Claims Adjuster Final (Multiple Choice Questions) 100% correct answers)

An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of correct answers The insured and insurer An insurer gives which of the following as Consideration for an insurance policy? correct answers A Promise The interest of the insured and all other persons in the property involved in a claim is found in correct answers A Proof of Loss An insured rear-ends another driver's vehicle. The auto policy that pays damages to repair the damaged vehicle is a _______? correct answers Liability Policy Your insurance company wrote an auto insurance binder for an owner who said that he did not have any prior accidents. Immediately thereafter it was discovered that he did not tell the truth. The company now wants to cancel the binder as quickly as possible. What is true? correct answers 5 days notice required For insurance to pay damages, an insurable interest must exist: correct answers When the loss takes place Texting while driving is best described as a: correct answers Hazard A covered loss is $90,000. Policy A has a limit of $100,000. Policy B has a limit of $200,000. Both policies are pro-rata policies. How much will policy B pay for this loss? correct answers $60,000 I sold my home yesterday, signed a deed and transferred title. Last night there was a house fire. I had not yet cancelled my homeowner's insurance. The purchaser also had a homeowner's policy. Which policy should pay to pay the claim? correct answers Purchaser's policy Giving prompt notice of loss is best described as a policy: correct answers Condition If there is a total loss by an insured peril to a FL building, the insurer must pay: correct answers Actual Cash Value A Loss Payable Clause refers to correct answers Lenders interest in personal property My coin collection was appraised and my insurance company specifically insured the valued of that collection. That is an example of: correct answers A Valued Policy An insurance contract is based on the Principle of: correct answers Utmost Good Faith