Adjuster license practice test exam 2023/2024 with 100% complete solutions

The purpose of the principle of indemnity is correct answersto prevent an insured from making a profit on a loss. Jerrod is awarded $4000 in a court case after Ollie accidentally starts a fire and burns down his detached garage. This award is an example of correct answersspecial damages Which of the following best describes a Fraternal Benefit Society correct answersA fraternal benefit society is a social organization based around common interests and beliefs. SureTrust Insurance was founded and operates in Texas. In Texas, SureTrust is considered: correct answersa domestic insurer. Jackie files a lawsuit against Ginger after Ginger's three-year-old daughter ruins Jackie's laptop during a flight. When they go to court, Jackie is the correct answersplaintiff A captive insurance company correct answersexists solely to provide insurance for its parent company. Which of the following is NOT a qualification of an insurable risk correct answersAn insurable risk must have guaranteed protection from damage Five years ago, when Rosamund was one year old, she had an expensive procedure done to remove what a doctor said was a cancerous tumor behind her knee. Her parents have recently discovered, upon the return of her condition, that the growth was merely a harmless cyst and not a dangerous tumor. Will the Statute of Limitations allow her parents to file a suit against the doctor? correct answersYes; suits for Medical Malpractice are allowed until the child is eight years old Which of the following statements about a moral hazard is FALSE? correct answersIt is the result of an unconscious behavior.