6-20 Claims Adjuster
6-20 Claims Adjuster
Study online at https://quizlet.com/_9t5adj
1. The following are basic characteristics of a property or C. Loss Settlement Con-
liability insurance contract, EXCEPT: tract
A. Personal Contract
B. Conditional Contract
C. Loss Settlement Contract
D. Contract of Adhesion
2. The Insurers responsibility to pay for a property loss A. Conditional Contract
may be conditioned on the insured having used rea-
sonable means to avoid the loss, to protect the prop-
erty against further loss, and to give the insurer proof
of the loss is defined as?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above
3. A(n) __________ is one wherein economic loss would be D. Insurable Interest
suffered from an adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest
4. The __________ states that when there is an unbroken A. Doctrine of Proximate
connection between an occurrence and damage that Cause
grows out of the occurrence, then the resultant dam-
age is all a part of the occurrence.
A. Doctrine of Proximate Cause
, 6-20 Claims Adjuster
6-20 Claims Adjuster
Study online at https://quizlet.com/_9t5adj
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance
5. Frank owned a home that was destroyed by a hurri- D. All listed interests
cane. Both ABC and XYZ Banks were listed as addition-
al interests on his homeowner policy. The insurance
company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests
6. The Loss Settlement Valuation that subtracts an al- A. Actual Cash Value
lowance for depreciation is defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old For New"
D. None of the Above
7. Insurance applies separately to each insured as if oth- A. Severability
er insureds did not exist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the Above
8. States that if the insurer adopts a revision which would D. Liberalization
broaden coverage without additional premium within
some period of time prior to the policy period or dur-
, 6-20 Claims Adjuster
6-20 Claims Adjuster
Study online at https://quizlet.com/_9t5adj
ing the policy period, the insured receives the benefit
of such broadened coverage. (Usually 60 days)
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization
9. Property insurance policies usually contain a(n) B. Abandonment
__________ clause, stating the insured cannot dump
damaged property on the insurer and demand its full
value:
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the Above
10. A policy condition, either based on information in the A. Warranty
insured's application or inserted by the insurer, is de-
fined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above
11. If financial responsibility doesn't exist at the time of an C. Both A&B
accident, which of the following things must happen
to avoid penalties?
A. The legally valid claims of others must be satisfied
(up to 10/20/10)
, 6-20 Claims Adjuster
6-20 Claims Adjuster
Study online at https://quizlet.com/_9t5adj
B. The owner and operator must provide certification
of future responsibility for future accidents
C. Both A&B
D. None of the Above
12. Jim has had an auto policy with the Wonderful Insur- B. False
ance Group for 3 years. 30 days before his renewal
date he receives notice of the company's intention
to non-renew because of 3 negligent losses and 1
speeding ticket in the past 3 years. His driving record
and claim history make this a valid non-renewal.
A. True
B. False
13. Personal Injury Protection, or PIP, has a __________ per A. 10,000
person, per accident limit.
A. 10,000
B. 20,000
C. 1,000
D. Depends on the damaged property
14. While driving his own car, Bill is involved in an accident C. His PIP, his Med Pay,
that is the fault of the other driver, Mike. He looks to Mike's Liability, his UM.
collect for his injuries in the following order:
A. His PIP, Mike's Liability, his UM, his Med Pay.
B. Mike's Liability, his PIP, his Med Pay, his UM.
C. His PIP, his Med Pay, Mike's Liability, his UM.
D. His PIP, his Med Pay, His UM, Mike's Liability.
15. A. $1,600
6-20 Claims Adjuster
Study online at https://quizlet.com/_9t5adj
1. The following are basic characteristics of a property or C. Loss Settlement Con-
liability insurance contract, EXCEPT: tract
A. Personal Contract
B. Conditional Contract
C. Loss Settlement Contract
D. Contract of Adhesion
2. The Insurers responsibility to pay for a property loss A. Conditional Contract
may be conditioned on the insured having used rea-
sonable means to avoid the loss, to protect the prop-
erty against further loss, and to give the insurer proof
of the loss is defined as?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above
3. A(n) __________ is one wherein economic loss would be D. Insurable Interest
suffered from an adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest
4. The __________ states that when there is an unbroken A. Doctrine of Proximate
connection between an occurrence and damage that Cause
grows out of the occurrence, then the resultant dam-
age is all a part of the occurrence.
A. Doctrine of Proximate Cause
, 6-20 Claims Adjuster
6-20 Claims Adjuster
Study online at https://quizlet.com/_9t5adj
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance
5. Frank owned a home that was destroyed by a hurri- D. All listed interests
cane. Both ABC and XYZ Banks were listed as addition-
al interests on his homeowner policy. The insurance
company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests
6. The Loss Settlement Valuation that subtracts an al- A. Actual Cash Value
lowance for depreciation is defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old For New"
D. None of the Above
7. Insurance applies separately to each insured as if oth- A. Severability
er insureds did not exist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the Above
8. States that if the insurer adopts a revision which would D. Liberalization
broaden coverage without additional premium within
some period of time prior to the policy period or dur-
, 6-20 Claims Adjuster
6-20 Claims Adjuster
Study online at https://quizlet.com/_9t5adj
ing the policy period, the insured receives the benefit
of such broadened coverage. (Usually 60 days)
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization
9. Property insurance policies usually contain a(n) B. Abandonment
__________ clause, stating the insured cannot dump
damaged property on the insurer and demand its full
value:
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the Above
10. A policy condition, either based on information in the A. Warranty
insured's application or inserted by the insurer, is de-
fined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above
11. If financial responsibility doesn't exist at the time of an C. Both A&B
accident, which of the following things must happen
to avoid penalties?
A. The legally valid claims of others must be satisfied
(up to 10/20/10)
, 6-20 Claims Adjuster
6-20 Claims Adjuster
Study online at https://quizlet.com/_9t5adj
B. The owner and operator must provide certification
of future responsibility for future accidents
C. Both A&B
D. None of the Above
12. Jim has had an auto policy with the Wonderful Insur- B. False
ance Group for 3 years. 30 days before his renewal
date he receives notice of the company's intention
to non-renew because of 3 negligent losses and 1
speeding ticket in the past 3 years. His driving record
and claim history make this a valid non-renewal.
A. True
B. False
13. Personal Injury Protection, or PIP, has a __________ per A. 10,000
person, per accident limit.
A. 10,000
B. 20,000
C. 1,000
D. Depends on the damaged property
14. While driving his own car, Bill is involved in an accident C. His PIP, his Med Pay,
that is the fault of the other driver, Mike. He looks to Mike's Liability, his UM.
collect for his injuries in the following order:
A. His PIP, Mike's Liability, his UM, his Med Pay.
B. Mike's Liability, his PIP, his Med Pay, his UM.
C. His PIP, his Med Pay, Mike's Liability, his UM.
D. His PIP, his Med Pay, His UM, Mike's Liability.
15. A. $1,600
