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INSURANCE ADJUSTER EXAM QUESTIONS TEST BANK EXAM QUESTIONS AND ANSWERS LATEST DOWNLOAD 2024/2025 BEST EXAM SOLUTION GRADED A+ FOR SUCCESS$14.49
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INSURANCE ADJUSTER EXAM QUESTIONS TEST BANK EXAM
QUESTIONS AND ANSWERS LATEST DOWNLOAD 2024/2025 BEST
EXAM SOLUTION GRADED A+ FOR SUCCESS
Nina's home is located in a high crime neighborhood. One day, she comes
home from work to find that her garage door had been spray-painted with
graffiti. Nina's insurer would consider the act of vandalism to Nina's garage
a: - CORRECT ANSWERS Peril
An economic device used to protect against the risk of realizing unforeseen
and extraordinary financial loss is called: - CORRECT ANSWERS A Peril
Anytown Pediatrics has been having a hard time finding medical
malpractice insurance. The premiums are extraordinarily high, and they get
higher every year. Finally, fed up with the cost of insurance, the directors
decide to form their own insurance company, which will serve only
Anytown Pediatrics. This way, any profits generated by the insurer will
come back to Anytown Pediatrics. What kind of insurance company would
this be? - CORRECT ANSWERS Captive insurer
In an insurance contract, exclusions serve all of the following purposes,
except: - CORRECT ANSWERS add coverages that need special treatment.
Sam was tired of the neighbor's trees along the fence line poking through
the fence and dropping leaves in his yard, so he reached across the fence
with his pole saw and cut down the neighbor's tree. Sam's neighbor was
upset and sued him for the damages. Sam is ordered to pay $500 for the
tree. Under which category of damage would this fall? - CORRECT
ANSWERS Compensory Damage
Jackie recently inherited a life-sized marble statue of her great-grandfather.
It is an irreplaceable antique, and it is nearly impossible to determine the
ACV. Which type of policy would best indemnify Jackie in the event that the
statue was ever damaged? - CORRECT ANSWERS Agreed Value Policy
ABC Consulting has a CGL policy and an Umbrella policy, but the CGL runs
from January 1 to December 31 and the Umbrella policy runs from June 1 to
,INSURANCE ADJUSTER EXAM QUESTIONS TEST BANK EXAM
QUESTIONS AND ANSWERS LATEST DOWNLOAD 2024/2025 BEST
EXAM SOLUTION GRADED A+ FOR SUCCESS
May 31. This difference in inception and expiration dates creates confusion
when settling claims. This condition is known as: - CORRECT ANSWERS
Nonconcurency
A power surge sparks a small electrical fire in an office building. The
electrical fire triggers the automatic sprinkler system. The water from the
sprinklers soaks the carpets and shorts-out all the computers, causing
thousands of dollars in damage. The office must close for two months
during repairs. The sprinklers soaking the office would be considered: -
CORRECT ANSWERS An occurrence
Sara's vehicle was stolen and her insurer paid her theft claim for the total
value of the car. A week later, the police found Sara's car and returned it to
her. Which of the following statements is true? - CORRECT ANSWERS The
Recovered Property provision states that Sara must notify the insurer and
either return the settlement payment or surrender the vehicle to the
insurer.
As Seth is driving along a country road, a deer jumps out in front of him.
This causes Seth to veer off the road and crash into Cassie's wood fence and
a brick mailbox. As a result of the crash, Seth suffers $3,700 in damage to
his sedan and causes $1,800 in damage to Cassie's property. How much of
the damage will be covered by Seth's liability insurance? - CORRECT
ANSWERS $1800
Which of the following sequences is most likely in the correct chronological
order? - CORRECT ANSWERS Acknowledge the claim, then open a line of
communication with the claimant.
Appraisal is used to decide: - CORRECT ANSWERS the settlement amount
The adjusters preliminary report would most likely not include: -
CORRECT ANSWERS The settlement amount
, INSURANCE ADJUSTER EXAM QUESTIONS TEST BANK EXAM
QUESTIONS AND ANSWERS LATEST DOWNLOAD 2024/2025 BEST
EXAM SOLUTION GRADED A+ FOR SUCCESS
Which of the following is least likely to be one of the important questions
an adjuster must answer before entering into the negotiations process? -
CORRECT ANSWERS How much is the insured willing to pay
During a storm, heavy winds cause a tree limb to break and fall onto Paul's
house, causing $6,500 in damage. Paul's insurance company now considers
his house: - CORRECT ANSWERS A Loss
Which of the following best describes a "risk," according to the insurance
definition? - CORRECT ANSWERS A potential for financial loss
A lion at a zoo escaped when a zoo employee failed to follow protocol. The
lion injured a zoo patron. In court, the injured patron's lawyer could invoke
the doctrine of: - CORRECT ANSWERS Res Ipsa Loquitur.
Which of the following best defines the doctrine of Res Ipsa Loquitur? -
CORRECT ANSWERS The circumstances of the injury make it obvious that
the defendant is negligent; no proof is needed
Sylvia is in the process of building an addition onto her used book store,
which is insured under a commercial property policy. About 40 days into
the process, her mother takes a bad fall and breaks her hip. Seeing that she
needs to move closer to her mom, Sylvia sells the book store. Her Builder's
Risk coverage is terminated because: - CORRECT ANSWERS Sylvia no
longer has insurable interest in the bui;ding
Sarah and a carload of her friends are driving to Vermont for the weekend
when she hits a deer, causing $10,000 in damages to her car and $5,000 in
medical bills for herself and her passengers. Which insurance coverage will
pay for the damages to Sarah's car? - CORRECT ANSWERS Comprehensive
What document do insurance companies give to claimants when they think
something in the claim is not covered by the policy, but they are not sure
yet? - CORRECT ANSWERS Reservation of rights letter
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