Page 1 of 89
OKLAHOMA PROPERTY AND CASUALTY ADJUSTER EXAMALL
500 QUESTIONS AND CORRECT DETAILED ANSWERS LATEST
UPDATE THIS YEAR - JUST RELEASED
OKLAHOMA PROPERTY AND CASUALTY ADJUSTER EXAM
Insurers and adjusters must respond to an inquiry from the Commissioner within ____
calendar days from the date of receipt of the inquiry.
a) 5
b) 10
c) 20
d) 30
20
Insurers are required to respond to communications from claimants within ___ days.
a) 5
b) 10
c) 20
d) 30
30
Insurers and adjusters may not offer prizes, goods, or merchandise worth more than $_____
as an inducement to purchase insurance.
a) $10
b) $50
ALL THE BEST CHAMP!!
1
,Page 2 of 89
c) $100
d) $1,000
$100
Define "inducement".
A thing that persuades or influences someone to do something.
What unfair trade practice involves paying or offering to pay anything of value to induce
someone to buy insurance?
a) Rebating
b) Inducement
c) Defamation
d) Nonrenewal
Rebating
Mark knowingly publishes a false statement about the financial condition of Insurance
Company A in order to deter business from them. What type of unfair trade practice has
Mark committed?
a) Rebating
b) Inducement
c) Defamation
d) Nonrenewal
Defamation
An insurer can only cancel a policy by first giving the insured at least 10 days notice if the
policy has been in effect for _____ days.
ALL THE BEST CHAMP!!
2
,Page 3 of 89
a) 5
b) 15
c) 30
d) 45
45
A binder is valid for the shorter of the following two periods: 1) Issuance of the policy for
which the binder was given; or 2) ____ days from the binder's effective date.
a) 10
b) 30
c) 60
d) 90
90 (Think "bind", "nine")
The Fair Credit Reporting Act (FCRA) of 1970 protects the rights of who?
a) consumers
b) financial institutions
c) insurance companies
d) the Commissioner
consumers
The Fair Credit Reporting Act (FCRA) of 1970 applies to who?
a) consumers
b) financial institutions
c) insurance companies
d) both b and c
ALL THE BEST CHAMP!!
3
, Page 4 of 89
both b and c
Employing "bait and switch" advertising, which consists of an offer to sell the subject of a
consumer transaction that the seller does not intend to sell is an example of what?
a) Nonrenewal
b) Deceptive trade practice
c) Prohibited practice
d) Defamation
Deceptive trade practice
Describe the difference between "real property" and "personal property".
Real property is all about the "building" and how it is constructed. Personal property includes
an insured building's "contents" as well as items that can be transported in and out of the
building and unattached items on the land.
What type of construction includes interior and exterior walls of combustible material,
including wood, stucco or plaster on wood, and aluminum or plastic siding?
a) frame
b) masonry veneer
c) masonry
d) superior
frame
In what type of construction do the walls support the house and are constructed of masonry
materials, including adobe, brick, concrete, gypsum block, hollow concrete block, stone, tile,
or similar noncombustible materials.
a) frame
ALL THE BEST CHAMP!!
4
OKLAHOMA PROPERTY AND CASUALTY ADJUSTER EXAMALL
500 QUESTIONS AND CORRECT DETAILED ANSWERS LATEST
UPDATE THIS YEAR - JUST RELEASED
OKLAHOMA PROPERTY AND CASUALTY ADJUSTER EXAM
Insurers and adjusters must respond to an inquiry from the Commissioner within ____
calendar days from the date of receipt of the inquiry.
a) 5
b) 10
c) 20
d) 30
20
Insurers are required to respond to communications from claimants within ___ days.
a) 5
b) 10
c) 20
d) 30
30
Insurers and adjusters may not offer prizes, goods, or merchandise worth more than $_____
as an inducement to purchase insurance.
a) $10
b) $50
ALL THE BEST CHAMP!!
1
,Page 2 of 89
c) $100
d) $1,000
$100
Define "inducement".
A thing that persuades or influences someone to do something.
What unfair trade practice involves paying or offering to pay anything of value to induce
someone to buy insurance?
a) Rebating
b) Inducement
c) Defamation
d) Nonrenewal
Rebating
Mark knowingly publishes a false statement about the financial condition of Insurance
Company A in order to deter business from them. What type of unfair trade practice has
Mark committed?
a) Rebating
b) Inducement
c) Defamation
d) Nonrenewal
Defamation
An insurer can only cancel a policy by first giving the insured at least 10 days notice if the
policy has been in effect for _____ days.
ALL THE BEST CHAMP!!
2
,Page 3 of 89
a) 5
b) 15
c) 30
d) 45
45
A binder is valid for the shorter of the following two periods: 1) Issuance of the policy for
which the binder was given; or 2) ____ days from the binder's effective date.
a) 10
b) 30
c) 60
d) 90
90 (Think "bind", "nine")
The Fair Credit Reporting Act (FCRA) of 1970 protects the rights of who?
a) consumers
b) financial institutions
c) insurance companies
d) the Commissioner
consumers
The Fair Credit Reporting Act (FCRA) of 1970 applies to who?
a) consumers
b) financial institutions
c) insurance companies
d) both b and c
ALL THE BEST CHAMP!!
3
, Page 4 of 89
both b and c
Employing "bait and switch" advertising, which consists of an offer to sell the subject of a
consumer transaction that the seller does not intend to sell is an example of what?
a) Nonrenewal
b) Deceptive trade practice
c) Prohibited practice
d) Defamation
Deceptive trade practice
Describe the difference between "real property" and "personal property".
Real property is all about the "building" and how it is constructed. Personal property includes
an insured building's "contents" as well as items that can be transported in and out of the
building and unattached items on the land.
What type of construction includes interior and exterior walls of combustible material,
including wood, stucco or plaster on wood, and aluminum or plastic siding?
a) frame
b) masonry veneer
c) masonry
d) superior
frame
In what type of construction do the walls support the house and are constructed of masonry
materials, including adobe, brick, concrete, gypsum block, hollow concrete block, stone, tile,
or similar noncombustible materials.
a) frame
ALL THE BEST CHAMP!!
4
