MIKE - CHAPTER 1

career

published on February 08, 201111 responses 1 4.5★ / 5

A commpany staff adjuster or an idependent adjuster represents:

third -party claimants
an insured
an attorney
an insurer 2

Which of the following may legally recieve a fee from a public adjuster?

an independent adjuster
a public adjuster solicitor
a fireman
a contractor

If a public adjuster contract is cancelled, anything of value given by the client (insured) must be returned by the public adjuster within:

5 business days after receipt of cancellation
30 business days after receipt of cancellation
15 business days after receipt of cancellation
10 business days after receipt of cancellation

The maximum fine per violation of the Public Adjusters and Public Adjuster solicitors Act is

$300
$1000
$500
$5000

A public adjuster or public aduster solicitor must notify the insurance deparment withinn how may days of a change of address?

15 days
30 days
10 days
20 days

A public adjuster may not:

Charge late fees to the insured
Charge a maximum dollar amount of the settlement
Vary the percentage charged based upon the size of the loss
Charge a percentage of the settlement 7

A public adjuster must notify the insurer of the execution of a contract within?

15 business days
5 business days
10 business days
30 business days

All of the following characterize the process of claims filed with the insurance departmnet against a public adjuster or public adjuster solicitor except:

It is usually investigated by a local District Attorney
It is usually investigated by the insurance department's local office
It may be appealed to Commonwealth Court
It may involve a vormal hearing in Harrisburg

Which of the following activities would not be a sufficient violation to warrant a fine, suspension, or revocation of a public adjuster or public adjuster solicitor license?

failure to stop at a red light
misrepresenting the terms of an insurance contract
closing a licensee's office for a period in excess of 30 days
conversion of money held on behalf of another person

A public adjuster may represent:

third -party claimants
An insurer
An insured
an attorney

An applicant for a public adjuster license must secure a bond for a minimum of:

$8,000
$20,000
$40,000
$10,000

The Unfair Insurance Practices Act:

regulates trade practice by defining practices that constitue unfair methods of competition and/or deceptive practices
regulates the activities of producers in the excess and surplus lines field
advises insurers and public adjusters of fair and acceptable trade practives
advises the public on fair insurance practices

An insurance company adjuster must acknowledge receipt of a claim:

within 10 working days in all insurances
within 10 working days unless, payment is made within that time period
within 5 working days in all insurances
immediately

All of the following would be considered an Unfair Claims Practice except:

dealing with the insured or claimant in good faith
failure to deny or affirm coverage
failure to acknowledge written or oral communications
refusing to pay covered claims

Which of the following is not a requirement to qualify for a public adjuster or public adjuster solicitor's license

pass the appropriate examination
maintain a bona fide business or legal address in Pennsylvania
be able to read and wirte in the English language
complete a pre-licensing education course

An applicant for a public adjuster of public adjuster license must be at least

19 years old
16 years old
18 years old
21 years old

Under the Public Adjusters and Public Adjuster Solicitors Act, any other than Saturday, Sundayor a holiday is considered a:

business day
adjusting day
work day
calendar day

All of the follwoing are true of public adjuster conracts except;

the contract must be kept on file by thepublic adjuster
the contract must be available for inspection by the insurance department
the contract may be in a written or oral format
the contract must be approved by the insurance comminssioner

The business of insurance is regulated in Pennsylvania by:

the insurance insurance superintendent
the Governor
the insurance commissioner
the Attoorney General

A public adjuster or public adjuster solicitor's license renews:

biannually
annually
every four year
biennially

A public adjuster must submit a copy of the contract t be used in Pennsylvania with the :

National Association of Insurnace Commissioners (NAIC)
Pennsylvania Insurance Department
American Bar Association (ABA)
National Association of Public Insurance Adjuster (NAPA)

A public adjuster contract may be cancelled by the insured at any time prior to the:

Second business day after the execution of the contract
Third business day after the execution of the contract
Fourth calendar day after the execution of the contract
First business day after the exceution date of the contract

The primary purpose of licensing is:

to permit insurers to pay comissions
to provide a source of revenue for the insurance department
to ensure high standards to the insuring public of Pennsylvania
to provide a source of income to producers

An applicant for a public adjuster solicitor license must secure a bond for a minimum of

$20,000
$10,000
$8,000
$40,000