TEXAS ADJUSTER STUDY GUIDE ACTUAL EXAM QUESTIONS AND ANSWERS LATEST UPDATE

TEXAS ADJUSTER STUDY GUIDE
ACTUAL EXAM QUESTIONS AND
ANSWERS LATEST UPDATE
Staff Adjuster - ANS ✔✔✔On the payroll of an insurance
company and are paid by a salary or by the hour.
Independent Adjuster - ANS ✔✔✔handle the claims for one or
more insurance companies
Public adjusters - ANS ✔✔✔work on behalf of the insured
How many days notice does the Commissioner need to issue a
temporary license or emergency license for training purposes? -
ANS ✔✔✔5 days
Who regulates the insurance industry? - ANS ✔✔✔Texas
Department of Insurance
Insurance Companies are categorized by domicile. What are the
three domiciles? - ANS ✔✔✔1) Domestic
2) Foreign
3) Alien
Domestic means - ANS ✔✔✔an insurer organized, admitted, and
writing insurance in Texas.
Foreign means - ANS ✔✔✔An insurer domiciled outside of the
state where it writes insurance.
Alien means - ANS ✔✔✔An insurance company organized and
domiciled outside of the United States.
Basic Qualifications for adjusters in Texas - ANS ✔✔✔- they must
be at least 18 years or older
- citizen of Texas or approved by nonresident/s home state.
- if a non resident of the US he must comply with all federal laws
- trustworthy
-sufficient training
- passed an examination
Who is exempt from taking the adjuster exam? - ANS ✔✔✔A
person with a Chartered Property and Casualty Underwriter
(CPCU)
A person holding an Associate in Claims (AIC)
A person whose adjuster license expired within a period less than
a year
How many days does a licensee have to notify the Commissioner
of a name or address change for his place of business? - ANS
✔✔✔30 days
An adjuster's license expires every ____ years. - ANS ✔✔✔2
years
Adjusters or agents may renew a license that is expired within
less than ____ days by paying a renewal fee plus a _____%
penalty - ANS ✔✔✔90 days
50%
If a license is expired for more than _____ days it cannot be
renewed. - ANS ✔✔✔90
To renew a license, how many hours of continuing education
does the adjuster need to complete for every two year cycle?
What percentage needs to be in the classroom?
How many hours need to be ethics? - ANS ✔✔✔24 hours
50%
2 hours
How long does an adjuster need to keep continuing education
records for? - ANS ✔✔✔4 years
What is the duty of the Commissioner? - ANS ✔✔✔To police the
activities of the Insurance Companies and Insurance
Professionals
Commissioners must audit insurance companies every ___ years
and who pays for the audit? - ANS ✔✔✔5 years
Insurance Company
Who is reasonable for licensing property and casualty to ajusters?
- ANS ✔✔✔Texas Department of insurance
Unfair Claims Practices "looks bad + sounds bad = is bad" - ANS
✔✔✔- misrepresenting facts
-failing to promptly acknowledge communications within 15 days.
- failing to adopt reasonable standards
- not attempting in good faith to have prompt, fair and equitable
settlement of claim
- compelling policy holders to sue
- failing to maintain a complete record
- failing to promptly provide claim forms
- not attempting to act in good faith
Insurance companies are ____ party contracts - ANS ✔✔✔2
who are the parties on an insurance contract? - ANS
✔✔✔insured = first party
insurer = second party
business day - ANS ✔✔✔a day other than saturday or sunday or
holiday recognized by the state
Property Removal - ANS ✔✔✔Saving the property from a sure
and certain loss
30 DAYS
What is the pair or set clause? - ANS ✔✔✔value before loss -
what is left = amount of loss
MARIO AND CANDLE STICK EXAMPLE: $3000
What is Coverage E and what is included? - ANS ✔✔✔Personal
Liability coverage
*a person under 13 not knowing right from wrong anything under
age 13 will be covered by personal liability. Anything older, will
not.
**A 13 year old boy covered by HO policy question. Covered due
to non intentional**
What is personal injury? - ANS ✔✔✔BI to include libel, slander,
invasion of privacy, wrongful entry, malicious prosecution, eviction
and false arrest.
Discrimination of any kind is Excluded.
**Tenant entering an apartment question*