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ADJUSTER > Adjuster > Flashcards

Adjuster Flashcards

1
Q

which of the following phrases best defines a hazard?

A

a condition that increases the chance of a loss.

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2
Q

which of the following perils is covered by broad form perils but not covered by the basic form?

A

weight of ice and snow

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3
Q

a company’s promise to pay for damages caused by or resulting from any covered cause of loss would be be found in which of the following sections of commercial property policy?

A

insuring agreement

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4
Q

which of the following businesses would be eligible for a business owners policy?

A

a barber shop.

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5
Q

a primary obligation of an insurer is to?

A

pay the claims covered under the policy.

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6
Q

all the following options are examples of insurable Interest except

A

an individuals interest in property her parents will Sunday leave to her

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7
Q

which of the following sources may be used to provide property insurability information

A

physical inspections

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8
Q

which of the following terms best describes continuous and repeated exposure to conditions that are neither expected nor intended by the insured?

A

occurrence

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9
Q

in order to issue a written binder for a commercial property policy what is the minimum consideration a producer must secure from an applicant?

A

promise to pay premium

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10
Q

the national flood insurance program provides coverage for losses caused by all of the following occurrences except

A

water main breakage

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11
Q

which of the following statements is correct about the Fair Credit Reporting Act?

A

it provides a method for an applicant to correct any incorrect information in the credit report

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12
Q

the personal liability section of a homeowner’s policy covers which of the following options

A

bodily injury caused by the personal activities of an insured.

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13
Q

which of the following terms is defined as the uncertainty of future outcome?

A

risk

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14
Q

a building adjacent to Insurance business is severely damaged by fire. Because of the nature of the damage to the adjoining property the insured is denied access to the business by the fire department. If the insured property is covered under a business income coverage form the insurer will cover the loss of earning for a maximum of

A

30 days

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15
Q

a sudden and unexpected event that is normally identifiable as to time and place is best described as

A

an accident

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16
Q

a fire in and insured restaurant burns the kitchen walls and causes smoke damage to the entire interior. water used to extinguish the fire causes extensive damage to floors and Furnishings. The water damage is best described as?

A

a direct loss.

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17
Q

which of the following policy forms would best protect a business that must keep operating after a loss?

A

extra expense

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18
Q

information provided by the insured in a proof of loss is considered

A

a representation

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19
Q

a deer jumps through the window of an insured home damaging the interior and exterior walls which of the following homeowners forms listed below is the least comprehensive formed that will still provide coverage for this loss?

A

ho - 3 form

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20
Q

under a personal property floater a loss is covered when it occurs

A

anywhere in the world

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21
Q

which of the following statements is correct regarding proof of loss?

A

it is a sworn statement by the insured

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22
Q

which of the following coverages may be added by endorsement to a boiler and Machinery policy

A

extra expense

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23
Q

actual cash value is most often defined as which of the following options?

A

replacement cost less depreciation

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24
Q

Pro rata cancellation occurs when?

