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Exam (elaborations)

Insurance Adjuster Exam Questions and Answers (100% Pass)

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  • Insurance Adjuster

Which kind of losses are covered under a standard fire policy? Direct All fires are not covered by the Standard Fire policies, only those that: are hostile and have a flame or glow At what time does a fire policy go into affect? 12:01am standard time at the location of the insured's propert...

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  • October 12, 2024
  • 44
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Insurance Adjuster
  • Insurance Adjuster
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1 | P a g e | © copyright 2024/2025 | Grade A+




Insurance Adjuster Exam Questions
and Answers (100% Pass)
Which kind of losses are covered under a standard fire policy?


✓ Direct




All fires are not covered by the Standard Fire policies, only those that:


✓ are hostile and have a flame or glow




At what time does a fire policy go into affect?


✓ 12:01am standard time at the location of the insured's property




A property is insured under two Standard Fire policies for $25,000 each. A fire

causes $10,000 worth of damage. What is the maximum amount the insured

may collect under each policy?


✓ $5,000




A fire burning in the middle of the living room would be considered:


✓ a hostile fire




Master01 | October, 2024/2025 | Latest update

, 1 | P a g e | © copyright 2024/2025 | Grade A+

An insured's house is damaged by fire caused by a neighbor's negligence.

The insurance company will attempt to recover damage from the neighbor.

This is called:


✓ subrogation




Which of the following statements are true concerning requirements of the

standard fire policy?


✓ The insured must separate damaged from undamaged property in the

event there is a loss AND If a loss occurs, the insured normally has 60

days to file a proof of loss with the insurer




Which types of property are excluded from coverage under the basic fire

policy?


✓ accounts, currency, deeds, and securities




Who is insured under the Standard Fire policy?


✓ the named insured and his legal representatives




An agreement which affords temporary insurance protection until the policy

is issued is called:




Master01 | October, 2024/2025 | Latest update

, 1 | P a g e | © copyright 2024/2025 | Grade A+

✓ a binder




as a general rule, a complete fire insurance policy would be made up of:


✓ the Standard Fire policy with one or more forms attached




The one condition listed below which will not void a fire policy:


a) false swearing


b) misrepresentation


c) over-insurance


d) concealment


✓ over-insurance




replacement cost minus depreciation:


✓ Actual Cash Value (ACV)




The Standard Fire policy with an extended coverage endorsement attached

covers which of the following:


✓ riot




A loss due to order of Civil Authority:


Master01 | October, 2024/2025 | Latest update

, 1 | P a g e | © copyright 2024/2025 | Grade A+

✓ is excluded unless the loss occurs because of an order by Civil

Authorities for the purpose of controlling a fire




The term "unoccupancy" refers to the absence of :


✓ persons from a building




Suppose a fire occurs on February 26th. On April 30th, the insurance

company notifies the mortgagee the insured has not filed a proof of loss. To

protect their interest, the mortgagee must file a proof of loss within _________

days after what date?


✓ 60 days after April 30th




For recovery under the Standard Fire policy, a party must:


✓ be named in the policy and show an insurable interest in the property

at the time the loss occurs




What is the requirement on how much experience one must have to be

elected the insurance commissioner in Georgia?


✓ None




Once elected, how long is the insurance commissioner's term?


Master01 | October, 2024/2025 | Latest update

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