Insurance Adjuster Exam Questions and Answers Rated A+

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Insurance Adjuster Exam Questions and Answers Rated A+ Which kind of losses are covered under a standard fire policy? ✔✔Direct All fires are not covered by the Standard Fire policies, only thos... e that: ✔✔are hostile and have a flame or glow At what time does a fire policy go into affect? ✔✔12:01am standard time at the location of the insured's property A property is insured under two Standard Fire policies for $25,000 each. A fire causes $10,000 worth of damage. What is the maximum amount the insured may collect under each policy? ✔✔$5,000 A fire burning in the middle of the living room would be considered: ✔✔a hostile fire An insured's house is damaged by fire caused by a neighbor's negligence. The insurance company will attempt to recover damage from the neighbor. This is called: ✔✔subrogation Which of the following statements are true concerning requirements of the standard fire policy? ✔✔The insured must separate damaged from undamaged property in the event there is a loss AND If a loss occurs, the insured normally has 60 days to file a proof of loss with the insurer Which types of property are excluded from coverage under the basic fire policy? ✔✔accounts, currency, deeds, and securities Who is insured under the Standard Fire policy? ✔✔the named insured and his legal representatives An agreement which affords temporary insurance protection until the policy is issued is called: ✔✔a binder as a general rule, a complete fire insurance policy would be made up of: ✔✔the Standard Fire policy with one or more forms attached The one condition listed below which will not void a fire policy: a) false swearing b) misrepresentation c) over-insurance d) concealment ✔✔over-insurance replacement cost minus depreciation: ✔✔Actual Cash Value (ACV) The Standard Fire policy with an extended coverage endorsement attached covers which of the following: ✔✔riot A loss due to order of Civil Authority: ✔✔is excluded unless the loss occurs because of an order by Civil Authorities for the purpose of controlling a fire The term "unoccupancy" refers to th [Show More]

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