Adjuster Pro - Insurance Adjuster Test Questions And 100%
Correct Answers 2025-2026
Principle of idemnity - Answer insurance will pay no more or less than the actual
financial loss suffered
Indemnification may also include - Answer repairs to property
reimbursement for additional living expenses
rental cars and hotels
costs directly associated with a loss
4 Parts of Legal Contract - Answer 1. Agreement
2. Consideration
3. Competent Parties
4. Legal Purpose
Legal contract - agreement - Answer mutual intent by offeror and offeree
Six special characteristics of insurance contracts - Answer 1. Personal
2. adhesion
3. utmost good faith
4. aleatory
5. unilateral
6. conditional
What type of contract is an insurance policy? - Answer Personal contract
,What is a contract of adhesion - Answer the insured must accept the entire contract w/
all of its terms and conditions
Utmost Good Faith - Answer An obligation to act in complete honesty and to disclose all
relevant facts.
Aleatory Contract - Annuity a contract in which the values exchanged may not be equal
but depend upon an uncertain event
Unilateral Contract - Insurance agrees that they must pay in event of a claim. The
insured may stop paying premiums at any time.
Only the insurer has promised to perform an action.
Conditional Contract -Answer An agreement between two parties in which the
performance of certain duties and adherence to conducts by both sides will make the
contract enforceable.
Acronym for an Insurance policy's four sections - Answer DICE
D - declarations page
I - Insuring Agreement
C- Conditions
E - Exclusions
Decelerations section - Answer Always the first section - establishes the following
Names of both parties
Policy number
Location and description of insured item
Dates of the policy
, Amount and limit of coverage
Deductible
Premium
Definitions section - Answer Defines terms used to write policy including "collusion"
"decay" "like kind and quality"
Contains key language the adjuster should be aware of
Insuring agreement section - Answer What does the policy cover and how
What causes of loss are covered
What services are covered
What exclusions of coverage
Maximum limit of policy coverage in dollars
What is insurance? Protection against financial loss
what is a premium A scheduled amount to be paid for an insurance policy.
What are premiums used for premiums are collected into a "pool" or "reserve to pay out
claimants when needed.
How do the insurance companies budget a payment for an individual's catastrophic
loss? Answer The insurer collects premiums from all policy holders and pays with the
premiums collected the claims of a few.
What is Indemnity Answer Damages paid but no more or less than the amount caused
by the damage.
Conditions section - the insurer will state any limits or qualifications the policy holder
must meet
Correct Answers 2025-2026
Principle of idemnity - Answer insurance will pay no more or less than the actual
financial loss suffered
Indemnification may also include - Answer repairs to property
reimbursement for additional living expenses
rental cars and hotels
costs directly associated with a loss
4 Parts of Legal Contract - Answer 1. Agreement
2. Consideration
3. Competent Parties
4. Legal Purpose
Legal contract - agreement - Answer mutual intent by offeror and offeree
Six special characteristics of insurance contracts - Answer 1. Personal
2. adhesion
3. utmost good faith
4. aleatory
5. unilateral
6. conditional
What type of contract is an insurance policy? - Answer Personal contract
,What is a contract of adhesion - Answer the insured must accept the entire contract w/
all of its terms and conditions
Utmost Good Faith - Answer An obligation to act in complete honesty and to disclose all
relevant facts.
Aleatory Contract - Annuity a contract in which the values exchanged may not be equal
but depend upon an uncertain event
Unilateral Contract - Insurance agrees that they must pay in event of a claim. The
insured may stop paying premiums at any time.
Only the insurer has promised to perform an action.
Conditional Contract -Answer An agreement between two parties in which the
performance of certain duties and adherence to conducts by both sides will make the
contract enforceable.
Acronym for an Insurance policy's four sections - Answer DICE
D - declarations page
I - Insuring Agreement
C- Conditions
E - Exclusions
Decelerations section - Answer Always the first section - establishes the following
Names of both parties
Policy number
Location and description of insured item
Dates of the policy
, Amount and limit of coverage
Deductible
Premium
Definitions section - Answer Defines terms used to write policy including "collusion"
"decay" "like kind and quality"
Contains key language the adjuster should be aware of
Insuring agreement section - Answer What does the policy cover and how
What causes of loss are covered
What services are covered
What exclusions of coverage
Maximum limit of policy coverage in dollars
What is insurance? Protection against financial loss
what is a premium A scheduled amount to be paid for an insurance policy.
What are premiums used for premiums are collected into a "pool" or "reserve to pay out
claimants when needed.
How do the insurance companies budget a payment for an individual's catastrophic
loss? Answer The insurer collects premiums from all policy holders and pays with the
premiums collected the claims of a few.
What is Indemnity Answer Damages paid but no more or less than the amount caused
by the damage.
Conditions section - the insurer will state any limits or qualifications the policy holder
must meet
