ADJUSTER PRO INSURANCE ADJUSTER
REVIEW 2026 QUESTIONS WITH ANSWERS
GRADED A+
●● Premium.
Answer: A specific sum of money paid by the insured to the insurance
company in exchange for financial protection against loss.
●● spreading the risk.
Answer: A method of displacing vulnerability to hazards across a larger
population through the use of insurance and aid.
●● identity.
Answer: Restoration to approximate financial condition no better no less
●● 4 conditions of insurance contracts to make it legal.
Answer: Agreement, Consideration,
Competent parties, Legal purpose
●● Parts of the Insurance Contract.
Answer: declarations/definitions
insuring agreements, conditions,
,exclusions
●● Personal/Property insurance.
Answer: Protects from financial loss
●● liability insurance.
Answer: pays for injuries to other people and property if you are
responsible for the accident
●● Adhesion.
Answer: One party (Insurer) dictates the terms of the contract
●● Doctrine of Reasonable Expectations.
Answer: Legal principle that provides that an insurance policy includes
coverage that an average person would reasonably expect it to include.
●● Utmost Good Faith.
Answer: A principle of insurance which states that the insurance
company must be able to rely on the honesty and cooperation of the
insured, and the insured must rely on the company to fulfill its
obligations in good faith.
●● Aleatory.
,Answer: depending on an unknown future event
●● Unilateral Contract.
Answer: The insurer is under obligation to pay for loss
●● Conditional.
Answer: Damage are paid if conditions are metCan you do it dark
●● Adverse Selection.
Answer: A high-risk person benefits more from insurance, so is more
likely to purchase it.
●● hazard.
Answer: A danger or risk.
●● peril.
Answer: cause of loss
●● Loss.
Answer: Must be unforeseen in expected and defined
●● exposure.
, Answer: How likely a loss will occur
●● Law of large numbers.
Answer: The larger the number of units insured, the more accurately the
insurer can predict the number of claims from that group
●● Binder.
Answer: A temporary written or oral agreement to provide insurance
coverage until a formal written policy is issued.
●● blanket coverage.
Answer: Policy which provides a single limit of insurance for all
property falling within a specific class
●● Specific Limits.
Answer: Limits that apply to one specific type of property
●● Warranties.
Answer: Found on the conditions page... if policy holder breaks the
warranty the insurer can deny coverage
●● Concealment.
Answer: Hiding the truth
REVIEW 2026 QUESTIONS WITH ANSWERS
GRADED A+
●● Premium.
Answer: A specific sum of money paid by the insured to the insurance
company in exchange for financial protection against loss.
●● spreading the risk.
Answer: A method of displacing vulnerability to hazards across a larger
population through the use of insurance and aid.
●● identity.
Answer: Restoration to approximate financial condition no better no less
●● 4 conditions of insurance contracts to make it legal.
Answer: Agreement, Consideration,
Competent parties, Legal purpose
●● Parts of the Insurance Contract.
Answer: declarations/definitions
insuring agreements, conditions,
,exclusions
●● Personal/Property insurance.
Answer: Protects from financial loss
●● liability insurance.
Answer: pays for injuries to other people and property if you are
responsible for the accident
●● Adhesion.
Answer: One party (Insurer) dictates the terms of the contract
●● Doctrine of Reasonable Expectations.
Answer: Legal principle that provides that an insurance policy includes
coverage that an average person would reasonably expect it to include.
●● Utmost Good Faith.
Answer: A principle of insurance which states that the insurance
company must be able to rely on the honesty and cooperation of the
insured, and the insured must rely on the company to fulfill its
obligations in good faith.
●● Aleatory.
,Answer: depending on an unknown future event
●● Unilateral Contract.
Answer: The insurer is under obligation to pay for loss
●● Conditional.
Answer: Damage are paid if conditions are metCan you do it dark
●● Adverse Selection.
Answer: A high-risk person benefits more from insurance, so is more
likely to purchase it.
●● hazard.
Answer: A danger or risk.
●● peril.
Answer: cause of loss
●● Loss.
Answer: Must be unforeseen in expected and defined
●● exposure.
, Answer: How likely a loss will occur
●● Law of large numbers.
Answer: The larger the number of units insured, the more accurately the
insurer can predict the number of claims from that group
●● Binder.
Answer: A temporary written or oral agreement to provide insurance
coverage until a formal written policy is issued.
●● blanket coverage.
Answer: Policy which provides a single limit of insurance for all
property falling within a specific class
●● Specific Limits.
Answer: Limits that apply to one specific type of property
●● Warranties.
Answer: Found on the conditions page... if policy holder breaks the
warranty the insurer can deny coverage
●● Concealment.
Answer: Hiding the truth
