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Oregon Adjuster's Examination — General Lines Insurance — Information & Free Practice

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Oregon Adjuster's Examination — General Lines Insurance

Provider
PSI Services LLC
Format
Computer-administered written examination
Exam questions
150 scored questions
Time limit
2.5 hours
Passing score
70%
Examination outline
  • Insurance Regulation (10%)
    • Licensing requirements (ORS 744.505)
    • Licensing exceptions (ORS 744.515)
    • Qualifications (ORS 744.002, .525)
    • Types of licensees
    • General lines adjuster (ORS 744.531)
    • Nonresident adjuster (ORS 744.528, .538)
    • Temporary adjuster permit (ORS 744.555)
    • Maintenance and duration
    • Renewal (ORS 744.008, .009(1))
    • Expiration (ORS 744.007)
    • Nonrenewal (ORS 744.009(2))
    • Notification of change, deletion, or addition of an assumed business name (ORS 744.028(2))
    • Change of address or telephone number (ORS 744.028(1))
    • Disciplinary actions
    • Cease and desist orders (ORS 731.252)
    • License probation, suspension, revocation or refusal to issue or renew (ORS 744.013, .014, .074)
    • Civil penalty (ORS 731.988)
    • Criminal penalty (ORS 731.992)
    • Claim settlement laws and regulations
    • Director's enforcement authority (ORS 731.256)
    • Director's inquiries (ORS 731.296)
    • Unfair claim settlement practices (ORS 746.230; OAR 836‐080‐0205 to 0250)
    • Misrepresentation and other prohibited claim practices (OAR 836‐080‐0220)
    • Required claim communications practices (OAR 836‐080‐0225)
    • Standard for prompt claim investigation (OAR 836‐080‐0230)
    • Standard for prompt and fair settlements General (OAR 836‐080‐0235)
    • Standard for auto total loss (OAR 836‐080‐0240)
    • Adjustment of claims under policy issued by unauthorized insurer (ORS 744.541)
    • Regulation for automobile insurance claims
    • Designation of repair shop prohibited (ORS 746.280, .290)
    • Proof and amount of loss determination (ORS 746.295)
    • Liability for damages; attorney fees (ORS 746.300)
  • Federal Laws and Regulations (5%)
    • 18 United States Code (USC) Sections 1033 and 1034 ‐ purpose
    • Privacy (Gramm‐Leach‐Bliley)
    • National Flood Insurance Program (NFIP)
    • Terrorism Risk Insurance Act
    • Motor Carrier Act (MCS‐90 and Others)
  • General Insurance Concepts (10%)
    • Risk
    • Methods of handling risk (e.g., avoidance, retention, sharing, reduction, transfer)
    • Elements of insurable risks
    • Definitions (e.g., risk, hazard, peril, loss)
    • Classifications of insurers
    • Mutual, stock
    • Admitted, non‐admitted
    • Foreign, domestic, alien
    • Elements of a contract
    • Offer
    • Acceptance
    • Consideration
    • Competent parties
    • Legal purpose
    • Authority and powers of producers
    • Express
    • Implied
    • Apparent
    • The Law of Agency
    • Legal interpretations affecting contracts
    • Reasonable expectations
    • Indemnity
    • Good faith
    • Warranties, representations, misrepresentations, and concealment
    • Fraud
  • Property and Casualty Insurance Basics (20%)
    • Insurable interest
    • Types of hazards
    • Negligence
    • Torts
    • Elements of a negligent act
    • Defenses against negligence
    • Liability
    • Absolute
    • Strict
    • Vicarious
    • Underwriting
    • Purpose
    • Process
    • Results
    • Rate development
    • Types
    • Components
    • Basis
    • Types of perils
    • Types of loss
    • Direct
    • Indirect
    • Specific, scheduled, and blanket insurance
    • Basic types of construction
    • Loss valuation
    • Actual cash value
    • Replacement cost
    • Functional replacement cost
    • Market value
    • Agreed value
    • Valued policy
