INSURANCE ADJUSTER COMPLETE
EXAM AND ANSWERS
Which kind of losses are covered under a standard fire policy? -
CORRECT ANSWER-Direct
All fires are not covered by the Standard Fire policies, only
those that: - CORRECT ANSWER-are hostile and have a flame
or glow
At what time does a fire policy go into affect? - CORRECT
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? - CORRECT ANSWER-$5,000
A fire burning in the middle of the living room would be
considered: - CORRECT 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: - CORRECT
ANSWER-subrogation
,Which of the following statements are true concerning
requirements of the standard fire policy? - CORRECT
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? - CORRECT ANSWER-accounts, currency,
deeds, and securities
Who is insured under the Standard Fire policy? - CORRECT
ANSWER-the named insured and his legal representatives
An agreement which affords temporary insurance protection
until the policy is issued is called: - CORRECT ANSWER-a
binder
as a general rule, a complete fire insurance policy would be
made up of: - CORRECT 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 - CORRECT ANSWER-over-insurance
replacement cost minus depreciation: - CORRECT ANSWER-
Actual Cash Value (ACV)
The Standard Fire policy with an extended coverage
endorsement attached covers which of the following: -
CORRECT ANSWER-riot
, A loss due to order of Civil Authority: - CORRECT 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 : - CORRECT
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? - CORRECT ANSWER-60 days after April 30th
For recovery under the Standard Fire policy, a party must: -
CORRECT 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? -
CORRECT ANSWER-None
Once elected, how long is the insurance commissioner's term?
- CORRECT ANSWER-4 years
Is there a limit on the number of terms an insurance
commissioner can serve? - CORRECT ANSWER-No
Who is Georgia's current insurance commissioner? -
CORRECT ANSWER-Ralph Hudgens
What two capacities does Georgia's insurance commissioner
serve? - CORRECT ANSWER-1. Chief Officer of Insurance
Dept.
2. Chief Fire Marshall
EXAM AND ANSWERS
Which kind of losses are covered under a standard fire policy? -
CORRECT ANSWER-Direct
All fires are not covered by the Standard Fire policies, only
those that: - CORRECT ANSWER-are hostile and have a flame
or glow
At what time does a fire policy go into affect? - CORRECT
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? - CORRECT ANSWER-$5,000
A fire burning in the middle of the living room would be
considered: - CORRECT 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: - CORRECT
ANSWER-subrogation
,Which of the following statements are true concerning
requirements of the standard fire policy? - CORRECT
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? - CORRECT ANSWER-accounts, currency,
deeds, and securities
Who is insured under the Standard Fire policy? - CORRECT
ANSWER-the named insured and his legal representatives
An agreement which affords temporary insurance protection
until the policy is issued is called: - CORRECT ANSWER-a
binder
as a general rule, a complete fire insurance policy would be
made up of: - CORRECT 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 - CORRECT ANSWER-over-insurance
replacement cost minus depreciation: - CORRECT ANSWER-
Actual Cash Value (ACV)
The Standard Fire policy with an extended coverage
endorsement attached covers which of the following: -
CORRECT ANSWER-riot
, A loss due to order of Civil Authority: - CORRECT 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 : - CORRECT
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? - CORRECT ANSWER-60 days after April 30th
For recovery under the Standard Fire policy, a party must: -
CORRECT 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? -
CORRECT ANSWER-None
Once elected, how long is the insurance commissioner's term?
- CORRECT ANSWER-4 years
Is there a limit on the number of terms an insurance
commissioner can serve? - CORRECT ANSWER-No
Who is Georgia's current insurance commissioner? -
CORRECT ANSWER-Ralph Hudgens
What two capacities does Georgia's insurance commissioner
serve? - CORRECT ANSWER-1. Chief Officer of Insurance
Dept.
2. Chief Fire Marshall
