5/22/26, 8:27 AM AdjusterPro EXAM, comprehensive questions and verified answers || QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT …
AdjusterPro EXAM, comprehensive questions and
verified answers || QUESTIONS WITH ACCURATE
ANSWERS | GET IT RIGHT |2026!
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Terms in this set (166)
Greg plays trombone in his school The Principle of Indemnity
band during football games. During
a rally song in the stands one day,
Greg annoys one of the opposing
team's fans, who grabs his $400
trombone and hurls it down the
bleachers, completely destroying it.
Greg's insurance pays him $400 to
replace the trombone, but then the
opposing team's coach also offers to
replace the instrument, at whatever
the cost. So Greg orders a new
$3,200 trombone and has the
opposing team's athletic department
absorb the cost. Which principle has
Greg violated?
The fee paid by the insured in Premium
exchange for an insurance policy is
called a:
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,5/22/26, 8:27 AM AdjusterPro EXAM, comprehensive questions and verified answers || QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT …
Which of the following best A. A fraternal benefit society is a for-profit provider
describes a Fraternal Benefit of insurance.
Society? B. A fraternal benefit society is a social organization
based around common interests and beliefs.
C. A fraternal benefit society uses investors' money
to pay claims.
Fraternal Benefit Societies are non-profit, mutual
aid organizations that engage primarily in
charitable activities. They offer their members
insurance against death, disease, and disability.
D. A fraternal benefit society pays dividends to its
stockholders.
Answer: B
Bobby just purchased an insurance A. Bobby is only 19 years old.
policy for his home from XYZ B. Bobby paid his first premium when he and his
Insurance. Which of the following agent agreed on a policy, but he is waiting for the
would be a reason this policy may policy documents to be prepared so he can sign
not be legally binding? them.
C. Bobby has an outstanding warrant for selling
marijuana.
A contract is only legally binding if both parties are
competent. If Bobby is not mentally competent, he
cannot enter into a contract.
D. Bobby has been diagnosed as mentally
incompetent.
Answer: D
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,5/22/26, 8:27 AM AdjusterPro EXAM, comprehensive questions and verified answers || QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT …
In a __________, only one party is legally A. contract of adhesion
obligated to perform. B. unilateral contract
C. conditional contract
That is incorrect. In a unilateral contract, only one
party is legally obligated to perform.
D. contract of utmost good faith
Answer: B. Unilateral contract
Mark incurred $8,000 damage to his A. the principle of profit and loss.
car in an accident. He received B. the principle of financial status.
$8,000 from his insurance company C. the principle of financial restoration.
and $4,000 from the other driver. By D. the principle of indemnity.
receiving a profit from the loss, Mark
could be in violation of: Answer: D
In which section of an insurance A. Exclusions
policy might you find the following B. Definitions
statement? "'We, us, and our' refers C. Declarations
to ABC Insurance company." D. Conditions
Answer: B
Which of the following is NOT a A. Aleatory
characteristic of insurance B. Universal
contracts? C. Conditional
D. Unilateral
Answer: B
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, 5/22/26, 8:27 AM AdjusterPro EXAM, comprehensive questions and verified answers || QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT …
Which of the following is NOT a A. There must be a legal purpose.
requirement for a legally binding B. There must be mutual consent.
contract? C. It must be a notarized document.
D. Both parties must bring something of value.
Answer: C
Xavier owns a small insurance A. A re-insurer
company. Recently the company B. A stock insurer
won a bid to insure a new housing C. A reciprocal insurance group
development in Omaha, NE. His D. A fraternal benefits society
company can handle any claims that
arise, but if a series of tornados were Answer: A
to tear through the area and destroy
the entire development, Xavier's
company would suffer financially.
Which type of insurer could help
Xavier's company protect itself the
most from this potential loss?
Which of the following would you A. Causes of loss that are not covered
find in the Conditions section of an B. The insured's duty after a loss
insurance policy? C. Policy limits
D. The meaning of certain important words in the
contract
Answer: B
Which section of an insurance policy A. Coverage Forms
is designed to OMIT certain risks B. Insuring Agreement
from coverage? C. Definitions
D. Exclusions
Answer: D
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AdjusterPro EXAM, comprehensive questions and
verified answers || QUESTIONS WITH ACCURATE
ANSWERS | GET IT RIGHT |2026!
