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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
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State Insurance Claims Adjusters Certification 2024- Georgia G.A Claims Adjuster Exam Practice Review Questions and Answers | 100% Pass Guaranteed | Graded A+ | Read All Instructions Carefully and Answer All the Questions Correctly Good Luck: - Warranty - =Answer>> Is a statement made in an insurance contract by the insured when the validity of the insurance contract depends on the literal truth or statement. Res Ipsa Loquitor - =Answer>> "The thing speaks for its self" Diminution of Value - =Answer>> A reduction in the value of a vehicle even after repairs have been made Declaratory Judgement - =Answer>> Is a lawsuit seeking a judicial determination of whether policy coverage applies to a claim. Insurers usually file declaratory actions to determine whether a claim falls within the provisions of the insuring agreement of a policy. Loss Payable Clause - =Answer>> An insurance provision authorizing payment in the event of loss to a person or entity other than the named insured with an insurable interest in the covered property or, in some cases, jointly to the insured and the other person or entity. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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General Average Clause. - =Answer>> where everyone shares in the loss to save and preserve the ship and its cargo. Liberalization Clause - =Answer>> is a clause that automatically upgrades an insured's policy when the company has made a change without a premium charge that broadens coverage on the same types of policies issued after the insured's policy was issued. A conditional or partial release - =Answer>> An "open-ended" release pertains to: Occurrence - =Answer>> Which of the following terms best describes an accident including continuous and repeated exposure to similar harmful conditions? Reasonable expectations - =Answer>> Which characteristic of an insurance contract supports the ambiguity ruling in favor of the insured on a policy? Substantive Law - =Answer>> That branch of the law which defines rights and duties is referred to as Driver of the claimant vehicle - =Answer>> You are assigned the investigation of a head-on collision involving major injuries in both the insured and claimant vehicles. First contact should be made with the: Penalty - =Answer>> The limit of a bond is known as its Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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The insured - =Answer>> The burden of proof in determining the value of property and the cause of loss lies with: Payment and Discharge - =Answer>> The payment of a claim in exchange for a release indicating that the claim was paid as a result of a settlement agreed to by all parties is called a: Additional Insured - Lessor - =Answer>> Under the business auto policy, the endorsement used to protect the owner of a leased vehicle is: period of restoration - =Answer>> "Ends on the date when the property at the described premises should be repaired, rebuilt or replaced with reasonable speed and similar quality." This period starts after a 72-hour waiting period. The Special Form only - =Answer>> Which of the following dwelling forms provides "open peril" coverage for dwellings and other detached structures? Apparent authority - =Answer>> The authority the public believes the agent has based on the agent's actions is known as: Consideration - =Answer>> In a contract, something of value exchanged between the parties is referred to as: A non owned vehicle - =Answer>> What is the definition of a rental vehicle under the personal auto policy? Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Adhesion - =Answer>> One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the other (the insured) can 'take it or leave it. Adjusted Gross Revenue (Crop Insurance) - =Answer>> Narrowest (and least expensive) form of Crop Revenue Insurance. Insures farm revenue as a whole instead of individual crops. Guarantees a percentage of the insured farm's average revenue. Adjuster - Emergency - =Answer>> Adjusters who are temporarily licensed by the insurance commissioner to handle claims during catastrophes or emergencies that produce an overwhelming number of claims in a short period of time. Adjuster - Independent - =Answer>> Self-employed adjusters who contract with multiple insurers at the same time. Paid on a commission or fee-plus-expenses basis for each claim. Also called: Fee Adjuster, Bureau Adjuster Adjuster - Public - =Answer>> An adjuster who is hired to represent the claimant and help determine a fair indemnification. Usually specializes in appraisals and negotiation. Paid commission, usually a percentage of final settlement. