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University of Georgia
(Risk Management and Insurance Program)
State Insurance Claims Adjusters Certification
Georgia Claims Adjuster Exam
Course Title and Number: Claims Adjuster Exam Exam Title: Board Exam Exam Date: Exam 2024- 2025 Instructor: [Insert Instructor’s Name] Student Name: [Insert Student’s Name] Student ID: [Insert Student ID]
Examination
180 minutes Instructions:
**1. Read each question carefully.
- Answer all questions.
- Use the provided answer sheet to mark your responses.
- Ensure all answers are final before submitting the exam.
- Please answer each question below and click Submit when you have** **completed the Exam.
- This test has a time limit, The test will save and submit automatically** **when the time expires
- This is Exam which will assess your knowledge on the course Learning** Resources.
Good Luck!
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State Insurance Claims Adjusters Certification 2024- Georgia G.A Adjuster Exam Review Questions and Correct Answers | 100% Pass Guaranteed | Graded A+ | Read All Instructions Carefully and Answer All the Questions Correctly Good Luck: - depending on unknown future events, example: Paul can pay premiums for years without filing a claim, or he could have a claim the first month of coverage: it is up to chance. Insurer only have to pay when losses occur. Throwing the dice. - =Answer>> Aleatory The insurer is responsible for the terms of the contract. The insured have no wordings. Bobby agrees to HFD insurance standard homeowner's policy. Bobby made a claim, and HFD insurance denied the claim. But Bobby found ambiguity in the policy provisions, so the dispute with the insurer was resolved in his favor. - =Answer>> Adhesion In a insurance contract: the insurer has an obligation to pay for covered losses. It's like the insurer make a promise. The insured has no obligation he can stop paying premiums. - =Answer>> Unilateral PIP - =Answer>> no matter whose fault, fewer lawsuits, first party, quick reimbursements, covers all member even on bus, 80% medical bills, 60% lost wages, in home caregiver, death benefits LAS - =Answer>> life, accident, sickness Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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wages loss-$ TPD- 2/3 of $300= - =Answer>> $ Death benefit - =Answer>> max 230,000, funeral 7, HO-5 - =Answer>> comprehensive form-all peril coverage for both structure/contents HO-6 - =Answer>> Condo form, named peril for finished surfaces and owner's belongings HO-8 - =Answer>> (modified coverage form) designed for older homes crop yield - =Answer>> actual crop crop hail - =Answer>> acreage flood plain - =Answer>> map out area national resource conservation service - =Answer>> federal agency that works with private landowners, operators to help protect their natural resources private crop insurance - =Answer>> does not fall under federal crop insurance program national crop insurance services - =Answer>> non profit international organization in statistical data analysis Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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national center for agricultural law research and information - =Answer>> Independent agricultural and food law research and information center created to address the complex legal issues affecting American agriculture. DICE - =Answer>> Declarations, Insuring Agreement,Conditions, Exclusions The insurer must only honor the contract if the insured meets certain conditions. - =Answer>> Conditional The insured person is protected from losses, not the covered property. - =Answer>> Personal Both parties must act honestly and openly in order for the contract to be valid. - =Answer>> Utmost Good Faith liaison - =Answer>> communication or cooperation which facilitates a close working relationship between people or organizations. exemplary - =Answer>> ideal model, representing the best fiduciary - =Answer>> trust, representation for a principal- contractor or insurance company Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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medical practice - =Answer>> 7th birthday valuation - =Answer>> what a item worth Actual Cash Value (ACV) - =Answer>> depreciation value replacement cost - =Answer>> replacing item at market prices Valued Policy - =Answer>> policy that assign value to each insure item Deductibles - =Answer>> set amount deductibles percentage - =Answer>> pay percentage value deductible franchise - =Answer>> insurer pays nothing, above 100%, policy kicks in loss exceeds below co insurance - =Answer>> 80% property value insured purchase co insurance penalty - =Answer>> less 80% only cover percentage of loss co insurance apply, calculating - =Answer>> value of home, minimum amount, actual coverage, actual coverage divided co insurance require, apply penalty to partial losses Health insurance contract - =Answer>> evidence of coverage co insurance payment - =Answer>> percentage of pay Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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out of pocket - =Answer>> deductibles-$500, co pay-$25, co insurance-% capitation - =Answer>> pay up front for treatment Group health insurance - =Answer>> HMO-PPO lower insurance for employee and employers cover regardless of health reduce policy waiting period 2 ways- comprehensive or catastrophic insurance - =Answer>> from insurance companies purchase through HMO, PPO, POS HMO - =Answer>> health maintenance organization, inside network PPO - =Answer>> preferred provider organization, outside network POS - =Answer>> Point of Service, combine HMO and PPO drawbacks - =Answer>> expensive, deny coverage, pre existing conditions, no longer deny, affordable care act PPO advantages - =Answer>> low cost more out of pocket choose own medical care both non-hospital and PPO hospital Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Optionally Renewable - =Answer>> expiration can continue, or renew, or cancel guaranteed renewable - =Answer>> certain age or increase premiums national association insurance commissioner - =Answer>> non profit, harmonize state laws and regulations. insurance fire safety commissioner - =Answer>> elected position 4 years appoint duties works with attorney general no financial interest commissioner can - =Answer>> fine up to $5, 3 classes of insurers - =Answer>> domestic (Georgia), Foreign (out of State), Alien (international) Types of Admitted insurers - =Answer>> Mutual, Farmers Mutual, Reciprocal, Hospital Service-nonprofit, Stock, Fraternal Benefit Societies, Lloyd's Association, Nonprofit Medical Services