TEXAS ADJUSTER ALL-LINES LICENSE 2
EXAM ALREADY GRADED A+ LATEST
EXAM!!!
Third party loss - ANS✔✔---___________ is a situation involving a person
other than an insurer and the insured.
Liability - ANS✔✔---What is the responsibility to another for one's
negligence?
First party loss - ANS✔✔---This loss involves only the insurer and the
insured?
Severity - ANS✔✔---___________ is the size of a loss, the extent of the
damages.
Premium - ANS✔✔---___________ is the amount paid by an insured to an
insurance company to obtain or maintain an insurance policy.
,Replacement cost - ANS✔✔---___________ is the cost to replace property
at current market prices.
Policy period - ANS✔✔---The period a policy is in force, from the effective
date to the expiration date?
Deductible - ANS✔✔---The amount the insured must pay in a loss before
any payment is due?
Coverage A Limit of Liability. - ANS✔✔---The typical deductible on a
Homeowner's policy is a percentage deductible. If you have a percentage
deductible, that percentage is always taken from the ___________.
The structure or the dwelling (not the contents) - ANS✔✔---Homeowner's
policy Coverage A applies to ___________.
Subrogation - ANS✔✔---County Mutual Insurance Company is attempting to
make Maytag reimburse them for water damages that were caused by a
defective valve on their refrigerator. This process is known as ___________?
Appraisal clause - ANS✔✔---What is the property insurance provision for
when an insurer and an insured have a dispute regarding the amount of damage
on a claim?
, Material misrepresentation - ANS✔✔---___________ 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 - ANS✔✔---As an adjuster, you should
base depreciation on these three factors?
Public adjuster - ANS✔✔---A ___________ is a person hired by the
consumer/property owner to settle the claim with the insurance company on
their behalf.
Additional living expenses - ANS✔✔---___________ are extra charges
covered by homeowner's policies over and above the policyholder's normal
living expenses.
$800 - ANS✔✔---Insured lives in Dallas and has a Homeowner's Policy.
Insured had a fire at their home and cannot live in the home for 1 month while
repairs are being made. Insured has to stay in a hotel for 1 month. The insured's
mortgage is $1,200/month. The cost of the hotel is $800/month. How much are
you going to pay the insured for Additional Living Expenses (ALE)?
Occurence - ANS✔✔---___________ is an event that results in an insured
loss/damages.
EXAM ALREADY GRADED A+ LATEST
EXAM!!!
Third party loss - ANS✔✔---___________ is a situation involving a person
other than an insurer and the insured.
Liability - ANS✔✔---What is the responsibility to another for one's
negligence?
First party loss - ANS✔✔---This loss involves only the insurer and the
insured?
Severity - ANS✔✔---___________ is the size of a loss, the extent of the
damages.
Premium - ANS✔✔---___________ is the amount paid by an insured to an
insurance company to obtain or maintain an insurance policy.
,Replacement cost - ANS✔✔---___________ is the cost to replace property
at current market prices.
Policy period - ANS✔✔---The period a policy is in force, from the effective
date to the expiration date?
Deductible - ANS✔✔---The amount the insured must pay in a loss before
any payment is due?
Coverage A Limit of Liability. - ANS✔✔---The typical deductible on a
Homeowner's policy is a percentage deductible. If you have a percentage
deductible, that percentage is always taken from the ___________.
The structure or the dwelling (not the contents) - ANS✔✔---Homeowner's
policy Coverage A applies to ___________.
Subrogation - ANS✔✔---County Mutual Insurance Company is attempting to
make Maytag reimburse them for water damages that were caused by a
defective valve on their refrigerator. This process is known as ___________?
Appraisal clause - ANS✔✔---What is the property insurance provision for
when an insurer and an insured have a dispute regarding the amount of damage
on a claim?
, Material misrepresentation - ANS✔✔---___________ 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 - ANS✔✔---As an adjuster, you should
base depreciation on these three factors?
Public adjuster - ANS✔✔---A ___________ is a person hired by the
consumer/property owner to settle the claim with the insurance company on
their behalf.
Additional living expenses - ANS✔✔---___________ are extra charges
covered by homeowner's policies over and above the policyholder's normal
living expenses.
$800 - ANS✔✔---Insured lives in Dallas and has a Homeowner's Policy.
Insured had a fire at their home and cannot live in the home for 1 month while
repairs are being made. Insured has to stay in a hotel for 1 month. The insured's
mortgage is $1,200/month. The cost of the hotel is $800/month. How much are
you going to pay the insured for Additional Living Expenses (ALE)?
Occurence - ANS✔✔---___________ is an event that results in an insured
loss/damages.
