Public Adjuster Exam Questions With Correct Answers

Public Adjuster Exam Questions With
Correct Answers

Public Adjuster - CORRECT ANSWER✔✔-Person, partnership, that represents the
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public as an adjuster of claims
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Days to rescind a contract - CORRECT ANSWER✔✔-3 calendar days
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Public Adjuster minimum standards - CORRECT ANSWER✔✔-Title must read
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Public Adjuster contract
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Name phone number address and business name of Adjuster
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Address of the insured and name
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Percentage of the payments received
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execution date and signatures
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right to cancel
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How can an adjuster collect his fee? - CORRECT ANSWER✔✔-a percentage of
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each check, not the lump sum
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,Are late fees or collection costs prohibited? - CORRECT ANSWER✔✔-Yes
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Refund payments, return instruments, and take necessary actions under contract
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- CORRECT ANSWER✔✔-15 working days
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Notify an insurer of contract execution, communicate in writing, reply to written
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communication from an insurer - CORRECT ANSWER✔✔-2 business days| | | | | | | |




Acknowledge receipt of a claim - CORRECT ANSWER✔✔-10 working days
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Provide claim forms and reasonable assistance - CORRECT ANSWER✔✔-10
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working days |




Respond to an insurance department inquiry - CORRECT ANSWER✔✔-15 working
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days


Complete investigation - CORRECT ANSWER✔✔-30 working days
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accept or deny a claim after proof of loss is executed - CORRECT ANSWER✔✔-15
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working days |




Elements of a contract - CORRECT ANSWER✔✔-Agreement, Consideration,
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Competent Parties, Legal purpose | | |

, Contract of Adhesion - CORRECT ANSWER✔✔-No opportunity to change, must be
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adhered to
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Aleatory Contracts - CORRECT ANSWER✔✔-Based upon the occurrence of a
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future event of unequal bargaining value
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Personal Contract - CORRECT ANSWER✔✔-Highest degree of good faith
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Unilateral contract - CORRECT ANSWER✔✔-Act exchanged for a promise
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Conditional Contract - CORRECT ANSWER✔✔-contingent upon certain acts by the
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insured
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Ambiguities - CORRECT ANSWER✔✔-not being clear, goes against the insurance
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company


Indemnity - CORRECT ANSWER✔✔-Principle of restoring the extent of the loss
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Subrogation - CORRECT ANSWER✔✔-going after the third party's negligence
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Material misrepresentation - CORRECT ANSWER✔✔-can reject coverage
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Warranties - CORRECT ANSWER✔✔-Affirmative, Promissory, Implied
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