WV Adjuster Test
What is the definition of a public adjuster? - (ANSWERS)An adjuster who works!@#$%%%%%
for the insured
%%%%%%
If an insurance company is fined (max $1000) by commissioner, how many days do they have
to pay or appeal the fine? - (ANSWERS)30 Days
Subrogation occurs when? - (ANSWERS)The insurer steps into the position of the insured and
may collect from the responsible party for damages
What is the purpose of excess insurance? - (ANSWERS)To provide additional liability coverage
above and beyond that which is provided by the primary policy
How is the value of personal property determined when using ACV? - (ANSWERS)Replacement
cost less depreciation
How long does an insurance company have to furnish the insurance commissioner with a
complete written response to an inquiry other than a notice of 3rd party administrative
complaints? - (ANSWERS)15 days
Which of the following options correctly states the effect of wvs modified comparative
negligence law in a situation in which each is equally liable (each party of 50% liable) -
(ANSWERS)Neither party collects from the other
Driver B loses control of his vehicle and strikes Driver A. Under what theory does Driver A collect
damages from Driver B? - (ANSWERS)Legal Liability
There are 3 home owners policies in effect, which all apply to a single loss. The policies provide
the following amounts of coverage.
Company A 50,000
Company B 40,000
Company C 10,000
The insured suffered a $10,000 loss to his home. What amount will Company C pay? -
(ANSWERS)$1,000
How long does an insurance company have to give a 3rd party claimant, who is not an attorney,
nor represented by an attorney, written notice that the claimants rights may be affected by a
statue of limitations or a policy or contract time limit? - (ANSWERS)60 Days
An insured has his vehicle stolen. When recovered there was $2,000 damage, due to collision
and $450 in stolen hubcaps. There is a $200 collision deductible and a $100 comprehensive
deductible. What is the maximum amount the insured will pay? - (ANSWERS)Add up all the
damages and then subtract the comprehensive deductible.
, WV Adjuster Test
!@#$%%%%%
What is the purpose of wvs guaranty association? - (ANSWERS)To pay claims when the insurer
has become insolvent %%%%%%
In a homeowners policy, what coverages are included in Section 1 & 2? - (ANSWERS)Dwelling
& Personal Property, and BI Liability & Medical Payments
What is the purpose of wvs Essential Insurance Act "Fair Plan"? - (ANSWERS)To provide
homeowners and business owners, who would not otherwise be able to get insurance from the
normal insurance marketplace, the ability to obtain insurance
What is the law regarding as it relates to the insureds liability? - (ANSWERS)It is forbidden to
exclude liability coverage for the guest passenger, under any circumstances
How much time does an insurer have to inspect? - (ANSWERS)7 days
Under the fire prevention act, what must an adjuster do whenever arson is suspected? -
(ANSWERS)Notify the state fire marshall
What does an adjuster do when a state fire marshall requests information? -
(ANSWERS)Provide the fire marshall with all the information you have
How long does an insurance company have to provide to every first party claimant, or to the
claimants authorized representative notification of all items, statements, forms, if any which
the insurer reasonably believes will be required of such claimant? - (ANSWERS)15 days
A business owners policy is obtained in the amount of $100,000. 10 day later there is a total
loss. Replacement cost value is $125,000, ACV is $90,000. What amount does the insurer pay?
- (ANSWERS)$100,000
There's a building and property policy with a "special cause of loss" form. Which of the following
is covered? - (ANSWERS)Drain back up
Which of the following is not covered under a water craft policy? - (ANSWERS)Jewlery that is on
the boat
Who does not need to be licensed in WV? - (ANSWERS)Adminisitrative support person who
performs clerical duties.
How long does an insurance company have to notify the claimant in writing if more than 30
calendar days from the date that a proof of loss from a first party claimant or notice of claim
from a third party claimant is received are needed to determine whether a claim should be
accepted or denied, setting forth the reasons additional time is needed? - (ANSWERS)45 days
(W/in 15 working day after the 30 day period expires.
