100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Claims Adjuster Final Exam – Q&A (Multiple Choice) $13.99   Add to cart

Exam (elaborations)

Claims Adjuster Final Exam – Q&A (Multiple Choice)

1 review
 15 views  0 purchase
  • Course
  • Institution

Claims Adjuster Final Exam – Q&A (Multiple Choice)

Preview 2 out of 15  pages

  • August 3, 2023
  • 15
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

1  review

review-writer-avatar

By: comfortstaffing • 10 months ago

avatar-seller
Claims Adjuster Final Exam – Q&A
(Multiple Choice)
An adjuster is a fiduciary agent with a responsibility of loyalty to the interest
of ✔️Ans -The insured and insurer

An insurer gives which of the following as Consideration for an insurance
policy? ✔️Ans -A Promise

The interest of the insured and all other persons in the property involved in a
claim is
found in ✔️Ans -A Proof of Loss

An insured rear-ends another driver's vehicle. The auto policy that pays
damages to
repair the damaged vehicle is a _______? ✔️Ans -Liability Policy

Your insurance company wrote an auto insurance binder for an owner who
said that he
did not have any prior accidents. Immediately thereafter it was discovered
that he did not
tell the truth. The company now wants to cancel the binder as quickly as
possible. What
is true? ✔️Ans -5 days notice required

For insurance to pay damages, an insurable interest must exist: ✔️Ans -
When the loss takes place

Texting while driving is best described as a: ✔️Ans -Hazard

A covered loss is $90,000. Policy A has a limit of $100,000. Policy B has a limit
of
$200,000. Both policies are pro-rata policies. How much will policy B pay for
this loss? ✔️Ans -$60,000

I sold my home yesterday, signed a deed and transferred title. Last night there
was a

, house fire. I had not yet cancelled my homeowner's insurance. The purchaser
also had a
homeowner's policy. Which policy should pay to pay the claim? ✔️Ans -
Purchaser's policy

Giving prompt notice of loss is best described as a policy: ✔️Ans -Condition

If there is a total loss by an insured peril to a FL building, the insurer must
pay: ✔️Ans -Actual Cash Value

A Loss Payable Clause refers to ✔️Ans -Lenders interest in personal
property

My coin collection was appraised and my insurance company specifically
insured the
valued of that collection. That is an example of: ✔️Ans -A Valued Policy

An insurance contract is based on the Principle of: ✔️Ans -Utmost Good
Faith

The two kinds of waivers are: ✔️Ans -express and implied

Proximate Cause is the unbroken connection between the occurrence and ____
that
grows out of the occurrence. ✔️Ans -Damages

Which loss settlement valuation may be a violation of the Principle of
Indemnity? ✔️Ans -Replacement Cost

If the policy limit is $60,000; 80% coinsurance requirement; loss of $60,000
and the
value of the property is $100,000, what loss amount will the insurer pay?
✔️Ans -$45,000

The insured has a Homeowner's insurance policy with a 5% Hurricane
deductible. If
a hurricane loss of $6,000 occurs to the home that is valued and insured for
$100,000,
how much will the policy pay? ✔️Ans -$1,000

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Studyhall. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.99
  • (1)
  Add to cart