Oklahoma adjuster Study guides, Class notes & Summaries

All of the following statements are TRUE regarding a proof of loss statement, EXCEPT: - ANSWERSA proof of loss is also known as a loss notice The "loss notice" is NOT the formal proof of loss. The loss notice is provided by the insured to the agent or insurer as soon as possible after the loss has occurred. Which of the following acts is NOT considered to be "transacting insurance" within the state of Oklahoma? - ANSWERSTaking an agency's incoming payments, sometimes containing premiu...

Oklahoma Adjuster Review Questions and Answers 100% CorrectOklahoma Adjuster Review Questions and Answers 100% CorrectOklahoma Adjuster Review Questions and Answers 100% CorrectOklahoma Adjuster Review Questions and Answers 100% Correct the commissioner must examine every domestic insurer and every foreign insurer at least one every ______ years - ANSWER-5 years maximum penalty for acting on a revoked, suspend license is $______ and up to five years in jail - ANSWER-$5,000 written proof...

Oklahoma Adjuster Exam #2 questions with complete solutions 2024/2025 An individual applied for auto insurance and obtained coverage from EMU Insurance Company. Who is the first party in the contract? - Correct Answer The Insured If a fire hazard causes damage to a building, the fire is? - Correct Answer A peril wearing a seatbelt in a car is an example of which method or managing risk? - Correct Answer Reduce Tiffany leaves her car unlocked when she goes shopping. She figures her c...

the commissioner must examine every domestic insurer and every foreign insurer at least one every ______ years - ANSWERS5 years maximum penalty for acting on a revoked, suspend license is $______ and up to five years in jail - ANSWERS$5,000 written proof of loss must be sent to insurer within ______ days of loss - ANSWERS60 days insurer must respond by settling or rejecting claim within ______ days after receiving notice from insured - ANSWERS60 Days records must be retained for at l...

the commissioner must examine every domestic insurer and every foreign insurer at least one every ______ years - ANSWERS5 years maximum penalty for acting on a revoked, suspend license is $______ and up to five years in jail - ANSWERS$5,000 written proof of loss must be sent to insurer within ______ days of loss - ANSWERS60 days insurer must respond by settling or rejecting claim within ______ days after receiving notice from insured - ANSWERS60 Days records must be retained for at l...

An individual applied for auto insurance and obtained coverage from EMU Insurance Company. Who is the first party in the contract? - ANSWER-The Insured If a fire hazard causes damage to a building, the fire is? - ANSWER-A peril wearing a seatbelt in a car is an example of which method or managing risk? - ANSWER-Reduce Tiffany leaves her car unlocked when she goes shopping. She figures her car and its contents are insured, so there is no reason to worry. Which type of hazard is this an e...

the commissioner must examine every domestic insurer and every foreign insurer at least one every ______ years - ANSWERS5 years maximum penalty for acting on a revoked, suspend license is $______ and up to five years in jail - ANSWERS$5,000 written proof of loss must be sent to insurer within ______ days of loss - ANSWERS60 days insurer must respond by settling or rejecting claim within ______ days after receiving notice from insured - ANSWERS60 Days records must be retained for at l...

Oklahoma Adjuster's Exam Questions and Answers 100% CorrectOklahoma Adjuster's Exam Questions and Answers 100% CorrectOklahoma Adjuster's Exam Questions and Answers 100% CorrectOklahoma Adjuster's Exam Questions and Answers 100% CorrectOklahoma Adjuster's Exam Questions and Answers 100% Correct Underwriter - ANSWER-A person who selects risk for the insurer is Appointed by the gov - ANSWER-all of the following are true regarding the Oklahoma Insurance Commissioner EXCEPT Issued as oft...

All of the following statements are TRUE regarding a proof of loss statement, EXCEPT: - ANSWER-A proof of loss is also known as a loss notice The "loss notice" is NOT the formal proof of loss. The loss notice is provided by the insured to the agent or insurer as soon as possible after the loss has occurred. Which of the following acts is NOT considered to be "transacting insurance" within the state of Oklahoma? - ANSWER-Taking an agency's incoming payments, sometimes containing premiu...

Underwriter - ANSWERSA person who selects risk for the insurer is Appointed by the gov - ANSWERSall of the following are true regarding the Oklahoma Insurance Commissioner EXCEPT Issued as often as necessary - ANSWERSRegarding the Oklahoma Insurance Department promulgating Rules and Regulations, which of the following is true? Glen Mulready - ANSWERSwho is the Oklahoma Insurance commissioner Receive new business from an eligible surplus lines broker - ANSWERSXYX insurance company is ...