GA Adjuster Exam Review
In GA, _____insurance cannot be written by a reciprocal type insurer. - answerlife
No insurer or licensee doing business in Georgia may pay any commissions or valuable
consideration to any person for services as an agent, subagent, or adjuster unless that
person is duly licensed under the - answerCode
Mediation is not _____ on the parties involved, but with arbitration the decision is final
and _____. - answerBinding
Standard and Poor's, A.M. Best and Moody's are examples of: - answerIndependent
Rating Services
What is the application fee for filing to become a self-insurer for workers compensation
in Georgia? - answer$500
Insurance adjusters have the "power to bind". Which of the following statements best
describes what this means? - answerThe principal is bound to the decisions of the
adjuster.
The perils most frequently covered by a Difference in Conditions policy are: -
answerFlood and Earthquake
What is the purpose of the Georgia Insurance Guaranty Association? - answerCover
claims of insolvent insurers
Twisting - answerThe act of inducing or attempting to induce a policy owner to drop an
existing life insurance policy and to take another policy that is substantially the same
kind by using misrepresentations or incomplete comparisons of the advantages and
disadvantages of the two policies. Most states have enacted legislation making twisting
a crime.
Churning - answerChurning occurs when an insurance agent replaces a policyholder's
insurance policy for another insurance policy, usually without consulting the policyholder
and often with no changes to the coverage itself. Agents who engage in churning do so
in order to secure an additional commission for the new policy they swap in.
Rebating - answerRebating — a portion of the premium or the agent's/broker's
commission on the premium to the insured or other inducements to place business with
a specific insurer. Rebating is illegal in the majority of states. Insurers must use filed
rate credits or have supporting methodology.
, Uninsured motorist coverage law in Georgia applies to bodily injury claims sustained by
an insured and caused by an uninsured motorist as defined by the law. UMPD coverage
is also included. - answer
In Georgia, the Chief Deputy Commissioner must execute a bond in the amount of: -
answer$15,000
Adjusters must maintain record of each investigation or adjustment undertaken, and a
statement of any fee, commission, or other compensation received or to be received on
account of the investigation or adjustment. How long must the records be maintained for
examination? - answer5
The limits of the Employers' Liability section of a standard workers' compensation policy
are: - answerListed on the information page
An insured has purchased BAP physical damage coverage against specified causes of
loss. Protection applies to all of the following perils, EXCEPT: - answerFalling objects
Which of the following statements is NOT TRUE of the Builders' Risk coverage form? -
answerT
An insured carries a liability policy and an umbrella policy. The verdict in a personal
injury liability suit was higher than the insured's underlying liability policy's limit of
insurance. In this situation: - answerThe insurance company providing the insured's
umbrella liability policy can appeal the case at its own expense even if the insured and
the company providing the underlying policy do not appeal.
What is a "notice to show cause?" - answerA notice that states the proposed action may
be taken by the Insurance Department unless the person shows cause at a hearing why
the action should not be taken.
How long can temporary total disability payments be made to an injured employee? -
answer400 weeks
Which of the following is NOT covered by the Federal Employee's Compensation Act
(FECA)? - answerDamages awarded by a court
What is the maximum penalty per violation if a person willfully and knowingly or
intentionally makes any false or misstatement for the purpose of obtaining or denying
benefits or payment of workers compensation coverage? - answer$10,000
If an injured employee hires an attorney to represent them in a workers compensation
claim dispute, what percentage of the income benefits can the attorney charge for the
representation? - answer25%
In GA, _____insurance cannot be written by a reciprocal type insurer. - answerlife
No insurer or licensee doing business in Georgia may pay any commissions or valuable
consideration to any person for services as an agent, subagent, or adjuster unless that
person is duly licensed under the - answerCode
Mediation is not _____ on the parties involved, but with arbitration the decision is final
and _____. - answerBinding
Standard and Poor's, A.M. Best and Moody's are examples of: - answerIndependent
Rating Services
What is the application fee for filing to become a self-insurer for workers compensation
in Georgia? - answer$500
Insurance adjusters have the "power to bind". Which of the following statements best
describes what this means? - answerThe principal is bound to the decisions of the
adjuster.
The perils most frequently covered by a Difference in Conditions policy are: -
answerFlood and Earthquake
What is the purpose of the Georgia Insurance Guaranty Association? - answerCover
claims of insolvent insurers
Twisting - answerThe act of inducing or attempting to induce a policy owner to drop an
existing life insurance policy and to take another policy that is substantially the same
kind by using misrepresentations or incomplete comparisons of the advantages and
disadvantages of the two policies. Most states have enacted legislation making twisting
a crime.
Churning - answerChurning occurs when an insurance agent replaces a policyholder's
insurance policy for another insurance policy, usually without consulting the policyholder
and often with no changes to the coverage itself. Agents who engage in churning do so
in order to secure an additional commission for the new policy they swap in.
Rebating - answerRebating — a portion of the premium or the agent's/broker's
commission on the premium to the insured or other inducements to place business with
a specific insurer. Rebating is illegal in the majority of states. Insurers must use filed
rate credits or have supporting methodology.
, Uninsured motorist coverage law in Georgia applies to bodily injury claims sustained by
an insured and caused by an uninsured motorist as defined by the law. UMPD coverage
is also included. - answer
In Georgia, the Chief Deputy Commissioner must execute a bond in the amount of: -
answer$15,000
Adjusters must maintain record of each investigation or adjustment undertaken, and a
statement of any fee, commission, or other compensation received or to be received on
account of the investigation or adjustment. How long must the records be maintained for
examination? - answer5
The limits of the Employers' Liability section of a standard workers' compensation policy
are: - answerListed on the information page
An insured has purchased BAP physical damage coverage against specified causes of
loss. Protection applies to all of the following perils, EXCEPT: - answerFalling objects
Which of the following statements is NOT TRUE of the Builders' Risk coverage form? -
answerT
An insured carries a liability policy and an umbrella policy. The verdict in a personal
injury liability suit was higher than the insured's underlying liability policy's limit of
insurance. In this situation: - answerThe insurance company providing the insured's
umbrella liability policy can appeal the case at its own expense even if the insured and
the company providing the underlying policy do not appeal.
What is a "notice to show cause?" - answerA notice that states the proposed action may
be taken by the Insurance Department unless the person shows cause at a hearing why
the action should not be taken.
How long can temporary total disability payments be made to an injured employee? -
answer400 weeks
Which of the following is NOT covered by the Federal Employee's Compensation Act
(FECA)? - answerDamages awarded by a court
What is the maximum penalty per violation if a person willfully and knowingly or
intentionally makes any false or misstatement for the purpose of obtaining or denying
benefits or payment of workers compensation coverage? - answer$10,000
If an injured employee hires an attorney to represent them in a workers compensation
claim dispute, what percentage of the income benefits can the attorney charge for the
representation? - answer25%
