Insurance Adjuster Exam Test Questions with 100% Verified
Answers Graded A+
Which kind of losses are covered under a insured normally has 60 days to file a proof of
standard fire policy? - ANSWER -Direct loss with the insurer
All fires are not covered by the Standard Fire Which types of property are excluded from
policies, only those that: - ANSWER -are coverage under the basic fire policy? -
hostile and have a flame or glow ANSWER -accounts, currency, deeds, and
securities
At what time does a fire policy go into affect? -
ANSWER -12:01am standard time at the Who is insured under the Standard Fire policy? -
location of the insured's property ANSWER -the named insured and his legal
representatives
A property is insured under two Standard Fire
policies for $25,000 each. A fire causes $10,000 An agreement which affords temporary insurance
worth of damage. What is the maximum amount protection until the policy is issued is called: -
the insured may collect under each policy? - ANSWER -a binder
ANSWER -$5,000
as a general rule, a complete fire insurance
A fire burning in the middle of the living room policy would be made up of: - ANSWER -
would be considered: - ANSWER -a hostile the Standard Fire policy with one or more forms
fire attached
An insured's house is damaged by fire caused by The one condition listed below which will not void
a neighbor's negligence. The insurance company a fire policy:
will attempt to recover damage from the a) false swearing
neighbor. This is called: - ANSWER - b) misrepresentation
subrogation c) over-insurance
d) concealment - ANSWER -over-insurance
Which of the following statements are true
concerning requirements of the standard fire replacement cost minus depreciation: -
policy? - ANSWER -The insured must ANSWER -Actual Cash Value (ACV)
separate damaged from undamaged property in
the event there is a loss AND If a loss occurs, the
,Insurance Adjuster Exam Test Questions with 100% Verified
Answers Graded A+
commissioner's term? - ANSWER -4 years
The Standard Fire policy with an extended
coverage endorsement attached covers which of
the following: - ANSWER -riot
Is there a limit on the number of terms an
insurance commissioner can serve? -
ANSWER -No
A loss due to order of Civil Authority: -
ANSWER -is excluded unless the loss
occurs because of an order by Civil Authorities
for the purpose of controlling a fire Who is Georgia's current insurance
commissioner? - ANSWER -Ralph Hudgens
The term "unoccupancy" refers to the absence of
:- ANSWER -persons from a building What two capacities does Georgia's insurance
commissioner serve? - ANSWER -1. Chief
Officer of Insurance Dept.
2. Chief Fire Marshall
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 What happens if the Insurance Commissioner
must file a proof of loss within _________ days has to resign early? - ANSWER -No
after what date? - ANSWER -60 days after election; the Chief Deputy will take over
April 30th
What is the requirement to serve as Chief Deputy
For recovery under the Standard Fire policy, a in Georgia? - ANSWER -must have a bond
party must: - ANSWER -be named in the in the amount of $15,000
policy and show an insurable interest in the
property at the time the loss occurs
If you are a domestic insurer in Georgia, how
often does code say your financials must be
What is the requirement on how much examined? - ANSWER -once every 5 years
experience one must have to be elected the
insurance commissioner in Georgia? -
ANSWER -None
Only one court in Georgia has the right to
overturn the decision of the Insurance
Commissioner. Which is it? - ANSWER -
Once elected, how long is the insurance Superior Court of Fulton County
, Insurance Adjuster Exam Test Questions with 100% Verified
Answers Graded A+
What certificate is required for a company to be all of the following are parts of the insurance
an authorized insurer in Georgia? - contract except:
ANSWER -Certificate of Authority a) declarations
b) insuring agreements
c) conditions
d) inclusions - ANSWER -d) inclusions
Surplus Lines Risk - ANSWER -has been
rejected by 3 authorized insurers
something that increases the chance of a peril
occurring is known as a(n): - ANSWER -
What is the primary reason the state of Georgia hazard
would revoke an insurance company's certificate
to authorize? - ANSWER -if they're under
financial distress
open peril, or "all risk", forms: - ANSWER -
name the exclusions and limitations
What are the requirements to be a licensed
producer in Georgia? - ANSWER -must be
at least 18 years old, take a 40 hour course, When a person decides not to buy insurance
pass licensing exam, apply for license, pass because of the cost, what method of handling risk
background check has been undertaken? - ANSWER -risk
retention
Which of the following would be considered an
"offer"? - ANSWER -the applicant submits the insurance industry deals with those areas of
an application to the company with payment risk where the chances of loss are: -
ANSWER -anywhere between 0% and
100%
All of the following are true about insurable risk
except:
a) the loss must not be catastrophic in nature which of the following is not an element for the
b) the loss must be large enough to create formation of a valid contract?