What is the definition of a public adjuster? - (ANSWERS)An adjuster who works!@#$%%%%%
for the insured
%%%%%%
If an insurance company is fined (max $1000) by commissioner, how many days do they have
to pay or appeal the fine? - (ANSWERS)30 Days
Subrogation occurs when? - (ANSWERS)The insurer steps into the position of the insured and
may collect from the responsible party for damages
What is the purpose of excess insurance? - (ANSWERS)To provide additional liability coverage
above and beyond that which is provided by the primary policy
How is the value of personal property determined when using ACV? - (ANSWERS)Replacement
cost less depreciation
How long does an insurance company have to furnish the insurance commissioner with a
complete written response to an inquiry other than a notice of 3rd party administrative
complaints? - (ANSWERS)15 days
Which of the following options correctly states the effect of wvs modified comparative
negligence law in a situation in which each is equally liable (each party of 50% liable) -
(ANSWERS)Neither party collects from the other
Driver B loses control of his vehicle and strikes Driver A. Under what theory does Driver A collect
damages from Driver B? - (ANSWERS)Legal Liability
There are 3 home owners policies in effect, which all apply to a single loss. The policies provide
the following amounts of coverage.
Company A 50,000
Company B 40,000
Company C 10,000
The insured suffered a $10,000 loss to his home. What amount will Company C pay? -
(ANSWERS)$1,000
How long does an insurance company have to give a 3rd party claimant, who is not an attorney,
nor represented by an attorney, written notice that the claimants rights may be affected by a
statue of limitations or a policy or contract time limit? - (ANSWERS)60 Days
An insured has his vehicle stolen. When recovered there was $2,000 damage, due to collision
and $450 in stolen hubcaps. There is a $200 collision deductible and a $100 comprehensive
deductible. What is the maximum amount the insured will pay? - (ANSWERS)Add up all the
damages and then subtract the comprehensive deductible.
, WV Adjuster Test
!@#$%%%%%
What is the purpose of wvs guaranty association? - (ANSWERS)To pay claims when the insurer
has become insolvent %%%%%%
In a homeowners policy, what coverages are included in Section 1 & 2? - (ANSWERS)Dwelling
& Personal Property, and BI Liability & Medical Payments
What is the purpose of wvs Essential Insurance Act "Fair Plan"? - (ANSWERS)To provide
homeowners and business owners, who would not otherwise be able to get insurance from the
normal insurance marketplace, the ability to obtain insurance
What is the law regarding as it relates to the insureds liability? - (ANSWERS)It is forbidden to
exclude liability coverage for the guest passenger, under any circumstances
How much time does an insurer have to inspect? - (ANSWERS)7 days
Under the fire prevention act, what must an adjuster do whenever arson is suspected? -
(ANSWERS)Notify the state fire marshall
What does an adjuster do when a state fire marshall requests information? -
(ANSWERS)Provide the fire marshall with all the information you have
How long does an insurance company have to provide to every first party claimant, or to the
claimants authorized representative notification of all items, statements, forms, if any which
the insurer reasonably believes will be required of such claimant? - (ANSWERS)15 days
A business owners policy is obtained in the amount of $100,000. 10 day later there is a total
loss. Replacement cost value is $125,000, ACV is $90,000. What amount does the insurer pay?
- (ANSWERS)$100,000
There's a building and property policy with a "special cause of loss" form. Which of the following
is covered? - (ANSWERS)Drain back up
Which of the following is not covered under a water craft policy? - (ANSWERS)Jewlery that is on
the boat
Who does not need to be licensed in WV? - (ANSWERS)Adminisitrative support person who
performs clerical duties.
How long does an insurance company have to notify the claimant in writing if more than 30
calendar days from the date that a proof of loss from a first party claimant or notice of claim
from a third party claimant is received are needed to determine whether a claim should be
accepted or denied, setting forth the reasons additional time is needed? - (ANSWERS)45 days
(W/in 15 working day after the 30 day period expires.
