Page |1
ADJUSTER PRO - INSURANCE
ADJUSTER TEST 2025 QUESTIONS
AND ANSWERS.
1. What is insurance? - correct answer - protection against financial loss
2. What is a premium - correct answer - a scheduled amount to be paid for
an insurance policy.
3. What are premiums used for - correct answer - premiums are collected
into a "pool" or "reserve to pay out claimants when needed.
4. How can insurance companies afford to pay for an individuals
catastrophic loss? - correct answer - the insurer collects premiums from
all policy holders and uses them to pay out the claims of a few.
5. What is Indemnity - correct answer - payment for damages, that is not
more or less than the amount caused by the damage.
, Page |2
6. Principle of idemnity - correct answer - insurance will pay no more or
less than the actual financial loss suffered
7. Indemnification may also include - correct answer - repairs to property
8. Reimbursement for additional living expenses
9. Rental cars and hotels
10. Costs directly associated with a loss
11. 4 Parts of Legal Contract - correct answer - 1. Agreement
12. 2. Consideration
13. 3. Competent Parties
14. 4. Legal Purpose
15. Legal contract - agreement - correct answer - mutual intent by offeror
and offeree
16. Six special characteristics of insurance contracts - correct answer - 1.
Personal
17. 2. Adhesion
18. 3. Utmost good faith
19. 4. Aleatory
20. 5. Unilateral
21. 6. Conditional
, Page |3
22. What kind of contract is an insurance policy? - correct answer -
Personal contract
23. What is a contract of adhesion - correct answer - the insured must
accept the entire contract with all of its terms and conditions
24. Utmost Good Faith - correct answer - An obligation to act in complete
honesty and to disclose all relevant facts.
25. Aleatory Contract - correct answer - a contract where the values
exchanged may not be equal but depend on an uncertain event
26. Unilateral Contract - correct answer - insurance agrees that they must
pay in event of a claim. The insured can stop paying premiums at any
point.
27. Only the insurer has promised to perform an action.
28. Conditional Contract - correct answer - A type of an agreement in
which both parties must perform certain duties and follow rules of
conduct to make the contract enforceable.
29. Acronym for the four sections of an Insurance policy - correct answer
- DICE
ADJUSTER PRO - INSURANCE
ADJUSTER TEST 2025 QUESTIONS
AND ANSWERS.
1. What is insurance? - correct answer - protection against financial loss
2. What is a premium - correct answer - a scheduled amount to be paid for
an insurance policy.
3. What are premiums used for - correct answer - premiums are collected
into a "pool" or "reserve to pay out claimants when needed.
4. How can insurance companies afford to pay for an individuals
catastrophic loss? - correct answer - the insurer collects premiums from
all policy holders and uses them to pay out the claims of a few.
5. What is Indemnity - correct answer - payment for damages, that is not
more or less than the amount caused by the damage.
, Page |2
6. Principle of idemnity - correct answer - insurance will pay no more or
less than the actual financial loss suffered
7. Indemnification may also include - correct answer - repairs to property
8. Reimbursement for additional living expenses
9. Rental cars and hotels
10. Costs directly associated with a loss
11. 4 Parts of Legal Contract - correct answer - 1. Agreement
12. 2. Consideration
13. 3. Competent Parties
14. 4. Legal Purpose
15. Legal contract - agreement - correct answer - mutual intent by offeror
and offeree
16. Six special characteristics of insurance contracts - correct answer - 1.
Personal
17. 2. Adhesion
18. 3. Utmost good faith
19. 4. Aleatory
20. 5. Unilateral
21. 6. Conditional
, Page |3
22. What kind of contract is an insurance policy? - correct answer -
Personal contract
23. What is a contract of adhesion - correct answer - the insured must
accept the entire contract with all of its terms and conditions
24. Utmost Good Faith - correct answer - An obligation to act in complete
honesty and to disclose all relevant facts.
25. Aleatory Contract - correct answer - a contract where the values
exchanged may not be equal but depend on an uncertain event
26. Unilateral Contract - correct answer - insurance agrees that they must
pay in event of a claim. The insured can stop paying premiums at any
point.
27. Only the insurer has promised to perform an action.
28. Conditional Contract - correct answer - A type of an agreement in
which both parties must perform certain duties and follow rules of
conduct to make the contract enforceable.
29. Acronym for the four sections of an Insurance policy - correct answer
- DICE
