INTRO TO CLAIMS ADJUSTING – A EXAM
QUESTIONS WITH VERIFIED ANSWERS .
An independent adjuster acts on behalf of his or her principal. Who is the principal for an
independent adjuster - correct Answers -the insurer
a public adjuster's fiduciary responsibility is to - correct Answers -the insured
lawrence holds both an independent staff adjusters license and a public adjusters license as
permitted by law in his state. He is employed by Binders Keepers inc and regularly adjusts
claims for the company that arise from Homeowners policies. Lawrence has been hired by Kelli
to act as a public adjuster on her behalf to present a claim under her Homeowners policy that was
issued by Binders Keepers, Inc. If lawrence accepts the contract with Kelli, it may: - correct
Answers -present a conflict of interest
Jaime has submitted a claim against Ron's insurance policy for a loss he has legitimately
suffered. This claim is a: - correct Answers -third-party liability claim
Natalie assumes that her adjuster has the authority to settle her claim on behalf of her insurance
company. This is an example of the adjusters: _______ Authority - correct Answers -apparent
authority
The type of "agent authority" that allows an adjuster to exercise his/her express authority is -
correct Answers -implied authority
A formal request to an insurance company requesting a payment according to the terms of an
insurance contract is known as: - correct Answers -An insurance claim
All of the following statements are true regarding fiduciary responsibilities of an adjuster,
EXCEPT:
a) the adjuster must take statements in writing before they will bind the principal
1
QUESTIONS WITH VERIFIED ANSWERS .
An independent adjuster acts on behalf of his or her principal. Who is the principal for an
independent adjuster - correct Answers -the insurer
a public adjuster's fiduciary responsibility is to - correct Answers -the insured
lawrence holds both an independent staff adjusters license and a public adjusters license as
permitted by law in his state. He is employed by Binders Keepers inc and regularly adjusts
claims for the company that arise from Homeowners policies. Lawrence has been hired by Kelli
to act as a public adjuster on her behalf to present a claim under her Homeowners policy that was
issued by Binders Keepers, Inc. If lawrence accepts the contract with Kelli, it may: - correct
Answers -present a conflict of interest
Jaime has submitted a claim against Ron's insurance policy for a loss he has legitimately
suffered. This claim is a: - correct Answers -third-party liability claim
Natalie assumes that her adjuster has the authority to settle her claim on behalf of her insurance
company. This is an example of the adjusters: _______ Authority - correct Answers -apparent
authority
The type of "agent authority" that allows an adjuster to exercise his/her express authority is -
correct Answers -implied authority
A formal request to an insurance company requesting a payment according to the terms of an
insurance contract is known as: - correct Answers -An insurance claim
All of the following statements are true regarding fiduciary responsibilities of an adjuster,
EXCEPT:
a) the adjuster must take statements in writing before they will bind the principal
1
