la claims adjuster property and causality practice
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Name: Score:
209 Multiple choice questions
Definition 1 of 209
Which statement is true about the "per occurrence" limits of liability under a Commercial General
Liability policy?
The per occurrence limits of liability are the maximum amounts to be paid in the event of a
covered loss.
The per occurrence limits of liability are determined by the insured's credit score.
The per occurrence limits of liability only apply to property damage claims.
The per occurrence limits of liability are the minimum amounts required for coverage.
Definition 2 of 209
what does the insurer do when the insured has possibly waived his or her rights in a liability claim
Waiver agreement
Discovery provision
Insurable interest
Reservation of rights letter
,Term 3 of 209
Only with written consent of the insurer
Trenton has just landed his plane and it is still moving very quickly down the runway when
another plane crashes into the side of his plane and causes extensive damage. For the
purposes of Aviation coverage, this occurrence took place while Trenton's plane was:
A flood has struck the state of Louisiana. The insurer must determine value and loss under a
homeowner policy using which of the following procedures?
In Louisiana, a person who commits a fraudulent insurance act may be fined up to ___ and
imprisoned for up to ___ years, or both.
When can an insured assign his or her insurance policy over to another party?
Definition 4 of 209
An insured carries aircraft liability coverage with "admitted aircraft liability coverage." Who
negotiates the payment of the claim if a passenger is injured in an accident?
appraisal
: The Insurer
the conditions
freight insurance
,Definition 5 of 209
If a Louisiana adjuster commits one or more of the following violations, what is the usual penalty
be per violation?
Providing incorrect, misleading, incomplete, or materially false information in the license
application.
Violating any state insurance law or regulation or a subpoena or order of the Commissioner of
Insurance or of another state's insurance Commissioner.
Obtaining or attempting to obtain a license through misrepresentation or fraud.
Improperly withholding, misappropriating, or converting any money or property received in the
course of conducting insurance business.
Intentionally misrepresenting the terms of an actual or proposed insurance contract or
application for insurance.
Conviction of a felony related to the adjustment of insurance claims.
Admitting to or committing fraud or unfair trade practices.
Using fraudulent, coercive, or dishonest practices.
250
$5,000
500
$250
Definition 6 of 209
Under a commercial inland marine form, which of the following is true regarding the appraisal
clause?
The insured can ignore the appraisers' decision if they disagree.
It is not binding to all parties
The insurer is bound by the decision of the appraisers or umpire
The appraisers must be chosen by the insured only.
, Definition 7 of 209
The penalty for failure to satisfy a coinsurance requirement of a property insurance policy is:
Only losses exceeding the deductible will be compensated.
The entire loss will be paid regardless of the policy limits.
Only a portion of a partial loss will be paid..
No payment will be made for any losses incurred.
Definition 8 of 209
Mary intentionally trips her neighbor while the neighbor is trespassing on the insured's property.
Although the neighbor is not injured, Mary gives the neighbor $500 in cash to settle any potential
liability claim. How will Mary's insurance company most likely respond in this situation?
The motor carrier form.
The insurer will deny liability coverage because Mary's action was intentional.
The insurer will sue the neighbor for the return of the $500 because the neighbor was not
injured.
The cost of restoring lost information with A limit of 2500
Definition 9 of 209
An insured with auto limits of 10/20/10 causes bodily injuries to a third party of $8,000. After losing
in court he has defense costs of $5,000. What is the insurance company's responsibility to pay?
$12,400
$10,000
$13,000
$12,800
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