Macellen Education Agencies

626.854 (3) correct answers A public adjuster may not give legal advice or act on behalf of or aid any person in negotiating or settling a claim relating to bodily injury, death, or noneconomic damages. 626.854 (5) correct answers A public adjuster may not directly or indirectly through any other person or entity solicit an insured or claimant by any means except on Monday through Saturday of each week and only between the hours of 8 a.m. and 8 p.m. on those days. 626.854 (6) correct an...

There are several important statutory requirements pertaining to contracts made by public adjusters: correct answers Must state the type of claim, including an emergency claim, non-emergency claim or supplemental claim. Requires the signatures of all named insureds. If the signatures of all named insureds are not available, the public adjuster must submit an affidavit signed by the available named insureds attesting that they have authority to enter into the contract and settle all claim issu...

The most accurate description of Pure Risk is which of the following? -Insurable -chance of financial loss -only eligible if the insured can see the damage -not insurable correct answers insurable Which of the following can be found in Definitions? -Who is an insured? -Duties of the insured at time of loss -Intentionally causing damage to their property -Coverage territory correct answers Who is an insured? Which of the following can be found in "Conditions"? -Who is an...

Actual Cash Value (ACV) correct answers Cost to replace property with new property of like kind and quality less depreciation. Combined Single Limit correct answers One limit per occurrence is what we pay up to Split limit correct answers What we pay up to per person and per occurrence Deductible correct answers What the customer will have to pay; we cover everything else Declarations Page (Dec Page) correct answers The basic information about a policy: Who - names of insurer a...

The insurer and insured agree to a specific value of insured item correct answers Agreed Value Policies Someone who has care, custody or control of another's property correct answers Bailee Claim filed by policy holder against his _ correct answers First Party Claim When a person who entrusts another with an object and it results in injury to someone can be held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI correct answers Negligent Entru...

Edward is a member of the Knights of Columbus, a religious group dedicated to voluntary service to the benefit of society. He also recently purchased a $100,000 life insurance policy from the organization. This was possible because the Knights of Columbus is: correct answers a fraternal benefit society Jason's auto policy states that the insurer may cancel coverage if a premium is more than 30 days late. However, Jason is currently more than 30 days late, and has been so five times in the...

Which of the following is NOT one of the four critical elements of a contract? (A) A mutual understanding and agreement with the terms of the contract. (B) Written evidence of the agreement and its terms. (C)A legal purpose. (D)Consideration, consisting of money or a promise of performance. correct answers (B) Written evidence of the agreement and its terms. Assume that five years ago a couple insured their home for [its then appraised value of] $60,000. Two weeks ago they had a ...

To operate as an insurance agency in Florida an agency is required to: A. appoint at least two agents to manage the agency B. appoint the Office as its agent for service or process C. obtain a license or reg1strabon from the state D. have transacted insurance in Florida for at least two years before apply for a license correct answers C. obtain a license or registration from the state Owen's house is damaged when Latrice's car crashes into it. After Owen's insurer pays to repa...

The Adjuster's Code of Ethics starts with a basic premise which states: correct answers The work of adjusting engages the public trust Once an adjuster is licensed he or she must maintain a continuing education requirement. Select from the following an adjuster's compliance requirement in order to stay licensed: correct answers A newly licensed adjuster must complete 24 hours of continuing education in every two year compliance period, of which 5 hours must be taken in a properly cert...

Peril correct answers Somthing t√dhat causes a loss. Hazard correct answers Something that increases the probability that a loss will occur. Warranty correct answers A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation correct answers An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment correct answers...