TX ADJUSTER TEST questions and verified answers

Subrogate Subrogation is the right for an insurer to legally pursue a third party that caused an insurance loss to the insured. This is done as a means of recovering the amount of the claim paid by the insurance carrier to the insured for the loss. - correct answer-While investigating a claim, you determine that the loss was caused by a defective mechanism in the dishwasher. You would attempt to_________________________? Appraisal - correct answer-What is the process when an insurer and an insured have a dispute regarding the amount of damage? Material Misrepresentation - correct answer-__________________________________________________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. Age, Condition and Life Expectancy - correct answer-As an adjuster, you should base depreciation on these three factors? Umpire - correct answer-An_________________ is a person hired by the property owner to settle the claim with insurance company on their behalf. HO-A - correct answer-This type of policy provides coverage only for those perils that are listed in the policy