GEORGIA CLAIMS ADJUSTER LICENSING EXAM / GA
CLAIMS ADJUSTER EXAM QUESTIONS AND CORRECT
DETAILED ANSWERWERS WITH
RATIONALES|ALREADY GRADED A+
What coverage does Community Eligibility apply to? - (answer)Flood insurance
through FEMA
What's the difference between Emergency Program and Regular Program in the
National Flood Insurance Program? - (answer)Emergency applies to homes in
communities that are a normally not a flood hazard. Regular programs are
awarded to an entire community that is eligible due to flood hazard.
What is the flood coverage on a regular program in a 1-4 Family Dwelling? -
(answer)$250,000
On what policy can you add the Flood Program endorsement? - (answer)None! It
has its own policy through the Federal Government.
Difference in Conditions (DIC) Insurance - (answer)A separate insurance policy
that provides open-perils coverage to fill in the gaps left by flood coverage if a
home is worth over $250K. Coverage is produced through Excess/Surplus Lines.
What is the waiting period on NFIP coverage? - (answer)30 days after policy
purchase
,What is the coverage change waiting period for the NFIP? - (answer)5 days
Give examples of the flood peril - (answer)- an overflow of inland or tidal waters
- unusual or rapid accumulation or runoff of surface waters
-Mudflow or Mudslide
- Collapse of land along the shore of a lake as a result of erosion
What kinds of things does flood insurance cover? - (answer)Your house and your
things (dwelling and personal property). No indirect charges.
Dwelling coverage extension for flood insurance covers what? How much is it? -
(answer)Structures not attached to dwelling (O.S. or Appurtenant structures).
10% of Dwelling limit. ***It is an extension of coverage, NOT the $250K limit so
any coverage needed here will reduce the amount able to go to the dwelling.
Contents coverage of flood insurance is limited to what? - (answer)Personal
property damaged or destroyed by the flood itself and belongs to insured and
resident spouse/relatives. The insured is liable for content of others.
What are the coverages of flood insurance? - (answer)Dwelling, Contents, Debris
Removal
How are damaged items valued in flood coverage? - (answer)Dwelling -
replacement cost
, Contents - Actual Cash Value
What kind of property is not covered by flood insurance? - (answer)Basements
and underground structure (ex. septic tanks), animals, money/accounts/bills,
land, anything else covered by other policies (motor vehicles, aircraft, watercraft)
Loss Valuation on flood insurance - (answer)(amount of insurance purchased/80%
Dwellings Total replacement cost) x Loss Amount
Standard deductible on flood insurance - (answer)$1K for Dwelling and $1K for
Content
Personal Inland Marine Insurance - (answer)Floaters or policies for world-wide
coverage of personal property on an open-peril basis.
Is flood excluded from Personal Inland Marine Insurance? - (answer)NOPE. It's
covered!
What are the floaters available on Personal Inland Marine Insurance? -
(answer)Personal Articles Floaters, Personal Property Floaters, and Personal
Effects Floaters
What perils are covered under Personal Inland Marine Insurance floaters? -
(answer)all; open-peril
CLAIMS ADJUSTER EXAM QUESTIONS AND CORRECT
DETAILED ANSWERWERS WITH
RATIONALES|ALREADY GRADED A+
What coverage does Community Eligibility apply to? - (answer)Flood insurance
through FEMA
What's the difference between Emergency Program and Regular Program in the
National Flood Insurance Program? - (answer)Emergency applies to homes in
communities that are a normally not a flood hazard. Regular programs are
awarded to an entire community that is eligible due to flood hazard.
What is the flood coverage on a regular program in a 1-4 Family Dwelling? -
(answer)$250,000
On what policy can you add the Flood Program endorsement? - (answer)None! It
has its own policy through the Federal Government.
Difference in Conditions (DIC) Insurance - (answer)A separate insurance policy
that provides open-perils coverage to fill in the gaps left by flood coverage if a
home is worth over $250K. Coverage is produced through Excess/Surplus Lines.
What is the waiting period on NFIP coverage? - (answer)30 days after policy
purchase
,What is the coverage change waiting period for the NFIP? - (answer)5 days
Give examples of the flood peril - (answer)- an overflow of inland or tidal waters
- unusual or rapid accumulation or runoff of surface waters
-Mudflow or Mudslide
- Collapse of land along the shore of a lake as a result of erosion
What kinds of things does flood insurance cover? - (answer)Your house and your
things (dwelling and personal property). No indirect charges.
Dwelling coverage extension for flood insurance covers what? How much is it? -
(answer)Structures not attached to dwelling (O.S. or Appurtenant structures).
10% of Dwelling limit. ***It is an extension of coverage, NOT the $250K limit so
any coverage needed here will reduce the amount able to go to the dwelling.
Contents coverage of flood insurance is limited to what? - (answer)Personal
property damaged or destroyed by the flood itself and belongs to insured and
resident spouse/relatives. The insured is liable for content of others.
What are the coverages of flood insurance? - (answer)Dwelling, Contents, Debris
Removal
How are damaged items valued in flood coverage? - (answer)Dwelling -
replacement cost
, Contents - Actual Cash Value
What kind of property is not covered by flood insurance? - (answer)Basements
and underground structure (ex. septic tanks), animals, money/accounts/bills,
land, anything else covered by other policies (motor vehicles, aircraft, watercraft)
Loss Valuation on flood insurance - (answer)(amount of insurance purchased/80%
Dwellings Total replacement cost) x Loss Amount
Standard deductible on flood insurance - (answer)$1K for Dwelling and $1K for
Content
Personal Inland Marine Insurance - (answer)Floaters or policies for world-wide
coverage of personal property on an open-peril basis.
Is flood excluded from Personal Inland Marine Insurance? - (answer)NOPE. It's
covered!
What are the floaters available on Personal Inland Marine Insurance? -
(answer)Personal Articles Floaters, Personal Property Floaters, and Personal
Effects Floaters
What perils are covered under Personal Inland Marine Insurance floaters? -
(answer)all; open-peril
