Claims Adjuster Final Multiple Choice Questions Questions With

Claims Adjuster Final (Multiple Choice Questions) Questions With
An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of - correct
answer...The insured and insurer
An insurer gives which of the following as Consideration for an insurance policy? -
correct answer...A Promise
The interest of the insured and all other persons in the property involved in a claim is
found in - correct answer...A Proof of Loss
An insured rear-ends another driver's vehicle. The auto policy that pays damages to
repair the damaged vehicle is a _______? - correct answer...Liability Policy
Your insurance company wrote an auto insurance binder for an owner who said that he
did not have any prior accidents. Immediately thereafter it was discovered that he did
not
tell the truth. The company now wants to cancel the binder as quickly as possible. What
is true? - correct answer...5 days notice required
For insurance to pay damages, an insurable interest must exist: - correct
answer...When the loss takes place
Texting while driving is best described as a: - correct answer...Hazard
A covered loss is $90,000. Policy A has a limit of $100,000. Policy B has a limit of
$200,000. Both policies are pro-rata policies. How much will policy B pay for this loss? -
correct answer...$60,000
I sold my home yesterday, signed a deed and transferred title. Last night there was a
house fire. I had not yet cancelled my homeowner's insurance. The purchaser also had
a
homeowner's policy. Which policy should pay to pay the claim? - correct
answer...Purchaser's policy
Giving prompt notice of loss is best described as a policy: - correct answer...Condition
If there is a total loss by an insured peril to a FL building, the insurer must pay: - correct
answer... Cash Value