Texas Adjuster All-Lines License 2 WITH QUESTIONS AND WELL VERIFIED
ANSWERS [GRADED A+] 2024\2025
Study online at https://quizlet.com/_h5p4k9
County Mutual Insurance Company is
attempting to make Maytag reimburse
them for water damages that were
Subrogation
caused by a defective valve on their
refrigerator. This process is known as
___________?
What is the property insurance provision
for when an insurer and an insured have
Appraisal clause
a dispute regarding the amount of dam-
age on a claim?
___________ is a significant misstate-
ment in an application form. If a compa-
ny had access to the correct information
Material misrepresentation
at the time of application, the company
might not have agreed to accept the ap-
plication
As an adjuster, you should base depreci-
Age, condition, and life expectancy
ation on these three factors?
A ___________ is a person hired by the
consumer/property owner to settle the
Public adjuster
claim with the insurance company on
their behalf.
___________ are extra charges covered
by homeowner's policies over and above
Additional living expenses
the policyholder's normal living expens-
es.
Insured lives in Dallas and has a Home-
owner'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
$800
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)?
,Texas Adjuster All-Lines License 2 WITH QUESTIONS AND WELL VERIFIED
ANSWERS [GRADED A+] 2024\2025
Study online at https://quizlet.com/_h5p4k9
___________ is an event that results in
Occurence
an insured loss/damages.
What is the value of your property, based
Actual cash value on the current cost to replace it, minus
depreciation?
Expenses that have already been sus-
Incurred expenses tained and that have not yet been paid
are known as ___________?
___________ is the part of the written in-
surance policy that states all the policy's
Declarations page specifics, including the name of the pol-
icyholder, the type of property insured,
and the limits for the coverage.
What is the failure to use that degree of
care which an ordinary person of reason-
Negligence
able prudence would use under similar
circumstances?
___________ is the amount of money
Overhead and profit dedicated to a General Contractor's cost
of doing business and earning a profit.
Overhead and profit is also known as
10% overhead, 10% profit
10&10. Why?
What is the amount representing actual
Reserves or potential liabilities kept by an insurer
to cover debts to policyholders?
___________ is a situation involving a
Third party loss person other than an insurer and the in-
sured.
What is the responsibility to another for
Liability
one's negligence?
This loss involves only the insurer and
First party loss
the insured?
Severity
, Texas Adjuster All-Lines License 2 WITH QUESTIONS AND WELL VERIFIED
ANSWERS [GRADED A+] 2024\2025
Study online at https://quizlet.com/_h5p4k9
___________ is the size of a loss, the
extent of the damages.
___________ is the amount paid by an
Premium insured to an insurance company to ob-
tain or maintain an insurance policy.
___________ is the cost to replace prop-
Replacement cost
erty at current market prices.
The period a policy is in force, from the
Policy period
effective date to the expiration date?
The amount the insured must pay in a
Deductible
loss before any payment is due?
The typical deductible on a Homeown-
er's policy is a percentage deductible.
Coverage A Limit of Liability. If you have a percentage deductible,
that percentage is always taken from the
___________.
The structure or the dwelling (not the Homeowner's policy Coverage A applies
contents) to ___________.
Other structures (example: detached Homeowner's policy Coverage B applies
garage) to ___________.
Homeowner's policy Coverage C applies
Personal property or contents
to ___________.
The insured has a Homeowner's Policy
with a Coverage A Limit of $300,000 and
a Coverage C Limit of $100,000, with a
$3,000 1% Deductible. You're the adjuster han-
dling a claim for hail damage to the in-
sured's roof. What is the deductible on
this claim?
The insured has a Homeowner's Policy
with a Coverage A Limit of $400,000 and
$4,000
a Coverage C Limit of $100,000, with a
1% Deductible. You're the adjuster han-
ANSWERS [GRADED A+] 2024\2025
Study online at https://quizlet.com/_h5p4k9
County Mutual Insurance Company is
attempting to make Maytag reimburse
them for water damages that were
Subrogation
caused by a defective valve on their
refrigerator. This process is known as
___________?
What is the property insurance provision
for when an insurer and an insured have
Appraisal clause
a dispute regarding the amount of dam-
age on a claim?
___________ is a significant misstate-
ment in an application form. If a compa-
ny had access to the correct information
Material misrepresentation
at the time of application, the company
might not have agreed to accept the ap-
plication
As an adjuster, you should base depreci-
Age, condition, and life expectancy
ation on these three factors?
A ___________ is a person hired by the
consumer/property owner to settle the
Public adjuster
claim with the insurance company on
their behalf.
___________ are extra charges covered
by homeowner's policies over and above
Additional living expenses
the policyholder's normal living expens-
es.
Insured lives in Dallas and has a Home-
owner'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
$800
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)?
,Texas Adjuster All-Lines License 2 WITH QUESTIONS AND WELL VERIFIED
ANSWERS [GRADED A+] 2024\2025
Study online at https://quizlet.com/_h5p4k9
___________ is an event that results in
Occurence
an insured loss/damages.
What is the value of your property, based
Actual cash value on the current cost to replace it, minus
depreciation?
Expenses that have already been sus-
Incurred expenses tained and that have not yet been paid
are known as ___________?
___________ is the part of the written in-
surance policy that states all the policy's
Declarations page specifics, including the name of the pol-
icyholder, the type of property insured,
and the limits for the coverage.
What is the failure to use that degree of
care which an ordinary person of reason-
Negligence
able prudence would use under similar
circumstances?
___________ is the amount of money
Overhead and profit dedicated to a General Contractor's cost
of doing business and earning a profit.
Overhead and profit is also known as
10% overhead, 10% profit
10&10. Why?
What is the amount representing actual
Reserves or potential liabilities kept by an insurer
to cover debts to policyholders?
___________ is a situation involving a
Third party loss person other than an insurer and the in-
sured.
What is the responsibility to another for
Liability
one's negligence?
This loss involves only the insurer and
First party loss
the insured?
Severity
, Texas Adjuster All-Lines License 2 WITH QUESTIONS AND WELL VERIFIED
ANSWERS [GRADED A+] 2024\2025
Study online at https://quizlet.com/_h5p4k9
___________ is the size of a loss, the
extent of the damages.
___________ is the amount paid by an
Premium insured to an insurance company to ob-
tain or maintain an insurance policy.
___________ is the cost to replace prop-
Replacement cost
erty at current market prices.
The period a policy is in force, from the
Policy period
effective date to the expiration date?
The amount the insured must pay in a
Deductible
loss before any payment is due?
The typical deductible on a Homeown-
er's policy is a percentage deductible.
Coverage A Limit of Liability. If you have a percentage deductible,
that percentage is always taken from the
___________.
The structure or the dwelling (not the Homeowner's policy Coverage A applies
contents) to ___________.
Other structures (example: detached Homeowner's policy Coverage B applies
garage) to ___________.
Homeowner's policy Coverage C applies
Personal property or contents
to ___________.
The insured has a Homeowner's Policy
with a Coverage A Limit of $300,000 and
a Coverage C Limit of $100,000, with a
$3,000 1% Deductible. You're the adjuster han-
dling a claim for hail damage to the in-
sured's roof. What is the deductible on
this claim?
The insured has a Homeowner's Policy
with a Coverage A Limit of $400,000 and
$4,000
a Coverage C Limit of $100,000, with a
1% Deductible. You're the adjuster han-
