Texas All Lines Adjuster Quiz Questions and 100% Correct Answers

In order to become a licensed Insurance Adjuster in the state of TX, an individual must be_______________ yrs old. - 18 The Texas All Lines Adjuster License can only be held by residents of TX? T or F - False List type of Insurance Adjuster Licenses available in Texas: - 1. All Lines 2. Work Comp 3. Surety 4. Casualty & Property 5. Public Adjuster The TX All Lines Insurance Adjuster License is valid for 2 yrs, and subject to Continue Ed requirements set forth by TDI. T or F - True The All Lines License can be renewed within ____________ days of its expiration. - 90 days If you are audited by TDI and they find that you haven't completed the necessary CE hours to maintain your license, they can fine you __________ per uncompleted hour. - $50 Section 542.057 in the Tx Insurance Code was designed to ___________________________. - Insure prompt payment of claims Section 542.059 in the Tx Insurance code allows _________________________ to be expempt. - Catastrophe Within the first 15 calendar days of receiving the claim you must: - 1. Ack receipt of claim in writing. 2. Investigate 3. Request additional information from clmt. Once the insurance company receives the requested items they have 15 business days to: - 1. Except or deny claim 2. Request more time for arsin or engineering How many do you have after your license expires to renew it? - 90 days When does your license expire? - 2 years on your birthday How many business days do you have for arsin? - 30 business days How many business days do you have for engineering? - 45 business days Penalties for insurer's who delay paying claims beyond ___________ days unless delay is authorized by TX law. - 60 days How many days does the insurer have to send a check once they agree to pay the claim? - 5 business days The deceptive trade practices act prevents insurers from refusing a policy renewal based on? - 1. Age 2. Sex 3. Religion A carrier can refuse renewal of a policy due to _________ non weather related claims in ______________ years or less. - 3 & 3 Home Owners - A provides coverage A (structure) and Coverage B (personal property contents) on a ________________________. - Names Peril Home owners - B provides coverage A (structure) for ___________________, unless specifically excluded and coverage B (personal property contents) on a names peril basis. - All risk Coverage A (dwelling) has a _____________ % of coverage A limit of liability for other structure. - 10% Coverage B (Personal Property Contents) provides: - 1. Coverage of property anywhere in the world 2. Special limits on certain property, ie theft Special Limist of Liability: 1. Cash is limited to _____________. 2. Jewelry theft loss limited to __________________. - 1. $500; if you have over $500 that is stolen, you still only get $500. 2. $1000 max for 1 article stolen / $2500 max for more than 1 article stolen. Coverage C protects against _______________________. - Personal Liability Coverage D protects against __________________________. - Medical payment to others