Claims Adjuster BOARD EVALUATION
2026 GUARANTEED PASS ANSWERS
GRADED A+
● Insurance Transaction includes: Answer: -Solicitation of insurance
-Negotiations;
-Binding, underwriting and sale of insurance;
-Handling or "adjusting" of claims
● The Role of Insurance is: Answer: - Essential Product
-Financial Product
- Purchase of a Promise
-Purchase based on TRUST
● The different types of insurance are: Answer: -Health
-Life
-Property
-Casualty
● When you buy insurance, you are buying: Answer: Peace of Mind
,● Insurance is a Purchase based on: Answer: Trust
● The most important factor in the purchase of insurance is: Answer:
Trust
● An assertion of an alleged legal right against a person, entity,
company or insurer that carries with it a demand for relief is: Answer:
Claim
● Is the same as a request, demand, a letter requesting action, a bill
submitted for payment: Answer: Assertion
● Means that the claim may or may not be valid or legitimate, or that
there may not be any legal right for belief: Answer: Alleged
● Relief: Answer: Compensation or payment. Can also mean:
-restitution
-return
-recovery
-replacement
Takes form in property or money
● Third Party Claim: Answer: A claim made by a third party against an
"insured" person or entity
, ● First Party Claim: Answer: A claim made by a policy holder against
his/her own insurance company for recovery under the policy (contract)
for which a premium has been paid
● Carrier's Claim Handling Goal #1: Answer: To help those who have
been injured or who have suffered loss for which the insured is
responsible or which is covered by the insurance contract
● Carrier's Claim Handling Goal #2: Answer: To minimize loss for the
insured party and the carrier. To fairly evaluate the legitimacy and
legality of a claim and its value and resolve satisfactory
● Carrier's Claim Handling Goal #3: Answer: -To comply with the
requirements of the law or terms of the insurance contract
-To pay claims fairly and adequately
● Carrier's Claim Handling Goal #4: Answer: To maintain friendly and
satisfactory relations between the injured party, the employer or policy
holder, the insurance company an the public
● Carrier's Claim Handling Goal #5: Answer: To satisfy the company's
moral and ethical obligation to the public and conduct business (claims)
in a friendly, helpful manner
2026 GUARANTEED PASS ANSWERS
GRADED A+
● Insurance Transaction includes: Answer: -Solicitation of insurance
-Negotiations;
-Binding, underwriting and sale of insurance;
-Handling or "adjusting" of claims
● The Role of Insurance is: Answer: - Essential Product
-Financial Product
- Purchase of a Promise
-Purchase based on TRUST
● The different types of insurance are: Answer: -Health
-Life
-Property
-Casualty
● When you buy insurance, you are buying: Answer: Peace of Mind
,● Insurance is a Purchase based on: Answer: Trust
● The most important factor in the purchase of insurance is: Answer:
Trust
● An assertion of an alleged legal right against a person, entity,
company or insurer that carries with it a demand for relief is: Answer:
Claim
● Is the same as a request, demand, a letter requesting action, a bill
submitted for payment: Answer: Assertion
● Means that the claim may or may not be valid or legitimate, or that
there may not be any legal right for belief: Answer: Alleged
● Relief: Answer: Compensation or payment. Can also mean:
-restitution
-return
-recovery
-replacement
Takes form in property or money
● Third Party Claim: Answer: A claim made by a third party against an
"insured" person or entity
, ● First Party Claim: Answer: A claim made by a policy holder against
his/her own insurance company for recovery under the policy (contract)
for which a premium has been paid
● Carrier's Claim Handling Goal #1: Answer: To help those who have
been injured or who have suffered loss for which the insured is
responsible or which is covered by the insurance contract
● Carrier's Claim Handling Goal #2: Answer: To minimize loss for the
insured party and the carrier. To fairly evaluate the legitimacy and
legality of a claim and its value and resolve satisfactory
● Carrier's Claim Handling Goal #3: Answer: -To comply with the
requirements of the law or terms of the insurance contract
-To pay claims fairly and adequately
● Carrier's Claim Handling Goal #4: Answer: To maintain friendly and
satisfactory relations between the injured party, the employer or policy
holder, the insurance company an the public
● Carrier's Claim Handling Goal #5: Answer: To satisfy the company's
moral and ethical obligation to the public and conduct business (claims)
in a friendly, helpful manner
