COLORADO PUBLIC ADJUSTER STUDY MATERIAL EXAM

PDF Download

COLORADO PUBLIC ADJUSTER STUDY MATERIAL EXAM

QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -90 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: A company's promise to pay for damage caused by or resulting from any covered Cause of Loss would be found in which of the following sections of a Commercial Property policy?

• Declarations
• Insuring Agreement
• Conditions
• Exclusions

Answer:

B Question 2: In a standard fire policy, how long does the insured have to submit a proof of loss?

• 30 days
• 60 days
• 90 days

• 30 days after request by insurer

Answer:

B Question 3: Which of the following Homeowners coverages does NOT generally contain a deductible?

• Personal property
• Other structures
• Liability
• Dwelling

Answer:

C Question 4: XYZ Insurance Company recently received its certificate of authority to sell property insurance in Illinois. XYZ is an Iowa insurer but will sell its products through its licensed Illinois producers. Which of the following statements is CORRECT about XYZ Company's involvement in the FAIR Plan?

• XYZ may not join the FAIR Plan, because it is a foreign company.
• XYZ may not join the FAIR Plan, because its producers are licensed in Illinois.
• Membership in the FAIR Plan is optional for XYZ.
• XYZ must belong to the FAIR Plan because it has a certificate of authority to sell homeowners

insurance in Illinois.

Answer:

D Question 5: In a HO ISO policy within how many years after the date of loss can an insured file suit?

• 1 year
• 2 years
• years

• 5 years

Answer:

B

Question 6: Which of the following is a synonym of theft?

• Burglary
• Perjury
• Larceny
• robbery

Answer:

C

Question 7: DP-2 is considered to be which of the following types of forms?

• special
• basic
• all-risk
• broad

Answer:

D Question 8: In order to be reimbursed for a covered loss under a Standard Fire policy in this

state, an insured MUST:

• contact an independent claims adjuster
• protect the property from further loss
• provide a proof of loss statement within ten days
• obtain a written appraisal of the damages

Answer:

B

Question 9: Special Form or Open Perils coverage:

• Provides coverage against the named perils
• Provides coverage against scheduled risks
• Is limited by the named exclusions
• Includes no exclusions

Answer:

C Question 10: An insurer that permits different rate classifications for individuals of the same

class and same hazard may be guilty of:

• boycotting
• unfair discrimination
• misrepresentation
• defamation

Answer:

B Question 11: The principle of indemnity is designed to avoid:

• two policies sharing payment for a loss
• overpayment of a claim
• the return of earned premiums
• a Coinsurance clause of less than 80 percent

Answer:

B