WV ADJUSTER TEST EXAM 2024/2025 WITH 100%
CORRECT ANSWERS
What is the definition of a public adjuster? - correct answer An adjuster who works for the insured
If an insurance company is fined (max $1000) by commissioner, how many days do they have to pay or
appeal the fine? - correct answer 30 Days
Subrogation occurs when? - correct answer The insurer steps into the position of the insured and may
collect from the responsible party for damages
What is the purpose of excess insurance? - correct answer To provide additional liability coverage
above and beyond that which is provided by the primary policy
How is the value of personal property determined when using ACV? - correct answer Replacement cost
less depreciation
How long does an insurance company have to furnish the insurance commissioner with a complete
written response to an inquiry other than a notice of 3rd party administrative complaints? - correct
answer 15 days
Which of the following options correctly states the effect of WVs modified comparative negligence law
in a situation in which each is equally liable (each party of 50% liable) - correct answer Neither party
collects from the other
Driver B loses control of his vehicle and strikes Driver A. Under what theory does Driver A collect
damages from Driver B? - correct answer Legal Liability
There are 3 home owners policies in effect, which all apply to a single loss. The policies provide the
following amounts of coverage.
, Company A 50,000
Company B 40,000
Company C 10,000
The insured suffered a $10,000 loss to his home. What amount will Company C pay? - correct answer
$1,000
How long does an insurance company have to give a 3rd party claimant, who is not an attorney, nor
represented by an attorney, written notice that the claimants rights may be affected by a statue of
limitations or a policy or contract time limit? - correct answer 60 Days
An insured has his vehicle stolen. When recovered there was $2,000 damage, due to collision and $450
in stolen hubcaps. There is a $200 collision deductible and a $100 comprehensive deductible. What is
the maximum amount the insured will pay? - correct answer Add up all the damages and then subtract
the comprehensive deductible.
What is the purpose of WVs guaranty association? - correct answer To pay claims when the insurer has
become insolvent
In a homeowners policy, what coverages are included in Section 1 & 2? - correct answer Dwelling &
Personal Property, and BI Liability & Medical Payments
What is the purpose of WVs Essential Insurance Act "Fair Plan"? - correct answer To provide
homeowners and business owners, who would not otherwise be able to get insurance from the normal
insurance marketplace, the ability to obtain insurance
What is the law regarding as it relates to the insureds liability? - correct answer It is forbidden to
exclude liability coverage for the guest passenger, under any circumstances
How much time does an insurer have to inspect? - correct answer 7 days
Under the fire prevention act, what must an adjuster do whenever arson is suspected? - correct answer
Notify the state fire marshall
CORRECT ANSWERS
What is the definition of a public adjuster? - correct answer An adjuster who works for the insured
If an insurance company is fined (max $1000) by commissioner, how many days do they have to pay or
appeal the fine? - correct answer 30 Days
Subrogation occurs when? - correct answer The insurer steps into the position of the insured and may
collect from the responsible party for damages
What is the purpose of excess insurance? - correct answer To provide additional liability coverage
above and beyond that which is provided by the primary policy
How is the value of personal property determined when using ACV? - correct answer Replacement cost
less depreciation
How long does an insurance company have to furnish the insurance commissioner with a complete
written response to an inquiry other than a notice of 3rd party administrative complaints? - correct
answer 15 days
Which of the following options correctly states the effect of WVs modified comparative negligence law
in a situation in which each is equally liable (each party of 50% liable) - correct answer Neither party
collects from the other
Driver B loses control of his vehicle and strikes Driver A. Under what theory does Driver A collect
damages from Driver B? - correct answer Legal Liability
There are 3 home owners policies in effect, which all apply to a single loss. The policies provide the
following amounts of coverage.
, Company A 50,000
Company B 40,000
Company C 10,000
The insured suffered a $10,000 loss to his home. What amount will Company C pay? - correct answer
$1,000
How long does an insurance company have to give a 3rd party claimant, who is not an attorney, nor
represented by an attorney, written notice that the claimants rights may be affected by a statue of
limitations or a policy or contract time limit? - correct answer 60 Days
An insured has his vehicle stolen. When recovered there was $2,000 damage, due to collision and $450
in stolen hubcaps. There is a $200 collision deductible and a $100 comprehensive deductible. What is
the maximum amount the insured will pay? - correct answer Add up all the damages and then subtract
the comprehensive deductible.
What is the purpose of WVs guaranty association? - correct answer To pay claims when the insurer has
become insolvent
In a homeowners policy, what coverages are included in Section 1 & 2? - correct answer Dwelling &
Personal Property, and BI Liability & Medical Payments
What is the purpose of WVs Essential Insurance Act "Fair Plan"? - correct answer To provide
homeowners and business owners, who would not otherwise be able to get insurance from the normal
insurance marketplace, the ability to obtain insurance
What is the law regarding as it relates to the insureds liability? - correct answer It is forbidden to
exclude liability coverage for the guest passenger, under any circumstances
How much time does an insurer have to inspect? - correct answer 7 days
Under the fire prevention act, what must an adjuster do whenever arson is suspected? - correct answer
Notify the state fire marshall
