Public Adjuster Exam Question #3
Q&A
Which of the following is covered by a building and personal property coverage form?
Patio
Light pole
Bridge
Dock - =Light pole
What steps need to be taken to terminate a licensee's license that is in the possession of the
employer?
The employer must return the license to the licensee, who then must return the license to the
insurance commissioner
The licensee must give written notice to the employer who then sends the license to the insurance
commissioner
The license cannot be terminated prior to the expiration date, it becomes inactive
The licensee needs to give written notice of intent to the insurance commissioner - =The licensee
needs to give written notice of intent to the insurance commissioner
What will happen when an agent's appointment to an insurance company is terminated and the
agent has no other appointments with any other insurance company?
The agent's permanent license becomes inactive
The agent's permanent license remains fully active until expiration
The agent's permanent license remains in force for only 60 more days unless the agent becomes
reappointed or receives a new appointment letter from another insurer
, The agent's permanent license will be terminated simultaneously - =The agent's permanent
license becomes inactive
How long can you leave your license on inactive status?
1 year
2 years
3 years
Indefinitely - =Indefinitely
What gives an insured the right to seek compensation if it is proven that another person with
negligence contributed to the injury?
Statutory code
Tort law
Criminal code
Case law - =Tort law
Surplus lines brokers
Are always employees of insurance companies
Transact business only with admitted insurers
Specialize in marine insurance
Transact business only with non-admitted insurers - =Transact business only with non-admitted
insurers
Which of the following is an insurer's option when making a settlement with the insured under a
personal auto policy?
Return stolen property to the address shown in the policy
Q&A
Which of the following is covered by a building and personal property coverage form?
Patio
Light pole
Bridge
Dock - =Light pole
What steps need to be taken to terminate a licensee's license that is in the possession of the
employer?
The employer must return the license to the licensee, who then must return the license to the
insurance commissioner
The licensee must give written notice to the employer who then sends the license to the insurance
commissioner
The license cannot be terminated prior to the expiration date, it becomes inactive
The licensee needs to give written notice of intent to the insurance commissioner - =The licensee
needs to give written notice of intent to the insurance commissioner
What will happen when an agent's appointment to an insurance company is terminated and the
agent has no other appointments with any other insurance company?
The agent's permanent license becomes inactive
The agent's permanent license remains fully active until expiration
The agent's permanent license remains in force for only 60 more days unless the agent becomes
reappointed or receives a new appointment letter from another insurer
, The agent's permanent license will be terminated simultaneously - =The agent's permanent
license becomes inactive
How long can you leave your license on inactive status?
1 year
2 years
3 years
Indefinitely - =Indefinitely
What gives an insured the right to seek compensation if it is proven that another person with
negligence contributed to the injury?
Statutory code
Tort law
Criminal code
Case law - =Tort law
Surplus lines brokers
Are always employees of insurance companies
Transact business only with admitted insurers
Specialize in marine insurance
Transact business only with non-admitted insurers - =Transact business only with non-admitted
insurers
Which of the following is an insurer's option when making a settlement with the insured under a
personal auto policy?
Return stolen property to the address shown in the policy
