Insurance Adjuster Exam
-all risk coverage, is the best
-includes theft coverage - ANS-DP-3 Special Dwelling Form
-low value
-old, un-renovated (must be updated within last 25 years)
-houses in undesirable locations
-rental houses
-must be owner-occupied to qualify - ANS-Reasons houses can't qualify for Homeowners
Policy:
-money $200
-accounts, deeds, evidence of debt $1500
-watercraft $1500
-trailers $1500
-jewelry theft $1500
-silverware theft $2500
-gun theft $2500
-business property $2500 (on premises)
-business property $500 (off premises) - ANS-Special limitations to contents loss under
Coverage C (personal property):
$1,000 - ANS-Section 2 of Property Damage HO policy covers damage to OTHERS property up
to:
$1,000 per person, per occurrence - ANS-Coverage F homeowners policy covers medical
expenses up to:
$100,000 - ANS-Coverage E of the Homeowner's Policy has a minimum limit of:
$25,000 - ANS-one option to drive a car in Georgia instead of the traditional auto insurance
policy is to make a cash deposit of ________
$250 - ANS-If insured is getting sued and must miss work that week and not able to get paid,
insurance will cover loss of wages up to:
$250 - ANS-What is the maximum amount payable for bail bonds under supplementary
payments in the Personal Auto Policy?
,$5,000 - ANS-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?
$500 - ANS-If you get the endorsement for motor home coverage on the Homeowners Policy, it
covers collision damage for moving home, and transportation costs up to:
$60.00, b/c there is a 48 hour waiting period, so they are eligible to receive payment after the
first two days, making 3 days. You can get up to $20.00 per day. 3x20=60 - ANS-An insured's
auto is stolen and recovered 5 days later. If the insured claims transportation expenses $32.50
per day, how much will be paid under the covered peril?
$7500 - ANS-If employee dies from injury in workplace accident, will cover funeral costs up to:
1. Chief Officer of Insurance Dept.
2. Chief Fire Marshall - ANS-What two capacities does Georgia's insurance commissioner
serve?
1. Earthquake Coverage- the first 72 hours of earthquake damage counts as one occurrence
2. Replacement Cost Contents Coverage- makes contents covered for replacement value, so
no depreciation (w/out this endorsement, would be covered w/ Actual Cash Value) - ANS-2
Property Endorsements under homeowners policy:
1. insurance policy (liability)
2. bond
3. $25,000 cash deposit - ANS-there are 3 ways to get auto coverage in GA:
10% - ANS-By default, the limit for Coverage B of Dwelling Policy is automatically ____% of the
Coverage A limit
10% of contents coverage - ANS-How much coverage is applied to contents away from the
premises under the dwelling building and contents broad form?
12:01am standard time at the location of the insured's property - ANS-At what time does a fire
policy go into affect?
20% - ANS-Coverage D (rental loss) of Dwelling Policy limit is automatically _____% of
Coverage A?
20% - ANS-Coverage E (additional living expenses) of Dwelling Policy limit is automatically
____% of Coverage A?
24 - ANS-Must be a full-time student under the age of ____ for policy to cover child when away
from household
, 25- $25,000 per person limit for bodily injuries
50- $50,000 per accident for bodily injuries total
25- $25,000 for damage to other persons property - ANS-What do the 25/50/25 in the Split Limit
Policy stand for?
25/50/25 - ANS-Georgia law requires a minimum limit ___/___/___ for auto liability insurance
---> "Split Limits"
2nd best, has the most named perils - ANS-DP-2 Dwelling Fire Policy:
3 or more - ANS-How many employees must an employer have to be required to carry workers
compensation coverage?
4 years - ANS-Once elected, how long is the insurance commissioner's term?
5 years experience (and take exam) - ANS-How many years of experience must you have to
qualify to be Counselor?
6 month & 12 month - ANS-There are two options for auto policy terms:
6 months - ANS-All policies covering private passenger vehicles must be issued for a minimum
term of:
60 days after April 30th - ANS-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?
7 days - ANS-What is the waiting period to receive income benefits for workers compensation?
