Portfolio Development Flashcards
7 cards from real CA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Portfolio Development flashcards as text
A certified adjuster is assembling a professional development portfolio for CE credit documentation. Which item carries the MOST weight for demonstrating advanced competency?
Answer: Published case studies or peer-reviewed articles on claims handling
Published case studies or peer-reviewed contributions demonstrate subject-matter expertise at an advanced level beyond standard CE coursework.
In developing a large-loss commercial portfolio, an adjuster coordinates with a forensic accountant primarily to:
Answer: Quantify business interruption loss and extra expense
Forensic accountants analyze financial records to calculate actual business interruption loss, extra expense, and lost profits under time-element coverages.
When developing a claims portfolio benchmark, 'frequency' is defined as:
Answer: The number of claims per unit of exposure
Claim frequency measures the number of claims arising per unit of insured exposure, such as per 100 policies or per $1 million of insured value.
A portfolio of auto physical damage claims is reviewed and shows consistent supplement rates above 35%. This MOST likely indicates:
Answer: Initial estimates are regularly insufficient and require revision
High supplement rates indicate that initial damage estimates frequently miss damage found during repair, pointing to insufficient initial inspections.
Which element of a professional adjuster portfolio BEST demonstrates skills in alternative dispute resolution?
Answer: Documentation of successfully mediated or arbitrated claims
Documented outcomes from mediation or arbitration directly evidence the adjuster's practical skill in resolving disputes outside of litigation.
An adjuster managing a portfolio of agricultural property claims must understand that crop insurance indemnities are largely governed by:
Answer: Federal crop insurance program rules under USDA/RMA
Federally reinsured crop insurance is regulated by the USDA Risk Management Agency (RMA), which sets indemnity rules and loss adjustment procedures.
When reviewing a portfolio for excess and surplus (E&S) lines claims, which coverage analysis step is MOST critical before applying standard market policy interpretations?
Answer: Reviewing the manuscript policy language for unique terms
E&S policies often contain manuscript or non-standard language that differs significantly from admitted market forms, making policy-specific language review essential.