Insurance Adjuster Exam:questions and answers with complete solution 2025

Insurance Adjuster Exam/questions and
answers with complete solution 2025
Which kind of losses are covered under a standard fire policy?
:~CORRECT ANSWER~Direct



All fires are not covered by the Standard Fire policies, only those that:
:~CORRECT ANSWER~are hostile and have a flame or glow



At what time does a fire policy go into affect? :~CORRECT
ANSWER~12:01am standard time at the location of the insured's property



A property is insured under two Standard Fire policies for $25,000 each. A
fire causes $10,000 worth of damage. What is the maximum amount the
insured may collect under each policy? :~CORRECT ANSWER~$5,000



A fire burning in the middle of the living room would be considered:
:~CORRECT ANSWER~a hostile fire



An insured's house is damaged by fire caused by a neighbor's negligence.
The insurance company will attempt to recover damage from the neighbor.
This is called: :~CORRECT ANSWER~subrogation



Which of the following statements are true concerning requirements of the
standard fire policy? :~CORRECT ANSWER~The insured must separate

,damaged from undamaged property in the event there is a loss AND If a
loss occurs, the insured normally has 60 days to file a proof of loss with the
insurer



Which types of property are excluded from coverage under the basic fire
policy? :~CORRECT ANSWER~accounts, currency, deeds, and securities



Who is insured under the Standard Fire policy? :~CORRECT
ANSWER~the named insured and his legal representatives



An agreement which affords temporary insurance protection until the
policy is issued is called: :~CORRECT ANSWER~a binder



as a general rule, a complete fire insurance policy would be made up of:
:~CORRECT ANSWER~the Standard Fire policy with one or more forms
attached



The one condition listed below which will not void a fire policy:

a) false swearing

b) misrepresentation

c) over-insurance

d) concealment :~CORRECT ANSWER~over-insurance

,replacement cost minus depreciation: :~CORRECT ANSWER~Actual Cash
Value (ACV)



The Standard Fire policy with an extended coverage endorsement attached
covers which of the following: :~CORRECT ANSWER~riot



A loss due to order of Civil Authority: :~CORRECT ANSWER~is excluded
unless the loss occurs because of an order by Civil Authorities for the
purpose of controlling a fire



The term "unoccupancy" refers to the absence of : :~CORRECT
ANSWER~persons from a building



Suppose a fire occurs on February 26th. On April 30th, the insurance
company notifies the mortgagee the insured has not filed a proof of loss. To
protect their interest, the mortgagee must file a proof of loss within
_________ days after what date? :~CORRECT ANSWER~60 days after
April 30th



For recovery under the Standard Fire policy, a party must: :~CORRECT
ANSWER~be named in the policy and show an insurable interest in the
property at the time the loss occurs



What is the requirement on how much experience one must have to be
elected the insurance commissioner in Georgia? :~CORRECT
ANSWER~None

, Once elected, how long is the insurance commissioner's term?
:~CORRECT ANSWER~4 years



Is there a limit on the number of terms an insurance commissioner can
serve? :~CORRECT ANSWER~No



Who is Georgia's current insurance commissioner? :~CORRECT
ANSWER~Ralph Hudgens



What two capacities does Georgia's insurance commissioner serve?
:~CORRECT ANSWER~1. Chief Officer of Insurance Dept.

2. Chief Fire Marshall



What happens if the Insurance Commissioner has to resign early?
:~CORRECT ANSWER~No election; the Chief Deputy will take over



What is the requirement to serve as Chief Deputy in Georgia? :~CORRECT
ANSWER~must have a bond in the amount of $15,000



If you are a domestic insurer in Georgia, how often does code say your
financials must be examined? :~CORRECT ANSWER~once every 5 years