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Oklahoma Public Adjuster Practice Exam

20 exam-style questions drawn from the same bank as our full Oklahoma Public Adjuster course (Oklahoma Public Adjuster — Exam Prep). Answer all 20, then grade yourself — most state exams require 70% to pass. Explanations for every question are part of the full course.

1. The agreed value option on a commercial property policy:
Doubles the coinsurance penalty on any covered lossEliminates the policy deductible on any covered loss entirelyConverts the whole policy over to an actual cash value basisSuspends the coinsurance condition for the scheduled period
2. A state insurance department consumer complaint is most useful for:
Recovering the full disputed amount of the loss from the carrier as money damagesReplacing the appraisal process entirely as the mechanism for setting the amount of lossObtaining a binding, enforceable determination of the disputed policy coverage questionCarrier conduct issues — it requires a carrier response but is not a forum for awarding damages
3. After a covered loss, the insured leaves a hole in the roof open to the weather for weeks, and interior damage worsens. Under the duty to mitigate, the additional interior damage is:
At risk of being denied as loss that compounded through the insured's inactionFully payable in every case, because mitigation is entirely voluntaryAutomatically added to the claim's recoverable depreciation holdback amountPayable only if the carrier had pre-approved each of the interior repairs
4. Which of the following is a duty the NAIC Unfair Claims Settlement Practices Act (model) imposes on carriers?
Waive all of the policy's conditions automatically whenever a declared catastrophe occursSet the internal claim reserve at exactly the amount of the public adjuster's own estimatePay every submitted claim in full regardless of what the coverage investigation actually revealsAttempt in good faith to effectuate a prompt, fair, and equitable settlement once liability is reasonably clear
5. Which ordering correctly reflects the dispute-resolution ladder from the cheapest first step to the last resort?
Department of insurance complaint, then litigation, then a supplement, then appraisal, then mediationLitigation, then mediation, then appraisal, then a department of insurance complaint, then a supplementAppraisal, then litigation, then a supplement, then mediation, then a department of insurance complaintRe-inspection and supplement, appraisal, department of insurance complaint, mediation, litigation or arbitration
6. The most common covered-auto symbol for physical damage coverage on the Business Auto Coverage Form is:
Symbol 9 — non-owned autos used in the business but not owned or hiredSymbol 7 — specifically described autos (scheduled vehicles only)Symbol 1 — any auto, the broadest designation used chiefly for liabilitySymbol 19 — mobile equipment subject to compulsory insurance laws
7. In line-item estimating, a "detach-and-reset" line differs from "remove-and-replace" (R&R) because detach-and-reset covers items that are:
Removed and reinstalled undamaged, rather than replaced with new materialRepaired in place without ever being detached or moved from the wallPermanently removed from the structure and never replaced at allReplaced with functionally equivalent but noticeably cheaper materials
8. An advance-payment receipt in first-party claim practice is used to:
Transfer the claim to the state insurance departmentSettle the entire claim and close the fileAcknowledge funds received without releasing any claimsWaive the insured's right to recoverable depreciation
9. A rock kicked up by a passing mower cracks the insured's windshield. Under Part D this loss is classified as:
Liability — the operator who launched the rock is the one who paysExcluded — cracked windshield glass is never covered under Part DCollision — striking any flying object is treated as a collisionOther than collision — glass breakage is on the OTC peril list
10. A client's car is stolen and recovered two weeks later with damage. What does Part D owe?
Nothing at all, because a stolen vehicle later recovered is treated as though it was never stolen, cancelling both the collision repair obligation and any transportation expenses owedThe full outstanding loan payoff on the vehicle, because a theft loss under Part D is settled on a replacement-cost basis rather than actual cash value once the car is recovered damagedOnly the transportation expenses that accrued while the car was missing, but never the collision repair, because Part D stops paying the moment a stolen vehicle is recovered and returnedThe repair cost (or ACV if totaled) under OTC — theft is an OTC peril — plus transportation expenses from 48 hours after the theft until the vehicle is returned or its loss is paid
11. The dividing line between the association's master policy and the unit owner's HO-6 is set primarily by:
The individual condominium unit owner's mortgage lenderThe adjuster's own working assumptions about coverageThe county property appraiser's official assessment recordThe condominium declarations and bylaws (governing documents)
12. A carrier settles a loss to plaster walls by paying to replace them with drywall — a less costly but functionally equivalent material. Which valuation method is this?
Market valueFunctional replacement costActual cash valueAgreed value
13. A defensible manufactured-home total-loss valuation includes the bare unit price PLUS:
Only the applicable state and local sales tax owed on the replacement unitNothing further at all, because the bare unit price is the complete measureThe current market value of the underlying rented lot that the home sits onTransport, setup and blocking, anchoring, utility connections, skirting, and steps
14. A dealership's exposure for damage to its own vehicle inventory sitting on the lot is insured under:
Dealers physical damage ("dealers open lot") coverage, often on a reporting basis, with false pretense as a distinctive optional perilThe customers' own auto physical damage policies, which follow each buyer's vehicle onto the lot until the sale finally closesMechanical breakdown insurance covering sudden failure of the drivetrain components on each unsold car sitting in inventoryGaragekeepers legal-liability coverage, which responds only when the dealer is legally at fault for damage to a customer's car
15. A homeowner discovers hidden damage in October and reports it, but the loss actually occurred during a windstorm two months after the policy period had already ended. What is the coverage result?
Covered — discovery of the damage within a reasonable time revives the expired policy periodCovered — hidden damage is always legally deemed to occur on the date it is first discoveredCovered — the claim was properly reported while a later renewal policy was in forceNot covered — losses outside the policy period are not covered regardless of when discovered
16. The insured's consideration for an insurance contract consists of:
The premium plus the statements made in the applicationThe premium aloneThe signed acknowledgment of the policy's exclusionsThe promise to file claims honestly after a loss
17. For autos, actual cash value is typically established as:
The insured's outstanding loan balance at the moment of loss, since the payoff figure sets the vehicle's insurable valueThe manufacturer's original window-sticker price reduced by a fixed depreciation percentage for each year the vehicle was ownedReplacement cost of an equivalent new vehicle minus straight-line depreciation spread evenly across its expected useful lifeA market value — via valuation-service reports comparing similar local vehicles, adjusted for mileage, options, and condition
18. The mnemonic DICEE, used to analyze most property and casualty policies, stands for Declarations, Insuring agreement, Conditions, Exclusions, and:
EstimatesEvidence rulesEndorsementsEscrow terms
19. On the Business Auto Coverage Form, covered-auto symbol 1 designates:
Any auto — the broadest symbol, typically used for liability coverageSpecifically described autos only — the scheduled vehicles listed on the formHired autos only — vehicles the insured leases, rents, hires, or borrowsOwned autos only — the symbol for vehicles the named insured holds title to
20. For property insurance, when must insurable interest exist for the insured to recover?
At the time of lossBoth at inception and at the time of lossAt policy inceptionAt any point during the policy period

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