Certified Claims Adjuster- Florida Exam
Questions & Answers(RATED A+)
Repair, replacement and recovery of injured lives and damaged property falls to? -
ANSWER-Insurance Adjusters, CAT Troopers, Field Investigators, Property Appraisers
and Front Line Supervisors
Insurance Transaction includes: - ANSWER--Solicitation of insurance
-Negotiations;
-Binding, underwriting and sale of insurance;
-Handling or "adjusting" of claims
The Role of Insurance is: - ANSWER-- Essential Product
-Financial Product
- Purchase of a Promise
-Purchase based on TRUST
The different types of insurance are: - ANSWER--Health
-Life
-Property
-Casualty
When you buy insurance, you are buying: - ANSWER-Peace of Mind
Insurance is a Purchase based on: - ANSWER-Trust
The most important factor in the purchase of insurance is: - ANSWER-Trust
,An assertion of an alleged legal right against a person, entity, company or insurer that
carries with it a demand for relief is: - ANSWER-Claim
Is the same as a request, demand, a letter requesting action, a bill submitted for
payment: - ANSWER-Assertion
Means that the claim may or may not be valid or legitimate, or that there may not be any
legal right for belief: - ANSWER-Alleged
Relief: - ANSWER-Compensation or payment. Can also mean:
-restitution
-return
-recovery
-replacement
Takes form in property or money
Third Party Claim: - ANSWER-A claim made by a third party against an "insured"
person or entity
First Party Claim: - ANSWER-A claim made by a policy holder against his/her own
insurance company for recovery under the policy (contract) for which a premium has
been paid
Carrier's Claim Handling Goal #1: - ANSWER-To help those who have been injured or
who have suffered loss for which the insured is responsible or which is covered by the
insurance contract
Carrier's Claim Handling Goal #2: - ANSWER-To minimize loss for the insured party
and the carrier. To fairly evaluate the legitimacy and legality of a claim and its value and
resolve satisfactory
Carrier's Claim Handling Goal #3: - ANSWER--To comply with the requirements of the
law or terms of the insurance contract
, -To pay claims fairly and adequately
Carrier's Claim Handling Goal #4: - ANSWER-To maintain friendly and satisfactory
relations between the injured party, the employer or policy holder, the insurance
company an the public
Carrier's Claim Handling Goal #5: - ANSWER-To satisfy the company's moral and
ethical obligation to the public and conduct business (claims) in a friendly, helpful
manner
An individual who, for compensation, fee or commission, investigates and settles claims
arising under property, casualty or surety contracts on behalf of the insurer or the
insured: - ANSWER-Adjuster
The process, or art, of investigating, evaluating, reporting on, negotiating and resolving
claims under a policy, or claims against your client, the insurance company or the
company for which you work or represent: - ANSWER-Adjusting
Types of Adjusters: - ANSWER--Staff Adjusters
-Independent Adjusters
- Public Adjusters
Work for Insurance Companies: - ANSWER-Staff Adjusters
Self Employed or employed by an independent adjusting firm: - ANSWER-Independent
Adjusters
Represents the insured, typically seen in the property lines of business: - ANSWER-
Public Adjusters
Can be inside adjusters, field adjusters or both: - ANSWER-Property Adjusters
Property Adjusters handle: - ANSWER--ONLY physical damage claims
Questions & Answers(RATED A+)
Repair, replacement and recovery of injured lives and damaged property falls to? -
ANSWER-Insurance Adjusters, CAT Troopers, Field Investigators, Property Appraisers
and Front Line Supervisors
Insurance Transaction includes: - ANSWER--Solicitation of insurance
-Negotiations;
-Binding, underwriting and sale of insurance;
-Handling or "adjusting" of claims
The Role of Insurance is: - ANSWER-- Essential Product
-Financial Product
- Purchase of a Promise
-Purchase based on TRUST
The different types of insurance are: - ANSWER--Health
-Life
-Property
-Casualty
When you buy insurance, you are buying: - ANSWER-Peace of Mind
Insurance is a Purchase based on: - ANSWER-Trust
The most important factor in the purchase of insurance is: - ANSWER-Trust
,An assertion of an alleged legal right against a person, entity, company or insurer that
carries with it a demand for relief is: - ANSWER-Claim
Is the same as a request, demand, a letter requesting action, a bill submitted for
payment: - ANSWER-Assertion
Means that the claim may or may not be valid or legitimate, or that there may not be any
legal right for belief: - ANSWER-Alleged
Relief: - ANSWER-Compensation or payment. Can also mean:
-restitution
-return
-recovery
-replacement
Takes form in property or money
Third Party Claim: - ANSWER-A claim made by a third party against an "insured"
person or entity
First Party Claim: - ANSWER-A claim made by a policy holder against his/her own
insurance company for recovery under the policy (contract) for which a premium has
been paid
Carrier's Claim Handling Goal #1: - ANSWER-To help those who have been injured or
who have suffered loss for which the insured is responsible or which is covered by the
insurance contract
Carrier's Claim Handling Goal #2: - ANSWER-To minimize loss for the insured party
and the carrier. To fairly evaluate the legitimacy and legality of a claim and its value and
resolve satisfactory
Carrier's Claim Handling Goal #3: - ANSWER--To comply with the requirements of the
law or terms of the insurance contract
, -To pay claims fairly and adequately
Carrier's Claim Handling Goal #4: - ANSWER-To maintain friendly and satisfactory
relations between the injured party, the employer or policy holder, the insurance
company an the public
Carrier's Claim Handling Goal #5: - ANSWER-To satisfy the company's moral and
ethical obligation to the public and conduct business (claims) in a friendly, helpful
manner
An individual who, for compensation, fee or commission, investigates and settles claims
arising under property, casualty or surety contracts on behalf of the insurer or the
insured: - ANSWER-Adjuster
The process, or art, of investigating, evaluating, reporting on, negotiating and resolving
claims under a policy, or claims against your client, the insurance company or the
company for which you work or represent: - ANSWER-Adjusting
Types of Adjusters: - ANSWER--Staff Adjusters
-Independent Adjusters
- Public Adjusters
Work for Insurance Companies: - ANSWER-Staff Adjusters
Self Employed or employed by an independent adjusting firm: - ANSWER-Independent
Adjusters
Represents the insured, typically seen in the property lines of business: - ANSWER-
Public Adjusters
Can be inside adjusters, field adjusters or both: - ANSWER-Property Adjusters
Property Adjusters handle: - ANSWER--ONLY physical damage claims
