Insurance Adjuster Exam With 100% Correct Answers 2023

Which kind of losses are covered under a standard fire policy? - Correct answer-Direct

All fires are not covered by the Standard Fire policies, only those that: - Correct answerare hostile and have a flame or glow

At what time does a fire policy go into affect? - Correct answer-12:01am standard time

at the location of the insured's property

A property is insured under two Standard Fire policies for $25,000 each. A fire causes

$10,000 worth of damage. What is the maximum amount the insured may collect under

each policy? - Correct answer-$5,000

A fire burning in the middle of the living room would be considered: - Correct answer-a

hostile fire

An insured's house is damaged by fire caused by a neighbor's negligence. The

insurance company will attempt to recover damage from the neighbor. This is called: -

Correct answer-subrogation

Which of the following statements are true concerning requirements of the standard fire

policy? - Correct answer-The insured must separate damaged from undamaged

property in the event there is a loss AND If a loss occurs, the insured normally has 60

days to file a proof of loss with the insurer

Which types of property are excluded from coverage under the basic fire policy? -

Correct answer-accounts, currency, deeds, and securities

Who is insured under the Standard Fire policy? - Correct answer-the named insured

and his legal representatives

An agreement which affords temporary insurance protection until the policy is issued is

called: - Correct answer-a binder

as a general rule, a complete fire insurance policy would be made up of: - Correct

answer-the Standard Fire policy with one or more forms attached

The one condition listed below which will not void a fire policy:

a) false swearing

b) misrepresentation

c) over-insurance

d) concealment - Correct answer-over-insurance