Preview Questions Claims Adjuster | Role Specific Skill

Question 1: What is the most efficient way to summarize key details from large sets of claims documentation?

Which action should you take?

Choose only one option

Ignore the large documents and focus on smaller reports

Create a detailed report that highlights key points such as policy terms, claims history, and any discrepancies

Scan the document and make assumptions based on past experiences

Skim through the documents and note any obvious details

Question 2: When investigating a claim related to a natural disaster, what is the most important step?

Which action should you take?

Choose only one option

Accepting claims based on the claimant's description without verification

Verifying the claimant's location and the timing of the event through official sources

Reviewing social media posts for confirmation of the disaster

Relying solely on photographs submitted by the claimant

Question 3: In the context of property insurance, what does "actual cash value" (ACV) represent?

Which action should you take?

Choose only one option

The market value of the property at the time of the loss

The initial purchase price of the property

The cost to repair or replace the damaged property minus depreciation

The replacement cost of the damaged property without depreciation

Question 4: What is the role of policy exclusions when investigating a claim in BFSI?

Which action should you take?

Choose only one option

Exclusions should only be considered after the claim has been approved

Exclusions should be ignored if the claim amount is within the allowable range

Policy exclusions can determine whether a claim is invalid or not covered under the policy

Exclusions are irrelevant as they do not affect the validity of the claim

Question 5: When assessing the risk of a home insurance claim, how important is the age of the home?

Which action should you take?

Choose only one option

Focus on the home's aesthetics and general condition

The age of the home is not important; focus only on the policy limits

Only consider the age if it's over 50 years old

The age of the home is crucial as older homes may have outdated electrical systems or plumbing, increasing risk

Question 6: When conducting a risk assessment for business interruption insurance, what should be prioritized?

Which action should you take?

Choose only one option

Understanding the nature of the interruption and the client's business continuity plan

Reviewing the market value of the business's assets without considering the disruption

Focusing on the policy's standard exclusions and limitations

Determining if the interruption meets the criteria outlined in the insurance policy