TEXAS ALL LINES ADJUSTER EXAM BRAND NEW!! 2023-2024 (200+ QUESTIONS AND CORRECT ANSWERS) VERIFIED ANSWERS

TEXAS ALL LINES ADJUSTER EXAM

BRAND NEW!! 2023-2024 (200+ QUESTIONS

AND CORRECT ANSWERS) VERIFIED

ANSWERS

What is the failure to use that degree of care which n ordinary person of reasonable

prudence would use under similar circumstances? - ANSWER- Negligence

What is a situation involving a person other than an insured? - ANSWER- Third

Party Loss

What is the responsibility to another for one's negligence? - ANSWER- Liability

Mary has a homeowner's policy. Her Coverage A limit of liability is $250,000 and

her Coverage B limit of liability is $125,000. Her policy has a 2?ductible.

What is her deductible? - ANSWER- $5,000

The part of the insurance policy that details the rights and duties of the insured and

the insurance company in the policy? - ANSWER- Conditions

What is a partial legal defense that reduces the amount of damages that a person

can recover based upon the amount that this person's own negligence contributed

to the loss? - ANSWER- Comparative Negligence

Value of property based on the current cost to replace it minus depreciation? -

ANSWER- Actual Cash Vale

This type of Auto Coverage pays for your damages if you were involved in a hit

and run: - ANSWER- Uninsured Motorist

What is the cost associated with replacing property at current market prices? -

ANSWER- Replacement Cost

The process when an insurer and insured have a dispute regarding the amount of

the damage: - ANSWER- Appraisal

The intentional misrepresentation of a material fact that may void a contract? -

ANSWER- Fraud

What is the type of negotiation that is also sometimes called positional or hardbargaining? - ANSWER- Distributive

An event that results in an insured loss and damages? - ANSWER- Occurrence

What is the period a policy is in force, from the beginning or effective date? -

ANSWER- Policy Period

The amount the insured must pay in a loss before any payment is due? -

ANSWER- Deductible

The insurer must review the claim and accept or reject within how many days? -

ANSWER- 15 calendar

Oral or written false statement that is malicious - ANSWER- Defamation

Time requirements does the policy holder have to complete the requirements that

the insurer has requested? - ANSWER- No requirements

Days for insurer to pay the claim - ANSWER- 5 business

Insurer must acknowledge the claim begin the investigation, and request all the

information needed in what time frame? - ANSWER- 15 Calendar days

What must an insurer provide for the declination, cancellation, or nonrenewal of an

insurance policy? - ANSWER- Written Statement

Established in 1991 to ensure prompt payment of insurance claims? - ANSWERArticle 21.55

An insurer may not consider a _______ as a basis for declination? - ANSWERCustomer Inquiry

An insurer may refuse to renew a policy if the insurer has mailed notice of

nonrenewal to the insured at least_____ days before the policy's expiration date? -

ANSWER- 30

If the insurer needs additional time to evaluate and investigate a claim, they can

request how many additional days? - ANSWER- 45 Calendar Days

Under the Texas HO-B, the structure is covered for what type of losses? -

ANSWER- All risk of physical loss, unless excluded

Under the Texas HO-B, jewelry, watches, and furs are limited to? - ANSWER-

$500 for losses caused by theft

Under the Texas HO-B policy, the most paid for a tree? - ANSWER- $250

The Special Limit of Liability for Bullion/ Valuable Papers is? - ANSWER- $500

HO-B policy, you would choose the Deductible Clause 1 for losses caused by? -

ANSWER- Windstorm, Hurricane, Hail

Trees, shrubs, plants, and lawns are not covered for losses caused by? - ANSWERWindstorm

If your policyholder has a percentage deductible, how do you determine what the

deductible amount is? - ANSWER- Apply the percentage to Coverage A limit of

liability

What is a crucial element to the adjustment process? - ANSWER- Claim

investigation

The adjuster must set appointment ______ to meet both the needs of the adjuster

and the policyholder? - ANSWER- At reasonable times

What should adjusters do to obtain a fair and equitable settlement? - ANSWERWork in Good Faith

What should you do to make sure your policyholder always stays informed? -

ANSWER- Timely Follow Up

The claim activit log must be clear, concise, factual, and always? - ANSWER- Up

to date

Adjuster should make initial contact within - ANSWER- 24 hours

Adjusters should remain... - ANSWER- calm and professional

The employee has to report injury in ____ days - ANSWER- 30 days

Two examples of compensation provided by worker's compensation? - ANSWERPaying for medical bills and replacing bills

How many types of worker' comp disability? - ANSWER- 4

Workers Compensation provides income and medical if they are? - ANSWERInjured on the job?

An employee of Office of Injured Employee Counsel is known as? - ANSWEROmbudsman

Employer must report injuries within___? - ANSWER- 8 days

Four Categories of Workers Compensation laws? - ANSWER- Disability, Medical,

Survivor, Rehab

Disability lasts a short period and employee is fully able to return. - ANSWERTemporary Total

Temporary disablement that allows employee to return but reduced capability? -

ANSWER- Temporary partial

Adjuster - ANSWER- an individual license under Insurance Code Article 21.07-4

All lines, Property & Casualty, Workers Compensation - ANSWER- Types of

Texas adjusters

CPCU designated, Associat in claims (AIC) designation, completed course or

exam with 12 months, expired license 91-364 days - ANSWER- Exempt from

licensing exam

License expires on - ANSWER- 2nd anniversary of issue date

Must apply after - ANSWER- 90 days expired