hardship a) consideration
c) the loss must not be definite and definable b) legal purpose
d) the law of large numbers should apply - c) agreement
ANSWER -c) the loss must not be definite d) incompetent parties - ANSWER -d)
and definable incompetent parties
Answers Graded A+
Which kind of losses are covered under a insured normally has 60 days to file a proof of
standard fire policy? - ANSWER -Direct loss with the insurer
All fires are not covered by the Standard Fire Which types of property are excluded from
policies, only those that: - ANSWER -are coverage under the basic fire policy? -
hostile and have a flame or glow ANSWER -accounts, currency, deeds, and
securities
At what time does a fire policy go into affect? -
ANSWER -12:01am standard time at the Who is insured under the Standard Fire policy? -
location of the insured's property ANSWER -the named insured and his legal
representatives
A property is insured under two Standard Fire
policies for $25,000 each. A fire causes $10,000 An agreement which affords temporary insurance
worth of damage. What is the maximum amount protection until the policy is issued is called: -
the insured may collect under each policy? - ANSWER -a binder
ANSWER -$5,000
as a general rule, a complete fire insurance
A fire burning in the middle of the living room policy would be made up of: - ANSWER -
would be considered: - ANSWER -a hostile the Standard Fire policy with one or more forms
fire attached
An insured's house is damaged by fire caused by The one condition listed below which will not void
a neighbor's negligence. The insurance company a fire policy:
will attempt to recover damage from the a) false swearing
neighbor. This is called: - ANSWER - b) misrepresentation
subrogation c) over-insurance
d) concealment - ANSWER -over-insurance
Which of the following statements are true
concerning requirements of the standard fire replacement cost minus depreciation: -
policy? - ANSWER -The insured must ANSWER -Actual Cash Value (ACV)
separate damaged from undamaged property in
the event there is a loss AND If a loss occurs, the
,Insurance Adjuster Exam Test Questions with 100% Verified
Answers Graded A+
commissioner's term? - ANSWER -4 years
The Standard Fire policy with an extended
coverage endorsement attached covers which of
the following: - ANSWER -riot
Is there a limit on the number of terms an
insurance commissioner can serve? -
ANSWER -No
A loss due to order of Civil Authority: -
ANSWER -is excluded unless the loss
occurs because of an order by Civil Authorities
for the purpose of controlling a fire Who is Georgia's current insurance
commissioner? - ANSWER -Ralph Hudgens
The term "unoccupancy" refers to the absence of
:- ANSWER -persons from a building What two capacities does Georgia's insurance
commissioner serve? - ANSWER -1. Chief
Officer of Insurance Dept.
2. Chief Fire Marshall
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 What happens if the Insurance Commissioner
must file a proof of loss within _________ days has to resign early? - ANSWER -No
after what date? - ANSWER -60 days after election; the Chief Deputy will take over
April 30th
What is the requirement to serve as Chief Deputy
For recovery under the Standard Fire policy, a in Georgia? - ANSWER -must have a bond
party must: - ANSWER -be named in the in the amount of $15,000
policy and show an insurable interest in the
property at the time the loss occurs
If you are a domestic insurer in Georgia, how
often does code say your financials must be
What is the requirement on how much examined? - ANSWER -once every 5 years
experience one must have to be elected the
insurance commissioner in Georgia? -
ANSWER -None
Only one court in Georgia has the right to
overturn the decision of the Insurance
Commissioner. Which is it? - ANSWER -
Once elected, how long is the insurance Superior Court of Fulton County
, Insurance Adjuster Exam Test Questions with 100% Verified
Answers Graded A+
What certificate is required for a company to be all of the following are parts of the insurance
an authorized insurer in Georgia? - contract except:
ANSWER -Certificate of Authority a) declarations
b) insuring agreements
c) conditions
d) inclusions - ANSWER -d) inclusions
Surplus Lines Risk - ANSWER -has been
rejected by 3 authorized insurers
something that increases the chance of a peril
occurring is known as a(n): - ANSWER -
What is the primary reason the state of Georgia hazard
would revoke an insurance company's certificate
to authorize? - ANSWER -if they're under
financial distress
open peril, or "all risk", forms: - ANSWER -
name the exclusions and limitations
What are the requirements to be a licensed
producer in Georgia? - ANSWER -must be
at least 18 years old, take a 40 hour course, When a person decides not to buy insurance
pass licensing exam, apply for license, pass because of the cost, what method of handling risk
background check has been undertaken? - ANSWER -risk
retention
Which of the following would be considered an
"offer"? - ANSWER -the applicant submits the insurance industry deals with those areas of
an application to the company with payment risk where the chances of loss are: -
ANSWER -anywhere between 0% and
100%
All of the following are true about insurable risk
except:
a) the loss must not be catastrophic in nature which of the following is not an element for the
b) the loss must be large enough to create formation of a valid contract?
hardship a) consideration
c) the loss must not be definite and definable b) legal purpose
d) the law of large numbers should apply - c) agreement
ANSWER -c) the loss must not be definite d) incompetent parties - ANSWER -d)
and definable incompetent parties
