GENERAL PROPERTY AND CASUALTY
INSURANCE PRODUCT KNOWLEDGE
PERTINENT TO ADJUSTERS |
COMPREHENSIVE EXAM PREP, PRACTICE
QUESTIONS, CORRECT ANSWERS AND
STUDY GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
, All fires are not covered by the Standard Fire policies, only are hostile and have a flame or glow
those that:
At what time does a fire policy go into affect? 12:01 am standard time
SFP exclusions accounts, bills, currency, deeds, evidences of debt, money, or securities.
loss by fire or other covered perils caused by a series of specifically listed war perils
including insurrection, rebellion, revolution, and civil war.
negligence to save property
SFP limitations The policy is void in the event of fraud, concealment, or misrepresentation by the insured
related to the policy, whether it occurs before or after a loss.
Proof of Loss of SFP the time and origin of the loss
the actual cash value of each item and the amount of loss it sustained
verified plans and specifications of any building, fixtures, or machinery destroyed or
damaged.
etc..
Loss Requirements and Inventories of SFP the insured making a claim is required to produce for examination all books of account,
bills, invoices and other vouchers or copies thereof.
Appraisal of SFP if insurer and insured can't agree on ACV. They both select a appraiser, who then selects
an umpire, which the judge selects. Insure and Insured split costs of umpire.
Replacement Costs of SFP covers property to the extent of it actual cash value at the time of loss, but not exceeding
the amount which it would cost to repair or replace the property.
PAP The personal auto policy specifies the liability, medical payments, uninsured motorists,
and physical damage coverages, as well as the named insured's duties after a loss. It
includes other general provisions.
INSURANCE PRODUCT KNOWLEDGE
PERTINENT TO ADJUSTERS |
COMPREHENSIVE EXAM PREP, PRACTICE
QUESTIONS, CORRECT ANSWERS AND
STUDY GUIDE
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep
, All fires are not covered by the Standard Fire policies, only are hostile and have a flame or glow
those that:
At what time does a fire policy go into affect? 12:01 am standard time
SFP exclusions accounts, bills, currency, deeds, evidences of debt, money, or securities.
loss by fire or other covered perils caused by a series of specifically listed war perils
including insurrection, rebellion, revolution, and civil war.
negligence to save property
SFP limitations The policy is void in the event of fraud, concealment, or misrepresentation by the insured
related to the policy, whether it occurs before or after a loss.
Proof of Loss of SFP the time and origin of the loss
the actual cash value of each item and the amount of loss it sustained
verified plans and specifications of any building, fixtures, or machinery destroyed or
damaged.
etc..
Loss Requirements and Inventories of SFP the insured making a claim is required to produce for examination all books of account,
bills, invoices and other vouchers or copies thereof.
Appraisal of SFP if insurer and insured can't agree on ACV. They both select a appraiser, who then selects
an umpire, which the judge selects. Insure and Insured split costs of umpire.
Replacement Costs of SFP covers property to the extent of it actual cash value at the time of loss, but not exceeding
the amount which it would cost to repair or replace the property.
PAP The personal auto policy specifies the liability, medical payments, uninsured motorists,
and physical damage coverages, as well as the named insured's duties after a loss. It
includes other general provisions.
