Insurance Adjuster Exam Questions With
Correct Answers
Which |kind |of |losses |are |covered |under |a |standard |fire |policy? |- |CORRECT |ANSWER✔✔-Direct
All |fires |are |not |covered |by |the |Standard |Fire |policies, |only |those |that: |- |CORRECT |
ANSWER✔✔-are |hostile |and |have |a |flame |or |glow
At |what |time |does |a |fire |policy |go |into |affect? |- |CORRECT |ANSWER✔✔-12:01am |standard |time
|at |the |location |of |the |insured's |property
A |property |is |insured |under |two |Standard |Fire |policies |for |$25,000 |each. |A |fire |causes |$10,000
|worth |of |damage. |What |is |the |maximum |amount |the |insured |may |collect |under |each |policy? |-
|CORRECT |ANSWER✔✔-$5,000
A |fire |burning |in |the |middle |of |the |living |room |would |be |considered: |- |CORRECT |ANSWER✔✔-
a |hostile |fire
An |insured's |house |is |damaged |by |fire |caused |by |a |neighbor's |negligence. |The |insurance |
company |will |attempt |to |recover |damage |from |the |neighbor. |This |is |called: |- |CORRECT |
ANSWER✔✔-subrogation
Which |of |the |following |statements |are |true |concerning |requirements |of |the |standard |fire |
policy? |- |CORRECT |ANSWER✔✔-The |insured |must |separate |damaged |from |undamaged |
property |in |the |event |there |is |a |loss |AND |If |a |loss |occurs, |the |insured |normally |has |60 |days |to |
file |a |proof |of |loss |with |the |insurer
Which |types |of |property |are |excluded |from |coverage |under |the |basic |fire |policy? |- |CORRECT |
ANSWER✔✔-accounts, |currency, |deeds, |and |securities
,Who |is |insured |under |the |Standard |Fire |policy? |- |CORRECT |ANSWER✔✔-the |named |insured |
and |his |legal |representatives
An |agreement |which |affords |temporary |insurance |protection |until |the |policy |is |issued |is |called:
|- |CORRECT |ANSWER✔✔-a |binder
as |a |general |rule, |a |complete |fire |insurance |policy |would |be |made |up |of: |- |CORRECT |
ANSWER✔✔-the |Standard |Fire |policy |with |one |or |more |forms |attached
The |one |condition |listed |below |which |will |not |void |a |fire |policy: |
a) |false |swearing
b) |misrepresentation
c) |over-insurance
d) |concealment |- |CORRECT |ANSWER✔✔-over-insurance
replacement |cost |minus |depreciation: |- |CORRECT |ANSWER✔✔-Actual |Cash |Value |(ACV)
The |Standard |Fire |policy |with |an |extended |coverage |endorsement |attached |covers |which |of |
the |following: |- |CORRECT |ANSWER✔✔-riot
A |loss |due |to |order |of |Civil |Authority: |- |CORRECT |ANSWER✔✔-is |excluded |unless |the |loss |
occurs |because |of |an |order |by |Civil |Authorities |for |the |purpose |of |controlling |a |fire
The |term |"unoccupancy" |refers |to |the |absence |of |: |- |CORRECT |ANSWER✔✔-persons |from |a |
building
, Suppose |a |fire |occurs |on |February |26th. |On |April |30th, |the |insurance |company |notifies |the |
mortgagee |the |insured |has |not |filed |a |proof |of |loss. |To |protect |their |interest, |the |mortgagee |
must |file |a |proof |of |loss |within |_________ |days |after |what |date? |- |CORRECT |ANSWER✔✔-60 |
days |after |April |30th
For |recovery |under |the |Standard |Fire |policy, |a |party |must: |- |CORRECT |ANSWER✔✔-be |named |
in |the |policy |and |show |an |insurable |interest |in |the |property |at |the |time |the |loss |occurs
What |is |the |requirement |on |how |much |experience |one |must |have |to |be |elected |the |insurance
|commissioner |in |Georgia? |- |CORRECT |ANSWER✔✔-None
Once |elected, |how |long |is |the |insurance |commissioner's |term? |- |CORRECT |ANSWER✔✔-4 |
years
Is |there |a |limit |on |the |number |of |terms |an |insurance |commissioner |can |serve? |- |CORRECT |
ANSWER✔✔-No
Who |is |Georgia's |current |insurance |commissioner? |- |CORRECT |ANSWER✔✔-Ralph |Hudgens
What |two |capacities |does |Georgia's |insurance |commissioner |serve? |- |CORRECT |ANSWER✔✔-
1. |Chief |Officer |of |Insurance |Dept.
