Adjuster Pro - Insurance Adjuster Test: insurance
Adjuster Test Study Guide: Questions & Answers:
Updated Solution
What type of insurer sell shares to the public and is owned by its share holders? -
ANSWERstock insurance company
Ronald always drives with his windows rolled down because he loves the feeling of
the wind in his hair however he often forgets to roll his windows up when he gets
out of the car of course this behavior makes it easier for thieves to steal his
belongings from the car but Ronald can't help from being forgetful Ronald's behavior
would be considered a - ANSWERmorale hazard
Which one of the following is not an essential section that's included in every
insurance policy - ANSWEREndorsements
Donovan is f filling out an application for health insurance and he comes to a
question about his use of tobacco products. Why does his insurance company want
to know about Donovan's tobacco use - ANSWERTobacco use is a hazard
As Jonathan was driving through an intersection and another driver ran a red light
and crashed into the side of Jonathan's car which calls significant physical damage
Jonathan must now rent a car while his is being repaired the collision with the other
driver would be considered a/an - ANSWERperil
A hell storm moves over Aaron's restaurant large hail stones break through a skylight
and water pours and damaging the floor in the restaurant additionally the electrical
system shorts Alan Aaron has the clothes for three days the hail would be considered
- ANSWERThe proximate cause of the loss
A predefined monetary portion of an insurance claim paid by a policyholder is a -
ANSWERDeductible
Flora is driving in the rain when she skids off the road and slams into cams billboard
totaling her car and causing 2000 in damage to the billboard flora has an auto policy
with ABC insurance cam files a third-party claim and ABC insurance pays him 1500
for the billboard which of the following is true - ANSWERCam may sue Flora for $500
Francis lives in a nice house valued at $300,000 he is fully insured and his
homeowners policy has a $500 fix deductible for fire and hail damage and a 3%
deductible for all other perils including wind damage one evening a massive storm
hits and blows the roof off Francis home the cost to repair the roof will be $22,000
how much of the cost will the insurer cover - ANSWER13,000
Frank purchases a homeowners policy worth $700,000 with a 4% deductible a few
months later a heavy hell storm destroys his roof porch and windows causing 50,000
, in damages frank should expect __________ from the insurance company to pay for
the damages - ANSWER22,000
Marcel's home is valued at $495,000 and he carries a homeowners policy with a limit
of $400,000 in a 2% deductible during an ice storm the weight of the ice on a tree in
Marcel's front yard caused a large limb to break off and fall on his house causing
$27,200 in damage how much for Marcel receiving his settlement for this claim -
ANSWER19,200
Which of the following statements about insurable interest is false - ANSWERDean
has insurable interest in the cities power transformer that supplies power to the
homes on history because the damage to the transformer would leave Dean without
power.
Linda's home is worth $525,000 she has a homeowners policy with a $500,000 limit
and a 1.5% deductible when Linda's husband says their kitchen on fire while frying a
turkey he accidentally causes $36,000 in damages how much can Linda and her
husband expect to receive in their settlement - ANSWER28,500
Which of the following is the easiest and least costly option
Litigation, mediation, adjuster/claimant negotiation, arbiration -
ANSWERadjuster/claimant negotiation
A hell storm damage Jim's roof and windows the adjuster find the total and cover
damages to be $13,000 but James is convinced that he should be covered up to
$25,000 direct adjuster/climate negotiation will probably not be possible in this
situation because - ANSWERDifference between the two dollar amounts is too great
When a storm roll through town a month ago John's home suffered substantial
damage he filed a claim by his insurer has offered a settlement much lower than
John feel despair each party selects an appraiser who intern agrees on an umpire to
help settle the claim if two of the three parties agree their decision is -
ANSWERBinding
All of the following scenarios may be covered under a liability insurance policy
except:
A driver T-bones another driver in an intersection
A home owner son breaks her window with a baseball while playing in the backyard
A customer in just a piece of glass while eating at a restaurant
A cable service technician falls through the ceiling while running a new wire in a
customers attic - ANSWERa homeowners son breaks her window with a baseball