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Adjuster - Staff - =Answer>> Salaried employee of one insurance company who can work locally, regionally, or nationally. Also called: Company Adjuster Advance Payment Settlement - =Answer>> A settlement option that lets the insurer offer some financial relief to the claimant before the claim has been fully settled. The insurer makes advance payments to the claimant, which are then subtracted from the final settlement amount. Often used when a claimant suffers bodily injury and is unable to work. Agency Authority - =Answer>> The Agent's authority to act on behalf of someone else, usually an insurer. This authority is derived from the agent's contract with the insurer. Agency Authority - express - =Answer>> Authority that is expressly given to the agent in writing. Allows agent to act on behalf of the principal. Agency Authority - implied - =Answer>> Authority that an agent possesses by implication of his behavior, regardless of whether this authority is expressly granted in writing. Agency Authority - apparent - =Answer>> Authority that an agent possesses based on the appearance of representing an insurer. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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installed. Coverage ceases when the property has been accepted by the purchaser. Reasonable Expectation Doctrine - =Answer>> States that a policy should include coverage's that an average person would reasonable expect it to include. Bailment - =Answer>> A temporary entrustment of the property to another. Vicarious - =Answer>> "Means through or in place of another person." Discrimination - =Answer>> Is treating someone differently in rating or underwriting when he or she falls into the same category as another Coercion - =Answer>> Trying to force the insured to do something he or she is not required to do. illegal Inducement - =Answer>> Is a promise to give something that is illegal, such as rebating a portion of the commission. Leasehold Interest Insurance - =Answer>> Protects against financial loss suffered by a building tenant, when a favorable lease is cancelled before expiration because of loss or damage to the building by an insured cause of loss Remuneration - =Answer>> Workers Compensation premiums are based on job description and payroll Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Fidelity Bond - =Answer>> Covers the dishonest acts of employees Named Non-Owner Coverage - =Answer>> Someone who does not own a automobile, but who drives borrowed or rented autos. Bulk Shipments - =Answer>> Consist of ores, coal, iron, grain, etc. Insuring Agreements - =Answer>> The perilscovered are found in one of the "three cause of loss" forms that are a part of this term Georgia Insurance Guaranty Association - =Answer>> To pay the covered claims of insolvent insurance companies. The fund pays property, casualty and workers compensation claims. Rebating - =Answer>> Returning a portion of the premium or the agent's/broker's commission on the premium to the insured or other inducements to place business with a specific insurer. Certificate of Authority - =Answer>> Showing the powers that an insurer grants to its agents. Express Authority - =Answer>> The authority specifically given to the agent either in writing or orally. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Aleatory - =Answer>> A characteristic of insurance contracts. Aleatory means "depending on an unknown future event." An insurance contract will only pay IF and WHEN covered damages occur. Neither party knows how much the contract will end up paying when they enter into the contract. Answer - =Answer>> In liability cases, the defendant's response to a complaint. There are three possible answers:
accept complaint and pay for damages, 2) deny the complaint, or 3) accept the complaint with a right to insert evidence into the case. Annual Depreciation - =Answer>> An item's Replacement cost divided by the number of years in its expected lifespan. Appraisal - =Answer>> A negotiation method which allows the claimant and the insurer each to select an appraiser. The two appraisers in turn select an Umpire. The appraisers then work together to determine a settlement amount. If they cannot agree, the Umpire steps in. Agreement by any two of the three is binding. Arbitration - =Answer>> A negotiation method in which the opposing parties each submit their evidence to a mutually agreed-upon Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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and neutral third party, called an arbitrator. The arbitrator reviews the positions of each opposing side, and makes a final and legally binding decision. Arbitrator - =Answer>> The mutually-agreed-upon and neutral third party in an arbitration who reviews the positions of each opposing side, and makes a final and legally binding decision. Auto Policy - =Answer>> Insurance policy designed to protect the policyholder while owning, occupying, or operating a vehicle. Usually combines liability coverage and property coverage into one policy. Bailee - =Answer>> An individual or company that receives the property of someone else for a special purpose, and returns the product after use. BAP - =Answer>> The Business Auto Policy provides property damage and liability insurance for automobiles used by a business. Binder - =Answer>> A temporary contract provided by an insurer that ensures coverage until the complete, permanent policy is issued. Body Language - =Answer>> The signals we give through posture, behavior, apparel, etc., which are involved in communication. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Civil - =Answer>> Civil law observes court cases of one citizen charging another citizen for damages caused by tort; it differs from criminal law. Claim - =Answer>> The "offer of settlement" that the policyholder files with an insurer after she experiences a loss Claims-made Form - =Answer>> A liability policy in which the insurer pays only those claims arising during the policy period (as opposed to those claims arising after the policy period is over, regardless of whether the incident took place during the policy period). Claims Management - =Answer>> The practice of the insurance adjuster of managing a claim by processing it in a prompt and effective manner from the time the claim is filed until a settlement is reached, while adhering to all local and federal laws. Claimant - =Answer>> One who files a claim with an insurer for a loss. Coarse Grains - =Answer>> In Crop Insurance, a provision that covers reduction in crop quality, as well as crop-yield losses. Coarse grains are corn, grain sorghum, and soybeans. Coinsurance - =Answer>> The Coinsurance Clause applies to policyholders who purchase an inadequate amount of Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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property insurance. These policyholders must pay a percentage of the claim. In health insurance, coinsurance refers to the portion of a covered claim that the insured is responsible for paying out-of-pocket, after the deductible has been paid. Code of Ethics - =Answer>> A set of governing professional standards of conduct, usually created by regulatory bodies or government regulatory agencies. These standards may also be formally codified with statutes. Coercion - =Answer>> The practice of forcing another party to behave in an involuntary manner (whether through action or inaction) by use of threats or intimidation or some other form of pressure or force. Commerce - =Answer>> The exchange or transport of goods or property Commercial - =Answer>> Having to do with commerce or business activity in general. Commercial Lines - =Answer>> A variety of insurance coverages that protect those involved in the business of creating, selling, displaying, evaluating, or shipping, etc. Example include: Business Owner's Policy; Commercial Property; Commercial General Liability; Workers Compensation; Professional Liability (D&O), Errors and Omissions (E&O) and Employment-Related Practices Liability. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Consideration - =Answer>> One of the four qualifications of a legally binding contract. All parties must bring something of value to the contract. Contract - =Answer>> An agreement entered into voluntarily by two parties or more with the intention of creating a legal obligation. Coverages - =Answer>> The amount and extent of protection provided by an insurance policy. Crime - =Answer>> An offense against the State or Federal Government, or a breach of law, for which the offender shall make satisfaction to the public. Criminal - =Answer>> Someone who has been convicted of a criminal act in a court of law. Crop Hail Insurance - =Answer>> A form of Crop Yield Insurance that is usually provided by private insurers without government subsidy. It offers named-peril protection on an acreage basis. Crop Insurance - =Answer>> Insurance coverage designed to protect a farmer's financial investment in his or her crops. Covers losses to a crop's profitability. Crop Revenue Insurance - =Answer>> Crop insurance that combines crop-yield insurance and price insurance to protect against losses to crop value. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Crop Yield Insurance - =Answer>> Crop insurance that covers losses to actual crops Damages - general - =Answer>> Intangible losses such as pain and suffering, or mental anguish. Damages - special - =Answer>> Tangible, financial losses that can be documented. Dangerous Instrumentality Doctrine - =Answer>> States that anyone involved in the use of inherently dangerous products or machines is held 100% liable for their own damages. Dec Page - =Answer>> Also called the Declarations Page. First page of a policy, which provides a summary of the contract; includes names of insured, addresses, coverage limits, policy period, etc. Declined Coverage - =Answer>> takes place when an insurance company rejects an application for coverage. Deductible - =Answer>> The amount the policyholder must pay out-of-pocket before the insurance company will pay the remaining costs. Deductible - fixed - =Answer>> A fixed deductible is one specific, predetermined amount that a policyholder must pay out-of pocket before he can be indemnified. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
