Oklahoma Insurance adjuster s BUNDLED exam 2023 with 100% correct answers

the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - correct answertrue which of the following coverages does an open peril policy provide? - correct answerperils other th...

After a property homeowners loss, all of the following are duties of the insured, EXCEPT... a) notify the insurance company immediately b) protect from further damage c) do the repairs themselves to save the deductible d) permit the company to inspect the damaged property before repairs begin - ...

Workers Compensation provides all of the following benefits, EXCEPT? - correct answerpain & suffering Which of the following would be eligible for workers compensation benefits? - correct answerone (1) part-time employee When do the benefits for medical benefits become payable? - correct answe...

Representations - correct answerStatements made by the applicant on an insurance application. Contract of Utmost Good Faith - correct answerAn insurer must rely o the truthfulness and integrity of the applicant. Contract of Adhesion - correct answerWhen one party constructs the contract and th...

Risk - correct answerThe chance or uncertainty of loss. Methods of Managing Risk - correct answer1. Avoid risk 2. Control risk 3. Retain a risk 4. Transfer a risk Avoid Risk - correct answerNever get into a car. Control Risk - correct answerTraining workers in the safe use of welding too...

Actuary - correct answerA person who uses mathematical methods to analyze loss data and develop insurance rates. Underwriter (Home Office Underwriter) - correct answerAn employee of the insurer who: 1. Gathers information 2. Analyzes exposures (classifying risk) 3. Selections risk for the i...

The Commissioner must examine the financial affairs of each admitted insurer operating in Oklahoma at least once every how many years? - correct answer5 years Maximum penalty for acting on a revoked, suspended or surrendered license is $__________ and up to __________ years in jail - correct answ...

Alien - correct answerWhich type of insurer is incorporated or organized under the law of a country other than the United States? Insurer - correct answerWho does an insurance producer represent when neglecting an insurance contract. Writing Oklahoma Insurance laws - correct answerWhich of the...

All of the following are categories of a limited insurance license EXCEPT 1) crop insurance 2) variable life insurance 3) credit life insurance 4) travel insurance - correct answer2) variable life insurance What term best describes the act of withholding material information that would be crucial...