Texas all lines Adjuster License Exam Latest Updated

temporary insurance license is valid for how many days - ANSWER-90 when completing continueing education hours an adjuster must have atleast 2 hours of the following topics? - ANSWER-consumer protection and adjuster ethics an agent licensed in Texas who moves from another state must file proof of authorization to conduct business in the new state within how many days? - ANSWER-30 The insurance commissioner has the power to? - ANSWER-Issue certificate of authority to insures How many hours of continuing education is an adjuster responsible to complete in any 2 year license period? - ANSWER-24 Types of adjuster license in Texas - ANSWER-All lines, surety, property A person who wishes to obtain an adjusters license must be how old to do so? - ANSWER-18 following the date of issue an adjuster license expires in how many years - ANSWER-2 What type of bond is used to guarantee the schedule, workmanship, and completion of the contract of the penalties and corrective strategy laid our in the contract? - ANSWER-Performance bond Name Schedule Bond - ANSWER-These bonds cover each employee on the policy scheduled for the amount listed on the schedule Types of contract bonds - ANSWER-Maintenance bond, supply bond, subdivision bond appeal bond usually carry what collateral requirement - ANSWER-100% Fund transfer bond - ANSWER-Losses resulting from fraudulent instructions received by a financial institution to pay money from the insureds transfer account to someone else Adjuster bond - ANSWER-A PENAL BOND FOR A SPECIFIC AMOUNT CONDITIONED FOR THE FAITHFUL AND HONEST CONDUCT OF BUSINESS BY THE LICENSED ADJUSTER. Robbery - ANSWER-the unlawful taking of property from a person's immediate possession by force or intimidation Fidelity Bond - ANSWER-a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals embezzlement - ANSWER-The fraudulent act that involves the unlawful appropriation of property or money by someone who has been entrusted with the property Who is the party guaranteeing the performance by the principal? - ANSWER-The surety/ Guarantor 2 types of bonds - ANSWER-fidelity and surety miscellaneous bond - ANSWER-a bond that is not to a government agency regarding a license or permit but has similar language is referred to as a miscellaneous bond. Motor truck cargo policy - ANSWER-motor truck cargo coverage is also referred to as carriers liability this form covers the interests of the owner of commercial cameras musical instruments and related equipment and similar property of others that is in the insured care? - ANSWER-commercial articles FIXED TRANSPORTATION - ANSWER-The inland marine policy that provides coverage for bridges tunnels and other instrumentals of transportation and communication Personal Effects Floater - ANSWER-this floater provides protection for an insureds personal property away from the residences. This type of inland marine policy insures the foods in transit and remains in force until canceled by the parties involved. - ANSWER-Open Cargo policy This inland marine floater provides all risk coverage on personal items such as furs, silverware, jewelry, and camera? - ANSWER-Personal effects floater Newly acquired jewelry watches furs cameras and similar items are automatically covered for how many days? - ANSWER-30 days at actual cash value up to 10k or 25% of policy This type of inland marine policy provides protects the shipper or receiver of goods against loss to goods in transit. - ANSWER-Annual transit policy