ae21 Insurance Adjuster License Final
2025|Complete Exam Test |Recently
Testing Real Exam Questions|Verified
Solutions (100% correct)
An assertion of of an alleged legal right against a person, entity, company or insurer that carries
with it a demand for money as compensation for injuries or damage. - CORRECT ANSWER- A
Claim in the property industry is defined as
Peace of mind - CORRECT ANSWER- What are you really, buying when you purchase
insurance
It is a financial product, the purchase of a product based on trust. - CORRECT ANSWER- Why
is insurance such a unique product
To help those who have been injured, or who have suffered a loss that is covered by the
insurance contract. - CORRECT ANSWER- What is an adjusters most important objective in
todays world of insurance?
Claims adjustor who is a salaried employee representing only one company. - CORRECT
ANSWER- company adjustor
An independent claim representative who handles claims for insurers for a fee. - CORRECT
ANSWER- Independent Adjuster
- CORRECT ANSWER- property adjuster
- CORRECT ANSWER- Liability Adjuster
Field Adjuster - CORRECT ANSWER- Multi-Line Adjusters
That duty owed by an agent to act in the highest good faith toward the principal and not to
obtain any advantage over the latter by the slightest misrepresentation, concealment, duress or
pressure. - CORRECT ANSWER- Fiduciary Duty
- CORRECT ANSWER- Agency: Power to Bind
Inspection - CORRECT ANSWER- What is not a basic adjusting function
Establishing a dollar value for a claim - CORRECT ANSWER- Evaluation
Paying what is owed, asking the claimant to ask you questions. - CORRECT ANSWER- No
Release/Walk Away
No - CORRECT ANSWER- Is an Adjusters claim file "confidential"?
Inquiry, Verification, and Comparison - CORRECT ANSWER- Main components in the
, The failure, without legal excuse, of a promisor to perform the obligations of a contract. "Bad
Faith" verdict. - CORRECT ANSWER- breach of contract
Endorsements - CORRECT ANSWER- What is not a fundamental part of an insurance policy?
Giving prompt notice of loss to the insurer - CORRECT ANSWER- Following a loss, what is one
one of the duties of the insured?
percentage of the value of the insured property - CORRECT ANSWER- Percentage Deductible
$10,000 for bodily injury to one person in an accident, A max of $20,000 for all individuals in an
accident regardless of the total number involved, and a Max of $10,000 for all property damage.
- CORRECT ANSWER- 10/20/10 Split Limit Policy
Breach of Warranty - CORRECT ANSWER- Which of the following is NOT a defense to a claim
of Negligence?
Valued Policy Law - CORRECT ANSWER- Which of the following is NOT a law that affects ones
Legal Liability?
Doing anything with an insured vehicle. - CORRECT ANSWER- "Arising out of the use of"
Letting somebody use your vehicle of that which you are insured under. - CORRECT ANSWER-
Permissive Use
Will pay up to $200 a day for the insured's loss or earnings if they are required to attend trials or
hearings. - CORRECT ANSWER- Supplementary Payments Coverage
Any vehicle with less than four wheels.
Using a vehicle without the permission of the insured. - CORRECT ANSWER- Liability
Coverage cannot be used for:
those individuals meeting the definition of an "insured" under the policy. - CORRECT ANSWER-
In a Personal Auto-Policy, liability coverage only protects:
Review the notice of claim and policy
Contact the Insured
Secure Claimant's Statement
Secure the police report and witness statements
Contact Claimant and Resolve the Claim - CORRECT ANSWER- Claims Process:
Private Passenger, Commercial Vehicles, Public Transport, Specialty Units - CORRECT
ANSWER- Business Auto Policy - Types of Vehicles Insured
A coverage insured for the selling, fixing, and storing of vehicles. - CORRECT ANSWER-
Garage Keepers Liability
Any-Auto - CORRECT ANSWER- WHEN COVERAGE SYMBOLS #1 OR #21 ARE USED TO
DESCRIBE AUTOS FOR WHICH COVERAGE IS PROVIDED UNDER THE BUSINESS AUTO
OR GARAGE POLICIES, TO WHICH TYPE OF AUTOS ARE THESE SYMBOLS
REFERRING?
