Claims Adjuster Exam Questions and Answers Grade A+
Multi Peril-Package - Answer-Any policy which provides property & liability
coverage (not homeowner)
ISO policy - Answer-Sold in Texas, but not Texas form
Only Texas DP 1 - Answer-Mainly the only TDP sold, now with plethora of
endorsements
Texas Standard Fire Policy - Answer-Granddaddy of all Texas property policies
Business auto coverage e.g. - Answer-Owner of a taxi to cover collision damage
Inland Marine (build milk policy) would cover e.g. - Answer-3k gallons of milk in
tanker truck
Texas Standard, Standard Fire & Business Owner - Answer-Would all cover damage
to something like a gift card shop fire
Tx Personal Auto Policy e.g. - Answer-Owner of family far, for potential injury to
other people
Trucker's policy - Answer-Trucking company, for potential damage to other
people's trailers which the trucking company may be pulling
Actual Cash Value (ACV) - Answer-Replacement cost less depreciation
Garage Liability e.g. - Answer-For valet parking service to have appropriate liability
coverage it needs what kind of policy?
Flood, workers comp, crop, costal wind among others - Answer-Types of casualty
claims I will be unable to handle under license I'm studying for
Ocean Marine Hull coverage - Answer-Would have to be written for an insured to
cover potential collision damage to insured's ship
Covered (if it's not written) - Answer-It's safe to assume that if something is not
excluded in writing it's appropriate to assume that the loss is?
15/15/5 rule - Answer-15 calendar days to send notice you received claim
, 15 business days to resolve case
5 days to pay claim (if applicable)
Options for High Risk Drivers? - Answer-Texas started TAIPA
Risk pool
Minus PIP ($2,500)
Uninsured/underinsured motorist coverage - Answer-What does TAIPA provide?
When can you get TAIPA - Answer-Once you've been rejected by 2 or more
insurance companies
Commercial General Liability coverage - Answer-Covers basically any risk
imaginable that would "cause" bodily injury or property damage
E.g. Customer slip-fall; hit by debris; escalator lurching;poison get well card
Multi peril or package - Answer-Any policy that provides both property and
liability coverage
ISO - Answer-A policy sold in Texas, but is not a Texas Policy form
How many Texas Dwelling policies are sold now? - Answer-ONE
TX Dwelling Form 1 - Answer-The dwelling policy sold in texas
Texas Standard Fire Policy is... - Answer-The granddaddy of all Texas property
policies
E.g. Owner of a taxi who needs collision damage for his own taxi - Answer-
Business auto e.g.
E.g. 3,000 gallons of milk in tanker truck - Answer-Inland Marine (Bulk Milk) e.g.
E.g.Fire damage to small greeting card shop (3 possible policies) - Answer-Texas
Standard Fire, Standard Fire, Business owner e.g.
Actual Cash Value (ACV) - Answer-What is replacement cost less depreciation?
Multi Peril-Package - Answer-Any policy which provides property & liability
coverage (not homeowner)
ISO policy - Answer-Sold in Texas, but not Texas form
Only Texas DP 1 - Answer-Mainly the only TDP sold, now with plethora of
endorsements
Texas Standard Fire Policy - Answer-Granddaddy of all Texas property policies
Business auto coverage e.g. - Answer-Owner of a taxi to cover collision damage
Inland Marine (build milk policy) would cover e.g. - Answer-3k gallons of milk in
tanker truck
Texas Standard, Standard Fire & Business Owner - Answer-Would all cover damage
to something like a gift card shop fire
Tx Personal Auto Policy e.g. - Answer-Owner of family far, for potential injury to
other people
Trucker's policy - Answer-Trucking company, for potential damage to other
people's trailers which the trucking company may be pulling
Actual Cash Value (ACV) - Answer-Replacement cost less depreciation
Garage Liability e.g. - Answer-For valet parking service to have appropriate liability
coverage it needs what kind of policy?
Flood, workers comp, crop, costal wind among others - Answer-Types of casualty
claims I will be unable to handle under license I'm studying for
Ocean Marine Hull coverage - Answer-Would have to be written for an insured to
cover potential collision damage to insured's ship
Covered (if it's not written) - Answer-It's safe to assume that if something is not
excluded in writing it's appropriate to assume that the loss is?
15/15/5 rule - Answer-15 calendar days to send notice you received claim
, 15 business days to resolve case
5 days to pay claim (if applicable)
Options for High Risk Drivers? - Answer-Texas started TAIPA
Risk pool
Minus PIP ($2,500)
Uninsured/underinsured motorist coverage - Answer-What does TAIPA provide?
When can you get TAIPA - Answer-Once you've been rejected by 2 or more
insurance companies
Commercial General Liability coverage - Answer-Covers basically any risk
imaginable that would "cause" bodily injury or property damage
E.g. Customer slip-fall; hit by debris; escalator lurching;poison get well card
Multi peril or package - Answer-Any policy that provides both property and
liability coverage
ISO - Answer-A policy sold in Texas, but is not a Texas Policy form
How many Texas Dwelling policies are sold now? - Answer-ONE
TX Dwelling Form 1 - Answer-The dwelling policy sold in texas
Texas Standard Fire Policy is... - Answer-The granddaddy of all Texas property
policies
E.g. Owner of a taxi who needs collision damage for his own taxi - Answer-
Business auto e.g.
E.g. 3,000 gallons of milk in tanker truck - Answer-Inland Marine (Bulk Milk) e.g.
E.g.Fire damage to small greeting card shop (3 possible policies) - Answer-Texas
Standard Fire, Standard Fire, Business owner e.g.
Actual Cash Value (ACV) - Answer-What is replacement cost less depreciation?
