Social Science Business Insurance
Oklahoma Adjuster License
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A 100-year flood is an example of which of the following Static risk
types of risk?
Static risk factors tend to be associated with long term risk, such as an area that
may only flood every 100 years.
Abandonment Clause A clause often contained in property insurance policies stating that the insured
cannot abandon damaged property to the insurer and demand to be reimbursed
for its full value.
Accidental Discharge Any unexpected discharge that is the result of a mechanical failure of the weapon
or ammunition.
Accident vs. Occurrence * Accident - sudden, unplanned and unexpected event resulting in injury or
damage
* Occurrence - includes losses caused by continuous or repeated exposure to
conditions resulting from injury or property damage
According to the Oklahoma insurance code a foreign Under the laws of a state other than Oklahoma
insurer is organized:
According to the Oklahoma insurance code a foreign insurer is organized under
the laws of a state other than Oklahoma.
According to the Oklahoma Workers' Compensation Act, They do not operate motorized machines
an agricultural worker is not considered an "employee" if:
According to the Oklahoma Workers' Compensation Act, 60 days
a request for vocational rehabilitation services must be
filed with the Commission not later than _______ from the When an injured employee receives a disability rating of "permanent", they must
date of receiving permanent disability status. file a request for vocational rehabilitation services within 60 days if they would like
to receive those services.
, Accounts Receivable Coverage Form Coverage provides insurance when the insured's business records are destroyed
in a loss caused by a covered peril, and the business is unable to collect money
it's owed.
Accounts Receivable coverage form Coverage provides insurance when the insured's business records are destroyed
in a loss caused by a covered peril, and the business is unable to collect money
it's owed.
Actual Cash Value (ACV) replacement cost less depreciation
Actual cash value is defined more recently as Market saturation
"replacement cost less a deduction that reflects" all of the
following, EXCEPT: Market saturation is not one of the factors in determining actual cash value.
Actual total loss destroyed beyond repair
The ACV settlement under a property insurance policy By establishing the value of the property using any evidence a court finds relevant
may be determined using "broad evidence rule", which
means that the loss is valued: The broad evidence rule takes different methods of valuation into consideration,
most often "fair market value" is included in making the determination of the ACV
of damaged or destroyed property.
Adam is an Oklahoma worker who was injured on the job 70%
and is eligible to receive permanent total disability
benefits. These benefits will be calculated at _____ of his
average weekly wage.
Adjuster Firm a firm, partnership, association, or company that holds an adjuster license
An adjuster licensed in Oklahoma who does not comply A fine of not more than $5,000
with the mandated continuing education requirements
may be subject to all of the following, EXCEPT: A fine of not more than $5,000 is NOT imposed on an Oklahoma adjuster for not
complying with continuing education requirements.
Adjusters in Oklahoma who engage in the investigation, Company or staff adjusters
adjustment, and negotiation of claims as salaried
employees of an insurer are called: The Oklahoma insurance code specifies that adjusters who engage in the
investigation, adjustment, and negotiation of claims as salaried employees of an
insurer are called company or staff adjusters.
Adjusters may receive a nonresident adjuster license in • They have passed the state licensing examination in their own home state;
Oklahoma if: • They are currently licensed in good standing in their home state;
• They have submitted the required request for licensure and paid the fees; and
• The applicant's home state aw
An adjuster, who was subject to examination and is now 90 days.
licensed in his home state, is moving to Oklahoma. The
adjuster is not required to take the licensing examination
to become a resident adjuster if he applies for the license
within ______ after establishing legal residence in
Oklahoma.
Oklahoma Adjuster License
Save
Students also studied
Property and Casualty Oregon Stat... Oklahoma Adjuster Exam #2 Oregon Adjusters license Correc
315 terms Teacher 249 terms 22 terms 36 terms
jordan_marie_young Preview EkaetteU Preview Sean_Peck6 Preview Rac
A 100-year flood is an example of which of the following Static risk
types of risk?
Static risk factors tend to be associated with long term risk, such as an area that
may only flood every 100 years.
Abandonment Clause A clause often contained in property insurance policies stating that the insured
cannot abandon damaged property to the insurer and demand to be reimbursed
for its full value.
Accidental Discharge Any unexpected discharge that is the result of a mechanical failure of the weapon
or ammunition.
Accident vs. Occurrence * Accident - sudden, unplanned and unexpected event resulting in injury or
damage
* Occurrence - includes losses caused by continuous or repeated exposure to
conditions resulting from injury or property damage
According to the Oklahoma insurance code a foreign Under the laws of a state other than Oklahoma
insurer is organized:
According to the Oklahoma insurance code a foreign insurer is organized under
the laws of a state other than Oklahoma.
According to the Oklahoma Workers' Compensation Act, They do not operate motorized machines
an agricultural worker is not considered an "employee" if:
According to the Oklahoma Workers' Compensation Act, 60 days
a request for vocational rehabilitation services must be
filed with the Commission not later than _______ from the When an injured employee receives a disability rating of "permanent", they must
date of receiving permanent disability status. file a request for vocational rehabilitation services within 60 days if they would like
to receive those services.
, Accounts Receivable Coverage Form Coverage provides insurance when the insured's business records are destroyed
in a loss caused by a covered peril, and the business is unable to collect money
it's owed.
Accounts Receivable coverage form Coverage provides insurance when the insured's business records are destroyed
in a loss caused by a covered peril, and the business is unable to collect money
it's owed.
Actual Cash Value (ACV) replacement cost less depreciation
Actual cash value is defined more recently as Market saturation
"replacement cost less a deduction that reflects" all of the
following, EXCEPT: Market saturation is not one of the factors in determining actual cash value.
Actual total loss destroyed beyond repair
The ACV settlement under a property insurance policy By establishing the value of the property using any evidence a court finds relevant
may be determined using "broad evidence rule", which
means that the loss is valued: The broad evidence rule takes different methods of valuation into consideration,
most often "fair market value" is included in making the determination of the ACV
of damaged or destroyed property.
Adam is an Oklahoma worker who was injured on the job 70%
and is eligible to receive permanent total disability
benefits. These benefits will be calculated at _____ of his
average weekly wage.
Adjuster Firm a firm, partnership, association, or company that holds an adjuster license
An adjuster licensed in Oklahoma who does not comply A fine of not more than $5,000
with the mandated continuing education requirements
may be subject to all of the following, EXCEPT: A fine of not more than $5,000 is NOT imposed on an Oklahoma adjuster for not
complying with continuing education requirements.
Adjusters in Oklahoma who engage in the investigation, Company or staff adjusters
adjustment, and negotiation of claims as salaried
employees of an insurer are called: The Oklahoma insurance code specifies that adjusters who engage in the
investigation, adjustment, and negotiation of claims as salaried employees of an
insurer are called company or staff adjusters.
Adjusters may receive a nonresident adjuster license in • They have passed the state licensing examination in their own home state;
Oklahoma if: • They are currently licensed in good standing in their home state;
• They have submitted the required request for licensure and paid the fees; and
• The applicant's home state aw
An adjuster, who was subject to examination and is now 90 days.
licensed in his home state, is moving to Oklahoma. The
adjuster is not required to take the licensing examination
to become a resident adjuster if he applies for the license
within ______ after establishing legal residence in
Oklahoma.
