INSURANCE ADJUSTER EXAM WITH
100% VERIFIED ANSWERS
Which ntkind ntof ntlosses ntare ntcovered ntunder nta ntstandard ntfire ntpolicy? nt- ntANS--
Direct
All ntfires ntare ntnot ntcovered ntby ntthe ntStandard ntFire ntpolicies, ntonly ntthose ntthat: nt-
ntANS--are nthostile ntand nthave nta ntflame ntor ntglow
At ntwhat nttime ntdoes nta ntfire ntpolicy ntgo ntinto ntaffect? nt- ntANS--12:01am ntstandard
nttime ntat ntthe ntlocation ntof ntthe ntinsured's ntproperty
A ntproperty ntis ntinsured ntunder nttwo ntStandard ntFire ntpolicies ntfor nt$25,000 nteach. ntA
ntfire ntcauses nt$10,000 ntworth ntof ntdamage. ntWhat ntis ntthe ntmaximum ntamount ntthe
ntinsured ntmay ntcollect ntunder nteach ntpolicy? nt- ntANS--$5,000
A ntfire ntburning ntin ntthe ntmiddle ntof ntthe ntliving ntroom ntwould ntbe ntconsidered: nt-
ntANS--a nthostile ntfire
An ntinsured's nthouse ntis ntdamaged ntby ntfire ntcaused ntby nta ntneighbor's ntnegligence.
ntThe ntinsurance ntcompany ntwill ntattempt ntto ntrecover ntdamage ntfrom ntthe ntneighbor.
ntThis ntis ntcalled: nt- ntANS--subrogation
Which ntof ntthe ntfollowing ntstatements ntare nttrue ntconcerning ntrequirements ntof ntthe
ntstandard ntfire ntpolicy? nt- ntANS--The ntinsured ntmust ntseparate ntdamaged ntfrom
ntundamaged ntproperty ntin ntthe ntevent ntthere ntis nta ntloss ntAND ntIf nta ntloss ntoccurs,
ntthe ntinsured ntnormally nthas nt60 ntdays ntto ntfile nta ntproof ntof ntloss ntwith ntthe ntinsurer
Which nttypes ntof ntproperty ntare ntexcluded ntfrom ntcoverage ntunder ntthe ntbasic ntfire
ntpolicy? nt- ntANS--accounts, ntcurrency, ntdeeds, ntand ntsecurities
Who ntis ntinsured ntunder ntthe ntStandard ntFire ntpolicy? nt- ntANS--the ntnamed ntinsured
ntand nthis ntlegal ntrepresentatives
An ntagreement ntwhich ntaffords nttemporary ntinsurance ntprotection ntuntil ntthe ntpolicy ntis
ntissued ntis ntcalled: nt- ntANS--a ntbinder
as nta ntgeneral ntrule, nta ntcomplete ntfire ntinsurance ntpolicy ntwould ntbe ntmade ntup ntof: nt-
ntANS--the ntStandard ntFire ntpolicy ntwith ntone ntor ntmore ntforms ntattached
The ntone ntcondition ntlisted ntbelow ntwhich ntwill ntnot ntvoid nta ntfire ntpolicy: nt
a) ntfalse ntswearing
,b) ntmisrepresentation
c) ntover-insurance
d) ntconcealment nt- ntANS--over-insurance
replacement ntcost ntminus ntdepreciation: nt- ntANS--Actual ntCash ntValue nt(ACV)
The ntStandard ntFire ntpolicy ntwith ntan ntextended ntcoverage ntendorsement ntattached
ntcovers ntwhich ntof ntthe ntfollowing: nt- ntANS--riot
A ntloss ntdue ntto ntorder ntof ntCivil ntAuthority: nt- ntANS--is ntexcluded ntunless ntthe ntloss
ntoccurs ntbecause ntof ntan ntorder ntby ntCivil ntAuthorities ntfor ntthe ntpurpose ntof
ntcontrolling nta ntfire
The ntterm nt"unoccupancy" ntrefers ntto ntthe ntabsence ntof nt: nt- ntANS--persons ntfrom nta
ntbuilding
Suppose nta ntfire ntoccurs nton ntFebruary nt26th. ntOn ntApril nt30th, ntthe ntinsurance
ntcompany ntnotifies ntthe ntmortgagee ntthe ntinsured nthas ntnot ntfiled nta ntproof ntof ntloss.
