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Module 1 - Quiz - Introduction to Loss Inventory Services
You'll need to correctly answer at least 8 of the 10 questions below (at least 80%) to progress to the next unit.
Question #1: When providing a loss inventory, you will most likely find the client stressed out and possibly very short tempered. It is important to maintain a friendly, respectful voice and actions.
Question #2: When someone has a loss, the insurance company has a duty to provide coverage even if the policyholder does not comply with specified duties.
Question #3: Covered personal property losses are settled at actual cash value at the time of loss but not more than the amount required to repair or replace the items.
Question #4: You can better serve your loss inventory client if you educate yourself on the basics of insurance and the loss recovery process.
Question #5: Since you are hired by the client, it is not recommended to introduce yourself to the adjuster and insurance agent.
Question #6: When items are completely destroyed beyond recognition, there is no way the client can remember and claim these items.
Question #7: Your client will be the most important and most beneficial source to enable you to locate accurate prices when it’s time to assign values.
Question #8: There are three major hazards a loss inventory professional should watch for: 1) animals, 2) falls, and 3) electrical hazards.
Question #9: The Insurance Services Office states that after a loss, the policyholder or a representative is to prepare an inventory of damaged personal property showing the quantity, description, actual cash value, and amount of loss.
Question #10: One of the hazards you could face when providing loss inventory services is the presence of either wild and domestic animals.