Certificate of Authority (GA) - =Answer>> insurance laws, financially sound, claimants their due, provide access and information renewal, final judgements 30 days If insurer does not follow - =Answer>> refuse, revoke, replace Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Solvency - =Answer>> ability to maintain funds, assets, money insolvency - =Answer>> inability to pay GA insolvency pool act- 3 accounts - =Answer>> auto, worker compensation, all other insurance account (2) guaranty associations - =Answer>> property and casualty life and health for 90 days Steps if insurance companies go broke - =Answer>> surety and guarantor steps in if default Rating system - =Answer>> risk management, technique may charge higher premiums Aviation Risk Pool - =Answer>> Insurance pool-small (less insurance) but risk is huge- ( cost effect-accident) large sum of money paid out hull coverage (ocean marine insurance) - =Answer>> protects against the loss or damage to ship or equipment, (aircraft) aircraft insurance liability coverage - =Answer>> ground or flight, not in motion 3 types of liability coverage (aircraft) - =Answer>> bodily injuries excluding passengers, passenger bodily injuries, property damage Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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DP-3 - =Answer>> All peril policy-Special damage from animals cracks, foundation, wall, floors, settling, shrinkage, bulging, wind and hail-antenna, lawns, trees DP-1 - =Answer>> basic, covers fire, lightning, explosion, coverage A-attached, B-separated, coverage C- household + personal, settled with (ACV) DP-2 - =Answer>> Broad, damage by burglars, falling objects, accidental discharge, freezing of home systems, damage caused by ice, sleet, snow. coverage A-attached, B- separated, coverage are settled with (RC). C- household + personal, settled with (ACV) Personal liability endorsement - =Answer>> personal medical payments to others Debris removal coverage - =Answer>> coverage a, b, c, covered property and damage by peril pay up to 5% to remove debris Reasonable repairs coverage - =Answer>> to prevent further damage coverage for trees, shrubs, plants - =Answer>> 5%, coverage A-attached, max. 500, windstorm and hail cannot be covered insurable interest - =Answer>> a financial or economic interest person or property Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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mortgage clause - =Answer>> protect mortgage companies liberalization clause - =Answer>> friendly, changes with cancel, 30 days, broadened dwelling policy don't - =Answer>> cover theft, its a endorsement added 2 types of theft - =Answer>> limited theft and broad theft automatic increase - =Answer>> 4,6,8 % captive insurance company provide - =Answer>> for parent company insurers respond - =Answer>> fraud busting units - =Answer>> staffed educating customers - =Answer>> hot lines training employers - =Answer>> behavior sponsoring the NICB - =Answer>> national insurance crime bureau model state fraud law - =Answer>> creates state fraud bureau company prevent and detect fraud, warn of serious crime 20 states adopted this model Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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80% of 500,000 = - =Answer>> 400, import - =Answer>> being transported to insured export - =Answer>> transported away from insured domestic shipment policies - =Answer>> protect business regularly by ship or trucks, trains, mail, plane annual transit policy - =Answer>> incoming and out going shipment (one year) inland marine - =Answer>> transported over land, floater ocean marine - =Answer>> over water overseas shipping trip transit policies - =Answer>> travel good, moving goods from time move to received- expensive valuable shipment motor truck cargo policies - =Answer>> protect carriers damage goods, expire after destination and inspected personal property floater - =Answer>> additional property covers against damage or loss pair and set - =Answer>> part of a set, whole is lost, or destroyed, policy replace, restore, or repair the set commercial property floaters - =Answer>> not a fixed location, not 100% in control Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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instrumentalities of transportation - =Answer>> transportation of goods, such as bridges, tunnels, road, dams, radio towers, powerlines, piers personal articles floater - =Answer>> written on a single policy form bailee - =Answer>> property of someone else for special purpose bailee's customer floater - =Answer>> protects the bailee from damages block policies - =Answer>> very expensive items, business inventory Competence - =Answer>> not trained enough liaison - =Answer>> adjuster between insurer and claimant fair plan - =Answer>> basic fire GA student discount - =Answer>> 10% oral binder - =Answer>> 90 days libel - =Answer>> written slander - =Answer>> spoken twisting - =Answer>> misrepresentation or persuaded Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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subrogation - =Answer>> insurer collect money from guilty party for claimants assumption of risk - =Answer>> knew about potential damages Contributory Negligence - =Answer>> you played a part in damage tort law 3 degrees liability - =Answer>> full- 100% fault, partial- partially faulted, No- 0% liability 4 elements of negligence - =Answer>> legal duty to act, failed to act, suffered actual loss, direct result impasse - =Answer>> resolution settlement - =Answer>> agreement mediation - =Answer>> advisory Aribitration - =Answer>> dispute outside courtroom litigation - =Answer>> court decides Res Ipsa Loquitur - =Answer>> thing speaks for itself Statue of limitation - =Answer>> personal 2 yrs, trespassing 4 yrs, fraud 2 yrs, defamation-libel 1 yr Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Georgia at fault state - =Answer>> 50% bar rule, 50% more fault 3 types of authority - =Answer>> express, implied, apparent Period of Restoration - =Answer>> 72 hour, wait HIPPA - =Answer>> medical information is checked and used vehicle rental for insurance - =Answer>> $7 to $14 day Increase Liability - =Answer>> bodily injuries- 50/100,100/200,250/500,500/1,000 property damage- 25,50,100,250,500 ,more reporting new car - =Answer>> 10 days, used car 14 days, comprehensive and collision coverage 4 days, $500 deduct supplementary payment - =Answer>> lost wages 200 day, copy fees, bail bond up to $250, accrued interest after a judgement, premiums on appeal bond car rental daily - =Answer>> $20 day up to $ Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
