TEXAS ALL LINES ADJUSTER EXAM BRAND NEW!! (200+ QUESTIONS AND CORRECT ANSWERS) VERIFIED ANSWERS
What is the failure to use that degree of care which n ordinary person of reasonable prudence would use under similar circumstances? - ANSWER- Negligence
What is a situation involving a person oth...
TEXAS ALL LINES ADJUSTER EXAM BRAND NEW!! 2023 -2024 (200+ QUESTIONS AND CORRECT ANSWERS ) VERIFIED ANSWERS What is the failure to use that degree of care which n ordinary person of reasonable prudence would use under similar circumstances? - ANSWER - Negligence What is a situation involving a person other than an insured? - ANSWER - Third Party Loss What is th e responsibility to another for one's negligence? - ANSWER - Liability Mary has a homeowner's policy. Her Coverage A limit of liability is $250,000 and her Coverage B limit of liability is $125,000. Her policy has a 2% deductible. What is her deductible? - ANSWER - $5,000 The part of the insurance policy that details the rights and duties of the insured and the insurance company in the policy? - ANSWER - Conditions What is a partial legal defense that reduces the amount of damages that a person can recover based upon the amount that this person's own negligence contributed to the loss? - ANSWER - Comparative Negligence Value of property based on the current cost to replace it minus depreciation? - ANSWER - Actual Cash Vale This type of Auto Coverage pays for your damages if you were involved in a hit and run: - ANSWER - Uninsured Motorist What is the cost associated with replacing property at current market prices? - ANSWER - Replacement Cost The process when an insurer and insured have a dispute regarding th e amount of the damage: - ANSWER - Appraisal The intentional misrepresentation of a material fact that may void a contract? - ANSWER - Fraud What is the type of negotiation that is also sometimes called positional or hard -
bargaining? - ANSWER - Distributive An event that results in an insured loss and damages? - ANSWER - Occurrence What is the period a policy is in force, from the beginning or effective date? - ANSWER - Policy Period The amount the insured must pay in a loss before any payment is due? - ANS WER - Deductible The insurer must review the claim and accept or reject within how many days? - ANSWER - 15 calendar Oral or written false statement that is malicious - ANSWER - Defamation Time requirements does the policy holder have to complete the requi rements that the insurer has requested? - ANSWER - No requirements Days for insurer to pay the claim - ANSWER - 5 business Insurer must acknowledge the claim begin the investigation, and request all the information needed in what time frame? - ANSWER - 15 C alendar days What must an insurer provide for the declination, cancellation, or nonrenewal of an insurance policy? - ANSWER - Written Statement Established in 1991 to ensure prompt payment of insurance claims? - ANSWER - Article 21.55 An insurer may not c onsider a _______ as a basis for declination? - ANSWER - Customer Inquiry An insurer may refuse to renew a policy if the insurer has mailed notice of nonrenewal to the insured at least_____ days before the policy's expiration date? - ANSWER - 30 If the ins urer needs additional time to evaluate and investigate a claim, they can request how many additional days? - ANSWER - 45 Calendar Days Under the Texas HO -B, the structure is covered for what type of losses? - ANSWER - All risk of physical loss, unless exclu ded Under the Texas HO -B, jewelry, watches, and furs are limited to? - ANSWER - $500 for losses caused by theft Under the Texas HO -B policy, the most paid for a tree? - ANSWER - $250 The Special Limit of Liability for Bullion/ Valuable Papers is? - ANSWER - $500 HO-B policy, you would choose the Deductible Clause 1 for losses caused by? - ANSWER - Windstorm, Hurricane, Hail Trees, shrubs, plants, and lawns are not covered for losses caused by? - ANSWER - Windstorm If your policyholder has a percentage dedu ctible, how do you determine what the deductible amount is? - ANSWER - Apply the percentage to Coverage A limit of liability What is a crucial element to the adjustment process? - ANSWER - Claim investigation The adjuster must set appointment ______ to mee t both the needs of the adjuster and the policyholder? - ANSWER - At reasonable times What should adjusters do to obtain a fair and equitable settlement? - ANSWER - Work in Good Faith What should you do to make sure your policyholder always stays informed? - ANSWER - Timely Follow Up The claim activit log must be clear, concise, factual, and always? - ANSWER - Up to date Adjuster should make initial contact within - ANSWER - 24 hours Adjusters should remain... - ANSWER - calm and professional The employee h as to report injury in ____ days - ANSWER - 30 days Two examples of compensation provided by worker's compensation? - ANSWER - Paying for medical bills and replacing bills How many types of worker' comp disability? - ANSWER - 4 Workers Compensation provide s income and medical if they are? - ANSWER - Injured on the job? An employee of Office of Injured Employee Counsel is known as? - ANSWER - Ombudsman Employer must report injuries within___? - ANSWER - 8 days Four Categories of Workers Compensation laws? - ANSWER - Disability, Medical , Survivor, Rehab Disability lasts a short period and employee is fully able to return. - ANSWER - Temporary Total Temporary disablement that allows employee to return but reduced capability? - ANSWER - Temporary partial Adjuste r - ANSWER - an individual license under Insurance Code Article 21.07 -4 All lines, Property & Casualty, Workers Compensation - ANSWER - Types of Texas adjusters CPCU designated, Associat in claims (AIC) designation, completed course or exam with 12 months, expired license 91 -364 days - ANSWER - Exempt from licensing exam License expires on - ANSWER - 2nd anniversary of issue date Must apply after - ANSWER - 90 days expired
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