Property and Casualty Adjuster Exam Questions and Answers 100% Pass

Property and Casualty Adjuster Exam Questions and Answers 100% Pass Staff Adjusters - Answer- are on the payroll of an insurance company Independent adjusters - Answer- Usually handle claims for more than one company and receive a fee based on time and expense. Contractors - Answer- May work for a comapny that furnishes adjusters for the handling of catasrophic losses. They are paid in the same manner as independent adjusters. Public Adjusters - Answer- Work on behalf of the insured in negotiating a claim settlement.Work for the Insured Temporary/Emergency licenses - Answer- Department allows temporary licenses for the perposes of training and in cases of emergencies. Adjuster -- Workers' compensation -- - Answer- this license allows a person to adjust and/or supervise all workers' compensation, employers liability, United States Longshore and Harbor Workers' Compensation Act, Jones Act, and all other federal acts. Adjuster -- Property and Casualty -- - Answer- This license allows a perons to adjust and or/supervise claims in all areas of property and casualty insurance except workers' compensation Adjuster -- All Lines -- - Answer- This license allows a person to adjust and/or supervise claims in all lines of insurance included in workers' compensation and peroperty and casualty Domestic - Answer- an insurer organized, admitted, and writing insurance in Texas (USAA) Example Gainsco, Fred Loya Insurance Foreign - Answer- An insurer domiciled outside the state where it writes inruance (State Farm) Example: Amica, Travelers, Progressive, Nationwide. Alien - Answer- An insurence company organized and domiciled outside the United States.(Tokyo Fire and Marine). Example: Zurich An insured can endorse liab on a dwelling under what circumstance? - Answer- Owners Occupancey Which dwelling property form requires that the dwelling be owner occupied? - Answer- DP3 Speical Open perils for A,B,C,D+E broad perils for Cov C What is a warranty?Why is it Important? - Answer- -a written conditin in the policy that must be true at time of loss - a breach will suspend covg. resulting in a claim denial Define Advertising Injury - Answer- Copyright infringement, false statment about the competitor in advertizements What is pro-rate liability? How are claims paid? - Answer- -Shared coverage between insurance carriers - paid propertionatly, equal or primary exess