Adjuster's License Test - Adjusting
Losses
A public adjuster Primarily represents the interests of: - answerThe insured named in
the policy
Adjusters employed by State Farm, Allstate, and Travelers would be considered what
type of adjusters - answer Company or Staff
The CT insurance Dept. regulates activities of PAs by setting fourth specific rules in
communicating settlement offers from the insurer of their clients. Accordingly, upon
receipt of an offer to settle a loss from the insurer, the PA must: - answerNotify the client
in writing of the offer within 10 days of receipt of the offer from the insurer
A claim filed by a policyholder against his/her own insurance company for recovery
under the policy is referred to as: - answerFirst Party Claim
When investigation a claim, an adjuster's primary duties include all of the following
EXCEPT: - answer1. Comparison
2. Verification
3. Inquiry
4. CONSIDERATION
All of the following are true regarding Independent Adjusters EXCEPT: - answer1.
Adjust losses on behalf of various insurance companies but they are not on the
company payroll
2. They are paid a fee to perform all or limited roles in the claim handling process
3. THE ADJUSTERS FEE IS NORMALLY A PERCENTAGE OF THE FINAL CLAIM
SETTLEMENT AMOUNT
4. They may be self-employed or employed by an independent private adjusting
company
Nicki is a company adjuster for Nutmeg Property and Casualty. She works within
Nutmeg's "Auto Liability unit" handling third-party, bodily injury and property damage
claims. As such, her responsibilities include all of the following except - answer1.
Investigating the facts of the loss including liability, Evaluate the damages owed,
2. NOTIFY INSURED'S OF NON-RENEWALS AND POLICY CANCELLATION,
3. Determine if coverage applies to a specific loss
Justin is a Property adjuster for XYZ Insurance company. He receives a claim involving
the theft loss of various types of property. Justin's initial responsibility for when
investigation the loss is to first determine: - answerIf Coverage exists
, Identify the type of report and adjuster produces that provides the initial results of an
investigation - answerFirst Field Report
Identify the type of report an adjuster produces at the conclusion of the claim containing
all of the facts, evidence and disposition of the claim: - answerFull Formal Report
An adjuster's responsibilities upon assignment of an auto accident claim include all of
the following EXCEPT to: - answerEvaluate damages, Investigate the accident, REPAIR
THE DAMAGED PROPERTY, Contact the insured and any third parties
Identify the name of the agreement that is signed by the insured, allowing for the
continuance of the loss adjustment process by the insurer without being construed as
an admission of liability/coverage by the insurer: - answerNon-Waiver agreement
A legal petition requesting the courts to define the legal relationship between the
policyholder and the insurer with respect to a coverage dispute is called a -
answerDeclaratory Judgment
In addition to dealing with coverage issues, adjusters use Reservations of Rights letters
in all of the situations EXCEPT: - answer1. When a policyholder fails to cooperate with
the adjuster,
2. When the adjuster is having difficulty in contacting or communicating with an insured,
3. WHEN THE ADJUSTER PURSUES SUBROGATION, when the insured fails to
report a claim in a timely manner
Once the decision is made to deny a first party claim the adjuster is responsible for all of
the following EXCEPT: - answer1. NOTIFY THE INSURANCE DEPARTMENT OF THE
DENIAL
2. Communicate the denial in writing to the insured
3. Provide the rationale used to support the denial, reference any state specific statues
4. Judgments or court decisions if applicable
All of the following are methods of resolving a dispute or conflict other than voluntary
settlement or proceeding to trial through a neutral third party EXCEPT: -
answerAppraisal, Mediation, REBATING, Arbitration
Identify the type of release used where, in exchange for an agreed amount, the claimant
relinquishes their right to bring further action: - answerFull Release
All of the following are true regarding the benefits of securing a witness statement
EXCEPT: - answer1. Determine the demeanor and creditability of the witness, should
the case proceed to a formal trial where they may be called to testify
2. To corroborate and record the details of the loss stated by a witness,
3. Limits the credibility of the witness should their testimony change at a later date,
Losses
A public adjuster Primarily represents the interests of: - answerThe insured named in
the policy
Adjusters employed by State Farm, Allstate, and Travelers would be considered what
type of adjusters - answer Company or Staff
The CT insurance Dept. regulates activities of PAs by setting fourth specific rules in
communicating settlement offers from the insurer of their clients. Accordingly, upon
receipt of an offer to settle a loss from the insurer, the PA must: - answerNotify the client
in writing of the offer within 10 days of receipt of the offer from the insurer
A claim filed by a policyholder against his/her own insurance company for recovery
under the policy is referred to as: - answerFirst Party Claim
When investigation a claim, an adjuster's primary duties include all of the following
EXCEPT: - answer1. Comparison
2. Verification
3. Inquiry
4. CONSIDERATION
All of the following are true regarding Independent Adjusters EXCEPT: - answer1.
