GA Insurance Adjuster Course EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025) Six Special Characteristic of Insurance Contracts - Correct Answers ✅Personal, Adhesion, Utmost Good Faith, Aleatory, Unilateral, Condition Coverage F - Correct Answers ✅Medical Payments Umbrella - Correct Answers ✅An umbrella policy provided liability coverage over and above the normal or base limits of liability in a policy. An umbrella policy is a type of excess policy Risk Transference - Correct Answers ✅Management of severe risk by transferring the risk of another party Risk Avoidance - Correct Answers ✅Eliminates risk by not taking an action that involves risk B.O.P. - Correct Answers ✅Business Owner Package C.P.P - Correct Answers ✅Commercial Package Policies Representation - Correct Answers ✅A statement of a fact 1 / 4
GA Insurance Adjuster Course EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025) Misrepresentation - Correct Answers ✅A false, distorted, or deceitful statement of fact or opinion, even if made unintentionally Personal Contract - Correct Answers ✅Protects the policyholder from financial losses. It does not protect property from becoming damaged. Coverage the follows the person, not the property.Adhesion Contract - Correct Answers ✅The insurer is responsible for the term of the contract. The insured has no say in wording. Courts favor the insured in the event of an ambiguity.Utmost Good Faith Contract - Correct Answers ✅Applicants are expected to be completely honest about the risk to the insurer. The insurer must rely on applicants to conceal or misrepresent pertinent facts.Aleatory Contract - Correct Answers ✅Policy holder could pay more in premiums than they ever get for claims, or insurer could pay more in claims than it recieves.60 - Correct Answers ✅A discovery from commercial crime policy can apply to losses discovered during the policy as well as up to many days after his expiration date. 2 / 4
GA Insurance Adjuster Course EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025) Reciprocal Insurer - Correct Answers ✅An unincorporated organization of subscriber that operates through an attorney in fact to provide insurance benefits for its members Risk Reduction "Risk Mitigation" - Correct Answers ✅Taking measures to reduce the risk involved in an action Risk Retention - Correct Answers ✅Acknowledging the risk and preparing to handle unexpected losses that may occur.Coverage B - Correct Answers ✅Detached Private Structures Coverage D - Correct Answers ✅Loss of use; Fair Rental Value, Additional living expenses Conditional Contract - Correct Answers ✅The insurer only has to perform if certain conditions are met.Unilateral Contract - Correct Answers ✅The insurer has an obligation to pay for covered losses. The insured has no obligation. 3 / 4
GA Insurance Adjuster Course EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025) Concealment - Correct Answers ✅Deliberately withholding relevant information Binder - Correct Answers ✅Temporary coverage for an insurance applicant until the policy is issued $500 - Correct Answers ✅Personal Article Floater have the amount of______deductible Morale Hazard - Correct Answers ✅Takes place when insured acts differently because of the comfort that insurance protection provides.Surety - Correct Answers ✅Guarantees to pay obligee if principal defaults Indemnitor - Correct Answers ✅Fourth Party to a surety bond who agrees to reimburse the surety for losses sustained if the principal defaults Suretyship - Correct Answers ✅An arrangement between three parties in which one party promises to perform for another party, and a third party guarantees they will fulfill that premise
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