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Alaska Adjuster Licensing and related insurance concepts Questions and Correct Answers (, Exams of Insurance law

Alaska Adjuster Licensing and related insurance concepts Questions and Correct Answers (Verified Answers) Plus Rationales 2025

Typology: Exams

2024/2025

Available from 07/01/2025

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Alaska Adjuster Licensing and related insurance
concepts Questions and Correct Answers
(Verified Answers) Plus Rationales 2025
1. What type of adjuster license is required in Alaska?
• Independent only
• Staff only
• Both independent and staff
• No license required
Alaska requires a license for both independent and staff adjusters.
2. Who issues adjuster licenses in Alaska?
• Secretary of State
• Division of Insurance
• Governor’s Office
• Department of Labor
The Alaska Division of Insurance regulates and issues adjuster licenses.
3. How often must adjuster licenses be renewed in Alaska?
• Every year
• Every five years
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Alaska Adjuster Licensing and related insurance

concepts Questions and Correct Answers

(Verified Answers) Plus Rationales 2025

  1. What type of adjuster license is required in Alaska?
  • Independent only
  • Staff only
  • Both independent and staff
  • No license required Alaska requires a license for both independent and staff adjusters.
  1. Who issues adjuster licenses in Alaska?
  • Secretary of State
  • Division of Insurance
  • Governor’s Office
  • Department of Labor The Alaska Division of Insurance regulates and issues adjuster licenses.
  1. How often must adjuster licenses be renewed in Alaska?
  • Every year
  • Every five years
  • Every two years
  • Every ten years Alaska adjuster licenses must be renewed biennially (every two years).
  1. What is the minimum age requirement for obtaining an adjuster license in Alaska?
  • 16
  • 21
  • 18
  • 25 Applicants must be at least 18 years old to obtain a license.
  1. Does Alaska require a licensing exam for adjusters?
  • Yes
  • No A licensing exam is required for adjusters in Alaska unless exempted through reciprocity.
  1. What is required to apply for an Alaska adjuster license?
  • College degree
  • Fingerprinting and background check
  • Military service
  • Employment verification Fingerprinting and background checks are required as part of the application process.
  • Performing surgeries
  • Collecting taxes Adjusters primarily investigate and resolve insurance claims. 11.How can an adjuster reinstate a lapsed license in Alaska?
  • Pay fees and complete required continuing education
  • Wait 10 years
  • Take the exam again only
  • Submit a letter To reinstate, the adjuster must meet CE requirements and pay fees. 12.What is the fee for applying for an adjuster license in Alaska?
  • $
  • $
  • $
  • $ As of the latest updates, the application fee is $75. 13.What kind of bond might an adjuster be required to post?
  • Bail bond
  • Marriage bond
  • Surety bond
  • License bond A surety bond ensures compliance with state regulations and ethical practice. 14.Can an adjuster in Alaska represent both the insurer and insured?
  • Yes
  • No Adjusters must remain impartial and typically represent only one party in a claim. 15.What entity oversees insurance fraud investigations in Alaska?
  • Division of Insurance Fraud Unit
  • FBI
  • Local police
  • Mayor’s office Insurance fraud is handled by the Division of Insurance's fraud investigation unit. 16.What is a public adjuster?
  • A government worker
  • An adjuster representing the insured
  • A claims agent
  • A contractor Public adjusters work on behalf of the policyholder, not the insurer. 17.What must be reported to the Alaska Division of Insurance within 30 days?
  • Negotiating settlements
  • Interviewing witnesses Adjusters do not issue policies; they handle claims. 21.How many hours of ethics CE are required in Alaska?
  • 0
  • 2
  • 4
  • 3 Of the 24 CE hours, 3 must be in ethics. 22.What is a staff adjuster?
  • An intern
  • An employee of an insurance company
  • A temp
  • A contractor Staff adjusters are salaried employees of insurers. 23.What is an independent adjuster?
  • A freelancer
  • An adjuster who handles claims for multiple insurers
  • Public figure
  • Attorney Independent adjusters work for third-party adjusting firms or independently. 24.How is the Alaska adjuster exam administered?
  • In person only
  • Via a testing vendor such as Pearson VUE
  • By mail
  • Through email Exams are typically administered by a third-party testing service. 25.When must CE be completed for license renewal?
  • Within 5 years
  • Before birthdate
  • Before the license expiration date
  • After renewal CE must be completed before the expiration date to avoid lapse. 26.What is the grace period for renewal in Alaska?
  • 60 days
  • 6 months
  • 90 days
  • 1 year There’s a 90-day grace period post-expiration for late renewal.
  • Online through testing provider website
  • By mail Exams are scheduled through an official provider’s portal. 31.Can a revoked license be reinstated?
  • No
  • Yes, under certain conditions
  • Only after 20 years
  • After retirement Reinstatement may be possible after compliance with disciplinary actions. 32.What is one of the main goals of adjuster regulation?
  • Tax collection
  • Consumer protection
  • Advertising
  • Profit control Regulations protect consumers from unethical practices. 33.What is a catastrophe adjuster?
  • Meteorologist
  • An adjuster handling disaster-related claims
  • Lawyer
  • Contractor These adjusters are activated during major disasters.

