One who is involved in the investigation, adjustment, negotiation and/or trial preparations of claims arising under insurance policies is defined as:
What is a Claims Adjuster
100
The authority given by an insurer or employer to a licensee to transact insurance or adjust claims on behalf of an insurer or employer is defined as:
A. Appointment
B. Express Authority
C. Registered
D. Certificate of Authority
What is A. Appointment
100
Name three things that are considered to be unfair methods of competition and unfair or deceptive acts or practices:
What is False Statements, Unfair Discrimination, and Unlawful Rebates
100
Damaged property that may be retrieved, reconditioned and sold to reduce an insured loss is defined as:
What is Salvage
100
An agent representing a health maintenance organization , or as to health insurance only, an insurer transacting health insurance is defined as a(n):
What is Health Agent
200
The adjusters 3 basic activities in claims handling are:
What is Investigation, Evaluation, and Negotiation
200
The adjuster's investigation may include all of the following except:
A. Verification of Bills and Estimates
B. Photographs
C. Witness Canvasses
D. Policy Cancellation
What is D. Policy Cancellation
200
Charging an applicant for a specific ancillary coverage or product, in addition to the cost of the insurance coverage provided for, without the informed consent of the applicant is a practice of:
What is Sliding
200
Must be licensed, appointed by a General Lines Agent and can transact AUTO insurance only in the Office Only.
A. Customer Representative 4-40
B. Limited Customer Representative 4-42
C. General Lines Claim Adjuster 6-20
D. General Lines Agent 2-20
What is B. Limited Customer Representative 4-42
200
True or False. Defaming a competitor company or agent is not only unprofessional, it can also result in a license suspension.
What is True
300
A written statement given by the insured to the insurer acknowledging that money received in the settlement of damages is received, not as a final payment, but as an advance pending an outcome of a claim against the person responsible for the damage. This is defined as:
What is a Loan Receipt
300
How many continuing education hours must an insurance adjuster complete every 2 years?
What is 24
300
The assertion of an alleged legal right against an insurer, which carries with it a demand for appropriate relief, is defined as:
What is Claim
300
Establishing a dollar value on a claim is defined as:
What is a Evaluation
300
DAILY DOUBLE!!!!!!
Can you name all the sections we will be tested on?
What is there are 13 in total...We can name them together! lol
400
An Insurance Company which is formed under the laws of the State of Illinois, and has its Home Office there, is considered a:
What is Foreign Company
400
The process of disposing of an insurance claim is defined as:
What is Adjusting
400
The District of Columbia and any state or territory of the United States in which an insurance agent maintains his or her principal place of residence or principal place of business and is licensed to act as an insurance agent. This is defined as:
What is Home State
400
When investigating liability insurance claims, which of the following three major elements are determined:
A. Coverage
B. Liability
C. Damages
D. All of the Above
What is D. All of the Above
400
While selling an Automobile policy to a customer, an agent tells them that they are also required to purchase an Emergency Road Service Plan, even though that is not true. This is an example of:
What is Sliding
500
An agent who transacts any one or more of the following types of insurance: Property, Casualty, Surety, Marine, and Health is defined as a(n):
What is General Lines agent
500
Any material which is or may have been a motor vehicle or mobile home, which is inoperable and which material is in such condition that its highest or primary value is either in its sale or transfer as scrap metal or for its component parts, or a combination of the two. This is defined as:
A. Junk
B. Derelict
C. Major Component Parts
D. None of the Above
What is B. Derelict
500
An adjuster who is a salaried employee under the supervision of the home, branch, or regional claims department of insurers is defined as a(n):
A. Company or Staff Adjusters
B. Fee Adjuster
C. Public Adjuster
D. Bureau Adjuster
What is A. Company or Staff Adjusters
500
Which of the following is true? A General Lines Agent instructs a licensed Customer Representative 4-40 to thoroughly cover the details of a new life insurance product with every Homeowner customer who calls or visits the office. The agent provides training on the new product. Although the Customer Representative does not have a Life License, he or she feels comfortable with the training and does as requested.
A.This practice is acceptable if done in the office under the supervision of the General Lines Agent.
B. This practice is acceptable because adequate training and product knowledge was provided.
C. This practice is unacceptable and may result in the suspension or revocation of the Customer Representative's license.
D. This practice is only acceptable only if the product training was certified by the Life Insurance Company and a copy of the certification is sent to the Department.
What is C.
500
An individual appointed by a general lines or agency to assist that agent or agency in transacting the business of insurance from the office of that agent or agency is defined as:
A. Customer Service Representative
B. General Lines Agent
C. Adjuster
D. None of the Above