Adjuster Pro Oklahoma Practice Exam
Questions With Correct Answers
The source of the adjusters authority - answerIn the context of insurance adjusting, who is the
principal?
Coverage is not negotiable - answerWhen Nancy is pulling into her driveway, she accidentally
hit the gas and plowed thro...
Adjuster Pro Oklahoma Practice Exam
Questions With Correct Answers
The source of the adjusters authority - answer✔In the context of insurance adjusting, who is the
principal?
Coverage is not negotiable - answer✔When Nancy is pulling into her driveway, she accidentally
hit the gas and plowed through her front wall. She tries to negotiate the claim with the adjuster,
why is this not possible?
True - answer✔True or false: assuring a claimant a policy is covered without determining the
cause of loss is considered improperly acting as a fiduciary agent?
Civil disputes between parties - answer✔Tort Law
The principle of indemnity - answer✔Melindas home sustained $6,500 in damages when Jared
ran into it with his truck. Melinda received $6,599 from her insurance company and Jared also
paid her $5,000. Melinda has now profited from this loss and is in violation of:
A morale hazard - answer✔Robby drives likes to race other drivers and isn't concerned with
damages because of his good insurance. Robby's behavior is
Public adjuster - answer✔A fiduciary agent of behalf of the claimant
Insured - answer✔An individual or organization that pays premiums in exchange for financial
protection
Principle of indemnity - answer✔Prevents an insured from making a profit
Policy recission - answer✔
Public adjuster - answer✔Hired by the claimant and paid commission
Susan's business is not similar to her husbands - answer✔Susan is a successful plastic surgeon
and wants to purchase liability insurance. Her husband, a teacher, is part of a risk retention group
and is quite happy with his insurance. Susan decides to apply to her husband's group, but her
application is denied. Why is this?
A loss - answer✔Ninas home is located in a high crime neighborhood. One day, she comes home
from work to find that her garage door had been vandalized and must be replaced. Nina's insurer
pays her a $2,200 settlement for her claim. The insurer considers the settlement;
Conditions - answer✔Edna loses some of her property in a hailstorm. When an adjuster comes to
investigate the loss, he gives an estimate that Edna thinks is far too low. As negotiations
continue, neither Edna nor the adjuster will budge. Where in Edna's policy would you find the
procedure to follow in this situation?
Adjuster/claimant negotiations - answer✔Easiest and least costly negotiation method
The offered must have no more than one stipulation - answer✔This does NOT make acceptance
of an offer to contract legally enforceable
Conditions - answer✔Where would you find this statement in a policy? "The insured must make
reasonable effort to protect the covered property from further damages"
Wind - answer✔Janes shed burns down in a tornado, when a tree falls on the roof and snaps a
power line, which then ignited the structure. What is the proximate cause of loss?
Conditions - answer✔Where can you find the "duties of the insured after an occurrence"?
The rental fees are an extra expense that resulted from the direct damage to the port -
answer✔After a hurricane severely damaged the Grayson Fishing Port, they must rent another
dock to continue their commercial fishing operations until repairs can be Mande to their port.
The Grayson Fishing Port is covered under a commercial insurance policy with Time Element
coverage. What must they prove in order to be indemnified for the rental fees?
Declarations - answer✔Where can you find the policy period in a policy?
Internal explosion - answer✔In a basic form dwelling policy there are three covered perils. Fire
and lightning are two of them, what is the third?
Subrogation - answer✔One night, sally sets fire to Jimmy's restaurant. Thankfully, jimmy has
commercial property insurance, and it covers the damages to the restaurant. Which condition
makes is possible for the insurance company to go after Sally to get back what they paid out to
Jimmy?
Coverage for slander and copyright - answer✔Typically included in a BOP
$10,000 (new property is automatically covered for 30 days at 25% of the coverage limit, up to
$10,000) - answer✔Eddie has a personal articles floater with a $60,000 limit for jewelry. On a
weekend trip to London, he buys a new diamond-studded flask for $20,000, but his luggage gets
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