ntTo ntprotect nttheir ntinterest, ntthe ntmortgagee ntmust ntfile nta ntproof ntof ntloss ntwithin
nt_________ ntdays ntafter ntwhat ntdate? nt- ntANS--60 ntdays ntafter ntApril nt30th
For ntrecovery ntunder ntthe ntStandard ntFire ntpolicy, nta ntparty ntmust: nt- ntANS--be
ntnamed ntin ntthe ntpolicy ntand ntshow ntan ntinsurable ntinterest ntin ntthe ntproperty ntat ntthe
nttime ntthe ntloss ntoccurs
What ntis ntthe ntrequirement nton nthow ntmuch ntexperience ntone ntmust nthave ntto ntbe
ntelected ntthe ntinsurance ntcommissioner ntin ntGeorgia? nt- ntANS--None
Once ntelected, nthow ntlong ntis ntthe ntinsurance ntcommissioner's ntterm? nt- ntANS--4
ntyears
Is ntthere nta ntlimit nton ntthe ntnumber ntof ntterms ntan ntinsurance ntcommissioner ntcan
ntserve? nt- ntANS--No
Who ntis ntGeorgia's ntcurrent ntinsurance ntcommissioner? nt- ntANS--Ralph ntHudgens
What nttwo ntcapacities ntdoes ntGeorgia's ntinsurance ntcommissioner ntserve? nt- ntANS--1.
ntChief ntOfficer ntof ntInsurance ntDept.
2. ntChief ntFire ntMarshall
What nthappens ntif ntthe ntInsurance ntCommissioner nthas ntto ntresign ntearly? nt- ntANS--
No ntelection; ntthe ntChief ntDeputy ntwill nttake ntover
What ntis ntthe ntrequirement ntto ntserve ntas ntChief ntDeputy ntin ntGeorgia? nt- ntANS--must
nthave nta ntbond ntin ntthe ntamount ntof nt$15,000
, If ntyou ntare nta ntdomestic ntinsurer ntin ntGeorgia, nthow ntoften ntdoes ntcode ntsay ntyour
ntfinancials ntmust ntbe ntexamined? nt- ntANS--once ntevery nt5 ntyears
Only ntone ntcourt ntin ntGeorgia nthas ntthe ntright ntto ntoverturn ntthe ntdecision ntof ntthe
ntInsurance ntCommissioner. ntWhich ntis ntit? nt- ntANS--Superior ntCourt ntof ntFulton
ntCounty
What ntcertificate ntis ntrequired ntfor nta ntcompany ntto ntbe ntan ntauthorized ntinsurer ntin
ntGeorgia? nt- ntANS--Certificate ntof ntAuthority
Surplus ntLines ntRisk nt- ntANS--has ntbeen ntrejected ntby nt3 ntauthorized ntinsurers
What ntis ntthe ntprimary ntreason ntthe ntstate ntof ntGeorgia ntwould ntrevoke ntan ntinsurance
ntcompany's ntcertificate ntto ntauthorize? nt- ntANS--if ntthey're ntunder ntfinancial ntdistress
What ntare ntthe ntrequirements ntto ntbe nta ntlicensed ntproducer ntin ntGeorgia? nt- ntANS--
must ntbe ntat ntleast nt18 ntyears ntold, nttake nta nt40 nthour ntcourse, ntpass ntlicensing
ntexam, ntapply ntfor ntlicense, ntpass ntbackground ntcheck
Which ntof ntthe ntfollowing ntwould ntbe ntconsidered ntan nt"offer"? nt- ntANS--the ntapplicant
ntsubmits ntan ntapplication ntto ntthe ntcompany ntwith ntpayment
All ntof ntthe ntfollowing ntare nttrue ntabout ntinsurable ntrisk ntexcept:
a) ntthe ntloss ntmust ntnot ntbe ntcatastrophic ntin ntnature
b) ntthe ntloss ntmust ntbe ntlarge ntenough ntto ntcreate nthardship
c) ntthe ntloss ntmust ntnot ntbe ntdefinite ntand ntdefinable
d) ntthe ntlaw ntof ntlarge ntnumbers ntshould ntapply nt- ntANS--c) ntthe ntloss ntmust ntnot ntbe
ntdefinite ntand ntdefinable
all ntof ntthe ntfollowing ntare ntparts ntof ntthe ntinsurance ntcontract ntexcept: nt
a) ntdeclarations
b) ntinsuring ntagreements
c) ntconditions
d) ntinclusions nt- ntANS--d) ntinclusions
something ntthat ntincreases ntthe ntchance ntof nta ntperil ntoccurring ntis ntknown ntas nta(n):
nt- ntANS--hazard
open ntperil, ntor nt"all ntrisk", ntforms: nt- ntANS--name ntthe ntexclusions ntand ntlimitations
When nta ntperson ntdecides ntnot ntto ntbuy ntinsurance ntbecause ntof ntthe ntcost, ntwhat
ntmethod ntof nthandling ntrisk nthas ntbeen ntundertaken? nt- ntANS--risk ntretention
the ntinsurance ntindustry ntdeals ntwith ntthose ntareas ntof ntrisk ntwhere ntthe ntchances ntof
ntloss ntare: nt- ntANS--anywhere ntbetween nt0% ntand nt100%
100% VERIFIED ANSWERS
Which ntkind ntof ntlosses ntare ntcovered ntunder nta ntstandard ntfire ntpolicy? nt- ntANS--
Direct
All ntfires ntare ntnot ntcovered ntby ntthe ntStandard ntFire ntpolicies, ntonly ntthose ntthat: nt-
ntANS--are nthostile ntand nthave nta ntflame ntor ntglow
At ntwhat nttime ntdoes nta ntfire ntpolicy ntgo ntinto ntaffect? nt- ntANS--12:01am ntstandard
nttime ntat ntthe ntlocation ntof ntthe ntinsured's ntproperty
A ntproperty ntis ntinsured ntunder nttwo ntStandard ntFire ntpolicies ntfor nt$25,000 nteach. ntA
ntfire ntcauses nt$10,000 ntworth ntof ntdamage. ntWhat ntis ntthe ntmaximum ntamount ntthe
ntinsured ntmay ntcollect ntunder nteach ntpolicy? nt- ntANS--$5,000
A ntfire ntburning ntin ntthe ntmiddle ntof ntthe ntliving ntroom ntwould ntbe ntconsidered: nt-
ntANS--a nthostile ntfire
An ntinsured's nthouse ntis ntdamaged ntby ntfire ntcaused ntby nta ntneighbor's ntnegligence.
