TEXAS ALL LINES ADJUSTER EXAM ACTUAL EXAM 2024

TEXAS ALL LINES ADJUSTER EXAM ACTUAL EXAM 2024 What is the failure to use that degree of care which n ordinary person of reasonable prudence would use under similar circumstances? Negligence What is a situation involving a person other than an insured? Third Party Loss What is the responsibility to another for one's negligence? Liability Mary has a homeowner's policy. Her Coverage A limit of liability is $250,000 and her Coverage B limit of liability is $125,000. Her policy has a 2% deductible. What is her deductible? $5,000 The part of the insurance policy that details the rights and duties of the insured and the insurance company in the policy? Conditions What is a partial legal defense that reduces the amount of damages that a person can recover based upon the amount that this person's own negligence contributed to the loss? Comparative Negligence Value of property based on the current cost to replace it minus depreciation? Actual Cash Vale This type of Auto Coverage pays for your damages if you were involved in a hit and run: Uninsured Motorist What is the cost associated with replacing property at current market prices? Replacement Cost The process when an insurer and insured have a dispute regarding the amount of the damage: Appraisal The intentional misrepresentation of a material fact that may void a contract? Fraud What is the type of negotiation that is also sometimes called positional or hard-bargaining? Distributive An event that results in an insured loss and damages? Occurrence