2. |Chief |Fire |Marshall
What |happens |if |the |Insurance |Commissioner |has |to |resign |early? |- |CORRECT |ANSWER✔✔-No
|election; |the |Chief |Deputy |will |take |over
What |is |the |requirement |to |serve |as |Chief |Deputy |in |Georgia? |- |CORRECT |ANSWER✔✔-must |
have |a |bond |in |the |amount |of |$15,000
Correct Answers
Which |kind |of |losses |are |covered |under |a |standard |fire |policy? |- |CORRECT |ANSWER✔✔-Direct
All |fires |are |not |covered |by |the |Standard |Fire |policies, |only |those |that: |- |CORRECT |
ANSWER✔✔-are |hostile |and |have |a |flame |or |glow
At |what |time |does |a |fire |policy |go |into |affect? |- |CORRECT |ANSWER✔✔-12:01am |standard |time
|at |the |location |of |the |insured's |property
A |property |is |insured |under |two |Standard |Fire |policies |for |$25,000 |each. |A |fire |causes |$10,000
|worth |of |damage. |What |is |the |maximum |amount |the |insured |may |collect |under |each |policy? |-
|CORRECT |ANSWER✔✔-$5,000
A |fire |burning |in |the |middle |of |the |living |room |would |be |considered: |- |CORRECT |ANSWER✔✔-
a |hostile |fire
An |insured's |house |is |damaged |by |fire |caused |by |a |neighbor's |negligence. |The |insurance |
company |will |attempt |to |recover |damage |from |the |neighbor. |This |is |called: |- |CORRECT |
ANSWER✔✔-subrogation
Which |of |the |following |statements |are |true |concerning |requirements |of |the |standard |fire |
policy? |- |CORRECT |ANSWER✔✔-The |insured |must |separate |damaged |from |undamaged |
property |in |the |event |there |is |a |loss |AND |If |a |loss |occurs, |the |insured |normally |has |60 |days |to |
file |a |proof |of |loss |with |the |insurer
Which |types |of |property |are |excluded |from |coverage |under |the |basic |fire |policy? |- |CORRECT |
ANSWER✔✔-accounts, |currency, |deeds, |and |securities
,Who |is |insured |under |the |Standard |Fire |policy? |- |CORRECT |ANSWER✔✔-the |named |insured |
and |his |legal |representatives
An |agreement |which |affords |temporary |insurance |protection |until |the |policy |is |issued |is |called:
|- |CORRECT |ANSWER✔✔-a |binder
as |a |general |rule, |a |complete |fire |insurance |policy |would |be |made |up |of: |- |CORRECT |
ANSWER✔✔-the |Standard |Fire |policy |with |one |or |more |forms |attached
The |one |condition |listed |below |which |will |not |void |a |fire |policy: |
a) |false |swearing
b) |misrepresentation
c) |over-insurance
d) |concealment |- |CORRECT |ANSWER✔✔-over-insurance
replacement |cost |minus |depreciation: |- |CORRECT |ANSWER✔✔-Actual |Cash |Value |(ACV)
The |Standard |Fire |policy |with |an |extended |coverage |endorsement |attached |covers |which |of |
the |following: |- |CORRECT |ANSWER✔✔-riot
A |loss |due |to |order |of |Civil |Authority: |- |CORRECT |ANSWER✔✔-is |excluded |unless |the |loss |
occurs |because |of |an |order |by |Civil |Authorities |for |the |purpose |of |controlling |a |fire
The |term |"unoccupancy" |refers |to |the |absence |of |: |- |CORRECT |ANSWER✔✔-persons |from |a |
building
, Suppose |a |fire |occurs |on |February |26th. |On |April |30th, |the |insurance |company |notifies |the |
mortgagee |the |insured |has |not |filed |a |proof |of |loss. |To |protect |their |interest, |the |mortgagee |
must |file |a |proof |of |loss |within |_________ |days |after |what |date? |- |CORRECT |ANSWER✔✔-60 |
days |after |April |30th
For |recovery |under |the |Standard |Fire |policy, |a |party |must: |- |CORRECT |ANSWER✔✔-be |named |
in |the |policy |and |show |an |insurable |interest |in |the |property |at |the |time |the |loss |occurs
What |is |the |requirement |on |how |much |experience |one |must |have |to |be |elected |the |insurance
|commissioner |in |Georgia? |- |CORRECT |ANSWER✔✔-None
Once |elected, |how |long |is |the |insurance |commissioner's |term? |- |CORRECT |ANSWER✔✔-4 |
years
Is |there |a |limit |on |the |number |of |terms |an |insurance |commissioner |can |serve? |- |CORRECT |
ANSWER✔✔-No
Who |is |Georgia's |current |insurance |commissioner? |- |CORRECT |ANSWER✔✔-Ralph |Hudgens
What |two |capacities |does |Georgia's |insurance |commissioner |serve? |- |CORRECT |ANSWER✔✔-
1. |Chief |Officer |of |Insurance |Dept.
2. |Chief |Fire |Marshall
What |happens |if |the |Insurance |Commissioner |has |to |resign |early? |- |CORRECT |ANSWER✔✔-No
|election; |the |Chief |Deputy |will |take |over
What |is |the |requirement |to |serve |as |Chief |Deputy |in |Georgia? |- |CORRECT |ANSWER✔✔-must |
have |a |bond |in |the |amount |of |$15,000
