MIKE - CHAPTER 1 career nancyann published on February 08, 20112 responses 1 « Previous Next » Questions in vertical order 1/24 A commpany staff adjuster or an idependent adjuster represents: third -party claimants an insured an attorney an insurer 2 2/24 Which of the following may legally recieve a fee from a public adjuster? an independent adjuster a public adjuster solicitor a fireman a contractor 3/24 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 4/24 The maximum fine per violation of the Public Adjusters and Public Adjuster solicitors Act is $300 $1000 $500 $5000 5/24 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 6/24 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 7/24 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 8/24 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 9/24 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 10/24 A public adjuster may represent: third -party claimants An insurer An insured an attorney 11/24 An applicant for a public adjuster license must secure a bond for a minimum of: $8,000 $20,000 $40,000 $10,000 12/24 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 13/24 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 14/24 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 15/24 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 16/24 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 17/24 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 18/24 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 19/24 The business of insurance is regulated in Pennsylvania by: the insurance insurance superintendent the Governor the insurance commissioner the Attoorney General 20/24 A public adjuster or public adjuster solicitor's license renews: biannually annually every four year biennially 21/24 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) 22/24 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 23/24 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 24/24 An applicant for a public adjuster solicitor license must secure a bond for a minimum of $20,000 $10,000 $8,000 $40,000
