ADJUSTER EXAM ARIZONA

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ADJUSTER EXAM (ARIZONA)

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -100 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: Coverage F (HO)

Answer:

Medical Payments- No fault coverage.Medical expenses incurred by third party due to an accident on insured premises. Only necessary, reasonable medical charges.1000 minimum limit.

Question 2: Dwelling Coverage D

Answer:

Fair rental value

Question 3: Professional liability coverage

Answer:

Covers lawsuit and settlement costs when a claim is made because of alleged wrongful acts.Question 4: Time Element Insurance:

Answer:

Covers an indirect loss if it can be proven that it resulted from a direct loss.

Question 5: Retroactive Date

Answer:

Insurers will specify a retroactive date which says how far back an occurrence will be covered.

Question 6: Ethic rules

Answer:

1: Disclosure

2:Equal treatment

• Avoid Prejudice

4: Truthfulness

5: Integrity

6:Diligence

7:Reporting violations

8: The elderly

9:Attorneys

10: Witnesses

11: Right to attorney

12:Traumatized claimants

13:Advising of rights

14: Release form

15:Competence

Question 7: Last Resort for Consumers

(Arizona)

Answer:

Residual Market insurance programs are considered a last resort option for consumers. They are expensive, and they often require applicants to prove that they have been rejected by a number of private insurers before issuing coverage.In other words, if an applicant can acquire the policy she needs in the "voluntary market," she will not be eligible for coverage in the involuntary market. Due to the high-risk nature of Residual Market policies, coverage is often minimal and very expensive.Question 8: Amendment of policy provisions- Arizona. includes all but: Government vehicles rental vehicles that an insured owns or uses regularly hit-and-run

Answer:

rentals

Question 9: Nonconcurrency

Answer:

the situation in which two or more policies covering the same risk have different inceptions and expiration dates.Question 10: The Employers Liability Insurance coverage which accompanies a Workers Compensation policy covers

Answer:

Damages under the doctrine of dual capacity Question 11: Negotiating a claim:

Answer:

A settlement involves explains how you calculated the settlement amount, giving a step by step justification of your decisions, and acknowledging the claimants's concerns. You should not simply escalate your claim to a supervisor when a customer disagrees with you.

Question 12: Dwelling Coverage A B C

Answer:

Covers direct loss Question 13: Coverage A: commercial property

Answer:

Building and structures

Question 14: Arbitration

Answer:

Is a dispute resolution method in which a neutral third party hears both sides of the argument and provides a legally binding decision.

Question 15: Comparative Negligence

Answer:

The settlement amount will be reduced by the percentage of their Negligence.

Question 16: Owner sustained financial loss from government confiscation:

Answer:

ocean marine- not covered.

Question 17: Laser Beam endorsement

Answer:

Allows an insurer to exclude specific types of accidents, products, work, or locations from CGL coverage.

Question 18: WCSHAVVER

Answer:

W- windstorm C- civil Commotion S- smoke H- hail A- aircraft V- vehicles V- volcanic eruption E- external explosion R- riot

Question 19: CGL FORMS

Answer:

Occurrence:Coverage triggered by occurrence or accident

Claims-Made: Coverage triggered by claim

what is a trigger? An event that initiates coverage.

Question 20: Watercraft Liability

Answer:

Specifically, this endorsement is intended for watercraft powered by motors with more than 25 horsepower and sailing vessels 26 feet or more in length.This coverage does not apply to watercraft being operated in racing activities (except for sailing vessels), craft that are being rented to others, or to craft used to carry people for a fee Question 21: CP: business income coverage form

Answer:

Provides businesses protection for loss of income due to a covered loss.Period of restoration: Time frame within which business income coverage indemnifies the policy holder for loss of income, usually 72 house after the loss up until property is fully restored.