Download Texas All Lines Adjuster Prelicensing Practice Exam and more Exams Insurance law in PDF only on Docsity!
licensing Practice Exam Questions And
Answers
Which regulatory body handles violations of related insurance issues only? - correct answer ✅Texas Insurance Code (TIC) What license carries the minimum requirements to handle homeowner's claims? - correct answer ✅Property, Casualty & Surety 30% of the questions on the license exam are considered "Knowledge-based" questions. What are the remaining 70% considered? - correct answer ✅Application-based Most Workers' Compensation policies have what type of policy limit? - correct answer ✅None Which one of the following penalties or remedies is not valid under the DTPA? - correct answer ✅Locked in the same room alone with an adjuster Which one of the following is not a qualification to become an adjuster? - correct answer ✅Have an MBA in insurance
licensing Practice Exam Questions And
Answers
If your adjusters license has not been renewed and the current date is 6 months past the actual renewal date, what must you do to obtain a license? - correct answer ✅Re-apply for an adjuster's license & pay a 50% penalty An Emergency Adjuster is valid for 90 days with an allowable ______ extension. - correct answer ✅90 day When must a licensed adjuster renew his/her adjuster's license in Texas? - correct answer ✅2 years from your birthday after receiving your initial license In the mid 1990's Insurer's shifted focus on claims handling from field adjusting to in-office adjusting. This change in claims handling was known as ___________________. - correct answer ✅Claim Centralization An unlicensed adjuster may work under a licensed adjuster for how long before being required to obtain a valid adjuster's license? - correct answer ✅12 months
licensing Practice Exam Questions And
Answers
What is the legal age to become a competent party to a contract? - correct answer ✅ 18 Which of the following is allowed to handle property claims for an insurance carrier? - correct answer ✅An individual who as an employee of an insurance company supervises the handling of claims What does IME stand for? - correct answer ✅Independent Medical Examination Which of the following is not a source of legal liability? - correct answer ✅Peril What is the TIC? - correct answer ✅Texas Insurance Code An individual who investigates or adjusts losses or supervises the handling of claims. - correct answer ✅Adjuster Current Chapters 541 & 542 of the TIC were once recognized as what Article? - correct answer ✅21.
licensing Practice Exam Questions And
Answers
An adjuster that works exclusively for an insurance company. - correct answer ✅Staff Adjuster What is the time limit for completion of the Texas All-Lines Adjuster Exam? - correct answer ✅180 minutes Which of the following in not a 'Compensatory Damage'? - correct answer ✅Money to punish the wrong-doer Under the TIC Remedies, what is the cap for punitive damages? - correct answer ✅2 x damages Which of the following incidents would an employer be responsible for providing coverage? - correct answer ✅Employee was negligent and fell from a ladder resulting in injury to himself Which of the following methods to control medical costs would not be included in a Worker's Compensation policy? - correct answer ✅Deny physical therapy treatments
licensing Practice Exam Questions And
Answers
Which of the following will not likely be involved or included in a Worker's Compensation investigation? - correct answer ✅Inspection of Tax Records Which regulatory body or statue handles consumer protection violations of most businesses related issues in Texas? - correct answer ✅Deceptive Trade Practices Act Pursuant to Texas Insurance Code, which of the following is not exempt from the requirement of an adjuster's license examination?
- correct answer ✅Those earning an MBA in Insurance Operations Which of the following would be considered an 'Exemplary Damage'? - correct answer ✅Punitive Damage The insurance company function that is responsible for handling payment of claims. - correct answer ✅Claims Adjusting What does TDI stand for? - correct answer ✅Texas Department of Insurance
licensing Practice Exam Questions And
Answers
An insured is also considered a _______________ under the Deceptive Trade Practices Act. - correct answer ✅Consumer The body of law can be divided into 2 main categories. Which one of the following is one of the categories? - correct answer ✅Civil Law Which of the following could be a violation of the Unfair Claims Settlement Practices Act? - correct answer ✅The adjuster refused to return the contact attempts of the insured for over 6 months? The Claims Adjusting Process consists of 3 major elements - correct answer ✅The insured must be over 21 years old A person, entity, or organization known as the 2nd party. - correct answer ✅Insurer What is the DTPA? - correct answer ✅Deceptive Trade Practices Act Which of the following methods of executing a contract would be binding? - correct answer ✅Written or Oral
licensing Practice Exam Questions And
Answers
Which coverage pays for 'household or replacement services' if needed due to an injury in an auto accident? - correct answer ✅Personal Injury Protection (PIP) Which coverage is mandatory to offer to prospective insureds? - correct answer ✅Personal Injury Protection (PIP) When crossing state lines, the auto limit of liability coverage will ___________. - correct answer ✅increase to the minimum limit of liability of the state occupied. Which of the following is not a penalty for violating financial responsibility laws in Texas? - correct answer ✅Repo owner's vehicle What is the maximum amount payable for PIP coverage under TPAP? - correct answer ✅$10,000 per person Fred installed a new car stereo in his described vehicle valued at $2,000. What is the most his TPAP will pay (without an endorsement) if his stereo is stolen? - correct answer ✅
licensing Practice Exam Questions And
Answers
According to the Texas Personal Auto Policy, D Coverage is _________. - correct answer ✅Both Collision & Other than Collision Coverages Regarding liability, Texas is considered a ________________-. - correct answer ✅Comparative negligence state Luis sustained an injury in an at fault auto accident and was relieved to know he had PIP coverage to pay his lost wages since he was unemployed. What is this claim scenario? - correct answer ✅Luis collects 0 D1 Coverage under TPAP is also known as ___________ coverage. - correct answer ✅Comprehensive Which of the following auto coverages cannot be rejected when obtaining a policy? - correct answer ✅Part A- liability According to the TPAP, which of the following scenarios would not be considered 'occupying' a vehicle? - correct answer ✅You, while jacking up your car to change a flat.
