GA Adjuster Exam Review
life - answers✔✔In GA, _____insurance cannot be written by a reciprocal type insurer.
Code - answers✔✔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
Binding - answers✔✔Mediation is not _____ on the parties involved, but with arbitration the decision is
final and _____.
Independent Rating Services - answers✔✔Standard and Poor's, A.M. Best and Moody's are examples of:
$500 - answers✔✔What is the application fee for filing to become a self-insurer for workers
compensation in Georgia?
The principal is bound to the decisions of the adjuster. - answers✔✔Insurance adjusters have the
"power to bind". Which of the following statements best describes what this means?
Flood and Earthquake - answers✔✔The perils most frequently covered by a Difference in Conditions
policy are:
Cover claims of insolvent insurers - answers✔✔What is the purpose of the Georgia Insurance Guaranty
Association?
The 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. - answers✔✔Twisting
, Churning 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. - answers✔✔Churning
Rebating — 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. - answers✔✔Rebating
- answers✔✔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.
$15,000 - answers✔✔In Georgia, the Chief Deputy Commissioner must execute a bond in the amount
of:
5 - answers✔✔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?
Listed on the information page - answers✔✔The limits of the Employers' Liability section of a standard
workers' compensation policy are:
Falling objects - answers✔✔An insured has purchased BAP physical damage coverage against specified
causes of loss. Protection applies to all of the following perils, EXCEPT:
T - answers✔✔Which of the following statements is NOT TRUE of the Builders' Risk coverage form?
The 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. -
answers✔✔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:
life - answers✔✔In GA, _____insurance cannot be written by a reciprocal type insurer.
Code - answers✔✔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
Binding - answers✔✔Mediation is not _____ on the parties involved, but with arbitration the decision is
final and _____.
Independent Rating Services - answers✔✔Standard and Poor's, A.M. Best and Moody's are examples of:
$500 - answers✔✔What is the application fee for filing to become a self-insurer for workers
compensation in Georgia?
The principal is bound to the decisions of the adjuster. - answers✔✔Insurance adjusters have the
"power to bind". Which of the following statements best describes what this means?
Flood and Earthquake - answers✔✔The perils most frequently covered by a Difference in Conditions
policy are:
Cover claims of insolvent insurers - answers✔✔What is the purpose of the Georgia Insurance Guaranty
Association?
The 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. - answers✔✔Twisting
, Churning 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. - answers✔✔Churning
Rebating — 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. - answers✔✔Rebating
- answers✔✔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.
$15,000 - answers✔✔In Georgia, the Chief Deputy Commissioner must execute a bond in the amount
of:
5 - answers✔✔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?
Listed on the information page - answers✔✔The limits of the Employers' Liability section of a standard
workers' compensation policy are:
Falling objects - answers✔✔An insured has purchased BAP physical damage coverage against specified
causes of loss. Protection applies to all of the following perils, EXCEPT:
T - answers✔✔Which of the following statements is NOT TRUE of the Builders' Risk coverage form?
The 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. -
answers✔✔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:
