
Officer of Insurance Dept.
2. Chief Fire Marshall
24. What happens if the Insurance Commissioner has to resign early?: No election;
the Chief Deputy will take over
25. What is the requirement to serve as Chief Deputy in Georgia?: must have a bond in
the amount of $15,000
26. If you are a domestic insurer in Georgia, how often does code say your financials
must be examined?: once every 5 years
27. Only one court in Georgia has the right to overturn the decision of the Insurance
Commissioner. Which is it?: Superior Court of Fulton County
28. What certificate is required for a company to be an authorized insurer in Georgia?:
Certificate of Authority
29. Surplus Lines Risk: has been rejected by 3 authorized insurers
30. What is the primary reason the state of Georgia would revoke an insurance
company's certificate to authorize?: if they're under financial distress
31. What are the requirements to be a licensed producer in Georgia?: must be at least 18
years old, take a 40 hour course, pass licensing exam, apply for license, pass background
check
32. Which of the following would be considered an "offer"?: the applicant sub- mits an
application to the company with payment
33. All of the following are true about insurable risk except:
a) the loss must not be catastrophic in nature
b) the loss must be large enough to create hardship
c) the loss must not be definite and definable
d) the law of large numbers should apply: c) the loss must not be definite and definable
34. all of the following are parts of the insurance contract except:
a) declarations

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