Adjust losses on behalf of various insurance companies but they are not on the
company payroll
2. They are paid a fee to perform all or limited roles in the claim handling process
3. THE ADJUSTERS FEE IS NORMALLY A PERCENTAGE OF THE FINAL CLAIM
SETTLEMENT AMOUNT
4. They may be self-employed or employed by an independent private adjusting
company
Nicki is a company adjuster for Nutmeg Property and Casualty. She works within
Nutmeg's "Auto Liability unit" handling third-party, bodily injury and property damage
claims. As such, her responsibilities include all of the following except - answer1.
Investigating the facts of the loss including liability, Evaluate the damages owed,
2. NOTIFY INSURED'S OF NON-RENEWALS AND POLICY CANCELLATION,
3. Determine if coverage applies to a specific loss
Justin is a Property adjuster for XYZ Insurance company. He receives a claim involving
the theft loss of various types of property. Justin's initial responsibility for when
investigation the loss is to first determine: - answerIf Coverage exists
, Identify the type of report and adjuster produces that provides the initial results of an
investigation - answerFirst Field Report
Identify the type of report an adjuster produces at the conclusion of the claim containing
all of the facts, evidence and disposition of the claim: - answerFull Formal Report
An adjuster's responsibilities upon assignment of an auto accident claim include all of
the following EXCEPT to: - answerEvaluate damages, Investigate the accident, REPAIR
THE DAMAGED PROPERTY, Contact the insured and any third parties
Identify the name of the agreement that is signed by the insured, allowing for the
continuance of the loss adjustment process by the insurer without being construed as
an admission of liability/coverage by the insurer: - answerNon-Waiver agreement
A legal petition requesting the courts to define the legal relationship between the
policyholder and the insurer with respect to a coverage dispute is called a -
answerDeclaratory Judgment
In addition to dealing with coverage issues, adjusters use Reservations of Rights letters
in all of the situations EXCEPT: - answer1. When a policyholder fails to cooperate with
the adjuster,
2. When the adjuster is having difficulty in contacting or communicating with an insured,
3. WHEN THE ADJUSTER PURSUES SUBROGATION, when the insured fails to
report a claim in a timely manner
Once the decision is made to deny a first party claim the adjuster is responsible for all of
the following EXCEPT: - answer1. NOTIFY THE INSURANCE DEPARTMENT OF THE
DENIAL
2. Communicate the denial in writing to the insured
3. Provide the rationale used to support the denial, reference any state specific statues
4. Judgments or court decisions if applicable
All of the following are methods of resolving a dispute or conflict other than voluntary
settlement or proceeding to trial through a neutral third party EXCEPT: -
answerAppraisal, Mediation, REBATING, Arbitration
Identify the type of release used where, in exchange for an agreed amount, the claimant
relinquishes their right to bring further action: - answerFull Release
All of the following are true regarding the benefits of securing a witness statement
EXCEPT: - answer1. Determine the demeanor and creditability of the witness, should
the case proceed to a formal trial where they may be called to testify
2. To corroborate and record the details of the loss stated by a witness,
3. Limits the credibility of the witness should their testimony change at a later date,
