GEORGIA ADJUSTER EXAM / GA ADJUSTER EXAM 2 LATEST
VERSIONS 2023 (VERSION A & B) ACTUAL EXAM
liaison - ANSWER: communication or cooperation which facilitates a close working
relationship between people or organizations.
exemplary - ANSWER: ideal model, representing the best
fiduciary - ANSWER: trust, representation for a principal-contractor or insurance
company
Residual market (shared market) - ANSWER: auto insurance market serves drivers at
high risk that are denied coverage by insurers
3 residual markets in Georgia - ANSWER: Fair plan, Georgia AIP, Georgia Worker
Comp.
Private insurance - ANSWER: non-governmental
GA WCARP - ANSWER: Georgia worker comp assigned risk plan, its for Georgia high
risk businesses
GA fair plan - ANSWER: properties- residual or commercial. 1 year; medical 1,000
homeowner 100,000 one building 2,000,000
GA worker comp risk plan - ANSWER: businesses
GA AIP - ANSWER: Automobile; for bodily injury and property liability insurance
Georgia license registration fault claims - ANSWER: last 3 years
you can appeal to - ANSWER: the commissioner
run by state - ANSWER: commissioner and regional manager
file lawsuit for libel - ANSWER: 1 year
medical practice - ANSWER: 7th birthday
valuation - ANSWER: what a item worth
Actual Cash Value (ACV) - ANSWER: depreciation value
replacement cost - ANSWER: replacing item at market prices
, Valued Policy - ANSWER: policy that assign value to each insure item
Deductibles - ANSWER: set amount
deductibles percentage - ANSWER: pay percentage value
deductible franchise - ANSWER: insurer pays nothing, above 100%, policy kicks in
loss exceeds below
co insurance - ANSWER: 80% property value insured purchase
co insurance penalty - ANSWER: less 80% only cover percentage of loss
co insurance apply, calculating - ANSWER: value of home, minimum amount, actual
coverage, actual coverage divided co insurance require, apply penalty to partial
losses
Health insurance contract - ANSWER: evidence of coverage
co insurance payment - ANSWER: percentage of pay
out of pocket - ANSWER: deductibles-$500, co pay-$25, co insurance-%
capitation - ANSWER: pay up front for treatment
Group health insurance - ANSWER: HMO-PPO
lower insurance for employee and employers
cover regardless of health
reduce policy waiting period
2 ways- comprehensive or catastrophic insurance - ANSWER: from insurance
companies
purchase through HMO, PPO, POS
HMO - ANSWER: health maintenance organization, inside network
PPO - ANSWER: preferred provider organization, outside network
POS - ANSWER: Point of Service, combine HMO and PPO
drawbacks - ANSWER: expensive, deny coverage, pre existing conditions, no longer
deny, affordable care act
PPO advantages - ANSWER: low cost
more out of pocket
choose own medical care
both non-hospital and PPO hospital
VERSIONS 2023 (VERSION A & B) ACTUAL EXAM
liaison - ANSWER: communication or cooperation which facilitates a close working
relationship between people or organizations.
exemplary - ANSWER: ideal model, representing the best
fiduciary - ANSWER: trust, representation for a principal-contractor or insurance
company
Residual market (shared market) - ANSWER: auto insurance market serves drivers at
high risk that are denied coverage by insurers
3 residual markets in Georgia - ANSWER: Fair plan, Georgia AIP, Georgia Worker
Comp.
Private insurance - ANSWER: non-governmental
GA WCARP - ANSWER: Georgia worker comp assigned risk plan, its for Georgia high
risk businesses
GA fair plan - ANSWER: properties- residual or commercial. 1 year; medical 1,000
homeowner 100,000 one building 2,000,000
GA worker comp risk plan - ANSWER: businesses
GA AIP - ANSWER: Automobile; for bodily injury and property liability insurance
Georgia license registration fault claims - ANSWER: last 3 years
you can appeal to - ANSWER: the commissioner
run by state - ANSWER: commissioner and regional manager
file lawsuit for libel - ANSWER: 1 year
medical practice - ANSWER: 7th birthday
valuation - ANSWER: what a item worth
Actual Cash Value (ACV) - ANSWER: depreciation value
replacement cost - ANSWER: replacing item at market prices
, Valued Policy - ANSWER: policy that assign value to each insure item
Deductibles - ANSWER: set amount
deductibles percentage - ANSWER: pay percentage value
deductible franchise - ANSWER: insurer pays nothing, above 100%, policy kicks in
loss exceeds below
co insurance - ANSWER: 80% property value insured purchase
co insurance penalty - ANSWER: less 80% only cover percentage of loss
co insurance apply, calculating - ANSWER: value of home, minimum amount, actual
coverage, actual coverage divided co insurance require, apply penalty to partial
losses
Health insurance contract - ANSWER: evidence of coverage
co insurance payment - ANSWER: percentage of pay
out of pocket - ANSWER: deductibles-$500, co pay-$25, co insurance-%
capitation - ANSWER: pay up front for treatment
Group health insurance - ANSWER: HMO-PPO
lower insurance for employee and employers
cover regardless of health
reduce policy waiting period
2 ways- comprehensive or catastrophic insurance - ANSWER: from insurance
companies
purchase through HMO, PPO, POS
HMO - ANSWER: health maintenance organization, inside network
PPO - ANSWER: preferred provider organization, outside network
POS - ANSWER: Point of Service, combine HMO and PPO
drawbacks - ANSWER: expensive, deny coverage, pre existing conditions, no longer
deny, affordable care act
PPO advantages - ANSWER: low cost
more out of pocket
choose own medical care
both non-hospital and PPO hospital
