OKLAHOMA ADJUSTER EXAM 2 \OKLAHOMA
EXAM 2 LATEST VERSION ACTUAL EXAM AND
STUDY GUIDE 259 QUESTIONS AND CORRECT
DETAILED ANSWERS
Terms in this set (259)
An individual applied The Insured
for auto insurance
and obtained
coverage from
EMU
Insurance Company.
Who is the first party
in the contract?
If a fire hazard A peril
causes damage to a
building, the fire
is?
wearing a seatbelt in Reduce
a car is an example
of which method
or managing risk?
Tiffany leaves her Morale
car unlocked when
she goes shopping.
She figures her car
and its contents are
insured, so there is
,no reason to worry.
Which type of
hazard is this an
example of?
An insurance Foreign
company
incorporated in
Oklahoma and
conducting business
in Oklahoma is
known as a
domestic
company. What kind
of company are they
considered if they
do business in
Minnesota?
Which of the a stock company pays dividends
following is true
about stock
companies
Which of the Unilateral
following is not an
element of a legal
contract?
Jill is filling out an A representation
insurance
application with
information that
she believes to be
,true. The
information she is
providing is
considered
A guarantee that a warranty
something is true is
The heart of an The insuring agreement
insurance policy that
sates what will be
covered is called?
What can be found The amount of coverage provided
on the declaration
page?
Nancy purchased an The named insured
auto policy on her
new car. There are
no other insureds
listed on the
declaration page.
Nancy is
considered
The duties following detailed proof of loss
a loss condition lists
the insured's
responsibilities after
a loss.
One of these duties
requires that the
insured completes
an official inventory
of the damages.
, This is known as
Which statement If the insured had paid premiums in advance for
regarding the rights future months, any unused
premium (unearned premium) must be
and responsibilities
returned to the insured upon
of an insurer or
cancellation of a policy
insured when an
insurance contract
is canceled
or nonrenewed
Which ratios would an Loss ratio, expense ratio, and/or combined
insurer use to ratio
evaluate
performance?
Which of the a binder
following terms is an
oral or written
statement made by
the agent that gives
the insured
immediate coverage
for a specified
time?
Which of the A person's interest in the home they own
following is an
example of
insurable interest?
How is the expense by dividing the underwriting expenses by the
ratio calculated ? written premium
What is the primary the application
EXAM 2 LATEST VERSION ACTUAL EXAM AND
STUDY GUIDE 259 QUESTIONS AND CORRECT
DETAILED ANSWERS
Terms in this set (259)
An individual applied The Insured
for auto insurance
and obtained
coverage from
EMU
Insurance Company.
Who is the first party
in the contract?
If a fire hazard A peril
causes damage to a
building, the fire
is?
wearing a seatbelt in Reduce
a car is an example
of which method
or managing risk?
Tiffany leaves her Morale
car unlocked when
she goes shopping.
She figures her car
and its contents are
insured, so there is
,no reason to worry.
Which type of
hazard is this an
example of?
An insurance Foreign
company
incorporated in
Oklahoma and
conducting business
in Oklahoma is
known as a
domestic
company. What kind
of company are they
considered if they
do business in
Minnesota?
Which of the a stock company pays dividends
following is true
about stock
companies
Which of the Unilateral
following is not an
element of a legal
contract?
Jill is filling out an A representation
insurance
application with
information that
she believes to be
,true. The
information she is
providing is
considered
A guarantee that a warranty
something is true is
The heart of an The insuring agreement
insurance policy that
sates what will be
covered is called?
What can be found The amount of coverage provided
on the declaration
page?
Nancy purchased an The named insured
auto policy on her
new car. There are
no other insureds
listed on the
declaration page.
Nancy is
considered
The duties following detailed proof of loss
a loss condition lists
the insured's
responsibilities after
a loss.
One of these duties
requires that the
insured completes
an official inventory
of the damages.
, This is known as
Which statement If the insured had paid premiums in advance for
regarding the rights future months, any unused
premium (unearned premium) must be
and responsibilities
returned to the insured upon
of an insurer or
cancellation of a policy
insured when an
insurance contract
is canceled
or nonrenewed
Which ratios would an Loss ratio, expense ratio, and/or combined
insurer use to ratio
evaluate
performance?
Which of the a binder
following terms is an
oral or written
statement made by
the agent that gives
the insured
immediate coverage
for a specified
time?
Which of the A person's interest in the home they own
following is an
example of
insurable interest?
How is the expense by dividing the underwriting expenses by the
ratio calculated ? written premium
What is the primary the application
