Illinois Public Adjuster Exam Questions
and Answers Graded A+
Class 4 felony - Correct answer-Any person misappropriating or converting any
monies collected as a public adjuster, whether license or not, will be guilty of a -
Contract between Public Adjuster and Insured - Correct answer-Must include:
names and license number of the public adjuster
effective date of use
formatted in no less than 10 font; full name of the person signing the contact, form
number and edition of the form must be on the lower left hand corner for it to be
approved,
home state, business address and phone number,
the title "Public Adjuster Contract" printed at the head of the contract form
Insureds: full name, street address, insurance company name, and policy number
A description of loss & it's location
description of services to be provided to the insured
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, A place for the signatures of the public adjuster and the insured
The date and time the contract was signed by the adjuster and the insured.
Attestation language stating that the public adjuster is fully bonded as required by
state law
Disclosure of full salary, fee, commission, compensation/ considerations the public
adjuster is to receive for services
Notices that must be included in contract between PA & insured - Correct answer--
Any public adjuster contract will be voidable for 5 business days after execution at
the option of the insured
- any contract with a public adjuster that is executed within the five day period
after the loss producing occurrence is voidable for 10 days after execution
- if the insurer pays or commits in writing to pay the policy limit within five
business days after the date of the loss is reported to the insurance company the
public adjuster will not receive a commission, only compensation for services
provided
right to rescind the contract - Correct answer-If the insured exercises the right to
resend the contract anything of value given by the insured under the contract must
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
and Answers Graded A+
Class 4 felony - Correct answer-Any person misappropriating or converting any
monies collected as a public adjuster, whether license or not, will be guilty of a -
Contract between Public Adjuster and Insured - Correct answer-Must include:
names and license number of the public adjuster
effective date of use
formatted in no less than 10 font; full name of the person signing the contact, form
number and edition of the form must be on the lower left hand corner for it to be
approved,
home state, business address and phone number,
the title "Public Adjuster Contract" printed at the head of the contract form
Insureds: full name, street address, insurance company name, and policy number
A description of loss & it's location
description of services to be provided to the insured
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, A place for the signatures of the public adjuster and the insured
The date and time the contract was signed by the adjuster and the insured.
Attestation language stating that the public adjuster is fully bonded as required by
state law
Disclosure of full salary, fee, commission, compensation/ considerations the public
adjuster is to receive for services
Notices that must be included in contract between PA & insured - Correct answer--
Any public adjuster contract will be voidable for 5 business days after execution at
the option of the insured
- any contract with a public adjuster that is executed within the five day period
after the loss producing occurrence is voidable for 10 days after execution
- if the insurer pays or commits in writing to pay the policy limit within five
business days after the date of the loss is reported to the insurance company the
public adjuster will not receive a commission, only compensation for services
provided
right to rescind the contract - Correct answer-If the insured exercises the right to
resend the contract anything of value given by the insured under the contract must
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
