Adjuster licensing class - Study guides, Class notes & Summaries

Resident Licensing Requirements 1. Be licensed as a resident property and casualty insurance producer. 2. Pass the SC broker licensing examination with 70% or better. 3. Pay a biennial fee of $200 4. File surety bond in favor of SC in amount of $10,000. Nonresident Licensing Requirements 1. File application on form prescribed by the director. 2. File affidavit stating insurance on a risk in this state will only be placed with licensed agents of insurers licensed to operate in SC. 3...

Texas All-Lines Adjuster Pre-LicensingA friend of your moves to Texas and wants to become an insurance adjuster and asks you "what are the qualification to be an adjuster?" This person has completed her insurance designation, the CLU (Certified Life Insurance Underwriter) after passing several rigorous examinations while living in Oklahoma. Which would be the correct answer? - correct answer * a person who has a certificate of completion showing that within the past 12 months she has completed...

Adjuster Licensing Class 100% SOLUTION REVISED 2023..2024 The amount the insured must pay in a loss before any payment is due is known as? - ANSWER Deductible What is a partial legal defense that reduces the amount of damages that a person can recover based upon the amount that this person's own negligence contributed to the loss - ANSWER Comparative Negligence What is a situation involving a person other than an insured? - ANSWER Third Party Loss The part of the insurance polic...

Adjuster Licensing Class 100% SOLUTION REVISED 2023..2024 The amount the insured must pay in a loss before any payment is due is known as? - ANSWER Deductible What is a partial legal defense that reduces the amount of damages that a person can recover based upon the amount that this person's own negligence contributed to the loss - ANSWER Comparative Negligence What is a situation involving a person other than an insured? - ANSWER Third Party Loss The part of the insurance polic...

WEBCE Insurance Exam Questions with 100% Correct Answers 1. Which of the following exempted insurance companies from federal antitrust legislation? the McCarran-Ferguson Act 2. Which of the following has primary responsibility for regulating the insurance industry? a. the states Which statement about the NAIC is correct? The NAIC prepares model laws, regulations, and guidelines for adoption by the states. 4. The NAIC issued a model law on long-term care insurance. Which statem...

WEBCE Insurance Exam Questions with 100% Correct Answers 1. Which of the following exempted insurance companies from federal antitrust legislation? the McCarran-Ferguson Act 2. Which of the following has primary responsibility for regulating the insurance industry? a. the states Which statement about the NAIC is correct? The NAIC prepares model laws, regulations, and guidelines for adoption by the states. 4. The NAIC issued a model law on long-term care insurance. Which statem...

Staff Adjuster - Answer Adjusters who work exclusively for an insurance company Independent adjuster - Answer An individual who is employed as an independent contractor to an adjusting / staffing company and handles claims for an insurance company Public adjuster - Answer Adjusters that represent the insured by negotiating claims with the insurance company. Insurer - Answer Any insurance company or self-insured. An organization or entity that facilitates the pooling of funds and the pay...

Statutes and Regulations Casualty Insurance Illinois | Property and Casualty IL Law | IL Casualty Insurance Practice Test Questions and Answers 2023 Graded A. Who Needs a License? Producer license generally required when doing any of the following for compensation: • Selling insurance. • Encouraging someone to buy insurance. • Negotiating terms of insurance. • Giving insurance advice. • Acting without a license is Class A misdemeanor ($2,500 and 1 year in jail). Unlicensed Per...

Adjuster Licensing Class 100% SOLUTION REVISED 2023..2024 The amount the insured must pay in a loss before any payment is due is known as? - ANSWER Deductible What is a partial legal defense that reduces the amount of damages that a person can recover based upon the amount that this person's own negligence contributed to the loss - ANSWER Comparative Negligence What is a situation involving a person other than an insured? - ANSWER Third Party Loss The part of the insurance polic...

The amount the insured must pay in a loss before any payment is due is known as? - ANSWER Deductible What is a partial legal defense that reduces the amount of damages that a person can recover based upon the amount that this person's own negligence contributed to the loss - ANSWER Comparative Negligence