Public Adjuster Exam Questions With Accurate Answers
Public Adjuster - accurate answers-Person, partnership, that represents the
public as an adjuster of claims
Days to rescind a contract - accurate answers-3 calendar days
Public Adjuster minimum standards - accurate answers-Title must read Public
Adjuster contract
Name phone number address and business name of Adjuster
Address of the insured and name
Percentage of the payments received
execution date and signatures
right to cancel
How can an adjuster collect his fee? - accurate answers-a percentage of each
check, not the lump sum
Are late fees or collection costs prohibited? - accurate answers-Yes
Refund payments, return instruments, and take necessary actions under
contract - accurate answers-15 working days
Notify an insurer of contract execution, communicate in writing, reply to
written communication from an insurer - accurate answers-2 business days
Acknowledge receipt of a claim - accurate answers-10 working days
Provide claim forms and reasonable assistance - accurate answers-10 working
days
Respond to an insurance department inquiry - accurate answers-15 working
days
Complete investigation - accurate answers-30 working days
, accept or deny a claim after proof of loss is executed - accurate answers-15
working days
Elements of a contract - accurate answers-Agreement, Consideration,
Competent Parties, Legal purpose
Contract of Adhesion - accurate answers-No opportunity to change, must be
adhered to
Aleatory Contracts - accurate answers-Based upon the occurrence of a future
event of unequal bargaining value
Personal Contract - accurate answers-Highest degree of good faith
Unilateral contract - accurate answers-Act exchanged for a promise
Conditional Contract - accurate answers-contingent upon certain acts by the
insured
Ambiguities - accurate answers-not being clear, goes against the insurance
company
Indemnity - accurate answers-Principle of restoring the extent of the loss
Subrogation - accurate answers-going after the third party's negligence
Material misrepresentation - accurate answers-can reject coverage
Warranties - accurate answers-Affirmative, Promissory, Implied
Insurable interest - accurate answers-Interest in property that may cause one
the probability of financial loss
Hazards - accurate answers-Physical, Moral, and Morale
PIGA Act - accurate answers-300,000 per claim and 10k per policy
Public Adjuster - accurate answers-Person, partnership, that represents the
public as an adjuster of claims
Days to rescind a contract - accurate answers-3 calendar days
Public Adjuster minimum standards - accurate answers-Title must read Public
Adjuster contract
Name phone number address and business name of Adjuster
Address of the insured and name
Percentage of the payments received
execution date and signatures
right to cancel
How can an adjuster collect his fee? - accurate answers-a percentage of each
check, not the lump sum
Are late fees or collection costs prohibited? - accurate answers-Yes
Refund payments, return instruments, and take necessary actions under
contract - accurate answers-15 working days
Notify an insurer of contract execution, communicate in writing, reply to
written communication from an insurer - accurate answers-2 business days
Acknowledge receipt of a claim - accurate answers-10 working days
Provide claim forms and reasonable assistance - accurate answers-10 working
days
Respond to an insurance department inquiry - accurate answers-15 working
days
Complete investigation - accurate answers-30 working days
, accept or deny a claim after proof of loss is executed - accurate answers-15
working days
Elements of a contract - accurate answers-Agreement, Consideration,
Competent Parties, Legal purpose
Contract of Adhesion - accurate answers-No opportunity to change, must be
adhered to
Aleatory Contracts - accurate answers-Based upon the occurrence of a future
event of unequal bargaining value
Personal Contract - accurate answers-Highest degree of good faith
Unilateral contract - accurate answers-Act exchanged for a promise
Conditional Contract - accurate answers-contingent upon certain acts by the
insured
Ambiguities - accurate answers-not being clear, goes against the insurance
company
Indemnity - accurate answers-Principle of restoring the extent of the loss
Subrogation - accurate answers-going after the third party's negligence
Material misrepresentation - accurate answers-can reject coverage
Warranties - accurate answers-Affirmative, Promissory, Implied
Insurable interest - accurate answers-Interest in property that may cause one
the probability of financial loss
Hazards - accurate answers-Physical, Moral, and Morale
PIGA Act - accurate answers-300,000 per claim and 10k per policy
