Public Adjuster Test
What is eligible to be a named insured under an insurance policy? correct
trus
answersA
t
The "concealment and fraud" provision of the 1943 New York Standard
Fire policy
permits the insurer to the policy if an insured conceals or
misrepresents a material fact before or after a loss. correct
answersVoid
Roof the entire
pitch refers policy
to: correct answersSlope Roof pitch tells how many
inches the roof rises for every 12 inches it runs. For example a 7" pitch
rises 7" for every 12" it runs
If the Value Reporting Form Endorsement is attached to a Commercial
policybusiness personal property is covered at all of the following
Property
locations,
correct EXCEPT:exhibition
answers,
locations
What is NOT a responsibility of the Insurance Commissioner in any given
state? correct the
answerssetting
rates
ACV is defined more recently as "replacement cost less a deduction that
reflects" age
condition but NOT correct answers, market
saturation
What coverage of an Equipment Breakdown policy pays for the costs
necessary to make temporary repairs to covered objects? correct
answersexpediting expenses
Personal property such as furniture, household goods, machinery, or
equipment
insured ownsthat
in the
his/her home or business is classified as: correct
property in
answerspersonal
use
Dina is a workers' compensation adjuster who is an employee of an
insurance
company. Dina is a: correct answerscompany or staff
adjuster
How are deductibles handled when two or more policies cover the same
loss? correct insured will pay all of the deductibles on all policies
answersThe
on the loss.
The "Sudden and Accidental Tearing Apart, Cracking, and Burning or
Bulging"
form perilbroad
applies to all of the following except: correct answersAny
structuraldwelling
covered wall of the
or other
structure.
It does not apply to structures or
walls.
,A non residential building in Iowa in a community that was admitted
to the NFIP Program would be provided
Emergency of coverage for the building
correct
answers$100,0
00
Which of the following Commercial Inland Marine coverage forms covers
payments
to the Insured
due from customers, when these payments cannot be collected
due to loss
damage or
of records? correct answersAccounts
Receivable form
Fred is an adjuster with Indemnify Insurance. He is authorized by the
companyor
insureds toclaimants
pay up to $75,000 on Homeowners claims and up to
$40,000
health on
insurance claims which is know as correct answersdraft
authority
The additional coverage for debris removal under the standardized
Building and
Personal Property coverage form will only be paid if correct answersthe
Insured
the reports
debris removal expenses to the insurance company in writing within 180
days of the
loss
.
All of the following actions must be taken before a claim is considered
"executed"
EXCEPT: correct answersWhen the Insurer has approved the adjuster's
final
A claim
report
settlement is considered to be " executed" when the
Insurer and the have signed the settlement documents and the claim has
insured/claimant
been
full atpaid
the agreed
in amount. The Insurer does not have to approve the
adjuster's
report finalthe claim is considered to be
before
executed.
All of the following statements regarding eligibility of self storage facilities
for a policy
BOP standard are true EXCEPT correct answersThe facility cannot exceed more
than 500 self-storage
individual
The BOP DOES NOT require a self storage unit to be limited to no more
units.
than 500 self-storage units to be eligible for coverage. All of the other
individual
answer
are eligibility
choices requirements of the BOP for coverage of self storage
facilities.
Under an Equipment Breakdown policy form that covers boilers and
machinery, to
considered what is loss event? correct answersthe initial breakdown
be one
that causes
other
breakdowns
A church has had the woodwork in the building refinished and new stain
and varnish
has been applied. The workers placed the rags and brushes that were used
to applyinthe
varnish a small closet and closed the door, creating the possibility of
spontaneous
combustion. What describes the condition? correct answershazard , Any
increases the possibility or severity of loss is a
condition that
hazard.
