CLAIMS ADJUSTER
UPDATED ACTUAL EXAM QUESTIONS AND CORRECT
ANSWERS
Question 1.
Article 542.003 (claim to be paid)
ANSWER
We have 5 business days to make payment once we have told insured claim or part of claim
will be paid
Question 2.
Insurance for Insurance companies
ANSWER
Reassurance in very simple terms...
Question 3.
E.g.Fire damage to small greeting card shop (3 possible policies)
ANSWER
Texas Standard Fire, Standard Fire, Business owner e.g.
Question 4.
You will find this phrase in insuring agreement e.g.
ANSWER
Other than declaration, where in broad form policy will you find phrase "collapse of building"?
E.g.
Question 5.
Known as Gap Coverage
ANSWER
In an umbrella policy there is a provision that allows for payment in case underlying policies
exclude coverage for even which is....
,Question 6.
Flood, workers comp, crop, costal wind among others
ANSWER
Types of casualty claims I will be unable to handle under license I'm studying for
Question 7.
Must have 30 hours
ANSWER
Upon receipt of License you're required to have how many hours of continuing education
before next renewal
Question 8.
At least 80% of replacement e.g.
ANSWER
In all risk TDP what % of actual replacement cost must be insured to actually have replacement
cost coverage? E.g.
Question 9.
Friendly fire--classified as
ANSWER
Fire that is intentionally set & remains within its intended boundaries is classified as
Question 10.
Dwelling Form 3 or equivalent e.g.
ANSWER
Policy a landlord purchase would provide best coverage on a rental property e.g.
Question 11.
Named insured, spouse if living in same household e.g.
ANSWER
Most exclusions in policy take away something then give it back by saying "does not apply to
you or any family member."..... Who is "you"?.... E.g.
, Question 12.
Multi Peril-Package
ANSWER
Any policy which provides property & liability coverage (not homeowner)
Question 13.
TX Dwelling Form 1
ANSWER
The dwelling policy sold in texas
Question 14.
Negotiation
ANSWER
When 2 or more parties talk out a solution to a dispute; mutually agreeable compromise; "act
of "talking it out"
Question 15.
Multi peril or package
ANSWER
Any policy that provides both property and liability coverage
Question 16.
Insured and covered persons
ANSWER
Medical payments coverage on auto policy provide medical benefits for injury to...
Question 17.
You have 91 days
ANSWER
In an umbrella policy there is a provision that
UPDATED ACTUAL EXAM QUESTIONS AND CORRECT
ANSWERS
Question 1.
Article 542.003 (claim to be paid)
ANSWER
We have 5 business days to make payment once we have told insured claim or part of claim
will be paid
Question 2.
Insurance for Insurance companies
ANSWER
Reassurance in very simple terms...
Question 3.
E.g.Fire damage to small greeting card shop (3 possible policies)
ANSWER
Texas Standard Fire, Standard Fire, Business owner e.g.
Question 4.
You will find this phrase in insuring agreement e.g.
ANSWER
Other than declaration, where in broad form policy will you find phrase "collapse of building"?
E.g.
Question 5.
Known as Gap Coverage
ANSWER
In an umbrella policy there is a provision that allows for payment in case underlying policies
exclude coverage for even which is....
,Question 6.
Flood, workers comp, crop, costal wind among others
ANSWER
Types of casualty claims I will be unable to handle under license I'm studying for
Question 7.
Must have 30 hours
ANSWER
Upon receipt of License you're required to have how many hours of continuing education
before next renewal
Question 8.
At least 80% of replacement e.g.
ANSWER
In all risk TDP what % of actual replacement cost must be insured to actually have replacement
cost coverage? E.g.
Question 9.
Friendly fire--classified as
ANSWER
Fire that is intentionally set & remains within its intended boundaries is classified as
Question 10.
Dwelling Form 3 or equivalent e.g.
ANSWER
Policy a landlord purchase would provide best coverage on a rental property e.g.
Question 11.
Named insured, spouse if living in same household e.g.
ANSWER
Most exclusions in policy take away something then give it back by saying "does not apply to
you or any family member."..... Who is "you"?.... E.g.
, Question 12.
Multi Peril-Package
ANSWER
Any policy which provides property & liability coverage (not homeowner)
Question 13.
TX Dwelling Form 1
ANSWER
The dwelling policy sold in texas
Question 14.
Negotiation
ANSWER
When 2 or more parties talk out a solution to a dispute; mutually agreeable compromise; "act
of "talking it out"
Question 15.
Multi peril or package
ANSWER
Any policy that provides both property and liability coverage
Question 16.
Insured and covered persons
ANSWER
Medical payments coverage on auto policy provide medical benefits for injury to...
Question 17.
You have 91 days
ANSWER
In an umbrella policy there is a provision that
