Oklahoma adjuster stuvia - Study guides, Class notes & Summaries

Oklahoma Adjuster License – 3 Questions and Answers 100% CorrectOklahoma Adjuster License – 3 Questions and Answers 100% CorrectOklahoma Adjuster License – 3 Questions and Answers 100% Correct All of the following statements are TRUE regarding a proof of loss statement, EXCEPT: - ANSWER-A proof of loss is also known as a loss notice The "loss notice" is NOT the formal proof of loss. The loss notice is provided by the insured to the agent or insurer as soon as possible after the los...

Oklahoma Adjuster Exam #2 Questions and Answers 100% CorrectOklahoma Adjuster Exam #2 Questions and Answers 100% CorrectOklahoma Adjuster Exam #2 Questions and Answers 100% CorrectOklahoma Adjuster Exam #2 Questions and Answers 100% CorrectOklahoma Adjuster Exam #2 Questions and Answers 100% Correct An individual applied for auto insurance and obtained coverage from EMU Insurance Company. Who is the first party in the contract? - ANSWER-The Insured If a fire hazard causes damage to a buildin...

Oklahoma Insurance Adjuster Exam Prep Questions and Answers (Graded A) Oklahoma Insurance Adjuster Exam Prep Questions and Answers (Graded A) Oklahoma Insurance Adjuster Exam Prep Questions and Answers (Graded A) Insurance - ANSWER-Transfers risk from one party to another. pool or reserve - ANSWER-collected premiums to cover losses/claims Indemnity - ANSWER-restoration to previous financial condition Four essential elements of a contract - ANSWER-agreement, consideration, com...

All of the following statements are TRUE regarding a proof of loss statement, EXCEPT: - ANSWERSA proof of loss is also known as a loss notice The "loss notice" is NOT the formal proof of loss. The loss notice is provided by the insured to the agent or insurer as soon as possible after the loss has occurred. Which of the following acts is NOT considered to be "transacting insurance" within the state of Oklahoma? - ANSWERSTaking an agency's incoming payments, sometimes containing premiu...

An individual applied for auto insurance and obtained coverage from EMU Insurance Company. Who is the first party in the contract? - ANSWERSThe Insured If a fire hazard causes damage to a building, the fire is? - ANSWERSA peril wearing a seatbelt in a car is an example of which method or managing risk? - ANSWERSReduce Tiffany leaves her car unlocked when she goes shopping. She figures her car and its contents are insured, so there is no reason to worry. Which type of hazard is this an e...

Adjuster Pro Oklahoma Practice Exam Questions and Answers 100% CorrectAdjuster Pro Oklahoma Practice Exam Questions and Answers 100% CorrectAdjuster Pro Oklahoma Practice Exam Questions and Answers 100% CorrectAdjuster Pro Oklahoma Practice Exam Questions and Answers 100% CorrectThe 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...

Insurance - ANSWERSTransfers risk from one party to another. pool or reserve - ANSWERScollected premiums to cover losses/claims Indemnity - ANSWERSrestoration to previous financial condition Four essential elements of a contract - ANSWERSagreement, consideration, competent parties, legality When may a policy be terminated? - ANSWERSrevoking the offer, rejecting the offer, time lapse, or termination by operation of law Termination by Operation of Law - ANSWERShappens when one or bo...

Oklahoma Adjuster Review Questions and Answers 100% CorrectOklahoma Adjuster Review Questions and Answers 100% CorrectOklahoma Adjuster Review Questions and Answers 100% CorrectOklahoma Adjuster Review Questions and Answers 100% Correct the commissioner must examine every domestic insurer and every foreign insurer at least one every ______ years - ANSWER-5 years maximum penalty for acting on a revoked, suspend license is $______ and up to five years in jail - ANSWER-$5,000 written proof...

All of the following statements are TRUE regarding a proof of loss statement, EXCEPT: - ANSWER-A proof of loss is also known as a loss notice The "loss notice" is NOT the formal proof of loss. The loss notice is provided by the insured to the agent or insurer as soon as possible after the loss has occurred. Which of the following acts is NOT considered to be "transacting insurance" within the state of Oklahoma? - ANSWER-Taking an agency's incoming payments, sometimes containing premiu...

the commissioner must examine every domestic insurer and every foreign insurer at least one every ______ years - ANSWERS5 years maximum penalty for acting on a revoked, suspend license is $______ and up to five years in jail - ANSWERS$5,000 written proof of loss must be sent to insurer within ______ days of loss - ANSWERS60 days insurer must respond by settling or rejecting claim within ______ days after receiving notice from insured - ANSWERS60 Days records must be retained for at l...