GA Adjuster Exam Review
In GA,____insurance cannot be written by a reciprocal life
type insurer.
No insurer or licensee doing business in Georgia may Code
pay any commissions or valuable consideration to any
person for services as an agent, subagent, or adjuster
unless that person is duly licensed under the
Mediation is not_____on the parties involved, but with Binding
arbitration the decision is final and____.
Standard and Poor's, A.M. Best and Moody's are Independent Rating Services
examples of:
What is the application fee for filing to become a self- $500
insurer for workers compensation in Georgia?
Insurance adjusters have the "power to bind". Which The principal is bound to the decisions of the adjuster.
of the following statements best describes what this
means?
The perils most frequently covered by a Difference in Flood and Earthquake
Conditions policy are:
What is the purpose of the Georgia Insurance Guaranty Cover claims of insolvent insurers
Association?
, Twisting The act of inducing or attempting to induce a policy owner to drop an existing life
insurance policy and to take another policy that is substantially the same kind by
using misrepresentations or incomplete comparisons of the advantages and
disadvantages of the two policies. Most states have enacted legislation
making twisting a crime.
Churning Churning occurs when an insurance agent replaces a policyholder's insurance
policy for another insurance policy, usually without consulting the
policyholder and often with no changes to the coverage itself. Agents who
engage in churning do so in order to secure an additional commission for the new
policy they swap in.
Rebating Rebating — a portion of the premium or the agent's/broker's commission on the
premium to the insured or other inducements to place business with a specific
insurer. Rebating is illegal in the majority of states. Insurers must use filed rate
credits or have supporting methodology.
Uninsured motorist coverage law in Georgia applies
to bodily injury claims sustained by an insured and
caused by an uninsured motorist as defined by the
law. UMPD coverage is also included.
In Georgia, the Chief Deputy Commissioner must $15,000
execute a bond in the amount of:
Adjusters must maintain record of each investigation or 5
adjustment undertaken, and a statement of any fee,
commission, or other compensation received or to be
received on account of the investigation or adjustment.
How long must the records be maintained for
examination?
The limits of the Employers' Liability section of a standard Listed on the information page
workers' compensation policy are:
An insured has purchased BAP physical damage Falling objects
coverage against specified causes of loss. Protection
applies to all of the following perils, EXCEPT:
Which of the following statements is NOT TRUE of the T
Builders' Risk coverage form?
An insured carries a liability policy and an umbrella The insurance company providing the insured's umbrella liability policy can
policy. The verdict in a personal injury liability suit appeal the case at its own expense even if the insured and the company
was higher than the insured's underlying liability policy's providing the underlying policy do not appeal.
limit of insurance. In this situation:
What is a "notice to show cause?" A notice that states the proposed action may be taken by the Insurance
Department unless the person shows cause at a hearing why the action should
not be taken.
In GA,____insurance cannot be written by a reciprocal life
type insurer.
No insurer or licensee doing business in Georgia may Code
pay any commissions or valuable consideration to any
person for services as an agent, subagent, or adjuster
unless that person is duly licensed under the
Mediation is not_____on the parties involved, but with Binding
arbitration the decision is final and____.
Standard and Poor's, A.M. Best and Moody's are Independent Rating Services
examples of:
What is the application fee for filing to become a self- $500
insurer for workers compensation in Georgia?
Insurance adjusters have the "power to bind". Which The principal is bound to the decisions of the adjuster.
of the following statements best describes what this
means?
The perils most frequently covered by a Difference in Flood and Earthquake
Conditions policy are:
What is the purpose of the Georgia Insurance Guaranty Cover claims of insolvent insurers
Association?
, Twisting The act of inducing or attempting to induce a policy owner to drop an existing life
insurance policy and to take another policy that is substantially the same kind by
using misrepresentations or incomplete comparisons of the advantages and
disadvantages of the two policies. Most states have enacted legislation
making twisting a crime.
Churning Churning occurs when an insurance agent replaces a policyholder's insurance
policy for another insurance policy, usually without consulting the
policyholder and often with no changes to the coverage itself. Agents who
engage in churning do so in order to secure an additional commission for the new
policy they swap in.
Rebating Rebating — a portion of the premium or the agent's/broker's commission on the
premium to the insured or other inducements to place business with a specific
insurer. Rebating is illegal in the majority of states. Insurers must use filed rate
credits or have supporting methodology.
Uninsured motorist coverage law in Georgia applies
to bodily injury claims sustained by an insured and
caused by an uninsured motorist as defined by the
law. UMPD coverage is also included.
In Georgia, the Chief Deputy Commissioner must $15,000
execute a bond in the amount of:
Adjusters must maintain record of each investigation or 5
adjustment undertaken, and a statement of any fee,
commission, or other compensation received or to be
received on account of the investigation or adjustment.
How long must the records be maintained for
examination?
The limits of the Employers' Liability section of a standard Listed on the information page
workers' compensation policy are:
An insured has purchased BAP physical damage Falling objects
coverage against specified causes of loss. Protection
applies to all of the following perils, EXCEPT:
Which of the following statements is NOT TRUE of the T
Builders' Risk coverage form?
An insured carries a liability policy and an umbrella The insurance company providing the insured's umbrella liability policy can
policy. The verdict in a personal injury liability suit appeal the case at its own expense even if the insured and the company
was higher than the insured's underlying liability policy's providing the underlying policy do not appeal.
limit of insurance. In this situation:
What is a "notice to show cause?" A notice that states the proposed action may be taken by the Insurance
Department unless the person shows cause at a hearing why the action should
not be taken.
