Public Adjuster Test Question #1
Public Adjuster Test Question #1
Study online at https://quizlet.com/_jl3dhb
1. The purpose of establishing insurable interest The purpose of establishing insurable
in a property insurance policy is to allow the interest in a property
insurer to collect additional premiums from all is to protect all parties who have inter-
owners of property. est in the property
for one premium.
2. Owned animals, birds or fish are covered for Homeowner policies do not cover an-
replacement imals, birds or fish.
value under homeowners' policies.
3. In a specified (named) perils insurance policy FALSE
only In a specified (named) perils insur-
property in transit losses are covered. ance policy, the policy covers
all insured property that is damaged
by a named peril.
4. Exclusions, in property insurance policies, are war, nuclear hazards and to a certain
written to extent earthquake and floods.
eliminate such perils as
5. Damage caused by subterranean water that EXCLUDED under the personal lines
exerts property forms.
pressure or seeps or leaks through a building,
sidewalk,
driveway, foundation, swimming pool or other
structure
is
6. Actual cash value is defined as the cost of re- FALSE
placing Actual cash value is defined as the re-
property with new property of like kind and placement cost minus depreciation.
quality at
current prices.
Page 1 of 12
, Public Adjuster Test Question #1
Public Adjuster Test Question #1
Study online at https://quizlet.com/_jl3dhb
7. In property claims, the use of a deductible is to A deductible is for the insured to
prohibit share in a loss,thereby preventing
the insured from sharing in the loss. small claims.
8. The coinsurance clause requires the insured To replace the dwelling for full value.
to carry an amount of insurance equal to or
greater than a specified
percentage of the total insured value of the
property, at
least 80% insurance
9. After a loss, the insured must prepare an inven- quantity,
tory of description and actual amount of loss
damaged personal property showing the.. for the insurance company.
10. For inclusion in proof of loss documentation, Expenses covered for additional living
expenses expenses
covered for loss of use under additional living are actual figures spent.
expenses
can be estimated.
11. Receipt of the proof of documentation by the submitted
insurer is in the proof of loss.
considered the formal presentation of the
claim and commits the insured to the facts
sworn to and
12. The appraisal provision in a property insurance concerning the amount of loss.
policy is
designed to resolve differences
13.
Page 2 of 12
Public Adjuster Test Question #1
Study online at https://quizlet.com/_jl3dhb
1. The purpose of establishing insurable interest The purpose of establishing insurable
in a property insurance policy is to allow the interest in a property
insurer to collect additional premiums from all is to protect all parties who have inter-
owners of property. est in the property
for one premium.
2. Owned animals, birds or fish are covered for Homeowner policies do not cover an-
replacement imals, birds or fish.
value under homeowners' policies.
3. In a specified (named) perils insurance policy FALSE
only In a specified (named) perils insur-
property in transit losses are covered. ance policy, the policy covers
all insured property that is damaged
by a named peril.
4. Exclusions, in property insurance policies, are war, nuclear hazards and to a certain
written to extent earthquake and floods.
eliminate such perils as
5. Damage caused by subterranean water that EXCLUDED under the personal lines
exerts property forms.
pressure or seeps or leaks through a building,
sidewalk,
driveway, foundation, swimming pool or other
structure
is
6. Actual cash value is defined as the cost of re- FALSE
placing Actual cash value is defined as the re-
property with new property of like kind and placement cost minus depreciation.
quality at
current prices.
Page 1 of 12
, Public Adjuster Test Question #1
Public Adjuster Test Question #1
Study online at https://quizlet.com/_jl3dhb
7. In property claims, the use of a deductible is to A deductible is for the insured to
prohibit share in a loss,thereby preventing
the insured from sharing in the loss. small claims.
8. The coinsurance clause requires the insured To replace the dwelling for full value.
to carry an amount of insurance equal to or
greater than a specified
percentage of the total insured value of the
property, at
least 80% insurance
9. After a loss, the insured must prepare an inven- quantity,
tory of description and actual amount of loss
damaged personal property showing the.. for the insurance company.
10. For inclusion in proof of loss documentation, Expenses covered for additional living
expenses expenses
covered for loss of use under additional living are actual figures spent.
expenses
can be estimated.
11. Receipt of the proof of documentation by the submitted
insurer is in the proof of loss.
considered the formal presentation of the
claim and commits the insured to the facts
sworn to and
12. The appraisal provision in a property insurance concerning the amount of loss.
policy is
designed to resolve differences
13.
Page 2 of 12