90 days - ANS-If a spouse leaves his/her partner and takes the named vehicle with them, they
will remain covered under the same auto policy for _____ days before the policy is terminated
(grace period)
a binder - ANS-An agreement which affords temporary insurance protection until the policy is
issued is called:
a concealed fact was known to be material by the insured AND the insured intended to defraud
the insurer - ANS-Concealment is failure of the insurance applicant to reveal a material fact to
the insurer. Which of the following statements must be proved before the insurer can deny a
claim on the basis of concealment?
a Foreign insurer - ANS-an insurer formed under the law of a state of the United States other
than the state where it is licensed, domiciled and chartered is:
-all risk coverage, is the best
-includes theft coverage - ANS-DP-3 Special Dwelling Form
-low value
-old, un-renovated (must be updated within last 25 years)
-houses in undesirable locations
-rental houses
-must be owner-occupied to qualify - ANS-Reasons houses can't qualify for Homeowners
Policy:
-money $200
-accounts, deeds, evidence of debt $1500
-watercraft $1500
-trailers $1500
-jewelry theft $1500
-silverware theft $2500
-gun theft $2500
-business property $2500 (on premises)
-business property $500 (off premises) - ANS-Special limitations to contents loss under
Coverage C (personal property):
$1,000 - ANS-Section 2 of Property Damage HO policy covers damage to OTHERS property up
to:
$1,000 per person, per occurrence - ANS-Coverage F homeowners policy covers medical
expenses up to:
$100,000 - ANS-Coverage E of the Homeowner's Policy has a minimum limit of:
$25,000 - ANS-one option to drive a car in Georgia instead of the traditional auto insurance
policy is to make a cash deposit of ________
$250 - ANS-If insured is getting sued and must miss work that week and not able to get paid,
insurance will cover loss of wages up to:
$250 - ANS-What is the maximum amount payable for bail bonds under supplementary
payments in the Personal Auto Policy?
,$5,000 - ANS-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?
$500 - ANS-If you get the endorsement for motor home coverage on the Homeowners Policy, it
covers collision damage for moving home, and transportation costs up to:
$60.00, b/c there is a 48 hour waiting period, so they are eligible to receive payment after the
first two days, making 3 days. You can get up to $20.00 per day. 3x20=60 - ANS-An insured's
auto is stolen and recovered 5 days later. If the insured claims transportation expenses $32.50
per day, how much will be paid under the covered peril?
$7500 - ANS-If employee dies from injury in workplace accident, will cover funeral costs up to:
1. Chief Officer of Insurance Dept.
2. Chief Fire Marshall - ANS-What two capacities does Georgia's insurance commissioner
serve?
1. Earthquake Coverage- the first 72 hours of earthquake damage counts as one occurrence
2. Replacement Cost Contents Coverage- makes contents covered for replacement value, so
no depreciation (w/out this endorsement, would be covered w/ Actual Cash Value) - ANS-2
Property Endorsements under homeowners policy:
1. insurance policy (liability)
2. bond
3. $25,000 cash deposit - ANS-there are 3 ways to get auto coverage in GA:
10% - ANS-By default, the limit for Coverage B of Dwelling Policy is automatically ____% of the
Coverage A limit
10% of contents coverage - ANS-How much coverage is applied to contents away from the
premises under the dwelling building and contents broad form?
12:01am standard time at the location of the insured's property - ANS-At what time does a fire
policy go into affect?
20% - ANS-Coverage D (rental loss) of Dwelling Policy limit is automatically _____% of
Coverage A?
20% - ANS-Coverage E (additional living expenses) of Dwelling Policy limit is automatically
____% of Coverage A?
24 - ANS-Must be a full-time student under the age of ____ for policy to cover child when away
from household
, 25- $25,000 per person limit for bodily injuries
50- $50,000 per accident for bodily injuries total
25- $25,000 for damage to other persons property - ANS-What do the 25/50/25 in the Split Limit
Policy stand for?
25/50/25 - ANS-Georgia law requires a minimum limit ___/___/___ for auto liability insurance
---> "Split Limits"
2nd best, has the most named perils - ANS-DP-2 Dwelling Fire Policy:
3 or more - ANS-How many employees must an employer have to be required to carry workers
compensation coverage?
4 years - ANS-Once elected, how long is the insurance commissioner's term?
5 years experience (and take exam) - ANS-How many years of experience must you have to
qualify to be Counselor?
6 month & 12 month - ANS-There are two options for auto policy terms:
6 months - ANS-All policies covering private passenger vehicles must be issued for a minimum
term of:
60 days after April 30th - ANS-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?
7 days - ANS-What is the waiting period to receive income benefits for workers compensation?
90 days - ANS-If a spouse leaves his/her partner and takes the named vehicle with them, they
will remain covered under the same auto policy for _____ days before the policy is terminated
(grace period)
a binder - ANS-An agreement which affords temporary insurance protection until the policy is
issued is called:
a concealed fact was known to be material by the insured AND the insured intended to defraud
the insurer - ANS-Concealment is failure of the insurance applicant to reveal a material fact to
the insurer. Which of the following statements must be proved before the insurer can deny a
claim on the basis of concealment?
a Foreign insurer - ANS-an insurer formed under the law of a state of the United States other
than the state where it is licensed, domiciled and chartered is:
