MARYLAND PUBLIC ADJUSTER EXAM
STUDY GUIDE CORRECTLY ANSWERED
TEST BANK 2026 UPDATED QUESTIONS
WITH ANSWERS GRADED A+
⩥ Days to rescind a contract. Answer: 3 calendar days
⩥ Public Adjuster minimum standards. Answer: Title must read Public
Adjuster contract
Name phone number address and business name of Adjuster
Address of the insured and name
Percentage of the payments received
execution date and signatures
right to cancel
⩥ How can an adjuster collect his fee?. Answer: a percentage of each
check, not the lump sum
,⩥ Are late fees or collection costs prohibited?. Answer: Yes
⩥ Refund payments, return instruments, and take necessary actions
under contract. Answer: 15 working days
⩥ Notify an insurer of contract execution, communicate in writing, reply
to written communication from an insurer. Answer: 2 business days
⩥ Acknowledge receipt of a claim. Answer: 10 working days
⩥ Provide claim forms and reasonable assistance. Answer: 10 working
days
⩥ Respond to an insurance department inquiry. Answer: 15 working
days
⩥ Complete investigation. Answer: 30 working days
⩥ accept or deny a claim after proof of loss is executed. Answer: 15
working days
, ⩥ Elements of a contract. Answer: Agreement, Consideration,
Competent Parties, Legal purpose
⩥ Contract of Adhesion. Answer: No opportunity to change, must be
adhered to
⩥ Aleatory Contracts. Answer: Based upon the occurrence of a future
event of unequal bargaining value
⩥ Personal Contract. Answer: Highest degree of good faith
⩥ Unilateral contract. Answer: Act exchanged for a promise
⩥ Conditional Contract. Answer: contingent upon certain acts by the
insured
⩥ Ambiguities. Answer: not being clear, goes against the insurance
company
⩥ Indemnity. Answer: Principle of restoring the extent of the loss
⩥ Subrogation. Answer: going after the third party's negligence
STUDY GUIDE CORRECTLY ANSWERED
TEST BANK 2026 UPDATED QUESTIONS
WITH ANSWERS GRADED A+
⩥ Days to rescind a contract. Answer: 3 calendar days
⩥ Public Adjuster minimum standards. Answer: Title must read Public
Adjuster contract
Name phone number address and business name of Adjuster
Address of the insured and name
Percentage of the payments received
execution date and signatures
right to cancel
⩥ How can an adjuster collect his fee?. Answer: a percentage of each
check, not the lump sum
,⩥ Are late fees or collection costs prohibited?. Answer: Yes
⩥ Refund payments, return instruments, and take necessary actions
under contract. Answer: 15 working days
⩥ Notify an insurer of contract execution, communicate in writing, reply
to written communication from an insurer. Answer: 2 business days
⩥ Acknowledge receipt of a claim. Answer: 10 working days
⩥ Provide claim forms and reasonable assistance. Answer: 10 working
days
⩥ Respond to an insurance department inquiry. Answer: 15 working
days
⩥ Complete investigation. Answer: 30 working days
⩥ accept or deny a claim after proof of loss is executed. Answer: 15
working days
, ⩥ Elements of a contract. Answer: Agreement, Consideration,
Competent Parties, Legal purpose
⩥ Contract of Adhesion. Answer: No opportunity to change, must be
adhered to
⩥ Aleatory Contracts. Answer: Based upon the occurrence of a future
event of unequal bargaining value
⩥ Personal Contract. Answer: Highest degree of good faith
⩥ Unilateral contract. Answer: Act exchanged for a promise
⩥ Conditional Contract. Answer: contingent upon certain acts by the
insured
⩥ Ambiguities. Answer: not being clear, goes against the insurance
company
⩥ Indemnity. Answer: Principle of restoring the extent of the loss
⩥ Subrogation. Answer: going after the third party's negligence
