CLAIMS ADJUSTER EXAM STUDY GUIDE | QUESTIONS &
ANSWERS | NEW 2026/2027 UPDATE | GRADED A+| 100% CORRECT
(VERIFIED SOLUTIONS)
Which kind of losses are covered under a standard fire policy? -
ANSWER
Direct
All fires are not covered by the Standard Fire policies, only those that: -
ANSWER
are hostile and have a flame or glow
At what time does a fire policy go into affect? -
ANSWER
12:01am standard time at the location of the insured's property
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? -
ANSWER
$5,000
A fire burning in the middle of the living room would be considered: -
ANSWER
a hostile fire
An insured's house is damaged by fire caused by a neighbor's negligence. The insurance company
will attempt to recover damage from the neighbor. This is called: -
ANSWER
subrogation
Which of the following statements are true concerning requirements of the standard fire policy? -
ANSWER
, The insured must separate damaged from undamaged property in the event there is a loss AND If a
loss occurs, the insured normally has 60 days to file a proof of loss with the insurer
Which types of property are excluded from coverage under the basic fire policy? -
ANSWER
accounts, currency, deeds, and securities
Who is insured under the Standard Fire policy? -
ANSWER
the named insured and his legal representatives
An agreement which affords temporary insurance protection until the policy is issued is called: -
ANSWER
a binder
as a general rule, a complete fire insurance policy would be made up of: -
ANSWER
the Standard Fire policy with one or more forms attached
The one condition listed below which will not void a fire policy:
a) false swearing
b) misrepresentation
c) over-insurance
d) concealment -
ANSWER
over-insurance
replacement cost minus depreciation: -
ANSWER
Actual Cash Value (ACV)
,The Standard Fire policy with an extended coverage endorsement attached covers which of the
following: -
ANSWER
riot
A loss due to order of Civil Authority: -
ANSWER
is excluded unless the loss occurs because of an order by Civil Authorities for the purpose of
controlling a fire
The term "unoccupancy" refers to the absence of : -
ANSWER
persons from a building
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? -
ANSWER
60 days after April 30th
For recovery under the Standard Fire policy, a party must: -
ANSWER
be named in the policy and show an insurable interest in the property at the time the loss occurs
What is the requirement on how much experience one must have to be elected the insurance
commissioner in Georgia? -
ANSWER
None
Once elected, how long is the insurance commissioner's term? -
ANSWER
4 years
, Is there a limit on the number of terms an insurance commissioner can serve? -
ANSWER
No
Who is Georgia's current insurance commissioner? -
ANSWER
Ralph Hudgens
What two capacities does Georgia's insurance commissioner serve? -
ANSWER
1. Chief Officer of Insurance Dept.
2. Chief Fire Marshall
What happens if the Insurance Commissioner has to resign early? -
ANSWER
No election; the Chief Deputy will take over
What is the requirement to serve as Chief Deputy in Georgia? -
ANSWER
must have a bond in the amount of $15,000
If you are a domestic insurer in Georgia, how often does code say your financials must be examined?
-
ANSWER
once every 5 years
Only one court in Georgia has the right to overturn the decision of the Insurance Commissioner.
Which is it? -
ANSWER
Superior Court of Fulton County
What certificate is required for a company to be an authorized insurer in Georgia? -
ANSWERS | NEW 2026/2027 UPDATE | GRADED A+| 100% CORRECT
(VERIFIED SOLUTIONS)
Which kind of losses are covered under a standard fire policy? -
ANSWER
Direct
All fires are not covered by the Standard Fire policies, only those that: -
ANSWER
are hostile and have a flame or glow
At what time does a fire policy go into affect? -
ANSWER
12:01am standard time at the location of the insured's property
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? -
ANSWER
$5,000
A fire burning in the middle of the living room would be considered: -
ANSWER
a hostile fire
An insured's house is damaged by fire caused by a neighbor's negligence. The insurance company
will attempt to recover damage from the neighbor. This is called: -
ANSWER
subrogation
Which of the following statements are true concerning requirements of the standard fire policy? -
ANSWER
, The insured must separate damaged from undamaged property in the event there is a loss AND If a
loss occurs, the insured normally has 60 days to file a proof of loss with the insurer
Which types of property are excluded from coverage under the basic fire policy? -
ANSWER
accounts, currency, deeds, and securities
Who is insured under the Standard Fire policy? -
ANSWER
the named insured and his legal representatives
An agreement which affords temporary insurance protection until the policy is issued is called: -
ANSWER
a binder
as a general rule, a complete fire insurance policy would be made up of: -
ANSWER
the Standard Fire policy with one or more forms attached
The one condition listed below which will not void a fire policy:
a) false swearing
b) misrepresentation
c) over-insurance
d) concealment -
ANSWER
over-insurance
replacement cost minus depreciation: -
ANSWER
Actual Cash Value (ACV)
,The Standard Fire policy with an extended coverage endorsement attached covers which of the
following: -
ANSWER
riot
A loss due to order of Civil Authority: -
ANSWER
is excluded unless the loss occurs because of an order by Civil Authorities for the purpose of
controlling a fire
The term "unoccupancy" refers to the absence of : -
ANSWER
persons from a building
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? -
ANSWER
60 days after April 30th
For recovery under the Standard Fire policy, a party must: -
ANSWER
be named in the policy and show an insurable interest in the property at the time the loss occurs
What is the requirement on how much experience one must have to be elected the insurance
commissioner in Georgia? -
ANSWER
None
Once elected, how long is the insurance commissioner's term? -
ANSWER
4 years
, Is there a limit on the number of terms an insurance commissioner can serve? -
ANSWER
No
Who is Georgia's current insurance commissioner? -
ANSWER
Ralph Hudgens
What two capacities does Georgia's insurance commissioner serve? -
ANSWER
1. Chief Officer of Insurance Dept.
2. Chief Fire Marshall
What happens if the Insurance Commissioner has to resign early? -
ANSWER
No election; the Chief Deputy will take over
What is the requirement to serve as Chief Deputy in Georgia? -
ANSWER
must have a bond in the amount of $15,000
If you are a domestic insurer in Georgia, how often does code say your financials must be examined?
-
ANSWER
once every 5 years
Only one court in Georgia has the right to overturn the decision of the Insurance Commissioner.
Which is it? -
ANSWER
Superior Court of Fulton County
What certificate is required for a company to be an authorized insurer in Georgia? -
