Insurance Adjuster Final Exam
Questions with Solved Solutions 2025-
2026 Updated.
Which kind of losses are covered under a standard fire policy? - Answer Direct
All fires are not covered by the Standard Fire policies, only those that: - Answer are hostile
and have a flame or glow
At what time does a fire policy go into effect? - 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? -
Answer $5,000
A fire burning in the middle of the living room would be considered: - 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: - Answer
subrogation
Which of the following statements are true concerning requirements of the standard fire policy?
- 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? - Answer
accounts, currency, deeds, and securities
Who is insured under the Standard Fire policy? - Answer the named insured and his legal
representatives
An agreement which affords temporary insurance protection until the policy is issued is called: -
Answer a binder
as a general rule, a complete fire insurance policy would be made up of: - 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 - Answer over-insurance
replacement cost minus depreciation: - Answer Actual Cash Value (ACV)
The Standard Fire policy with an extended coverage endorsement attached covers which of the
following: - Answer riot
A loss due to order of Civil Authority: - 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 : - 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? - Answer 60 days after April
30th
For recovery under the Standard Fire policy, a party must: - 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? - Answer None
Once elected, how long is the insurance commissioner's term? - Answer 4 years
Is there a limit on the number of terms an insurance commissioner can serve? - Answer No
Who is Georgia's current insurance commissioner? - Answer Ralph Hudgens
What two capacities does Georgia's insurance commissioner serve? - Answer 1. Chief Officer
of Insurance Dept.
2. Chief Fire Marshall
, What happens if the Insurance Commissioner has to resign early? - Answer No election; the
Chief Deputy will take over
What is the requirement to serve as Chief Deputy in Georgia? - 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? - Answer once every 5 years
Only one court in Georgia has the right to overturn the decision of the Insurance Commissioner.
Which is it? - Answer Superior Court of Fulton County
What certificate is required for a company to be an authorized insurer in Georgia? - Answer
Certificate of Authority
Surplus Lines Risk - Answer has been rejected by 3 authorized insurers
What is the primary reason the state of Georgia would revoke an insurance company's
certificate to authorize? - Answer if they're under financial distress
What are the requirements to be a licensed producer in Georgia? - Answer must be at least
18 years old, take a 40 hour course, pass licensing exam, apply for license, pass background
check
Which of the following would be considered an "offer"? - Answer the applicant submits an
application to the company with payment
All of the following are true about insurable risk except:
a) the loss must not be catastrophic in nature
b) the loss must be large enough to create hardship
c) the loss must not be definite and definable
d) the law of large numbers should apply - Answer c) the loss must not be definite and
definable
all of the following are parts of the insurance contract except:
a) declarations
b) insuring agreements
c) conditions
Questions with Solved Solutions 2025-
2026 Updated.
Which kind of losses are covered under a standard fire policy? - Answer Direct
All fires are not covered by the Standard Fire policies, only those that: - Answer are hostile
and have a flame or glow
At what time does a fire policy go into effect? - 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? -
Answer $5,000
A fire burning in the middle of the living room would be considered: - 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: - Answer
subrogation
Which of the following statements are true concerning requirements of the standard fire policy?
- 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? - Answer
accounts, currency, deeds, and securities
Who is insured under the Standard Fire policy? - Answer the named insured and his legal
representatives
An agreement which affords temporary insurance protection until the policy is issued is called: -
Answer a binder
as a general rule, a complete fire insurance policy would be made up of: - 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 - Answer over-insurance
replacement cost minus depreciation: - Answer Actual Cash Value (ACV)
The Standard Fire policy with an extended coverage endorsement attached covers which of the
following: - Answer riot
A loss due to order of Civil Authority: - 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 : - 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? - Answer 60 days after April
30th
For recovery under the Standard Fire policy, a party must: - 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? - Answer None
Once elected, how long is the insurance commissioner's term? - Answer 4 years
Is there a limit on the number of terms an insurance commissioner can serve? - Answer No
Who is Georgia's current insurance commissioner? - Answer Ralph Hudgens
What two capacities does Georgia's insurance commissioner serve? - Answer 1. Chief Officer
of Insurance Dept.
2. Chief Fire Marshall
, What happens if the Insurance Commissioner has to resign early? - Answer No election; the
Chief Deputy will take over
What is the requirement to serve as Chief Deputy in Georgia? - 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? - Answer once every 5 years
Only one court in Georgia has the right to overturn the decision of the Insurance Commissioner.
Which is it? - Answer Superior Court of Fulton County
What certificate is required for a company to be an authorized insurer in Georgia? - Answer
Certificate of Authority
Surplus Lines Risk - Answer has been rejected by 3 authorized insurers
What is the primary reason the state of Georgia would revoke an insurance company's
certificate to authorize? - Answer if they're under financial distress
What are the requirements to be a licensed producer in Georgia? - Answer must be at least
18 years old, take a 40 hour course, pass licensing exam, apply for license, pass background
check
Which of the following would be considered an "offer"? - Answer the applicant submits an
application to the company with payment
All of the following are true about insurable risk except:
a) the loss must not be catastrophic in nature
b) the loss must be large enough to create hardship
c) the loss must not be definite and definable
d) the law of large numbers should apply - Answer c) the loss must not be definite and
definable
all of the following are parts of the insurance contract except:
a) declarations
b) insuring agreements
c) conditions
