Cash distribution, trial, waived, assigned towards future benefits are examples.
What are ways in which subrogation liens can be resolved or settled?
100
The speed at which an object travels in a defined period of time and the two forms of measurements used to determine this.
What is velocity? FPS = feet per second and MPH = miles per hour
100
Almost all property insurance policies contain this. They all can be referred to as conditions subsequent (i.e., conditions that apply after a loss).
What are subrogation clauses?
100
As a CSRP, I will interact with other members of the insurance industry ethically and honestly.
What is Canon 6?
200
CSRP
What is Certified Subrogation Recovery Professional?
200
Affects the ability to recover and percentage to be recovered, lien reductions
What is the impact of employer fault on potential lien recovery?
200
A widely used rule of thumb gives the driver approximately ________to perceive a condition and an additional ________ to react
What is .75 seconds?
200
The cost of repairing or replacing materials with the like, kind and quality or reasonably available substitutes.
What is Replacement Cost?
200
As a CSRP, I will continually seek to improve my professional knowledge and skills and stay current on those things that affect my ability to
perform competently.
What is Canon 2?
300
FDCPA
What is Fair Debt Collection Practices Act?
300
employee, employer and tortfeasor
Who are the three parties to be concerned with in every work comp subrogation matter?
300
These are things to be considered when determining whether to pursue an underinsured or uninsured motorist?
What are demand amount, cost to pursue, potential net recovery, policy limits and asset availability?
300
These are the five general areas of damages coverage under most property insurance policies.
What are 1. building, 2. contents, 3. debris removal, 4. additional living expenses (ALE), and 5. business and/or extra income?
300
As a CSRP, I will honor the Certified Subrogation Recovery Professional (CSRP) designation, display it appropriately, and not use the designation
to misrepresent myself or others.
What is Canon 7?
400
ERISA
What is Employee Retirement Income Security Act of 1974?
400
In some jurisdictions, an employer or carrier is permitted to do this with its subro or lien rights to a third party defendant in exchange for payment of a sum of money as a way of obtaining a recovery before claimant has settled the case.
What is Assignment or "Sale" of the Lien?
400
Another theory of liability against someone other than the driver of the motor vehicle. A driver proved to be an employee, on employer business, and that the employee was acting in the course and scope of employment when accident occurred.
Who is Respondeat Superior?
400
Where repair costs are presented in support of a property damage claim, liability insurers and defense counsel invariably assert they owe this.
What is ACV = actual cash value or the repair costs minus depreciation?
400
As a CSRP, I recognize the significant role that subrogation and recovery play in imposing liability on responsible parties and I will strive to
maintain the integrity of the industry and my profession, appreciating the obligation I have to meet the needs of the general public.
What is Canon 1?
500
FEHBA
What is Federal Employees Health Act?
500
When a claimant obtains a recovery from a third party in excess of the benefit amounts paid by the work comp carrier as of the date of settlement, the carrier is, in many jurisdictions, also permitted to discontinue paying future benefits to the extent of the claimant's actual recovery. This is often referred to as a "future credit" or_________.
What is "holiday"?
500
This can help to identify certain information about a vehicle involved in a crash such as: speed, brake applied or not, crash force, state of the engine throttle, and if seat belt was buckled.
What is an EDR - Electronic Data Recorder?
500
Another broad exception to the market value measure of damages applies where property - real or personal - has no market value, or where the fair market value does not accurately reflect the true value of the property to its owner.
What is the Unique or the "Peculiar Value" doctrine?
500
As a CSRP, I am committed to improving the mechanism of subrogation and recovery and the concept of indemnification. I will perform the
duties of my occupation recognizing the key role it plays in the insurance industry.