GA Insurance Adjuster Course practice questions with answers

Six Special Characteristic of Insurance Contracts - answer; Personal, Adhesion, Utmost Good Faith, Aleatory, Unilateral, Condition Coverage F - answer; Medical Payments Umbrella - answer; An umbrella policy provided liability coverage over and above the normal or base limits of liability in a policy. An umbrella policy is a type of excess policy Risk Transference - answer; Management of severe risk by transferring the risk of another party Risk Avoidance - answer; Eliminates risk by not taking an action that involves risk B.O.P. - answer; Business Owner Package C.P.P - answer; Commercial Package Policies Representation - answer; A statement of a fact Misrepresentation - answer; A false, distorted, or deceitful statement of fact or opinion, even if made unintentionally Personal Contract - answer; Protects the policyholder from financial losses. It does not protect property from becoming damaged. Coverage the follows the person, not the property. Adhesion Contract - answer; The insurer is responsible for the term of the contract. The insured has no say in wording. Courts favor the insured in the event of an ambiguity. Utmost Good Faith Contract -