ALABAMA ADJUSTER LICENCE LATEST
UPDATED FINAL EXAM 2025 QUESTIONS
AND CORRECT ANSWERS (VERIFIED)
ALREADY GRADED A+
Accident Insurance
ANSWER-Covers expenses associated with a covered
accident and can extend to ambulance and emergency
room
expenses, intensive care, and hospital costs. Accident
insurance also provides for loss of income, and a
death benefit if injuries prove fatal
Accumulated Depreciation
,ANSWER-The total decrease in an item's value over a
period of time. Formula: (annual depreciation x number
of
years used). Subtract this number from the item's
replacement cost to get its actual cash value (ACV).
Acreage Reporting Date
ANSWER-In crop insurance, the deadline for providing
the insurer with an acreage report, which is used to
determine the amount of coverage needed and the
premium charged for a particular crop.
Actual Cash Value (ACV)
ANSWER-A valuation method used by insurers to reflect
an item's current market value right before being
damaged
or destroyed. Formula: (replacement cost - accumulated
depreciation)
,Actual Production History
ANSWER-A history of a farmer's crop yields over a multi-
year period, which is used to determine the normal
production level of a farm.
Adhesion
ANSWER-Characteristic of an insurance contract. Means
that one party (the insurer) sets the terms, and the other
(the policyholder) can "take it or leave it.
Adjusted Gross Revenue
ANSWER-(Crop Insurance)
Narrowest (and least expensive) form of crop revenue
insurance. Insures farm revenue as a whole
instead of individual crops. Guarantees a percentage of
the insured farm's average revenue.
, Adjuster
ANSWER-An agent who, for compensation, processes
insurance claims. The adjuster investigates the damages,
evaluates the claim, and makes a fair and equitable
settlement based on the insurance contract. Can
represent either the insured or the insurer.
Adjuster - Emergency
ANSWER-Adjusters who are temporarily licensed by the
insurance commissioner to handle claims during
catastrophes or emergencies that produce an
overwhelming number of claims in a short period of
time.
Adjuster - Independent
UPDATED FINAL EXAM 2025 QUESTIONS
AND CORRECT ANSWERS (VERIFIED)
ALREADY GRADED A+
Accident Insurance
ANSWER-Covers expenses associated with a covered
accident and can extend to ambulance and emergency
room
expenses, intensive care, and hospital costs. Accident
insurance also provides for loss of income, and a
death benefit if injuries prove fatal
Accumulated Depreciation
,ANSWER-The total decrease in an item's value over a
period of time. Formula: (annual depreciation x number
of
years used). Subtract this number from the item's
replacement cost to get its actual cash value (ACV).
Acreage Reporting Date
ANSWER-In crop insurance, the deadline for providing
the insurer with an acreage report, which is used to
determine the amount of coverage needed and the
premium charged for a particular crop.
Actual Cash Value (ACV)
ANSWER-A valuation method used by insurers to reflect
an item's current market value right before being
damaged
or destroyed. Formula: (replacement cost - accumulated
depreciation)
,Actual Production History
ANSWER-A history of a farmer's crop yields over a multi-
year period, which is used to determine the normal
production level of a farm.
Adhesion
ANSWER-Characteristic of an insurance contract. Means
that one party (the insurer) sets the terms, and the other
(the policyholder) can "take it or leave it.
Adjusted Gross Revenue
ANSWER-(Crop Insurance)
Narrowest (and least expensive) form of crop revenue
insurance. Insures farm revenue as a whole
instead of individual crops. Guarantees a percentage of
the insured farm's average revenue.
, Adjuster
ANSWER-An agent who, for compensation, processes
insurance claims. The adjuster investigates the damages,
evaluates the claim, and makes a fair and equitable
settlement based on the insurance contract. Can
represent either the insured or the insurer.
Adjuster - Emergency
ANSWER-Adjusters who are temporarily licensed by the
insurance commissioner to handle claims during
catastrophes or emergencies that produce an
overwhelming number of claims in a short period of
time.
Adjuster - Independent
