Texas insurance adjuster unit 1-3

Question 1

agent told customers that flood is covered when it isn't &the client has a flood the insurer is liable this is an ex. of

Accepted Answer

Estoppel

Question 2

Homeowner has 2 policies insuring the home, A limit is 50,000 and B limit is 150,000. loss is 12,000 how much will A pay

Accepted Answer

3,000

Question 3

Any day other than Saturday, Sunday or holidays are known as

Accepted Answer

A business day

Question 4

insurance company is entering a new state, & wants to be considered an admitted company,what would they get from the DOI

Accepted Answer

A certificate of authority

Question 5

All of the following are unfair claims practices except

Accepted Answer

paying loss to claimant once receiving appraisal

Question 6

Who makes the decision of liability?

Accepted Answer

Adjuster

Question 7

All of the following are required of a person to become an adjuster except

Accepted Answer

know the governor

Question 8

if an applicant deliberately withholds material info from the insurer, this will void the coverage and is considered

Accepted Answer

concealment

Question 9

An agent can assist the adjuster with a claim by doing all of the following except

Accepted Answer

approving payment

Question 10

all of the following must be done within 15 days of receiving the notice of claim from the insured except

Accepted Answer

Pay the claim

Question 11

Steve has passed his adjuster license exam, is he now allowed to start working?

Accepted Answer

no, his license must be issued

Question 12

All of the following would be prohibited activities by the adjuster except

Accepted Answer

explaining the claim settlement process

Question 13

What would be the consideration that the insured gives to validate an insurance contract?

Accepted Answer

Premium for policy

Question 14

a contract that could be voided if the insured doesn't completed the requirements of the insurer is known as

Accepted Answer

A conditional contract

Question 15

The contract should have a legal purpose and be consistent with public policy

Accepted Answer

Lawful objective

Question 16

If there was a catastrophic loss and the company needs staff to assist with handling claims, what license is needed?

Accepted Answer

Emergency

Question 17

Who is responsible for submitting records to the state to verify proper handling?

Accepted Answer

The insurance company

Question 18

If Bob can adjust any type of loss for his company, Bob must have what type of license?

Accepted Answer

All Lines

Question 19

What is the special level duty called that requires adjusters to properly and promptly attend to business

Accepted Answer

extraordinary fiduciary responsibility

Question 20

where do you find coverage territories in the policy

Accepted Answer

conditions

Question 21

If the insured has made a request for indemnification due to financial loss, he has

Accepted Answer

Filed a claim

Question 22

An insurance company is headquartered in France and they have a branch in TX, they are what type of insurer in TX?

Accepted Answer

An Alien insurer

Question 23

How many days does the insurer have to accept or deny the claim after it has received the proof of loss from the insured

Accepted Answer

15 business days

Question 24

According to contract law, a covenant of fair dealing and what other concept is implied in every contract?

Accepted Answer

Good faith

Question 25

When would a deceptive trade practice occur in any commercial transaction?

Accepted Answer

Seller causes provable mental anguish

Question 26

The adjuster's license requires 24 hours of continuing education every 2 years. how many hours need to be in a classroom

Accepted Answer

12

Question 27

If the company needs to predict future losses, they needed data from a large group. this is known as

Accepted Answer

the law of large numbers

Question 28

Who is responsible for the approval of the wording of the insurance policies issued in TX?

Accepted Answer

The Texas Department of Insurance

Question 29

If an adjuster forgoes policy provisions and gives the insured more time than the policy allows to submit info this is

Accepted Answer

granted a waiver

Question 30

When can an insurance company require the claimant to produce tax or financial records?

Accepted Answer

Following a total loss or fire

Question 31

If the state feels an insurance company's rates are out-of-line, what must the company do?

Accepted Answer

Justify the rates

Question 32

If the insurance company doesn't settle the claim following the terms of the contract &there is no explanation of breach

Accepted Answer

bad faith

Question 33

What is an example of a physical hazard?

Accepted Answer

Bald tires on the client's car

Question 34

adjuster is considering making a payment to a claimant that would seem to be questionable, should they make this payment

Accepted Answer

No, this payment may be considered improper

Question 35

A person who is employed by a P&C insurance company and who adjusts claims on their behalf would be considered

Accepted Answer

a staff adjuster

Question 36

Adjuster missed the renewal payment for their license 19 days after passed. What must they do in order to renew?

Accepted Answer

pay renewal fee plus 50% penalty

Question 37

Intentional, dishonest, or illegal actions of a person is an example of

Accepted Answer

a moral hazard

Question 38

company needs to have some of its new employees who are in claims to assist claims as training tool what type of license

Accepted Answer

Temporary License

Question 39

in order to be valid contract, an agreement must be consist of

Accepted Answer

An offer and an acceptance

Question 40

adjuster has the proper license to adjust losses of workers who were injured at work, what type of license do they have

Accepted Answer

Workers' Compensation

Question 41

A contract that only requires the insurer to perform would be an example of what type of contract

Accepted Answer

Unilateral

Question 42

Which of the following must adjusters know in order to perform their job duties

Accepted Answer

Rules published by various authorities

Question 43

All of the following must be present in the case of bad faith on behalf of company or adjuster except

Accepted Answer

wrongful intent

Question 44

When shopping for insurance. the major difference between the most policies for consumers is:

Accepted Answer

The price

Question 45

when you dont want to wait for at fault to pay for damage on car, seek reimbursement is called and can be found where?

Accepted Answer

subrogation, found in conditions

Question 46

Answers on the application for insurance by the applicant are considered to be

Accepted Answer

representation

Question 47

How many hrs of pre-licensing education must the adjuster candidate have inorder to obtain license from a state provider

Accepted Answer

40

Question 48

If steve goes to the mall and leaves his keys in the car, this is an example of what type of hazard

Accepted Answer

morale

Question 49

The policy has requirement that the alarm must always be on. this requirement is written into the policy and considered:

Accepted Answer

A warranty

Question 50

The insurer has how many days to acknowledge receipt of the claim form from the insured

Accepted Answer

15 days

Question 51

Kendra is walking and slips on some wet leaves on a sidewalk. She falls and breaks her arm. what is the hazard?

Accepted Answer

Wet leaves on the sidewalk

Question 52

All of the following would be considered supplementary payments in a liability policy except

Accepted Answer

injuries caused by the insured

Question 53

Who must see that the contractual promises that have been made to policyholders are honored fairly?

Accepted Answer

The adjuster

Question 54

An endorsement would be added to a policy to do all of the following except

Accepted Answer

cancel a policy

Question 55

A claim made by the insured under an insurance policy or contract or by the beneficiary named is considered

Accepted Answer

a 1st party claim

Texas insurance adjuster unit 1-3

Questions 55

Texas insurance adjuster unit 1-3

Questions 55