An Illinois public adjuster is prohibited from misrepresenting to a claimant
that
is anhe or she representing an insurance company in any capacity including
adjuster
employee
acting as an of the Insurer, or acting as an independent adjuster.. correct
answersunless
they have been appointed by an Insurer in writing to act on behalf of the
Insurer for that
specific
claim
, What is NOT a coverage extension on the Building and Personal Property
coverage
form? correct answersOutdoor property up to a maximum
of $500
A gas line explodes outside of Mindy's Mending ruining her new
landscaping
coverage extension
Which of Mindy's Commercial Property package would cover
the cost ofthe damaged trees and shrubs? correct answersOutdoor
replacing
property
Which of the following statements is TRUE regarding non waiver
agreements
letters? correct
of rights
answersThey are used only with first party claimants to
protect
of the and
Insureds rights
Insurers
Binders Keepers Insurance is canceling Karen's Illinois Homeowners policy for
a reasonTHAN non payment of premium. If Binders Keepers mails the
OTHER
cancellation
notice on April 7th, what is the date the policy will no longer be in
effect? correct
answersMay
7th
Which of the following statements regarding uncontrollable Commercial
Inland is
forms Marine
NOT TRUE: correct answersThe forms can be used as part of a
Package
Commercial
policy.
What is the main purpose of an adjuster's interim or status
response? correct
answersTo report on the ongoing status of the
claim
A condition in many insurance policies is known as "Transfer of Rights of
Against Others to Us" actually refers to: correct
Recovery
answersSubrogation
If a dwelling or commercial building has been without occupants for a
significant
of time butperiod
furniture still exists within the dwelling or building it is
considered: correct
answersUnoccupi
ed
Which of the following is not a common type of wiring used in residential
construction?
correct answerscopper
conduit
All of the following are prohibited from being included in an Illinois
public adjuster
contract EXCEPT: correct answersAttestation language stating that the
adjuster
bonded is fully
.
Charlie has her house covered by a DP-1 form with a $50,000 Coverage A
are
limit.endorsements
There attached for a deductible or any other coverage. When it
is damaged
by a fire, Charlie is provided how much coverage for "Additional Living
Expenses"?
correct
answers$0
Public Law 15 reserved which of the following insurance regulation
functions
federal for the
government? correct answersAnti trust matters and fair labor
standards
What is eligible to be a named insured under an insurance policy? correct
trus
answersA
t
The "concealment and fraud" provision of the 1943 New York Standard
Fire policy
permits the insurer to the policy if an insured conceals or
misrepresents a material fact before or after a loss. correct
answersVoid
Roof the entire
pitch refers policy
to: correct answersSlope Roof pitch tells how many
inches the roof rises for every 12 inches it runs. For example a 7" pitch
rises 7" for every 12" it runs
If the Value Reporting Form Endorsement is attached to a Commercial
policybusiness personal property is covered at all of the following
Property
locations,
correct EXCEPT:exhibition
answers,
locations
What is NOT a responsibility of the Insurance Commissioner in any given
state? correct the
answerssetting
rates
ACV is defined more recently as "replacement cost less a deduction that
reflects" age
condition but NOT correct answers, market
saturation
What coverage of an Equipment Breakdown policy pays for the costs
necessary to make temporary repairs to covered objects? correct
answersexpediting expenses
Personal property such as furniture, household goods, machinery, or
equipment
insured ownsthat
in the
his/her home or business is classified as: correct
property in
answerspersonal
use
Dina is a workers' compensation adjuster who is an employee of an
insurance
company. Dina is a: correct answerscompany or staff
adjuster
How are deductibles handled when two or more policies cover the same
loss? correct insured will pay all of the deductibles on all policies
answersThe
on the loss.
The "Sudden and Accidental Tearing Apart, Cracking, and Burning or
Bulging"
form perilbroad
applies to all of the following except: correct answersAny
structuraldwelling
covered wall of the
or other
structure.
It does not apply to structures or
walls.
