ch 5 quiz

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jadeneonsiren
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103107
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ch 5 quiz
Updated:
2011-09-20 16:44:56
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quiz
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Chapter 5 quiz
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  1. A public adjuster represents the interests of:
    A) The insurer
    B) The employer
    C) The interest of the general public
    D) The insured
    D) The insured
    (this multiple choice question has been scrambled)
  2. Which of the following is the type of report that indicates the initial result of a claim investigation?
    A) Field report
    B) Interim report
    C) Full report
    D) None of the above
    A) Full report
    (this multiple choice question has been scrambled)
  3. States have adopted statutes regarding claims adjusting. To avoid unfair treatment to a claimantm, the adjuster must not:
    A) Pay the claim within a reasonable number of days after the final proof of loss has been received.
    B) Deny the claim until a fair and prompt investigation has commenced
    C) Follow the laws regarding the number of days in which to commence an investigation
    D) Promptly invesigate the claim
    B) Deny the claim until a fair and prompt investigation has commenced
    (this multiple choice question has been scrambled)
  4. Which of the following is not a settlement option?
    A) Forcing the insured to sue by offering less than the claim is worth
    B) Replace with new
    C) Repairing property
    D) Replacing with like kind and quality
    A) Forcing the insured to sue by offering less than the claim is worth
    (this multiple choice question has been scrambled)
  5. The giving up of a known right is called:
    A) Estoppel
    B) Violation of policy conditions
    C) Rebating
    D) Waiver
    D) Waiver
    (this multiple choice question has been scrambled)
  6. An innocent party relies on certain statements made by the adjuster and is damaged as a result. The guilty party may be legally prohibited from asserting that the fact does not exist because of:
    A) Waiver
    B) Duties of the adjuster
    C) Estoppel
    C) Law of contract
    C) Estoppel
    (this multiple choice question has been scrambled)
  7. Should an insured fail to report a claim in a timely fashion the adjuster will usually:
    A) Send the insured a reservation of rights letter
    B) Cease investigating
    C) Seek the advice of the company's attorney
    D) Deny the claim
    A) Send the insured a reservation of rights letter
    (this multiple choice question has been scrambled)
  8. A company adjuster primarily represents the interests of:
    A) The claimant
    B) The public
    C) The insurer
    D) The insured
    C) The insurer
    (this multiple choice question has been scrambled)
  9. An adjuster's license will usually be revoked for which of the following reasons:
    A) Having been convicted of a felony
    B) Failing to report a change of address
    C) Denying claims that are not covered
    D) Having been convicted of a misdemeanor
    A) Having been convicted of a felony
    (this multiple choice question has been scrambled)
  10. The insured has been involved in an automobile accident and has sustained bodily injuries and damage to the insured vehicle. The adjuster will usually:
    A) Pay to repair the vehicle and pay the medical bills later
    B) Withhold any payment until all the bills have been reviewed for payment
    C) Pay to repair the damage to the vehicle and require a release for all claims
    D) Pay to repair the damage to the vehicle and obtain a partial release and settle the medical payments later and then seek a final release
    D) Pay to repair the damage to the vehicle and obtain a partial release and settle the medical payments later and then seek a final release
    (this multiple choice question has been scrambled)
  11. Mr. Jones has damaged his vehicle by striking a tree. He can:
    A) Take the car to a repair garage recommended by the insurer
    B) Take the car to a garage of their choice
    C) Accept the payment based on the adjuster's estimate
    D) All of the above
    D) All of the above
  12. In case of a total loss to a vehicle, the adjuster will pay the insured/claimant which of the following:
    A) The cost to replace the vehicle with like kind and quality if a current year model
    B) Use the most recent publication of an "Official Used Car Guide"
    C) If not listed in the "guide", obtain quotations from automobile dealers
    D) All of the above, depending on circumstance
    D) All of the above, depending on circumstance
  13. Which of the following is NOT a claim settlement option for liability claims?
    A) Disfigurement
    B) Loss of use
    C) Lost wages
    D) Excessive amounts claimed
    D) Excessive amounts claimed
    (this multiple choice question has been scrambled)
  14. Which of the following results in immediate payment when the claimant signs a release relinquishing his right to sue?
    A) Structured settlement
    B) Advanced payment
    C) Full release settlement
    D) Scheduled payment release
    C) Full release settlement
    (this multiple choice question has been scrambled)
  15. Which of the following relieves the financial burden on the claimant by making certain payments to the claimant even before the claim can be negotiated?
    A) No Release or Walk-Away
    B) Advanced payment
    C) Open-ended release
    D) Rehabilitation
    B) Advanced payment
    (this multiple choice question has been scrambled)

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