A

An insurer cancels a policy

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25
in an applicant's statement included in the insurance contract that the property to be insured has an operable sprinkler system is?
a warranty
26
the procedure for resolving a disagreement between an insured and the insurer about a loss is described in which of the following parts of an insurance policy?
insuring agreement
27
which of the following perils is covered under the commercial property basic cause of loss form
sinkhole collapse
28
the maximum amount of policy will pay in the event of a loss is called the
limit of liability
29
all of the following perils are covered under a building and personal property coverage form with a cause of loss basic form attached except
Earth movement
30
N's next door neighbor S dumps hot ashes in N's trash dumpster starting a fire and causing severe damage to N's home. N's company pays the loss and then goes after S for payment. This is an example of
subrogation
31
which of the following homeowner coverages does not generally contain a deductible
liability
32
in a commercial property form if a building is left vacant coverage for vandalism will continue for up to how many days
60
33
the principle of Indemnity is designed to avoid?
overpayment of a claim
34
an insured has an ho-3 formed when using a snowblower borrowed from a neighbor the insurance takes a large Rock and causes $2,000 worth of damage to these snowblower under what section of the policy could the payment be made on the insured's behalf
personal liability
35
inland marine insurance is commonly used to ensure all of the following
automobiles
36
a commercial property policy specifies which of the following responsibilities as a duty of the insured
to provide a sworn proof of loss statement if requested by the company
37
commercial package policy must include at least how many coverage parts
2
38
the owner operator of a computer store often leaves expensive computers balanced negligently on the edges of tables believing that any damage to the computers will be paid by the insurance policy this situation is best described as
morale hazard
39
which of the following terms can be defined as a policy provision that omits certain risks from coverage
exclusions
40
under a homeowner's policy an insured is required to take all of the following actions when a covered loss occurs except
hire an appraiser to determine the amount of loss
41
which of the following statements best describes the term abandonment as used in property insurance
an insured refusal to retain property after payment of a partial loss
42
under a ho-3 form if an insured and insurer cannot agree on the amount of a loss that company may take which of the following actions
demand an appraisal of the loss
43
all of the following parties must be certified as a appraisers except
Company CEO
44
the fact that the insurance States in an application that lasts throughout the length of the policy can be considered
a warranty
45
in a case of loss what will an insurance company replace at full value
silver
46
an appraiser should always show his license if asked to by all of the following except
Attorney General
47
once an estimate is complete the body shop has how much time to fax over the estimate
no limit of time
48
liability coverage is known as
third party coverage
49
a policy with a combined policy limit will cover
bodily injury and property damage
50
the limits of liability are found in what section of the policy
declaration
51
if DEA breaks into a house in Seasons drugs we will cover what damages
coverages will be excluded
52
what is not considered direct evidence that an insured with speeding
testimony from a witness
53
what may be used to provide insurability info
physical inspection
54
how would you describe actual cash value
replacement value less depreciation
55
what statement best describes the principle of coinsurance
insured paying part of the loss
56
a wrongful civil act best describes a
tort
57
which of the following is not covered under comprehensive coverage
collision with a tree
58
a property that is considered a total loss and has a stated value policy the maximum will be paid based on
policy limits
59
in a first-party claim how many days does the insurer have to notify whether a claim has been accepted or denied
15 days
60
Act of voluntarily neglecting withholding information from policy can be described as
concealment
61
how many days after the completion of repairs involving a first-party claim must payment be issued
30 days
62
if after a hearing the director finds that an insurer failed to cease and desist the insurer could be penalized as follows except
public censure
63
what are four things included in every policy
declaration, insuring agreement, conditions, exclusions
64
at what time does the policy become effective
12:01 a.m.
65
if an insured passes information to an insurance agent the insurance agent fails to pass all the information to the insurance company at the time of loss
insurance company will be responsible for all info given to agent
66
if two homeowners policy apply at the same time which one will pay if property is damaged
equal payments from both parties
67
what is the insurance report of date time and facts of lost called
loss notice
68
the DEA breaks into a house in seizes drugs in the door frame is damaged we will pay
nothing
69
subrogation means
the transfer to the insurance company of the insured right to collect damages from another party
70
damages awarded in court for pain and suffering are called
General
71
when property is damaged to a homeowners house it is valued at not endorsed
replacement cost basis
72
when two or more policies or coverages apply to the same lost the one that applies only after the limits of primary coverage have been exhausted is
excess insurance
73
the type of liability that is imposed by law on those participating in certain activities that are considered especially hazardous is
strict liability
74
when a person may be held responsible for the negligent acts of another person this is called
vicarious liability
75
a hurricane cause the side of a house to blow down and causes a flood under the homeowners policy what is covered
wind damage
76
in an auto policy the phrase other insurance usually applies when
two or more policies are in force and a loss occurs
77
what is a non-waiver agreement
to preserve the rights of the insured and insurer into permit in investigation of the cause of loss the investigation and ascertainment of the value without regard to liability
78
A intentionally runs over B's foot what is covered under a liability policy
nothing
79
what is the minimum liability limit for Rhode Island
25/50/25
80
the theft of all covered Auto is not covered when
stolen by a relative or any resident of your household
81
when canceling a policy by mail how many days notice must we give
30 days
82
if cancellation is for non-payment how many days notification do we need to give
30 days
83
which will be paid for
road damage to tires as a result of a theft
84
med pay coverage provides protection for all of the following except
occupants of a vehicle that is struck by the insured vehicle
85
a homeowners policy list certain perils that are covered this is at a
named peril policy
86
what is covered in a ho-3 policy that is not in a ho-4 policy
dwelling
87
if a guest were injured in your home what coverages would they qualify for under your homeowners policy
both personal and medpay
88
a bird collide with your windshield and shattered hit what coverage would this loss fall under
comprehensive
89
if an insured is struck in the rear in the other motorist is uninsured you would do the following
waive deductible for umpd
90
the insurance commissioner is responsible for the following?
inforce insurance regulations
91
what is an example of a moral hazard
embezzlement
92
what is the most important component of an adjuster's investigation
RI General statutes
93
why is a release required?
so that it doesn't put the insured at risk for any further damages
94
and insured goes to Disney rent a car and gets into an accident under Rhode Island laws what coverage applies
property damage waive deductible
95
which HO policy covers the weight of snow
HO2 policy
96
which of the following is not covered under comprehensive coverage
collision with another object
97
a warranty is a policy condition in food by
either the insurer or the insured
98
if a hurricane damages our home what coverage applies
windstorm
99
your homeowners policy will cover theft for
silver
100
the personal liability section of a homeowner's policy covers which of the following
bodily injury caused by personal activities of an insured
101
what statement best describes the principle of coinsurance
insured assisting in cost of loss
102
in the event of a loss under a personal Family Auto policy the insured is required to submit the insurance company all of the following information except
an appraisal of the damaged property
103
a commercial general liability policy provides coverage for which of the following hazards
contractual liability
104
in an application for marine Insurance a yacht owner stated that the yacht would only be sailed on Inland Waters if the insured subsequently sales the on the Seas coverage may be denied because the insured has breached what
a warranty

ADJUSTER (2 decks)

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