ntThe ntinsurance ntcompany ntwill ntattempt ntto ntrecover ntdamage ntfrom ntthe ntneighbor.
ntThis ntis ntcalled: nt- ntANS--subrogation
Which ntof ntthe ntfollowing ntstatements ntare nttrue ntconcerning ntrequirements ntof ntthe
ntstandard ntfire ntpolicy? nt- ntANS--The ntinsured ntmust ntseparate ntdamaged ntfrom
ntundamaged ntproperty ntin ntthe ntevent ntthere ntis nta ntloss ntAND ntIf nta ntloss ntoccurs,
ntthe ntinsured ntnormally nthas nt60 ntdays ntto ntfile nta ntproof ntof ntloss ntwith ntthe ntinsurer
Which nttypes ntof ntproperty ntare ntexcluded ntfrom ntcoverage ntunder ntthe ntbasic ntfire
ntpolicy? nt- ntANS--accounts, ntcurrency, ntdeeds, ntand ntsecurities
Who ntis ntinsured ntunder ntthe ntStandard ntFire ntpolicy? nt- ntANS--the ntnamed ntinsured
ntand nthis ntlegal ntrepresentatives
An ntagreement ntwhich ntaffords nttemporary ntinsurance ntprotection ntuntil ntthe ntpolicy ntis
ntissued ntis ntcalled: nt- ntANS--a ntbinder
as nta ntgeneral ntrule, nta ntcomplete ntfire ntinsurance ntpolicy ntwould ntbe ntmade ntup ntof: nt-
ntANS--the ntStandard ntFire ntpolicy ntwith ntone ntor ntmore ntforms ntattached
The ntone ntcondition ntlisted ntbelow ntwhich ntwill ntnot ntvoid nta ntfire ntpolicy: nt
a) ntfalse ntswearing
,b) ntmisrepresentation
c) ntover-insurance
d) ntconcealment nt- ntANS--over-insurance
replacement ntcost ntminus ntdepreciation: nt- ntANS--Actual ntCash ntValue nt(ACV)
The ntStandard ntFire ntpolicy ntwith ntan ntextended ntcoverage ntendorsement ntattached
ntcovers ntwhich ntof ntthe ntfollowing: nt- ntANS--riot
A ntloss ntdue ntto ntorder ntof ntCivil ntAuthority: nt- ntANS--is ntexcluded ntunless ntthe ntloss
ntoccurs ntbecause ntof ntan ntorder ntby ntCivil ntAuthorities ntfor ntthe ntpurpose ntof
ntcontrolling nta ntfire
The ntterm nt"unoccupancy" ntrefers ntto ntthe ntabsence ntof nt: nt- ntANS--persons ntfrom nta
ntbuilding
Suppose nta ntfire ntoccurs nton ntFebruary nt26th. ntOn ntApril nt30th, ntthe ntinsurance
ntcompany ntnotifies ntthe ntmortgagee ntthe ntinsured nthas ntnot ntfiled nta ntproof ntof ntloss.
