1|Page
Chapter 1 Illinois Public Adjuster
Exam With Complete Questions And
100% Correct Answers|
GUARANTEED PASS| LATEST
2025/2026
Insurance -correct-answer-arrangement between insured and insurer
Insurance Contract -correct-answer-2 Parties:
- 1st: Named Insured
- 2nd: Insurer(insurance company agrees to indemnify any risks)
Property Insurance -correct-answer-Insurer promises to pay covered cost
Contract -correct-answer-A legally bonding agreement that includes 4 elements
- Consideration
- Legality
- Agreement
- Parties
,2|Page
Indemnity -correct-answer-Made financially whole
Conditional -correct-answer-One parties obligation due to the performance of the
other party
Adhesion -correct-answer-Written by one party only
Exception for Insurance -correct-answer-Doctrine of reasonable expectations
Uninsurability -correct-answer-- Losses caused intentionally
- Losses that are inevitable or latent defects
- Controllable losses
Obsolescence -correct-answer-Outdated or replaced w/something else
Adverse Selection -correct-answer-Abuse of the insurance system
, 3|Page
Representations -correct-answer-True statements at the time
Mis-Representations -correct-answer-MF lies at anytime to insurance
Concealment -correct-answer-Covers up/hides facts
Material Misrepresentation and Material Concealment -correct-answer-This
results in insurance fraud and insurance coverage is VOID
Hazards -correct-answer-A feature of characteristic about subject(existing before
loss occurs)
Physical Hazards -correct-answer-Same thing as a Hazard but physical hazards that
make loss more likely
Morale Hazard -correct-answer-Lack of concern about having a loss
Chapter 1 Illinois Public Adjuster
Exam With Complete Questions And
100% Correct Answers|
GUARANTEED PASS| LATEST
2025/2026
Insurance -correct-answer-arrangement between insured and insurer
Insurance Contract -correct-answer-2 Parties:
- 1st: Named Insured
- 2nd: Insurer(insurance company agrees to indemnify any risks)
Property Insurance -correct-answer-Insurer promises to pay covered cost
Contract -correct-answer-A legally bonding agreement that includes 4 elements
- Consideration
- Legality
- Agreement
- Parties
,2|Page
Indemnity -correct-answer-Made financially whole
Conditional -correct-answer-One parties obligation due to the performance of the
other party
Adhesion -correct-answer-Written by one party only
Exception for Insurance -correct-answer-Doctrine of reasonable expectations
Uninsurability -correct-answer-- Losses caused intentionally
- Losses that are inevitable or latent defects
- Controllable losses
Obsolescence -correct-answer-Outdated or replaced w/something else
Adverse Selection -correct-answer-Abuse of the insurance system
, 3|Page
Representations -correct-answer-True statements at the time
Mis-Representations -correct-answer-MF lies at anytime to insurance
Concealment -correct-answer-Covers up/hides facts
Material Misrepresentation and Material Concealment -correct-answer-This
results in insurance fraud and insurance coverage is VOID
Hazards -correct-answer-A feature of characteristic about subject(existing before
loss occurs)
Physical Hazards -correct-answer-Same thing as a Hazard but physical hazards that
make loss more likely
Morale Hazard -correct-answer-Lack of concern about having a loss
