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Georgia Insurance Adjuster Exam Actual Exam 2025 |
Complete Questions and Correct Answers | Verified
Answers | Just Released
Consequential also known as Indirect Loss - (ANSWER)An insured's business is
damaged because of a fire and he is forced to close business temporarily for
repairs. As a result the insured lost income. What type of loss is this?
Combined Single - (ANSWER)The insured crashes into a porch and the person
sitting on the porch. The person on the porch is injured. The insured's insurance
policy has a limit set at $500,000. This amount applies to the total of damages for
any bodily injury and property damage resulting from one accident. Which type of
limit of liability does the insured have? This single dollar limit of liability applying
to the total of damages for bodily injury and property damage combined resulting
from one accident or occurrence
$100,000 - (ANSWER)If a liability policy had split limits of 100/300/100, what is
the maximum amount that would be payable in the event of injury to a single
person? The first limit shown is the most the policy will pay for bodily injury to
any one person
Absolute - (ANSWER)What kind of liability would a person with a swimming pool
have?
Any conduct that is inherently dangerous imposes this liability. The claimant does
not have to prove anythhing.
Only to individuals - (ANSWER)An agent license can be issued
, 2
A change in the risk that substantially increases the hazard insured against -
(ANSWER)If a policy has been in affect for at least 60 days or is due for renewal, a
cancellation may only be affected for this reason
Authorized Insurer - (ANSWER)An insurer that holds a Certificate of Authority in
the state in which it transacts business is considered to be
15% - (ANSWER)An insured must get advanced warning if the premiums will be
increased by more than
Written notice of an increase in premiums that exceed this amount of the current
policy's premium must be delivered or mailed to the insured at least 45 days
before the effective date of the change
Indemnity - (ANSWER)The insurance principle that states if a policy allows for
greater compensation than the financial loss incurred, the insured may only
receive benefits for the amount lost.
Loss - (ANSWER)Insurance is a contract by which one seeks to protect another
from
Pair and Set Clause - (ANSWER)The loss settlement based on the reasonable and
fair portion that the lost or damaged part bears to the total value of the set
, 3
In the event of a loss to only part of a pair or set, losses will be settled either by
repairing or replacing the damaged part or by paying the difference between the
actual cash value before and after the loss.
Provides the insurer a method of settling a loss when only a part of the insured
pair or set is damaged. The insurer will pay for the loss or damage to an insured
item, plus the amount that the loss of one item detracts from the value of
undamaged item(s) of the pair or set.
Insuring clause, Exclusions, Conditions - (ANSWER)The essential parts of an
insurance policy
Conditions - (ANSWER)Because an insurance policy is legal contract, it must
conform to the state laws governing contracts which require all the following
statements except
Legal purpose, Consideration, Conditions, Offer and Acceptance
Beneficiary's consent - (ANSWER)An insurance contract must contain all of the
following to be considered legally binding EXCEPT
Offer and Acceptance, Consideration, Beneficiary's Consent, Competent Parties
The essential elements of a legal contract are
Offer and Acceptance, Consideration, Competent Parties, Legal Purpose
, 4
Consideration - (ANSWER)** Something of value one party gives to another. --
The consideration on the part of the insured is the payment of premium and the
representations made in the policy.
** When an insured makes truthful statements on the application for insurance
and pays the required premium, it is known as which of the following?
-Consideration is something of value that each party gives to the other. The
consideration on the part of the insured is the payment of premium and the
representations made in the application.
A specific time (usually 60 days, time may vary) - (ANSWER)In the event of a loss
covered by the policy, the named insured is required to submit to the insurer a
signed sworn proof of loss within
Garagekeepers Liability - (ANSWER)Physical damage coverage on customers'
autos while in care, custody and control of the garage operation.
No coverage is provided for autos stored for more than 45 days at a location not
shown in the declarations - (ANSWER)Which of the following statements is true
regarding physical damage coverage in a garage form?
