Public Adjuster Exam Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) Public Adjuster - Correct Answers ✅Person, partnership, that represents the public as an adjuster of claims Days to rescind a contract - Correct Answers ✅3 calendar days Public Adjuster minimum standards - Correct Answers ✅Title must read Public Adjuster contract Name phone number address and business name of Adjuster Address of the insured and name Percentage of the payments received execution date and signatures right to cancel How can an adjuster collect his fee? - Correct Answers ✅a percentage of each check, not the lump sum 1 / 3
Public Adjuster Exam Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) Are late fees or collection costs prohibited? - Correct Answers ✅Yes Refund payments, return instruments, and take necessary actions under contract - Correct Answers ✅15 working days Notify an insurer of contract execution, communicate in writing, reply to written communication from an insurer - Correct Answers ✅2 business days Acknowledge receipt of a claim - Correct Answers ✅10 working days Provide claim forms and reasonable assistance - Correct Answers ✅10 working days Respond to an insurance department inquiry - Correct Answers ✅15 working days Complete investigation - Correct Answers ✅30 working days accept or deny a claim after proof of loss is executed - Correct Answers ✅15 working days 2 / 3
Public Adjuster Exam Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) Elements of a contract - Correct Answers ✅Agreement, Consideration, Competent Parties, Legal purpose Contract of Adhesion - Correct Answers ✅No opportunity to change, must be adhered to Aleatory Contracts - Correct Answers ✅Based upon the occurrence of a future event of unequal bargaining value Personal Contract - Correct Answers ✅Highest degree of good faith Unilateral contract - Correct Answers ✅Act exchanged for a promise Conditional Contract - Correct Answers ✅contingent upon certain acts by the insured Ambiguities - Correct Answers ✅not being clear, goes against the insurance company Indemnity - Correct Answers ✅Principle of restoring the extent of the loss
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