GA Adjuster Exam Review
Study online at https://quizlet.com/_8hwphj
1. In GA, _____insurance life
cannot be written by
a reciprocal type in-
surer.
2. No insurer or li- Code
censee doing busi-
ness in Georgia may
pay any commissions
or valuable consid-
eration to any per-
son for services as
an agent, subagent,
or adjuster unless
that person is duly li-
censed under the
3. Mediation is not _____ Binding
on the parties in-
volved, but with arbi-
tration the decision is
final and _____.
4. Standard and Poor's, Independent Rating Services
A.M. Best and
Moody's are exam-
ples of:
5. What is the applica- $500
tion fee for filing to
become a self-insur-
er for workers com-
, GA Adjuster Exam Review
Study online at https://quizlet.com/_8hwphj
pensation in Geor-
gia?
6. Insurance adjusters The principal is bound to the decisions of the adjuster.
have the "power to
bind". Which of the
following statements
best describes what
this means?
7. The perils most fre- Flood and Earthquake
quently covered by a
Difference in Condi-
tions policy are:
8. What is the purpose Cover claims of insolvent insurers
of the Georgia Insur-
ance Guaranty Asso-
ciation?
9. Twisting The act of inducing or attempting to induce a policy owner to drop an
existing life insurance policy and to take another policy that is substantially
the same kind by using misrepresentations or incomplete comparisons of the
advantages and disadvantages of the two policies. Most states have enacted
legislation making twisting a crime.
10. Churning Churning occurs when an insurance agent replaces a policyholder's in-
surance policy for another insurance policy, usually without consulting the
policyholder and often with no changes to the coverage itself. Agents who
engage in churning do so in order to secure an additional commission for
the new policy they swap in.
11. Rebating
, GA Adjuster Exam Review
Study online at https://quizlet.com/_8hwphj
Rebating — a portion of the premium or the agent's/broker's commission
on the premium to the insured or other inducements to place business with
a specific insurer. Rebating is illegal in the majority of states. Insurers must
use filed rate credits or have supporting methodology.
12. Uninsured motorist
coverage law in Geor-
gia applies to bodi-
ly injury claims sus-
tained by an insured
and caused by an
uninsured motorist
as defined by the
law. UMPD coverage
is also included.
13. In Georgia, the Chief $15,000
Deputy Commission-
er must execute a
bond in the amount
of:
14. Adjusters must main- 5
tain record of each
investigation or ad-
justment undertak-
en, and a statement
of any fee, commis-
sion, or other com-
pensation received
or to be received on
account of the in-
Study online at https://quizlet.com/_8hwphj
1. In GA, _____insurance life
cannot be written by
a reciprocal type in-
surer.
2. No insurer or li- Code
censee doing busi-
ness in Georgia may
pay any commissions
or valuable consid-
eration to any per-
son for services as
an agent, subagent,
or adjuster unless
that person is duly li-
censed under the
3. Mediation is not _____ Binding
on the parties in-
volved, but with arbi-
tration the decision is
final and _____.
4. Standard and Poor's, Independent Rating Services
A.M. Best and
Moody's are exam-
ples of:
5. What is the applica- $500
tion fee for filing to
become a self-insur-
er for workers com-
, GA Adjuster Exam Review
Study online at https://quizlet.com/_8hwphj
pensation in Geor-
gia?
6. Insurance adjusters The principal is bound to the decisions of the adjuster.
have the "power to
bind". Which of the
following statements
best describes what
this means?
7. The perils most fre- Flood and Earthquake
quently covered by a
Difference in Condi-
tions policy are:
8. What is the purpose Cover claims of insolvent insurers
of the Georgia Insur-
ance Guaranty Asso-
ciation?
9. Twisting The act of inducing or attempting to induce a policy owner to drop an
existing life insurance policy and to take another policy that is substantially
the same kind by using misrepresentations or incomplete comparisons of the
advantages and disadvantages of the two policies. Most states have enacted
legislation making twisting a crime.
10. Churning Churning occurs when an insurance agent replaces a policyholder's in-
surance policy for another insurance policy, usually without consulting the
policyholder and often with no changes to the coverage itself. Agents who
engage in churning do so in order to secure an additional commission for
the new policy they swap in.
11. Rebating
, GA Adjuster Exam Review
Study online at https://quizlet.com/_8hwphj
Rebating — a portion of the premium or the agent's/broker's commission
on the premium to the insured or other inducements to place business with
a specific insurer. Rebating is illegal in the majority of states. Insurers must
use filed rate credits or have supporting methodology.
12. Uninsured motorist
coverage law in Geor-
gia applies to bodi-
ly injury claims sus-
tained by an insured
and caused by an
uninsured motorist
as defined by the
law. UMPD coverage
is also included.
13. In Georgia, the Chief $15,000
Deputy Commission-
er must execute a
bond in the amount
of:
14. Adjusters must main- 5
tain record of each
investigation or ad-
justment undertak-
en, and a statement
of any fee, commis-
sion, or other com-
pensation received
or to be received on
account of the in-
