FREE INSURANCE AND STUDY GAMES ABOUT AZ

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FREE INSURANCE AND STUDY GAMES ABOUT AZ

INSURANCE REGS EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -51 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: The insurer must notify the insured at least __ days prior to the expiration date of the insurer's intent to not renew the policy. If the insured is not notified accordingly, the insurer must renew based on current applicable rates.

Answer:

30 Question 2: To be licensed as an adjuster the applicant shall meet all of the following

qualifications:

• Be a person who is at least ___ years of age.

Answer:

eighteen Question 3: All claims in Arizona must be paid within _____ days from the notice and proof of loss.

Answer:

30

Question 4: Insurers shall acknowledge receipt of a claim within _____ days.

Answer:

10 Question 5: True or False- By definition, Any motor vehicle with a load capacity of more than fifteen hundred pounds is not considered a Motor Vehicle.

Answer:

TRUE Question 6: Insurers shall not require a claimant to travel _____ either to inspect a replacement automobile, to obtain a repair estimate or to have the automobile repaired at a specific repair shop.

Answer:

unreasonably Question 7: If the insurer needs more time to determine whether a first party claim should be accepted or denied, it shall also notify the first party claimant within __ working days after receipt of the proofs of loss, giving the reasons more time is needed.

Answer:

15 Question 8: In the event of nonrenewal based on condition of the premises, the insured shall be given __ days notice to remedy the identified conditions.

Answer:

30 Question 9: Insurance companies are required by law to maintain all complaints against the company at all times for a period of no less than ___ years.

Answer:

three Question 10: An appropriate reply shall be made within __ working days on all other pertinent communications from a claimant which reasonably suggest that a response is expected.

Answer:

10

Question 11: Coverage that guarantees to pay the full cost of replacing the dwelling is called?

Answer:

Guaranteed Replacement Cost Question 12: Every insurer shall complete investigation of a claim within __ days after notification of claim, unless such investigation cannot reasonably be completed within such time.

Answer:

30 Question 13: The ____ _ _____ has final say whether a settlement practice is unfair, unethical, or unjustified.

Answer:

Commissioner of Insurance Question 14: Within __ working days after receipt by the insurer of properly executed proofs of loss, the first party claimant shall be advised of the acceptance or denial of the claim by the insurer.

Answer:

15 Question 15: insurers and adjusters must provide full and honest ____ of pertinent policy coverages and adhere to them as prescribed in the policy.

Answer:

disclosure Question 16: Any first party claim not paid within __ days after the receipt of an acceptable proof of loss by the insurer which contains all information necessary for claim adjudication shall be required to pay interest.

Answer:

30 Question 17: An authorized insurer shall issue at least ___ motor vehicle insurance identification cards for a motor vehicle or automobile liability policy that meets the requirements .

Answer:

two

Question 18: If the investigation remains incomplete, the insurer shall, __ days from the date of the initial notification and every __ days thereafter, send to such claimant a letter setting forth the reasons additional time is needed for investigation.

Answer:

45 Question 19: After a policy has been in effect for ___ days or, if the policy is a renewal, effective immediately, the policy cannot be cancelled unless a specific set of circumstances occurs:

Answer:

sixty Question 20: A license that is issued or renewed expires quadrennially as follows:

• For an individual, the license expires on the ____ day of the birth month that falls more than 3

years but less than 4 years from licensure.

Answer:

last Question 21: In order to operate a motor vehicle in the state of Arizona, you must carry minimum ___ ____ coverage.

Answer:

liability insurance Question 22: insurance companies cannot make a habit of "_____" its policyholders, who then in turn must fight insurance companies in court to recover the proper amount of damages.

Answer:

lowballing Question 23: This policy provides for Broad Theft Protection which covers the theft of clothing, furniture, appliances - any personal property of yours that is not part of the dwelling structure - if it is stolen from your home.

Answer:

The Homeowners Plus Endorsement Policy