West Virginia Adjusters Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the West Virginia Adjusters Exam. Study with flashcards and multiple-choice questions, each question has hints and explanations. Get ready for your exam!

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.

When an insurer takes no action upon realizing material changes in a contract, this is called:

an implied waiver.
an express waiver.
a negligence waiver.
a silent waiver.

The correct answer is: an implied waiver.

An implied waiver is when an insurer takes no action upon realizing material changes in a contract. This is different from an express waiver, where the insurer explicitly waives certain terms or conditions in the contract. A negligence waiver is unrelated to this concept, as it pertains to waiving liability for negligence. A silent waiver is also incorrect, as it implies the insurer has taken no action, but in this scenario, the insurer has deliberately chosen not to take action.