Tuesday, July 22, 2025 10:37:30 AM
General Adjuster Licensing Exam | Complete Study
Guide with Questions, Insurance Laws, and Claims
Scenarios 2025-2026
Policies never pay out over the ______ ______.
policy limits
Insurance contracts are modified by ________.
endorsements
Coinsurance clause
A clause added to the policy when covered claims are paid at replacement cost.
If the insured has a coinsurance requirement of 80%, and the replacement cost is $100,000, what
is the minimum coverage amount?
$80,000
A liability policy's main purpose is to?
Cover the legal obligations of the insured.
A person has a claim against a homeowner who is represented by his insurer. The person would
be the _______ to the insurer.
3rd Party.
When does coinsurance cease to operate?
When there is a total loss due to a covered peril.
Hazard
A condition that increases the chance of loss
Occurrence
An accident and a continuous or repeated exposure to the same conditions.
In whose favor is ambiguity interpreted in an insurance contract?
Insured.
If there were a dispute with the insurance company in regard to a settlement, whom would you
contact?
, Tuesday, July 22, 2025 10:37:30 AM
Appraiser.
What information is required when providing proof of loss?
Notification to insurance company of loss.
The proof of loss form contains the following information:
>date and origin of loss
>Who has insurable interest in the property.
>Value of loss
A duty of the Insurance Commissioner is
to review insurance records.
TRUE / FALSE: Reciprocity is only used for licensing.
FALSE
What is the first thing and adjuster does when a claim is received?
Examine the coverage.
An insurance company issues a liability policy:
To cover legal obligations of the insured.
Missy is on company business and injured when the taxi she was riding in hit a pole. Who would
initially pay Missy's medical bills?
Missy's employers Workers' Compensation carrier.
An insured has an automobile policy with a combined single limit of $500,000 for Bodily Injury
and Property Damage. After an accident, a court awards $300,000 and $25,000 property damage
to Claimant A, and $200,000 bodily injury and $25,000 property damage to Claimant B. In this
situation, the insurance company's limit of liability is:
$500,000
A producer adjusts claims for polices he has sold. What additional type of license(s) is/are
required for a producer to adjust his clients?
No additional license is required.
If an personal auto is involved in an accident and vehicle is a total loss. What would be
considered?
General Adjuster Licensing Exam | Complete Study
Guide with Questions, Insurance Laws, and Claims
Scenarios 2025-2026
Policies never pay out over the ______ ______.
policy limits
Insurance contracts are modified by ________.
endorsements
Coinsurance clause
A clause added to the policy when covered claims are paid at replacement cost.
If the insured has a coinsurance requirement of 80%, and the replacement cost is $100,000, what
is the minimum coverage amount?
$80,000
A liability policy's main purpose is to?
Cover the legal obligations of the insured.
A person has a claim against a homeowner who is represented by his insurer. The person would
be the _______ to the insurer.
3rd Party.
When does coinsurance cease to operate?
When there is a total loss due to a covered peril.
Hazard
A condition that increases the chance of loss
Occurrence
An accident and a continuous or repeated exposure to the same conditions.
In whose favor is ambiguity interpreted in an insurance contract?
Insured.
If there were a dispute with the insurance company in regard to a settlement, whom would you
contact?
, Tuesday, July 22, 2025 10:37:30 AM
Appraiser.
What information is required when providing proof of loss?
Notification to insurance company of loss.
The proof of loss form contains the following information:
>date and origin of loss
>Who has insurable interest in the property.
>Value of loss
A duty of the Insurance Commissioner is
to review insurance records.
TRUE / FALSE: Reciprocity is only used for licensing.
FALSE
What is the first thing and adjuster does when a claim is received?
Examine the coverage.
An insurance company issues a liability policy:
To cover legal obligations of the insured.
Missy is on company business and injured when the taxi she was riding in hit a pole. Who would
initially pay Missy's medical bills?
Missy's employers Workers' Compensation carrier.
An insured has an automobile policy with a combined single limit of $500,000 for Bodily Injury
and Property Damage. After an accident, a court awards $300,000 and $25,000 property damage
to Claimant A, and $200,000 bodily injury and $25,000 property damage to Claimant B. In this
situation, the insurance company's limit of liability is:
$500,000
A producer adjusts claims for polices he has sold. What additional type of license(s) is/are
required for a producer to adjust his clients?
No additional license is required.
If an personal auto is involved in an accident and vehicle is a total loss. What would be
considered?