ntTo ntprotect nttheir ntinterest, ntthe ntmortgagee ntmust ntfile nta ntproof ntof ntloss ntwithin
nt_________ ntdays ntafter ntwhat ntdate? nt- ntANS--60 ntdays ntafter ntApril nt30th
For ntrecovery ntunder ntthe ntStandard ntFire ntpolicy, nta ntparty ntmust: nt- ntANS--be
ntnamed ntin ntthe ntpolicy ntand ntshow ntan ntinsurable ntinterest ntin ntthe ntproperty ntat ntthe
nttime ntthe ntloss ntoccurs
What ntis ntthe ntrequirement nton nthow ntmuch ntexperience ntone ntmust nthave ntto ntbe
ntelected ntthe ntinsurance ntcommissioner ntin ntGeorgia? nt- ntANS--None
Once ntelected, nthow ntlong ntis ntthe ntinsurance ntcommissioner's ntterm? nt- ntANS--4
ntyears
Is ntthere nta ntlimit nton ntthe ntnumber ntof ntterms ntan ntinsurance ntcommissioner ntcan
ntserve? nt- ntANS--No
Who ntis ntGeorgia's ntcurrent ntinsurance ntcommissioner? nt- ntANS--Ralph ntHudgens
What nttwo ntcapacities ntdoes ntGeorgia's ntinsurance ntcommissioner ntserve? nt- ntANS--1.
ntChief ntOfficer ntof ntInsurance ntDept.
2. ntChief ntFire ntMarshall
What nthappens ntif ntthe ntInsurance ntCommissioner nthas ntto ntresign ntearly? nt- ntANS--
No ntelection; ntthe ntChief ntDeputy ntwill nttake ntover
What ntis ntthe ntrequirement ntto ntserve ntas ntChief ntDeputy ntin ntGeorgia? nt- ntANS--must
nthave nta ntbond ntin ntthe ntamount ntof nt$15,000
, If ntyou ntare nta ntdomestic ntinsurer ntin ntGeorgia, nthow ntoften ntdoes ntcode ntsay ntyour
ntfinancials ntmust ntbe ntexamined? nt- ntANS--once ntevery nt5 ntyears
Only ntone ntcourt ntin ntGeorgia nthas ntthe ntright ntto ntoverturn ntthe ntdecision ntof ntthe
ntInsurance ntCommissioner. ntWhich ntis ntit? nt- ntANS--Superior ntCourt ntof ntFulton
ntCounty
What ntcertificate ntis ntrequired ntfor nta ntcompany ntto ntbe ntan ntauthorized ntinsurer ntin
ntGeorgia? nt- ntANS--Certificate ntof ntAuthority
Surplus ntLines ntRisk nt- ntANS--has ntbeen ntrejected ntby nt3 ntauthorized ntinsurers
What ntis ntthe ntprimary ntreason ntthe ntstate ntof ntGeorgia ntwould ntrevoke ntan ntinsurance
ntcompany's ntcertificate ntto ntauthorize? nt- ntANS--if ntthey're ntunder ntfinancial ntdistress
What ntare ntthe ntrequirements ntto ntbe nta ntlicensed ntproducer ntin ntGeorgia? nt- ntANS--
must ntbe ntat ntleast nt18 ntyears ntold, nttake nta nt40 nthour ntcourse, ntpass ntlicensing
ntexam, ntapply ntfor ntlicense, ntpass ntbackground ntcheck
Which ntof ntthe ntfollowing ntwould ntbe ntconsidered ntan nt"offer"? nt- ntANS--the ntapplicant
ntsubmits ntan ntapplication ntto ntthe ntcompany ntwith ntpayment
All ntof ntthe ntfollowing ntare nttrue ntabout ntinsurable ntrisk ntexcept:
a) ntthe ntloss ntmust ntnot ntbe ntcatastrophic ntin ntnature
b) ntthe ntloss ntmust ntbe ntlarge ntenough ntto ntcreate nthardship
c) ntthe ntloss ntmust ntnot ntbe ntdefinite ntand ntdefinable
d) ntthe ntlaw ntof ntlarge ntnumbers ntshould ntapply nt- ntANS--c) ntthe ntloss ntmust ntnot ntbe
ntdefinite ntand ntdefinable
all ntof ntthe ntfollowing ntare ntparts ntof ntthe ntinsurance ntcontract ntexcept: nt
a) ntdeclarations
b) ntinsuring ntagreements
c) ntconditions
d) ntinclusions nt- ntANS--d) ntinclusions
something ntthat ntincreases ntthe ntchance ntof nta ntperil ntoccurring ntis ntknown ntas nta(n):
nt- ntANS--hazard
open ntperil, ntor nt"all ntrisk", ntforms: nt- ntANS--name ntthe ntexclusions ntand ntlimitations
When nta ntperson ntdecides ntnot ntto ntbuy ntinsurance ntbecause ntof ntthe ntcost, ntwhat
ntmethod ntof nthandling ntrisk nthas ntbeen ntundertaken? nt- ntANS--risk ntretention
the ntinsurance ntindustry ntdeals ntwith ntthose ntareas ntof ntrisk ntwhere ntthe ntchances ntof
ntloss ntare: nt- ntANS--anywhere ntbetween nt0% ntand nt100%