,A non residential building in Iowa in a community that was admitted
to the NFIP Program would be provided
Emergency of coverage for the building
correct
answers$100,0
00
Which of the following Commercial Inland Marine coverage forms covers
payments
to the Insured
due from customers, when these payments cannot be collected
due to loss
damage or
of records? correct answersAccounts
Receivable form
Fred is an adjuster with Indemnify Insurance. He is authorized by the
companyor
insureds toclaimants
pay up to $75,000 on Homeowners claims and up to
$40,000
health on
insurance claims which is know as correct answersdraft
authority
The additional coverage for debris removal under the standardized
Building and
Personal Property coverage form will only be paid if correct answersthe
Insured
the reports
debris removal expenses to the insurance company in writing within 180
days of the
loss
.
All of the following actions must be taken before a claim is considered
"executed"
EXCEPT: correct answersWhen the Insurer has approved the adjuster's
final
A claim
report
settlement is considered to be " executed" when the
Insurer and the have signed the settlement documents and the claim has
insured/claimant
been
full atpaid
the agreed
in amount. The Insurer does not have to approve the
adjuster's
report finalthe claim is considered to be
before
executed.
All of the following statements regarding eligibility of self storage facilities
for a policy
BOP standard are true EXCEPT correct answersThe facility cannot exceed more
than 500 self-storage
individual
The BOP DOES NOT require a self storage unit to be limited to no more
units.
than 500 self-storage units to be eligible for coverage. All of the other
individual
answer
are eligibility
choices requirements of the BOP for coverage of self storage
facilities.
Under an Equipment Breakdown policy form that covers boilers and
machinery, to
considered what is loss event? correct answersthe initial breakdown
be one
that causes
other
breakdowns
A church has had the woodwork in the building refinished and new stain
and varnish
has been applied. The workers placed the rags and brushes that were used
to applyinthe
varnish a small closet and closed the door, creating the possibility of
spontaneous
combustion. What describes the condition? correct answershazard , Any
increases the possibility or severity of loss is a
condition that
hazard.
An Illinois public adjuster is prohibited from misrepresenting to a claimant
that
is anhe or she representing an insurance company in any capacity including
adjuster
employee
acting as an of the Insurer, or acting as an independent adjuster.. correct
answersunless
they have been appointed by an Insurer in writing to act on behalf of the
Insurer for that
specific
claim
, What is NOT a coverage extension on the Building and Personal Property
coverage
form? correct answersOutdoor property up to a maximum
of $500
A gas line explodes outside of Mindy's Mending ruining her new
landscaping
coverage extension
Which of Mindy's Commercial Property package would cover
the cost ofthe damaged trees and shrubs? correct answersOutdoor
replacing
property
Which of the following statements is TRUE regarding non waiver
agreements
letters? correct
of rights
answersThey are used only with first party claimants to
protect
of the and
Insureds rights
Insurers
Binders Keepers Insurance is canceling Karen's Illinois Homeowners policy for
a reasonTHAN non payment of premium. If Binders Keepers mails the
OTHER
cancellation
notice on April 7th, what is the date the policy will no longer be in
effect? correct
answersMay
7th
Which of the following statements regarding uncontrollable Commercial
Inland is
forms Marine
NOT TRUE: correct answersThe forms can be used as part of a
Package
Commercial
policy.
What is the main purpose of an adjuster's interim or status
response? correct
answersTo report on the ongoing status of the
claim
A condition in many insurance policies is known as "Transfer of Rights of
Against Others to Us" actually refers to: correct
Recovery
answersSubrogation
If a dwelling or commercial building has been without occupants for a
significant
of time butperiod
furniture still exists within the dwelling or building it is
considered: correct
answersUnoccupi
ed
Which of the following is not a common type of wiring used in residential
construction?
correct answerscopper
conduit
All of the following are prohibited from being included in an Illinois
public adjuster
contract EXCEPT: correct answersAttestation language stating that the
adjuster
bonded is fully
.
Charlie has her house covered by a DP-1 form with a $50,000 Coverage A
are
limit.endorsements
There attached for a deductible or any other coverage. When it
is damaged
by a fire, Charlie is provided how much coverage for "Additional Living
Expenses"?
correct
answers$0
Public Law 15 reserved which of the following insurance regulation
functions
federal for the
government? correct answersAnti trust matters and fair labor
standards
