TX ADJUSTER TEST QUESTIONS
WITH VERIFIED SOLUTIONS
While investigating a claim, you determine that the loss was caused by a defective
mechanism in the dishwasher. You would attempt to_________________________? -
ANSWER-Subrogate Subrogation is the right for an insurer to legally pursue a third
party that caused an insurance loss to the insured. This is done as a means of
recovering the amount of the claim paid by the insurance carrier to the insured for the
loss.
What is the process when an insurer and an insured have a dispute regarding the
amount of damage? - ANSWER-Appraisal
__________________________________________________is a significant
misstatement in an application form. If a company had access to the correct information
at the time of application, the company might not have agreed to accept the application.
- ANSWER-Material Misrepresentation
As an adjuster, you should base depreciation on these three factors? - ANSWER-Age,
Condition and Life Expectancy
An_________________ is a person hired by the property owner to settle the claim with
insurance company on their behalf. - ANSWER-Umpire
This type of policy provides coverage only for those perils that are listed in the policy? -
ANSWER-HO-A
_________________________ are extra charges covered by homeowner's policies
over and above the policyholder's customary living expenses. - ANSWER-Additional
Living Expenses
_______________________is an event that results in an insured loss/damages? -
ANSWER-Occurrence
Name 3 things that are subject to "Special Limits of Liability" under the HO-B -
ANSWER-1. Money or Bank Cards 2. Valuable Papers, deeds, stamps BULLIONS etc.
3. Jewelry Watches or furs
Under a HO-B policy, the dwelling/structure is covered for what types of losses? -
ANSWER-Coverage A
, Under a HO-B policy, the contents are covered under what Coverage? - ANSWER-
Coverage B
List the 12 named perils that contents are covered for under the HO-B? - ANSWER-
1)Fire and Lightening, 2) Sudden and Accidental Damage from Smoke, 3) Windstorm ,
Hurricanes and Hail, 4)Explosion 5) Aircraft 6) Vandalism and Malicious Mischief 7) Riot
and Civil Commotion 8) Collapse of a building, or part of a building 9) accidental
discharge overflow of water or Steam form plumbing, heating, air conditioning, system
or household appliance 10) Falling objects, 11) Freezing, 12) theft or attempted theft
What is the maximum amount for coverage for a covered loss to a tree? - ANSWER-
$250
Your policyholder sustained a theft loss. His roommate's personal laptop, plasma
television and
Sony stereo were all stolen. What are you going to tell him regarding his roommate's
property?
(Explain your answer and cite where you found it in the policy) - ANSWER-Not Covered
Found on HO-B PG 2 Under Property
Under Section I Exclusions, what does Exclusions c. (3). Say? - ANSWER-personal
property contained in a building unless
direct force of wind or hail makes an opening in a roof or wall and rain, snow, sand or
dust enters
through this opening and causes the damage.
Your aunt is caring for a 22 year old female. Is this 22 year old female an Insured under
the
HO-B policy? - ANSWER-NO. She is OVER 21.
Your policyholder misplaced his watch somewhere in his house. The watch costs $800.
How
much are you going to pay him? - ANSWER-$0 not covered
During the storm, your policyholder's dwelling sustained 12ft of flood water. He provides
you
with receipts for his Additional Living Expenses. The expenses are all reasonable. What
do you tell
the policyholder? - ANSWER-Floods are not covered
During a recent windstorm, your policyholder's cloth awning sustains damage. The
damage to
the cloth awning is $400. How much can you pay for the cloth awning? - ANSWER-$0
not covered Found in SECTION 1 Exclusions
C1
WITH VERIFIED SOLUTIONS
While investigating a claim, you determine that the loss was caused by a defective
mechanism in the dishwasher. You would attempt to_________________________? -
ANSWER-Subrogate Subrogation is the right for an insurer to legally pursue a third
party that caused an insurance loss to the insured. This is done as a means of
recovering the amount of the claim paid by the insurance carrier to the insured for the
loss.
What is the process when an insurer and an insured have a dispute regarding the
amount of damage? - ANSWER-Appraisal
__________________________________________________is a significant
misstatement in an application form. If a company had access to the correct information
at the time of application, the company might not have agreed to accept the application.
- ANSWER-Material Misrepresentation
As an adjuster, you should base depreciation on these three factors? - ANSWER-Age,
Condition and Life Expectancy
An_________________ is a person hired by the property owner to settle the claim with
insurance company on their behalf. - ANSWER-Umpire
This type of policy provides coverage only for those perils that are listed in the policy? -
ANSWER-HO-A
_________________________ are extra charges covered by homeowner's policies
over and above the policyholder's customary living expenses. - ANSWER-Additional
Living Expenses
_______________________is an event that results in an insured loss/damages? -
ANSWER-Occurrence
Name 3 things that are subject to "Special Limits of Liability" under the HO-B -
ANSWER-1. Money or Bank Cards 2. Valuable Papers, deeds, stamps BULLIONS etc.
3. Jewelry Watches or furs
Under a HO-B policy, the dwelling/structure is covered for what types of losses? -
ANSWER-Coverage A
, Under a HO-B policy, the contents are covered under what Coverage? - ANSWER-
Coverage B
List the 12 named perils that contents are covered for under the HO-B? - ANSWER-
1)Fire and Lightening, 2) Sudden and Accidental Damage from Smoke, 3) Windstorm ,
Hurricanes and Hail, 4)Explosion 5) Aircraft 6) Vandalism and Malicious Mischief 7) Riot
and Civil Commotion 8) Collapse of a building, or part of a building 9) accidental
discharge overflow of water or Steam form plumbing, heating, air conditioning, system
or household appliance 10) Falling objects, 11) Freezing, 12) theft or attempted theft
What is the maximum amount for coverage for a covered loss to a tree? - ANSWER-
$250
Your policyholder sustained a theft loss. His roommate's personal laptop, plasma
television and
Sony stereo were all stolen. What are you going to tell him regarding his roommate's
property?
(Explain your answer and cite where you found it in the policy) - ANSWER-Not Covered
Found on HO-B PG 2 Under Property
Under Section I Exclusions, what does Exclusions c. (3). Say? - ANSWER-personal
property contained in a building unless
direct force of wind or hail makes an opening in a roof or wall and rain, snow, sand or
dust enters
through this opening and causes the damage.
Your aunt is caring for a 22 year old female. Is this 22 year old female an Insured under
the
HO-B policy? - ANSWER-NO. She is OVER 21.
Your policyholder misplaced his watch somewhere in his house. The watch costs $800.
How
much are you going to pay him? - ANSWER-$0 not covered
During the storm, your policyholder's dwelling sustained 12ft of flood water. He provides
you
with receipts for his Additional Living Expenses. The expenses are all reasonable. What
do you tell
the policyholder? - ANSWER-Floods are not covered
During a recent windstorm, your policyholder's cloth awning sustains damage. The
damage to
the cloth awning is $400. How much can you pay for the cloth awning? - ANSWER-$0
not covered Found in SECTION 1 Exclusions
C1