    • Accident versus occurrence
    • Policy structure
    • Declarations
    • Definitions
    • Insuring agreement
    • Additional/supplementary coverage
    • Conditions
    • Exclusions
    • Endorsements
    • Policy clauses
    • Insureds
    • Policy period
    • Policy territory
    • Cancellation and non‐renewal
    • Deductibles
    • Other insurance
    • Nonconcurrency
    • Primary and excess
    • Pro rata
    • Contribution by equal shares
    • Limits of liability
    • Per accident
    • Per occurrence
    • Per person
    • Aggregate
    • Split limits
    • Combined single limit
    • Coinsurance
    • Purpose
    • Definition
    • Calculation
    • Penalties
    • Total versus partial Loss
    • Vacant versus unoccupied
    • Named insured provisions
    • First named insured versus other insureds
    • Duties after loss
    • Assignment
    • Waiver of rights
    • Insurer provisions
    • Liberalization
    • Subrogation
    • Claim settlement options
    • Duty to defend
    • Third‐party provisions
    • Standard mortgage clause
    • Loss payable clause
    • No benefit to the bailee
    • Oregon laws, regulations and required provisions
    • Oregon Insurance Guaranty Association (ORS 734.510 to .710)
    • Cancellation and nonrenewal
    • Commercial liability (ORS 742.700 to .710)
    • Property (ORS 742.224, 746.686‐687)
    • Automobile (742.560‐.572)
    • Suit against insurer (ORS 742.240)
    • Concealment, misrepresentation or fraud (ORS 742.013, .208, .562(1)(b), .702(1)(b); 746.075, .100, .110)
  • Adjustment Process (17%)
    • Claim notification process
    • Date of loss
    • Location
    • Parties involved
    • Type of loss (e.g., liability, property)
    • Investigation and evaluation of loss/claim information
    • Determination of applicable coverage
    • Inquiry into relevant information
    • Purpose of loss reserves
    • Remedies for disputes
    • Appraisal
    • Arbitration (binding and unbinding)
    • Mediation (binding and unbinding)
    • Litigation
    • Finalization of claim
    • Denial
    • Settlement
    • Closing claim
  • Dwelling Policy Concepts (4%)
    • Purpose and eligibility
    • Perils insured against
    • Basic
    • Broad
    • Special
    • Property coverages
    • Coverage A — Dwelling
    • Coverage B — Other structures
    • Coverage C — Personal property
    • Coverage D — Fair rental value
    • Coverage E — Additional living expense
    • Other coverages
    • Dwelling property exclusions
    • Dwelling property conditions
    • Dwelling property endorsements
    • Personal liability supplement
    • Coverage L ‐ Personal Liability
    • Coverage M ‐ Medical Payments to Others
  • Homeowners Policy Concepts (9%)
    • Eligibility and Purpose
    • Homeowners policy coverage forms
    • Broad (HO‐2)
    • Special (HO‐3)
    • Contents broad (HO‐4)
    • Comprehensive (HO‐5)
    • Unit‐owners (HO‐6)
    • Modified coverages (HO‐8)
    • Definitions
    • Section I — Property coverages
    • Coverage A — Dwelling
    • Coverage B — Other structures
    • Coverage C — Personal property
    • Coverage D — Loss of use
    • Additional coverages
    • Section II — Liability coverages
    • Coverage E — Personal liability
    • Coverage F — Medical payments to others
    • Additional coverages
    • Homeowners policy exclusions
    • Section I‐Property covered exclusions
    • Section II ‐ Liability covered exclusions
    • Homeowners policy conditions
    • Homeowners policy endorsements
    • Special provisions
    • Earthquake
    • Personal property replacement cost
    • Home day care — Oregon
    • Business pursuits
    • Watercraft
    • Personal injury
    • Ordinance or law
    • Scheduled personal property/personal articles floater
  • Personal Automobile Policy (10%)
    • Laws
    • Oregon Motor Vehicle Financial Responsibility Law
