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Texas PHIL 2306 License quizzes Answered
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Texas PHIL 2306 License quizzes Answered
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License quizzes:A severe storm rages through OK/ who can the insurance commissioner look to for temp help:
emergency adjustors
Jane is salaried employee/ what kind of adjustor is jane?: staf
What is the title of the insurance professional who processes claims for compensation: insurance
adjustor
An adjustor who acts as fiduciary agent for an insurer must: have authority granted by the insurer
through a contract
In which report to the principal would an adjustor include all witness statements and other supporting
evidence in addition to the total settlement: final report
An adjuster who has just taken witness statements/ not yet ready to close the claim may submit to the
insurer: interim report
Which of the following does not apply to the adjusters responsibility of reporting to the principle: the
report: the adjuster should not include advice on how to get out of paying covered claims because an
adjuster must always determine a fair and equtible settlement
Julie works as an insurance adjuster/settlement check for 5,000 / Julie has the power to bind the insurer
to her decision to pay the claim so the insurer is required to uphold that decision
When an insurer assigns an adjustor to a claim which of the following best describes the adjuster role in
relation: the adjuster acts as a liaison between the claimiant and the insurer
Roger is an insurance adjuster he has just arrived at the claimants home with an engineer in order to
determine/ which step of the claim process is roger currently engaged in: investigation process
An insurance claim is essentially: a formal request to settle the damage based on the terms of the
insurance policy
Of the following adjuster duties would be first: open lines of communication
At what point in the claims process might a reservation of rights letter be sent: At the beginning of the
investigation
Why might an insurer send a claimant a reservation of rights letter: to let the claimant know that there is
a coverage dispute
In an investigation “critical evidence could include except: the claimants premium payment history
For bodily injury liability the adjuster must determine except: the amount of punitive damages
requested
Jim is working on a claim. Currently he is applying all financial provisions of the policy including the
policy limits coinsurance valuation: evaluation process
Jim is currently working on a liability claim and has completed his investigation he presents: negotiation
,What is the first step of the evalution process of a claim?: determining time and cost of repairs
A witness who has had a recorded interview: must have a chance to correct anything that is incorrect
From a legal standpoint when a policyholder files a claim against her insurance policy: formal request
Which of the following statements about arbitration is true?: an arbitrator makes a legally binding
decision based upon the evidence
a/An _____ plays an advisory role in the negotiation process working from a neutral position: mediator
sue sufered some property damage to her home/ estimate 11,957 what is the best solution to resolve
this claim: accept the claim since the damage has been proven and the total is very close
allen is adjusing an auto claim on behalf of ABC insurance/ auto claim come to 7,200 which of the
following is true?: aleen can adjust the claim but ABC must write the settlement check
when a storm rolled through town a month ago johns home sufered substantial: appraisal
a scheduled payment release: in workers compensation claims
while at work barry sufered a spinal cord injury: scheduled payment
which of the following is NOT a characteristic of a fill release settlemtn: the insurer pays for cetain future
incidentals related to the claim
which f the following is true about the partial release:it also called “payment of property damage”
Rodney has been unable to go back to work since he was struck by a vehicle while crossing the street:
advance payment
In a declaratory judgement action: the court decides the legal rights of both parties
Jim has been an adjuster for several years/ give and take in his negoations: reputation
Jessica is trying to earn the trust of a claimant with whom she is neogating a settlement: Jessica goes
into the negotiation with a win at all cost attitude
Which of the following is not necessary preliminary step for the adjuster: speak with the lciamant
beforehand to get an idea of the minimum amount she will accept
Barbara is negotiating a property claim but things are not going well: diversion
Pointing out a piece of evidence that works in a claimnants favor: pleasant surprise
Graham is negotiating a claim but the claimant is beginning to become frustrated and uncomfortable.
Graham decideds to tell a story: humor
Which of the following is an example of appropriate language: the physical damage to the insured roof
appears inconsistent with that of typical hail damage
Susan accidentally rear ended dana. Who is the claimant in this scernio: dana
, When we say that a claims file is discoverable: the file can be used as evidence in a court case
Bob’s home was severely damaged by a thunderstorm and he claims it will cost 74,000: it places the
outcome of a claim in the hands of an unpredictable jury
In a civil trail the jury makes their decision based upon: Preponderance of the evidence
Most state courts today follow the doctrine of: comparative negligence
Jim and his insurer are in court over a claim dispute/ in which type of trial are jim and his insurer
involved: civil trial
Franks home burned to the ground under suspicious circumstances./ frank is charged by the state with
arson: contributory negligence trial
Which of the following is NOT a reason why litigation is considered last resort: courts and laws favor
litigation to negotiation
Which of the following activities would most likely not be a useful negotiation technique: conceding to a
claimant point that is an obvious ploy
Which of following statements is true of a claim dispute litigated in a state: if the plaintif is found to be
at all negligent
When responding to a claim the adjuster primary motivation should be: settle the claim quickly and fairly
without lit
A lightening strike causes one of the storage building on johns farm to burn to the ground/ john insurer
may deny his claim based on his: concealment
Jim has two policies/ when jim sufers an insured loss totaling 62,000 how will each policy respond?:
policy X will pay 50,000 and policy Z will pay 12,000
Frank purchased a 150,000 insurnace policy/assuming that frank’s p[olicy included an overinsurance: $0
An insurer can rescind a policy: fails to pay the premium
The cancellation/ nonrenewal provision: required the insurer to provide notice before cancelling a policy
Which of these is not typically excluded from coverage ina property insurance: lightening
In an insurance policy the abandonment clause: states that the insured is prohibited from forcing the
insurer
According to the inspection and surveys: the insured must allow the insurer to inspect premises
Which of the following is true of the vacancy condition: it establishes the parameters for considering a
building vacant
In insurance terms which of the following statements about salvage: the insured may compel the insurer
to take the damaged property to keep
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