Public Adjuster Exam
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1. Public Adjuster Person, partnership, that represents the public as an adjuster of
claims
2. Days to rescind a contract 3 calendar days
3. Public Adjuster minimum Title must read Public Adjuster contract
standards
Name phone number address and business name of Adjuster
Address of the insured and name
Percentage of the payments received
execution date and signatures
right to cancel
4. How can an adjuster col- a percentage of each check, not the lump sum
lect his fee?
5. Are late fees or collection Yes
costs prohibited?
6. Refund payments, return 15 working days
instruments, and take nec-
essary actions under con-
tract
7. Notify an insurer of con- 2 business days
tract execution, commu-
nicate in writing, reply
to written communication
from an insurer
, Public Adjuster Exam
Study online at https://quizlet.com/_dgcm6c
8. Acknowledge receipt of a 10 working days
claim
9. Provide claim forms and 10 working days
reasonable assistance
10. Respond to an insurance 15 working days
department inquiry
11. Complete investigation 30 working days
12. accept or deny a claim af- 15 working days
ter proof of loss is execut-
ed
13. Elements of a contract Agreement, Consideration, Competent Parties, Legal purpose
14. Contract of Adhesion No opportunity to change, must be adhered to
15. Aleatory Contracts Based upon the occurrence of a future event of unequal bargaining
value
16. Personal Contract Highest degree of good faith
17. Unilateral contract Act exchanged for a promise
18. Conditional Contract contingent upon certain acts by the insured
19. Ambiguities not being clear, goes against the insurance company
20. Indemnity Principle of restoring the extent of the loss
21. Subrogation going after the third party's negligence
22. can reject coverage
, Public Adjuster Exam
Study online at https://quizlet.com/_dgcm6c
Material misrepresenta-
tion
23. Warranties Affirmative, Promissory, Implied
24. Insurable interest Interest in property that may cause one the probability of financial
loss
25. Hazards Physical, Moral, and Morale
26. PIGA Act 300,000 per claim and 10k per policy
27. Death of insured 180 days after death or after the policy ends
28. Short rate Insured cancels
29. Pro Rate Insurer cancels
30. Flat rate neither exchanged
31. Dwelling Policy(Owner oc- Nonpayment and Material Mis 30 days
cupied)
32. Dwelling and commer- Nonpayment and material mis 15 days, underwriting 60 days
cial(Nonowner occupied)
33. Specified(Named Perils) Covered, Ex. Fire and lightning
34. Special Form(Open Perils) Not covered, Ex. Wear and Tear
35. Direct loss Fire and vandalism
36. Indirect loss Renting another place to live
37. ACV Replacement cost minus depreciation
Study online at https://quizlet.com/_dgcm6c
1. Public Adjuster Person, partnership, that represents the public as an adjuster of
claims
2. Days to rescind a contract 3 calendar days
3. Public Adjuster minimum Title must read Public Adjuster contract
standards
Name phone number address and business name of Adjuster
Address of the insured and name
Percentage of the payments received
execution date and signatures
right to cancel
4. How can an adjuster col- a percentage of each check, not the lump sum
lect his fee?
5. Are late fees or collection Yes
costs prohibited?
6. Refund payments, return 15 working days
instruments, and take nec-
essary actions under con-
tract
7. Notify an insurer of con- 2 business days
tract execution, commu-
nicate in writing, reply
to written communication
from an insurer
, Public Adjuster Exam
Study online at https://quizlet.com/_dgcm6c
8. Acknowledge receipt of a 10 working days
claim
9. Provide claim forms and 10 working days
reasonable assistance
10. Respond to an insurance 15 working days
department inquiry
11. Complete investigation 30 working days
12. accept or deny a claim af- 15 working days
ter proof of loss is execut-
ed
13. Elements of a contract Agreement, Consideration, Competent Parties, Legal purpose
14. Contract of Adhesion No opportunity to change, must be adhered to
15. Aleatory Contracts Based upon the occurrence of a future event of unequal bargaining
value
16. Personal Contract Highest degree of good faith
17. Unilateral contract Act exchanged for a promise
18. Conditional Contract contingent upon certain acts by the insured
19. Ambiguities not being clear, goes against the insurance company
20. Indemnity Principle of restoring the extent of the loss
21. Subrogation going after the third party's negligence
22. can reject coverage
, Public Adjuster Exam
Study online at https://quizlet.com/_dgcm6c
Material misrepresenta-
tion
23. Warranties Affirmative, Promissory, Implied
24. Insurable interest Interest in property that may cause one the probability of financial
loss
25. Hazards Physical, Moral, and Morale
26. PIGA Act 300,000 per claim and 10k per policy
27. Death of insured 180 days after death or after the policy ends
28. Short rate Insured cancels
29. Pro Rate Insurer cancels
30. Flat rate neither exchanged
31. Dwelling Policy(Owner oc- Nonpayment and Material Mis 30 days
cupied)
32. Dwelling and commer- Nonpayment and material mis 15 days, underwriting 60 days
cial(Nonowner occupied)
33. Specified(Named Perils) Covered, Ex. Fire and lightning
34. Special Form(Open Perils) Not covered, Ex. Wear and Tear
35. Direct loss Fire and vandalism
36. Indirect loss Renting another place to live
37. ACV Replacement cost minus depreciation