Save Groups
Terms in this set (166)
Greg plays trombone in his school The Principle of Indemnity
band during football games. During
a rally song in the stands one day,
Greg annoys one of the opposing
team's fans, who grabs his $400
trombone and hurls it down the
bleachers, completely destroying it.
Greg's insurance pays him $400 to
replace the trombone, but then the
opposing team's coach also offers to
replace the instrument, at whatever
the cost. So Greg orders a new
$3,200 trombone and has the
opposing team's athletic department
absorb the cost. Which principle has
Greg violated?
The fee paid by the insured in Premium
exchange for an insurance policy is
called a:
https://quizlet.com/1183047527/adjusterpro-exam-comprehensive-questions-and-verified-answers-questions-with-accurate-answers-get-it-right-2026-… 1/55
,5/22/26, 8:27 AM AdjusterPro EXAM, comprehensive questions and verified answers || QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT …
Which of the following best A. A fraternal benefit society is a for-profit provider
describes a Fraternal Benefit of insurance.
Society? B. A fraternal benefit society is a social organization
based around common interests and beliefs.
C. A fraternal benefit society uses investors' money
to pay claims.
Fraternal Benefit Societies are non-profit, mutual
aid organizations that engage primarily in
charitable activities. They offer their members
insurance against death, disease, and disability.
D. A fraternal benefit society pays dividends to its
stockholders.
Answer: B
Bobby just purchased an insurance A. Bobby is only 19 years old.
policy for his home from XYZ B. Bobby paid his first premium when he and his
Insurance. Which of the following agent agreed on a policy, but he is waiting for the
would be a reason this policy may policy documents to be prepared so he can sign
not be legally binding? them.
C. Bobby has an outstanding warrant for selling
marijuana.
A contract is only legally binding if both parties are
competent. If Bobby is not mentally competent, he
cannot enter into a contract.
D. Bobby has been diagnosed as mentally
incompetent.
Answer: D
https://quizlet.com/1183047527/adjusterpro-exam-comprehensive-questions-and-verified-answers-questions-with-accurate-answers-get-it-right-2026-… 2/55
,5/22/26, 8:27 AM AdjusterPro EXAM, comprehensive questions and verified answers || QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT …
In a __________, only one party is legally A. contract of adhesion
obligated to perform. B. unilateral contract
C. conditional contract
That is incorrect. In a unilateral contract, only one
party is legally obligated to perform.
D. contract of utmost good faith
Answer: B. Unilateral contract
Mark incurred $8,000 damage to his A. the principle of profit and loss.
car in an accident. He received B. the principle of financial status.
$8,000 from his insurance company C. the principle of financial restoration.
and $4,000 from the other driver. By D. the principle of indemnity.
receiving a profit from the loss, Mark
could be in violation of: Answer: D
In which section of an insurance A. Exclusions
policy might you find the following B. Definitions
statement? "'We, us, and our' refers C. Declarations
to ABC Insurance company." D. Conditions
Answer: B
Which of the following is NOT a A. Aleatory
characteristic of insurance B. Universal
contracts? C. Conditional
D. Unilateral
Answer: B
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, 5/22/26, 8:27 AM AdjusterPro EXAM, comprehensive questions and verified answers || QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGHT …
Which of the following is NOT a A. There must be a legal purpose.
requirement for a legally binding B. There must be mutual consent.
contract? C. It must be a notarized document.
D. Both parties must bring something of value.
Answer: C
Xavier owns a small insurance A. A re-insurer
company. Recently the company B. A stock insurer
won a bid to insure a new housing C. A reciprocal insurance group
development in Omaha, NE. His D. A fraternal benefits society
company can handle any claims that
arise, but if a series of tornados were Answer: A
to tear through the area and destroy
the entire development, Xavier's
company would suffer financially.
Which type of insurer could help
Xavier's company protect itself the
most from this potential loss?
Which of the following would you A. Causes of loss that are not covered
find in the Conditions section of an B. The insured's duty after a loss
insurance policy? C. Policy limits
D. The meaning of certain important words in the
contract
Answer: B
Which section of an insurance policy A. Coverage Forms
is designed to OMIT certain risks B. Insuring Agreement
from coverage? C. Definitions
D. Exclusions
Answer: D
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