34.Does Alaska accept reciprocal licenses?

  • Never
  • Yes, from other licensing states
  • Only from Canada
  • Only federal licenses Alaska grants licenses to non-residents whose home states have licensing and reciprocity. 35.Can an adjuster specialize in multiple lines?
  • No
  • Yes, with proper authority
  • Only if resident
  • Only in health Adjusters may hold multiple lines if qualified. 36.Are adjusters allowed to solicit claims?
  • Yes
  • No, this is unethical
  • Only in emergencies
  • Only for family Soliciting claims is generally considered unethical and may be illegal. 37.What insurance field typically employs adjusters?
  • Property and casualty
  • None required Both federal and state checks are typically performed. 41.What does an adjuster report typically include?
  • Personal opinion
  • Claim facts, damage estimates, findings
  • Patient health info
  • Business profits Adjuster reports document findings, scope of loss, and recommendations. 42.Who can deny an adjuster license?
  • Local mayor
  • Insurance commissioner
  • Governor
  • IRS The state insurance commissioner has the authority. 43.What is a claims reserve?
  • Emergency fund
  • Estimated amount set aside to pay a claim
  • Bonus
  • Premium discount Reserves are set up to ensure future claims are covered. 44.What is ā€œbad faithā€ in insurance adjusting?
  • Delay
  • Unethical denial or handling of claims
  • Poor communication
  • Slow service Bad faith includes deliberate failure to honor valid claims. 45.What does NAIC stand for?
  • National Auto Insurance Council
  • National Association of Insurance Commissioners
  • New Adjuster Inspection Commission
  • North American Insurance Club NAIC supports state regulators with model laws and oversight. 46.What is indemnification?
  • Rewarding policyholders
  • Restoring the insured to original financial status
  • Penalizing the insurer
  • Lowering premiums Indemnification compensates for loss to restore prior financial state. 47.Who regulates adjusters in Alaska?
  • Federal government
  • Alaska Division of Insurance
  • IRS

51.What is the consequence of misrepresenting policy provisions as an adjuster?

  • Promotion
  • License upgrade
  • License suspension or revocation
  • Exemption from CE Misrepresentation is a violation of ethical conduct and can lead to disciplinary actions including suspension or revocation. 52.Which license type allows handling of claims on behalf of the insured in Alaska?
  • Staff adjuster
  • Public adjuster
  • Independent adjuster
  • Broker Public adjusters work directly for policyholders, not insurance companies. 53.How long must an adjuster in Alaska keep records of claims handled?
  • 1 year
  • 2 years
  • 5 years
  • 10 years Adjusters must retain claim records for at least 5 years as part of compliance and auditing processes. 54.When is an adjuster required to notify the state about a felony conviction?
  • Within 90 days
  • Never
  • On next renewal
  • Within 30 days Convictions that impact licensure must be reported within 30 days to the Division of Insurance. 55.Can an adjuster license be suspended without a hearing?
  • Always
  • Never
  • Yes, in emergency or egregious cases
  • Only after a year Licenses can be temporarily suspended before a hearing if public interest is at risk. 56.What entity enforces disciplinary action against adjusters?
  • Alaska Division of Insurance
  • NAIC
  • FBI

60.Which insurance lines can an Alaska adjuster be licensed for?

  • Property only
  • Casualty only
  • Multiple lines such as property, casualty, and marine
  • Life and health only Adjusters in Alaska can be licensed for multiple lines, depending on their qualifications and license type. 61.What is the role of ethics in adjusting?
  • Not required
  • Guides fair and legal claim practices
  • For HR only
  • Applies only to managers Ethical conduct ensures public trust and regulatory compliance in adjusting. 62.When is a temporary license valid in Alaska?
  • Indefinitely
  • During emergencies or disasters for a set period
  • For all non-residents
  • Only in winter Temporary licenses are issued in response to catastrophe declarations or special circumstances. 63.What is an example of unfair claims practice?
  • Calling insured
  • Denying claim without investigation
  • Asking for documentation
  • Requesting estimate Adjusters must properly investigate before making claim decisions. 64.What is the main reason for CE requirements?
  • Revenue
  • Time tracking
  • Keeping adjusters updated on laws and practices
  • Test preparation CE ensures adjusters stay informed about evolving industry standards and laws. 65.What must adjusters do when a claim involves potential fraud?
  • Report to insurer’s fraud unit or DOI
  • Handle as usual
  • Cancel policy
  • Ignore Suspected fraud must be reported to appropriate authorities. 66.Are adjusters required to act in good faith?
  • No
  • Yes, at all times