Accredited Claims Adjuster (ACA) Designation Exam Part 1 | Complete
Study Guide with Practice Questions and Verified Answers
1. Declarations: The named insured is found in what part of an insurance policy?
a. Declarations
b. Insuring Agreement
c. Conditions
d. Exclusions
2. Adhesion: Contracts in which one part cannot negotiate the terms are said to be contracts of .
a. Bad Faith
b. Adhesion
c. Illegality
d. Mutuality
3. A Proof of Loss: The interest of the insured and all other persons in the property involved in a claim is found
in ;
a. A Proof of Loss
b. The Conditions
c. The Declarations
d. The Insuring Agreement
4. Liability: 4. A policy that pays damages to the insured is a policy?
a. Property
b. Liability
c. Property and Liability
d. Personal
5. 5 days notice: 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 quicкly as possible. What is required?
a. 30 days notice
b. 10 days notice
c. 7 days notice
d. 5 days notice
6. When the loss taкes place: For insurance to pay damages, an insurable interest must exist:
a. When the loss taкes place
b. When the claim is made
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Study Guide with Practice Questions and Verified Answers
1. Declarations: The named insured is found in what part of an insurance policy?
a. Declarations
b. Insuring Agreement
c. Conditions
d. Exclusions
2. Adhesion: Contracts in which one part cannot negotiate the terms are said to be contracts of .
a. Bad Faith
b. Adhesion
c. Illegality
d. Mutuality
3. A Proof of Loss: The interest of the insured and all other persons in the property involved in a claim is found
in ;
a. A Proof of Loss
b. The Conditions
c. The Declarations
d. The Insuring Agreement
4. Liability: 4. A policy that pays damages to the insured is a policy?
a. Property
b. Liability
c. Property and Liability
d. Personal
5. 5 days notice: 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 quicкly as possible. What is required?
a. 30 days notice
b. 10 days notice
c. 7 days notice
d. 5 days notice
6. When the loss taкes place: For insurance to pay damages, an insurable interest must exist:
a. When the loss taкes place
b. When the claim is made
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