7 - CORRECT ANSWER- Which of the following symbols is used to provide coverage for
2025|Complete Exam Test |Recently
Testing Real Exam Questions|Verified
Solutions (100% correct)
An assertion of of an alleged legal right against a person, entity, company or insurer that carries
with it a demand for money as compensation for injuries or damage. - CORRECT ANSWER- A
Claim in the property industry is defined as
Peace of mind - CORRECT ANSWER- What are you really, buying when you purchase
insurance
It is a financial product, the purchase of a product based on trust. - CORRECT ANSWER- Why
is insurance such a unique product
To help those who have been injured, or who have suffered a loss that is covered by the
insurance contract. - CORRECT ANSWER- What is an adjusters most important objective in
todays world of insurance?
Claims adjustor who is a salaried employee representing only one company. - CORRECT
ANSWER- company adjustor
An independent claim representative who handles claims for insurers for a fee. - CORRECT
ANSWER- Independent Adjuster
- CORRECT ANSWER- property adjuster
- CORRECT ANSWER- Liability Adjuster
Field Adjuster - CORRECT ANSWER- Multi-Line Adjusters
That duty owed by an agent to act in the highest good faith toward the principal and not to
obtain any advantage over the latter by the slightest misrepresentation, concealment, duress or
pressure. - CORRECT ANSWER- Fiduciary Duty
- CORRECT ANSWER- Agency: Power to Bind
Inspection - CORRECT ANSWER- What is not a basic adjusting function
Establishing a dollar value for a claim - CORRECT ANSWER- Evaluation
Paying what is owed, asking the claimant to ask you questions. - CORRECT ANSWER- No
Release/Walk Away
No - CORRECT ANSWER- Is an Adjusters claim file "confidential"?
Inquiry, Verification, and Comparison - CORRECT ANSWER- Main components in the
, The failure, without legal excuse, of a promisor to perform the obligations of a contract. "Bad
Faith" verdict. - CORRECT ANSWER- breach of contract
Endorsements - CORRECT ANSWER- What is not a fundamental part of an insurance policy?
Giving prompt notice of loss to the insurer - CORRECT ANSWER- Following a loss, what is one
one of the duties of the insured?
percentage of the value of the insured property - CORRECT ANSWER- Percentage Deductible
$10,000 for bodily injury to one person in an accident, A max of $20,000 for all individuals in an
accident regardless of the total number involved, and a Max of $10,000 for all property damage.
- CORRECT ANSWER- 10/20/10 Split Limit Policy
Breach of Warranty - CORRECT ANSWER- Which of the following is NOT a defense to a claim
of Negligence?
Valued Policy Law - CORRECT ANSWER- Which of the following is NOT a law that affects ones
Legal Liability?
Doing anything with an insured vehicle. - CORRECT ANSWER- "Arising out of the use of"
Letting somebody use your vehicle of that which you are insured under. - CORRECT ANSWER-
Permissive Use
Will pay up to $200 a day for the insured's loss or earnings if they are required to attend trials or
hearings. - CORRECT ANSWER- Supplementary Payments Coverage
Any vehicle with less than four wheels.
Using a vehicle without the permission of the insured. - CORRECT ANSWER- Liability
Coverage cannot be used for:
those individuals meeting the definition of an "insured" under the policy. - CORRECT ANSWER-
In a Personal Auto-Policy, liability coverage only protects:
Review the notice of claim and policy
Contact the Insured
Secure Claimant's Statement
Secure the police report and witness statements
Contact Claimant and Resolve the Claim - CORRECT ANSWER- Claims Process:
Private Passenger, Commercial Vehicles, Public Transport, Specialty Units - CORRECT
ANSWER- Business Auto Policy - Types of Vehicles Insured
A coverage insured for the selling, fixing, and storing of vehicles. - CORRECT ANSWER-
Garage Keepers Liability
Any-Auto - CORRECT ANSWER- WHEN COVERAGE SYMBOLS #1 OR #21 ARE USED TO
DESCRIBE AUTOS FOR WHICH COVERAGE IS PROVIDED UNDER THE BUSINESS AUTO
OR GARAGE POLICIES, TO WHICH TYPE OF AUTOS ARE THESE SYMBOLS
REFERRING?
7 - CORRECT ANSWER- Which of the following symbols is used to provide coverage for
