ADJUSTER PRO INSURANCE ADJUSTER
TEST 2026 154 QUESTIONS AND ANSWERS
FULL SOLUTION GUIDE 13 PAGES GRADED
A+
⩥ Attending physician statement.
Answer: A report ordered by the insurance company and completed by a
physician, hospital or medical facility who has treated, or who is
currently treating, a person seeking insurance.
⩥ Backdating.
Answer: The practice of making a policy effective at an earlier date than
the present.
⩥ Binding recipt.
Answer: Binding Receipts are also known as unconditional receipts. It is
one of the types of receipts given by an insurance company upon the
completion of an insurance application if the initial premium is collected
with the application. Insurance becomes effective on the receipt date and
continues for a specified period of time or until the insurer declines the
application.
⩥ Buyer's Guide.
,Answer: A booklet that describes insurance policies and concepts, and
provides general information to help an applicant make an informed
decision.
⩥ Conditional receipt.
Answer: An interim insuring agreement under which the insurance
company agrees to start coverage on the later of either the date of
application or the date of the medical exam IF the proposed insured is
found to be insurable on that date.
⩥ Consumer report.
Answer: A written and/or oral statement regarding a consumer's credit,
character, reputation, or habits collected by a reporting agency from
employment records, credit reports, and other public sources.
⩥ Credit report.
Answer: A detailed report of an individual's credit history.
⩥ Declined risk.
Answer: Describes an individual whose application for coverage was
rejected by an insurance company.
⩥ Disclosure form.
, Answer: A comparison form required by various state regulatory
agencies to be given to every policy owner when replacing an existing
policy with another.
⩥ Evidence of insurability.
Answer: Evidence of Insurability describes a statement or proof of a
person's health history and current health status that qualifies that person
for coverage.
⩥ Fair credit reporting act.
Answer: Act that protects privacy of background information and
ensures that information supplied is accurate.
⩥ Field underwriter.
Answer: An insurance agent who conducts an initial policy solicitation
and application. (The company's front line of underwriting).
⩥ Cross-purchase plans.
Answer: Cross-Purchase Plans are agreements that provide that upon a
business owner's death, surviving owners will purchase the deceased's
interest, often with funds from life insurance policies owned by each
principal on the lives of all other principals.
⩥ Entity plans.
TEST 2026 154 QUESTIONS AND ANSWERS
FULL SOLUTION GUIDE 13 PAGES GRADED
A+
⩥ Attending physician statement.
Answer: A report ordered by the insurance company and completed by a
physician, hospital or medical facility who has treated, or who is
currently treating, a person seeking insurance.
⩥ Backdating.
Answer: The practice of making a policy effective at an earlier date than
the present.
⩥ Binding recipt.
Answer: Binding Receipts are also known as unconditional receipts. It is
one of the types of receipts given by an insurance company upon the
completion of an insurance application if the initial premium is collected
with the application. Insurance becomes effective on the receipt date and
continues for a specified period of time or until the insurer declines the
application.
⩥ Buyer's Guide.
,Answer: A booklet that describes insurance policies and concepts, and
provides general information to help an applicant make an informed
decision.
⩥ Conditional receipt.
Answer: An interim insuring agreement under which the insurance
company agrees to start coverage on the later of either the date of
application or the date of the medical exam IF the proposed insured is
found to be insurable on that date.
⩥ Consumer report.
Answer: A written and/or oral statement regarding a consumer's credit,
character, reputation, or habits collected by a reporting agency from
employment records, credit reports, and other public sources.
⩥ Credit report.
Answer: A detailed report of an individual's credit history.
⩥ Declined risk.
Answer: Describes an individual whose application for coverage was
rejected by an insurance company.
⩥ Disclosure form.
, Answer: A comparison form required by various state regulatory
agencies to be given to every policy owner when replacing an existing
policy with another.
⩥ Evidence of insurability.
Answer: Evidence of Insurability describes a statement or proof of a
person's health history and current health status that qualifies that person
for coverage.
⩥ Fair credit reporting act.
Answer: Act that protects privacy of background information and
ensures that information supplied is accurate.
⩥ Field underwriter.
Answer: An insurance agent who conducts an initial policy solicitation
and application. (The company's front line of underwriting).
⩥ Cross-purchase plans.
Answer: Cross-Purchase Plans are agreements that provide that upon a
business owner's death, surviving owners will purchase the deceased's
interest, often with funds from life insurance policies owned by each
principal on the lives of all other principals.
⩥ Entity plans.