Collision coverage is provided only for dealers
Autos held for sale by a dealer are listed individually in the policy
Georgia Insurance Adjuster Exam Actual Exam 2025 |
Complete Questions and Correct Answers | Verified
Answers | Just Released
Consequential also known as Indirect Loss - (ANSWER)An insured's business is
damaged because of a fire and he is forced to close business temporarily for
repairs. As a result the insured lost income. What type of loss is this?
Combined Single - (ANSWER)The insured crashes into a porch and the person
sitting on the porch. The person on the porch is injured. The insured's insurance
policy has a limit set at $500,000. This amount applies to the total of damages for
any bodily injury and property damage resulting from one accident. Which type of
limit of liability does the insured have? This single dollar limit of liability applying
to the total of damages for bodily injury and property damage combined resulting
from one accident or occurrence
$100,000 - (ANSWER)If a liability policy had split limits of 100/300/100, what is
the maximum amount that would be payable in the event of injury to a single
person? The first limit shown is the most the policy will pay for bodily injury to
any one person
Absolute - (ANSWER)What kind of liability would a person with a swimming pool
have?
Any conduct that is inherently dangerous imposes this liability. The claimant does
not have to prove anythhing.
Only to individuals - (ANSWER)An agent license can be issued
, 2
A change in the risk that substantially increases the hazard insured against -
(ANSWER)If a policy has been in affect for at least 60 days or is due for renewal, a
cancellation may only be affected for this reason
Authorized Insurer - (ANSWER)An insurer that holds a Certificate of Authority in
the state in which it transacts business is considered to be
15% - (ANSWER)An insured must get advanced warning if the premiums will be
increased by more than
Written notice of an increase in premiums that exceed this amount of the current
policy's premium must be delivered or mailed to the insured at least 45 days
before the effective date of the change
Indemnity - (ANSWER)The insurance principle that states if a policy allows for
greater compensation than the financial loss incurred, the insured may only
receive benefits for the amount lost.
Loss - (ANSWER)Insurance is a contract by which one seeks to protect another
from
Pair and Set Clause - (ANSWER)The loss settlement based on the reasonable and
fair portion that the lost or damaged part bears to the total value of the set
, 3
In the event of a loss to only part of a pair or set, losses will be settled either by
repairing or replacing the damaged part or by paying the difference between the
actual cash value before and after the loss.
Provides the insurer a method of settling a loss when only a part of the insured
pair or set is damaged. The insurer will pay for the loss or damage to an insured
item, plus the amount that the loss of one item detracts from the value of
undamaged item(s) of the pair or set.
Insuring clause, Exclusions, Conditions - (ANSWER)The essential parts of an
insurance policy
Conditions - (ANSWER)Because an insurance policy is legal contract, it must
conform to the state laws governing contracts which require all the following
statements except
Legal purpose, Consideration, Conditions, Offer and Acceptance
Beneficiary's consent - (ANSWER)An insurance contract must contain all of the
following to be considered legally binding EXCEPT
Offer and Acceptance, Consideration, Beneficiary's Consent, Competent Parties
The essential elements of a legal contract are
Offer and Acceptance, Consideration, Competent Parties, Legal Purpose
, 4
Consideration - (ANSWER)** Something of value one party gives to another. --
The consideration on the part of the insured is the payment of premium and the
representations made in the policy.
** When an insured makes truthful statements on the application for insurance
and pays the required premium, it is known as which of the following?
-Consideration is something of value that each party gives to the other. The
consideration on the part of the insured is the payment of premium and the
representations made in the application.
A specific time (usually 60 days, time may vary) - (ANSWER)In the event of a loss
covered by the policy, the named insured is required to submit to the insurer a
signed sworn proof of loss within
Garagekeepers Liability - (ANSWER)Physical damage coverage on customers'
autos while in care, custody and control of the garage operation.
No coverage is provided for autos stored for more than 45 days at a location not
shown in the declarations - (ANSWER)Which of the following statements is true
regarding physical damage coverage in a garage form?
Collision coverage is provided only for dealers
Autos held for sale by a dealer are listed individually in the policy
