Arkansas Insurance Adjuster Practice Exam

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Prepare for the Arkansas Insurance Adjuster Exam with flashcards and multiple choice questions, each offering hints and explanations. Equip yourself for your test confidently!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which statement is FALSE about an insurance adjuster acting as a fiduciary agent?

The adjuster may not act with any notion of self-interest.
The adjuster may not give the claimant materials showing how he came up with a settlement amount.
The adjuster may not profit from the relationship without consent.
The adjuster cannot maintain a conflict of interest.

The correct answer is: The adjuster may not give the claimant materials showing how he came up with a settlement amount.

An insurance adjuster acting as a fiduciary agent is responsible for acting in the best interest of the claimant and must not have any self-interest in the outcome. This means that the adjuster cannot benefit in any way from the settlement process. Therefore, options A, C, and D are correct statements about an insurance adjuster acting as a fiduciary agent. Option B is false because the adjuster is required to provide the claimant with a full explanation of how they arrived at the settlement amount, including supporting materials. This is necessary for transparency and fairness in the process.