INSURANCE ADJUSTER EXAM 2026 FINAL
PAPER FULLY SOLVED FOR TOP
PERFORMANCE
◉What happens if the Insurance Commissioner has to resign early?.
Answer: No election; the Chief Deputy will take over
◉What is the requirement to serve as Chief Deputy in Georgia?.
Answer: must have a bond in the amount of $15,000
◉If you are a domestic insurer in Georgia, how often does code say
your financials must be examined?. Answer: once every 5 years
◉Only one court in Georgia has the right to overturn the decision of
the Insurance Commissioner. Which is it?. Answer: Superior Court of
Fulton County
◉What certificate is required for a company to be an authorized
insurer in Georgia?. Answer: Certificate of Authority
,◉Surplus Lines Risk. Answer: has been rejected by 3 authorized
insurers
◉What is the primary reason the state of Georgia would revoke an
insurance company's certificate to authorize?. Answer: if they're
under financial distress
◉What are the requirements to be a licensed producer in Georgia?.
Answer: must be at least 18 years old, take a 40 hour course, pass
licensing exam, apply for license, pass background check
◉Which of the following would be considered an "offer"?. Answer:
the applicant submits an application to the company with payment
◉All of the following are true about insurable risk except:
a) the loss must not be catastrophic in nature
b) the loss must be large enough to create hardship
c) the loss must not be definite and definable
d) the law of large numbers should apply. Answer: c) the loss must
not be definite and definable
◉all of the following are parts of the insurance contract except:
a) declarations
b) insuring agreements
,c) conditions
d) inclusions. Answer: d) inclusions
◉something that increases the chance of a peril occurring is known
as a(n):. Answer: hazard
◉open peril, or "all risk", forms:. Answer: name the exclusions and
limitations
◉When a person decides not to buy insurance because of the cost,
what method of handling risk has been undertaken?. Answer: risk
retention
◉the insurance industry deals with those areas of risk where the
chances of loss are:. Answer: anywhere between 0% and 100%
◉which of the following is not an element for the formation of a
valid contract?
a) consideration
b) legal purpose
c) agreement
d) incompetent parties. Answer: d) incompetent parties
, ◉Actual cash value=. Answer: replacement cost minus depreciation
◉an insurance policy is an aleatory contract, which means:. Answer:
performance depends on the occurrence of an uncertain event
◉an insured's right to seek damages from someone at-fault may be
may be transferred to the insurer under the policy's:. Answer:
subrogation clause
◉the Law of Large Numbers states that:. Answer: the more
examples used to develop a statistic, the more reliable the statistic
will be
◉Which of the following about insurance policies are true?. Answer:
policies are usually personal contracts
◉The concept of restoring the insured to approximately the same
economic position occupied before the loss is called:. Answer:
indemnity
◉which of the following is used to modify an insurance policy from
its original form?. Answer: Endorsements
PAPER FULLY SOLVED FOR TOP
PERFORMANCE
◉What happens if the Insurance Commissioner has to resign early?.
Answer: No election; the Chief Deputy will take over
◉What is the requirement to serve as Chief Deputy in Georgia?.
Answer: must have a bond in the amount of $15,000
◉If you are a domestic insurer in Georgia, how often does code say
your financials must be examined?. Answer: once every 5 years
◉Only one court in Georgia has the right to overturn the decision of
the Insurance Commissioner. Which is it?. Answer: Superior Court of
Fulton County
◉What certificate is required for a company to be an authorized
insurer in Georgia?. Answer: Certificate of Authority
,◉Surplus Lines Risk. Answer: has been rejected by 3 authorized
insurers
◉What is the primary reason the state of Georgia would revoke an
insurance company's certificate to authorize?. Answer: if they're
under financial distress
◉What are the requirements to be a licensed producer in Georgia?.
Answer: must be at least 18 years old, take a 40 hour course, pass
licensing exam, apply for license, pass background check
◉Which of the following would be considered an "offer"?. Answer:
the applicant submits an application to the company with payment
◉All of the following are true about insurable risk except:
a) the loss must not be catastrophic in nature
b) the loss must be large enough to create hardship
c) the loss must not be definite and definable
d) the law of large numbers should apply. Answer: c) the loss must
not be definite and definable
◉all of the following are parts of the insurance contract except:
a) declarations
b) insuring agreements
,c) conditions
d) inclusions. Answer: d) inclusions
◉something that increases the chance of a peril occurring is known
as a(n):. Answer: hazard
◉open peril, or "all risk", forms:. Answer: name the exclusions and
limitations
◉When a person decides not to buy insurance because of the cost,
what method of handling risk has been undertaken?. Answer: risk
retention
◉the insurance industry deals with those areas of risk where the
chances of loss are:. Answer: anywhere between 0% and 100%
◉which of the following is not an element for the formation of a
valid contract?
a) consideration
b) legal purpose
c) agreement
d) incompetent parties. Answer: d) incompetent parties
, ◉Actual cash value=. Answer: replacement cost minus depreciation
◉an insurance policy is an aleatory contract, which means:. Answer:
performance depends on the occurrence of an uncertain event
◉an insured's right to seek damages from someone at-fault may be
may be transferred to the insurer under the policy's:. Answer:
subrogation clause
◉the Law of Large Numbers states that:. Answer: the more
examples used to develop a statistic, the more reliable the statistic
will be
◉Which of the following about insurance policies are true?. Answer:
policies are usually personal contracts
◉The concept of restoring the insured to approximately the same
economic position occupied before the loss is called:. Answer:
indemnity
◉which of the following is used to modify an insurance policy from
its original form?. Answer: Endorsements
