TX ADJUSTER TEST
TX ADJUSTER TEST
Study online at https://quizlet.com/_3ngxcj
1. Subrogate Subrogation is the right for While investigating a claim, you determine that
an insurer to legally pursue a third par- the loss was caused by a defective mecha-
ty that caused an insurance loss to the nism in the dishwasher. You would attempt
insured. This is done as a means of re- to_________________________?
covering the amount of the claim paid
by the insurance carrier to the insured
for the loss.
2. Appraisal What is the process when an insurer and an
insured have a dispute regarding the amount of
damage?
3. Material Misrepresentation ___________________________________________
is a significant misstatement in an application
form. If a company had access to the correct
information at the time of application, the
company might not have agreed to accept the
application.
4. Age, Condition and Life Expectancy As an adjuster, you should base depreciation on
these three factors?
5. Umpire An_________________ is a person hired by the
property owner to settle the claim with insurance
company on their behalf.
6. HO-A This type of policy provides coverage only for
those perils that are listed in the policy?
7. Additional Living Expenses _________________________ are extra
charges covered by homeowner's policies over
and above the policyholder's customary living
expenses.
1 of 15
, TX ADJUSTER TEST
TX ADJUSTER TEST
Study online at https://quizlet.com/_3ngxcj
8. Occurrence _______________________is an event that re-
sults in an insured loss/damages?
9. Actual Cash Value What is value of your property, based on the
current cost to replace it, minus depreciation?
10. Incurred Expenses Expenses that have already sustained and
that have not yet been paid are known as
____________________________________.
11. Declarations Page ________________________________is the
part of the written insurance policy that states all
the policy's specific's, including the name of the
policyholder, the type of property insured, the
premiums, and the term limits for the coverage.
12. Negligence What is the failure to use that degree of care
which an ordinary person of reasonable pru-
dence would use under similar circumstances?
13. Overhead and Profit ______________________________is the
amount of money dedicated to a general con-
tractor's cost of doing a business and earning a
profit.
14. Third Party Loss ____________________________is a situation
involving a person other than an insurer and the
insured.
15. Reserves What is the amount representing actual or po-
tential liabilities kept by and insurer to cover
debts to policyholder?
2 of 15
TX ADJUSTER TEST
Study online at https://quizlet.com/_3ngxcj
1. Subrogate Subrogation is the right for While investigating a claim, you determine that
an insurer to legally pursue a third par- the loss was caused by a defective mecha-
ty that caused an insurance loss to the nism in the dishwasher. You would attempt
insured. This is done as a means of re- to_________________________?
covering the amount of the claim paid
by the insurance carrier to the insured
for the loss.
2. Appraisal What is the process when an insurer and an
insured have a dispute regarding the amount of
damage?
3. Material Misrepresentation ___________________________________________
is a significant misstatement in an application
form. If a company had access to the correct
information at the time of application, the
company might not have agreed to accept the
application.
4. Age, Condition and Life Expectancy As an adjuster, you should base depreciation on
these three factors?
5. Umpire An_________________ is a person hired by the
property owner to settle the claim with insurance
company on their behalf.
6. HO-A This type of policy provides coverage only for
those perils that are listed in the policy?
7. Additional Living Expenses _________________________ are extra
charges covered by homeowner's policies over
and above the policyholder's customary living
expenses.
1 of 15
, TX ADJUSTER TEST
TX ADJUSTER TEST
Study online at https://quizlet.com/_3ngxcj
8. Occurrence _______________________is an event that re-
sults in an insured loss/damages?
9. Actual Cash Value What is value of your property, based on the
current cost to replace it, minus depreciation?
10. Incurred Expenses Expenses that have already sustained and
that have not yet been paid are known as
____________________________________.
11. Declarations Page ________________________________is the
part of the written insurance policy that states all
the policy's specific's, including the name of the
policyholder, the type of property insured, the
premiums, and the term limits for the coverage.
12. Negligence What is the failure to use that degree of care
which an ordinary person of reasonable pru-
dence would use under similar circumstances?
13. Overhead and Profit ______________________________is the
amount of money dedicated to a general con-
tractor's cost of doing a business and earning a
profit.
14. Third Party Loss ____________________________is a situation
involving a person other than an insurer and the
insured.
15. Reserves What is the amount representing actual or po-
tential liabilities kept by and insurer to cover
debts to policyholder?
2 of 15