licensing Practice Exam Questions And
Answers
Victoria has D1 Coverage & her vehicle is stolen. How much can she recover for transportation expenses for the first 48 hours? - correct answer ✅0 as there is a 48 hour waiting period. According to the TPAP, ' your covered auto' can be ________________ - correct answer ✅any vehicle shown in the Declarations Tracey is deemed 45% - correct answer ✅ In Texas, you must have _________ %or greater negligence to be barred from recovery - correct answer ✅ 51 Jeff is involved in an auto accident with an uninsured motorist. His Collison coverage deductible is $500. Jeff has minimum uninsured motorist limits. His damages are $20,000. What coverage should he use? - correct answer ✅ Which coverage pays for funeral expenses related to an auto accident under the TPAP? - correct answer ✅Both MPC & PIP Coverages
licensing Practice Exam Questions And
Answers
"C" Coverage according to the TPAP is ______________ - correct answer ✅Uninsured/Underinsured Motorist Coverage Which of the following auto coverages is not mandatory to offer in the state of Texas? - correct answer ✅Part D- Other than Collision AAIS stands for - correct answer ✅American Association of Insurance Services Which of the following is not one of the three types of insurance companies in Texas based on classification? - correct answer ✅Select Company Vehicle A is 60% negligent in a collision with Vehicle B. Vehicle B sustained $2,000 in damage. How much does Vehicle A owe to Vehicle B? - correct answer ✅$1, Which of the following is not required of an insured according to the TPAP? - correct answer ✅Hire an attorney upon receipt of a claim.
licensing Practice Exam Questions And
Answers
B2 is ______________- - correct answer ✅Personal Injury Protection (PIP) D1 Coverage under the TPAP is - correct answer ✅Damage to your vehicle 'other than collision' The Texas Automotive Insurance Plan Association is based on what type of driver? - correct answer ✅Drivers who cannot obtain basic liability coverage Ashely intentionally rear ended the vehicle in front of her resulting in $1,000 in damages to the other vehicle. What amount will her liability carrier pay? - correct answer ✅ 0 Which of the following would not be considered a 'family member' according to TPAP? - correct answer ✅The 19 year old exchange student who will be moving in next year. Kathie is driving Linda's vehicle with Linda's permission. Kathie negligently but unintentionally strikes a pole damaging the pole and Linda's vehicle. What claim scenario takes place? - correct answer
licensing Practice Exam Questions And
Answers
✅Kathie's liability coverage pays for Linda's vehicle. Linda's liability pays for the pole. What contracts or policies are consistent from state to state? - correct answer ✅Standard Contracts and Policies Insurance - correct answer ✅transfer of risk Insured - correct answer ✅The person, organization, or other entity who purchases insurance (1st party) insurerer - correct answer ✅any insurance company/self-insured. An org/entity that helps the pooling of funds & payment of benefits (2nd party) Claimant - correct answer ✅a person making a claim against an insured (3rd party) Licensee - correct answer ✅Person who holds a license under the authority of the Texas Insurance Codes
licensing Practice Exam Questions And
Answers
Public Adjuster - correct answer ✅Adjuster that represents the public rather than insurers, and is generally reimbursed by the insured by payment of a percentage of the claim payment received Insurance Adjuster licensing requirements: - correct answer ✅at least 18 yrs old, resident of state/country of where adjusting, trustworthy, successfully pass the licensing exam Exemptions from licensing exam - correct answer ✅CPCU designation, Associate of Claims, pre-licensing past exams with passing scores, adjuster's license expired more than 90 days but less than 1 year When does licensing expire? - correct answer ✅Each adjuster's license expires on the 2nd anniversary of the date it was issued on the licensee's birthday date. How many CE hours for licensed adjusters? - correct answer ✅ 24 hrs of CE during 2 yr term, and 3/24 required hrs must relate to "Consumer Protection" CE hours
licensing Practice Exam Questions And
Answers
Years of no longer taking CE hours? - correct answer ✅ 20 consecutive years When should you notify the Commissioner of house address changes, name changes, location of business, or other identifying info? - correct answer ✅Promptly- ASAP How many days in advance will you be notified that your license is expiring? - correct answer ✅60 days Emergency Adjusters in Texas (temp) - correct answer ✅a named catastrophe, 90 days period w/an allowable 90 day extension CE hours consist of the following - correct answer ✅Article 2121, Unfair Claims Settlement Practices Act (542) Unfair Claims Settlement Practices - correct answer ✅Not advising when a claim be reasonable under the provisions of the policy, not allowing to settle the property damage until the bodily injury claim is settled or not having timely contact with the Insured