while playing in the back yard
Adjuster Test Study Guide: Questions & Answers:
Updated Solution
What type of insurer sell shares to the public and is owned by its share holders? -
ANSWERstock insurance company
Ronald always drives with his windows rolled down because he loves the feeling of
the wind in his hair however he often forgets to roll his windows up when he gets
out of the car of course this behavior makes it easier for thieves to steal his
belongings from the car but Ronald can't help from being forgetful Ronald's behavior
would be considered a - ANSWERmorale hazard
Which one of the following is not an essential section that's included in every
insurance policy - ANSWEREndorsements
Donovan is f filling out an application for health insurance and he comes to a
question about his use of tobacco products. Why does his insurance company want
to know about Donovan's tobacco use - ANSWERTobacco use is a hazard
As Jonathan was driving through an intersection and another driver ran a red light
and crashed into the side of Jonathan's car which calls significant physical damage
Jonathan must now rent a car while his is being repaired the collision with the other
driver would be considered a/an - ANSWERperil
A hell storm moves over Aaron's restaurant large hail stones break through a skylight
and water pours and damaging the floor in the restaurant additionally the electrical
system shorts Alan Aaron has the clothes for three days the hail would be considered
- ANSWERThe proximate cause of the loss
A predefined monetary portion of an insurance claim paid by a policyholder is a -
ANSWERDeductible
Flora is driving in the rain when she skids off the road and slams into cams billboard
totaling her car and causing 2000 in damage to the billboard flora has an auto policy
with ABC insurance cam files a third-party claim and ABC insurance pays him 1500
for the billboard which of the following is true - ANSWERCam may sue Flora for $500
Francis lives in a nice house valued at $300,000 he is fully insured and his
homeowners policy has a $500 fix deductible for fire and hail damage and a 3%
deductible for all other perils including wind damage one evening a massive storm
hits and blows the roof off Francis home the cost to repair the roof will be $22,000
how much of the cost will the insurer cover - ANSWER13,000
Frank purchases a homeowners policy worth $700,000 with a 4% deductible a few
months later a heavy hell storm destroys his roof porch and windows causing 50,000
, in damages frank should expect __________ from the insurance company to pay for
the damages - ANSWER22,000
Marcel's home is valued at $495,000 and he carries a homeowners policy with a limit
of $400,000 in a 2% deductible during an ice storm the weight of the ice on a tree in
Marcel's front yard caused a large limb to break off and fall on his house causing
$27,200 in damage how much for Marcel receiving his settlement for this claim -
ANSWER19,200
Which of the following statements about insurable interest is false - ANSWERDean
has insurable interest in the cities power transformer that supplies power to the
homes on history because the damage to the transformer would leave Dean without
power.
Linda's home is worth $525,000 she has a homeowners policy with a $500,000 limit
and a 1.5% deductible when Linda's husband says their kitchen on fire while frying a
turkey he accidentally causes $36,000 in damages how much can Linda and her
husband expect to receive in their settlement - ANSWER28,500
Which of the following is the easiest and least costly option
Litigation, mediation, adjuster/claimant negotiation, arbiration -
ANSWERadjuster/claimant negotiation
A hell storm damage Jim's roof and windows the adjuster find the total and cover
damages to be $13,000 but James is convinced that he should be covered up to
$25,000 direct adjuster/climate negotiation will probably not be possible in this
situation because - ANSWERDifference between the two dollar amounts is too great
When a storm roll through town a month ago John's home suffered substantial
damage he filed a claim by his insurer has offered a settlement much lower than
John feel despair each party selects an appraiser who intern agrees on an umpire to
help settle the claim if two of the three parties agree their decision is -
ANSWERBinding
All of the following scenarios may be covered under a liability insurance policy
except:
A driver T-bones another driver in an intersection
A home owner son breaks her window with a baseball while playing in the backyard
A customer in just a piece of glass while eating at a restaurant
A cable service technician falls through the ceiling while running a new wire in a
customers attic - ANSWERa homeowners son breaks her window with a baseball
while playing in the back yard
