INSURANCE CLAIMS ADJUSTING EXAM QUIZZES
WITH ACCURATE ANSWERS | LATEST UPDATE .
Insurance claim - correct Answers -a formal request to an insurance company requesting a
payment, based on the terms of an insurance policy (contract)
First-party claim - correct Answers -is made by a policyholder, insured, or beneficiary, directly
against the insurance company. First-party claims are filed under policies such as Dwelling or
Automobile Physical Damage
Third-party claim - correct Answers -is made against an insured who is covered by a liability
policy, such as Commercial General Liability or Malpractice insurance policies. It's important to
remember that policies such as Homeowners, Personal Auto, and Business Owners contain both
first and third-party coverage
What do claims adjusters do? - correct Answers -Insurance claims adjusters inspect and
investigate property damage or personal injury claims to determine the amount an insurance
company is liable to pay for a loss
Types of insurance claims adjusters - correct Answers -1. Independent adjusters - they work on
behalf of the insurance company
2. Public adjusters - they work on behalf of the policyholders.
Both types must be licensed according to the laws of the state in which they are working
Are independent adjusters permitted to adjust claims on behalf of the individual policyholder? -
correct Answers -No
How may independent adjusters be hired by an insurance company? - correct Answers -1. "Staff
or company" adjuster working in the home office of the insurance company.
2. "Field" adjuster who adjusts claims for an insurer in a particular location.
1
, What else can "Staff" adjuster also include and what does that include? - correct Answers -Staff
adjusters can also include "specialty" adjusters such as workers compensation adjusters, accident
& health adjusters, automobile claims adjusters, and other specialties as licensed per state law.
What other companies may independent adjusters work for? And what are these adjusters
referred as? - correct Answers -Adjusting companies that deploy teams of adjusters to work on
behalf of an insurer in the case of a catastrophe such as a hurricane, flood, or tornado. These
adjusters are referred to as "catastrophe" or "CAT" adjusters
What do many states title their adjuster licenses as? And what type of adjusters have these
licenses? - correct Answers -1. Property & Casualty Adjuster
2. General Lines Adjuster, or
3. All Lines Adjuster
What is a Public adjuster? - correct Answers -an independent contractor representing solely the
financial interests of the insured named in the policy.
Does the insured or the insurance company pay the public adjuster for his or her services? -
correct Answers -Insured
What do state laws prohibit public adjusters from? - correct Answers -Adjusting liability type
claims and restrict their authority to the adjustment of property insurance claims.
In some states, what can individuals hold licenses for concurrently, but not with respect to the
same claim? - correct Answers -Individuals can hold an independent/staff adjuster license and a
public adjuster license concurrently.
What do other states prohibit? - correct Answers -Other states prohibit an individual form
holding both an independent/staff adjuster license and a public adjuster license at the same time,
citing a conflict of interest
What does it mean if you are a fiduciary agent adjuster? - correct Answers -A fiduciary agent
adjuster must represent the interest of "the principle".
2
WITH ACCURATE ANSWERS | LATEST UPDATE .
Insurance claim - correct Answers -a formal request to an insurance company requesting a
payment, based on the terms of an insurance policy (contract)
First-party claim - correct Answers -is made by a policyholder, insured, or beneficiary, directly
against the insurance company. First-party claims are filed under policies such as Dwelling or
Automobile Physical Damage
Third-party claim - correct Answers -is made against an insured who is covered by a liability
policy, such as Commercial General Liability or Malpractice insurance policies. It's important to
remember that policies such as Homeowners, Personal Auto, and Business Owners contain both
first and third-party coverage
What do claims adjusters do? - correct Answers -Insurance claims adjusters inspect and
investigate property damage or personal injury claims to determine the amount an insurance
company is liable to pay for a loss
Types of insurance claims adjusters - correct Answers -1. Independent adjusters - they work on
behalf of the insurance company
2. Public adjusters - they work on behalf of the policyholders.
Both types must be licensed according to the laws of the state in which they are working
Are independent adjusters permitted to adjust claims on behalf of the individual policyholder? -
correct Answers -No
How may independent adjusters be hired by an insurance company? - correct Answers -1. "Staff
or company" adjuster working in the home office of the insurance company.
2. "Field" adjuster who adjusts claims for an insurer in a particular location.
1
, What else can "Staff" adjuster also include and what does that include? - correct Answers -Staff
adjusters can also include "specialty" adjusters such as workers compensation adjusters, accident
& health adjusters, automobile claims adjusters, and other specialties as licensed per state law.
What other companies may independent adjusters work for? And what are these adjusters
referred as? - correct Answers -Adjusting companies that deploy teams of adjusters to work on
behalf of an insurer in the case of a catastrophe such as a hurricane, flood, or tornado. These
adjusters are referred to as "catastrophe" or "CAT" adjusters
What do many states title their adjuster licenses as? And what type of adjusters have these
licenses? - correct Answers -1. Property & Casualty Adjuster
2. General Lines Adjuster, or
3. All Lines Adjuster
What is a Public adjuster? - correct Answers -an independent contractor representing solely the
financial interests of the insured named in the policy.
Does the insured or the insurance company pay the public adjuster for his or her services? -
correct Answers -Insured
What do state laws prohibit public adjusters from? - correct Answers -Adjusting liability type
claims and restrict their authority to the adjustment of property insurance claims.
In some states, what can individuals hold licenses for concurrently, but not with respect to the
same claim? - correct Answers -Individuals can hold an independent/staff adjuster license and a
public adjuster license concurrently.
What do other states prohibit? - correct Answers -Other states prohibit an individual form
holding both an independent/staff adjuster license and a public adjuster license at the same time,
citing a conflict of interest
What does it mean if you are a fiduciary agent adjuster? - correct Answers -A fiduciary agent
adjuster must represent the interest of "the principle".
2