    • Required motor vehicle limits of liability (ORS 806.070, .075)
    • Other ways to prove responsibility (ORS 806.011, .060, .080)
    • Personal injury protection definitions (ORS 742.518–.544)
    • Medical
    • Loss of income
    • Funeral
    • Essential services
    • Exclusions from coverage
    • Arbitration
    • Day Care
    • Uninsured and underinsured motorist coverage (ORS 742.500–.510)
    • Definitions
    • Bodily injury
    • UM and UIM rejection
    • Aftermarket Crash Parts Act (ORS 746.287, .289, .292)
    • Total Loss (ORS 742.554, 801.527, 819.014), (OAR 836.080.0240)
    • Definitions
    • Liability coverage
    • Bodily injury and property damage
    • Supplementary payments
    • Exclusions
    • Medical payments coverage
    • Coverage for damage to your auto
    • Collision
    • Other than collision (comprehensive)
    • Deductibles
    • Exclusions
    • Duties after an accident or loss
    • General provisions
    • Endorsements
    • Amendment of policy provisions
    • Towing and labor costs
    • Extended non‐owned coverage — vehicles furnished or available for regular use
    • Joint ownership coverage
    • Rental vehicle coverage
  • Commercial Automobile Policy (3%)
    • Commercial auto coverage forms
    • Covered automobiles
    • Hired automobiles
    • Non‐owned automobiles
    • Liability
    • Physical damage
    • Exclusions
    • Conditions
    • Definitions
    • Selected endorsements
    • Lessor — additional insured and loss payee
    • Mobile equipment
    • Broad form products
    • Employees as insureds
    • Property protection coverage
  • Commercial General Liability (3%)
    • Commercial policy components
    • Declarations
    • Conditions
    • Interline endorsements
    • Commercial general liability coverage
    • Bodily injury and property damage
    • Personal and advertising injury
    • Medical payments
    • Conditions
    • Definitions
    • Exclusions
    • Occurrence versus claims‐made
    • Commercial general liability exposures
    • Premises and operations
    • Products and completed operations
    • Contractual liability
  • Commercial Property Policies (3%)
    • Commercial package policy
    • Purpose
    • Definition
    • Coverages
    • Coverage extensions
    • Commercial policy components
    • Declarations
    • Conditions
    • Insuring agreements
    • Exclusions
    • Commercial property forms
    • Coverage forms for building and business personal property
    • Builders risk
    • Business income
    • Legal liability
    • Extra expense
    • Causes of loss forms
    • Commercial crime
    • Commercial property endorsements
    • Ordinance or law
    • Spoilage
    • Peak season limit of insurance
    • Value reporting form
    • Earthquake
    • Equipment breakdown coverages
    • Commercial inland marine ‐ purpose
    • Ocean marine (distinction between inland and ocean)
    • Farm property
    • Definitions
    • Conditions and exclusions
    • Coverages
  • Workers' Compensation Insurance (2%)
    • Oregon Workers' Compensation Law (ORS Chapter 656)
    • Exclusive remedy (ORS 656.018)
    • Other sources of coverage
    • Oregon Workers' Compensation Fund Insurance Plan (ORS 656.730; OAR 836‐043‐0001–0091)
    • Self‐insured employers and employer groups (ORS 656.403, .407)
  • Other Types of Insurance Policies (4%)
    • Personal umbrella, commercial umbrella, and excess policies
    • Underlying limits
    • Self‐insured retention
    • Surplus lines (ORS Sec. 735.410, .415)
    • Definitions and markets
    • Licensing requirements
    • Residual markets
    • Joint Underwriting Association (ORS 735.200‐.260; 737.390)
    • Oregon FAIR Plan Association (ORS 735.005, .015, .045)
    • Mobile home policy (insuring agreement)
    • Earthquake insurance (insuring agreement)
    • Deductible
Examination sources