ADJUSTER PRO - INSURANCE ADJUSTER TEST ACTUAL EXAM
2026/2027 ACTUAL QUESTIONS WITH VERIFIED ANSWERS.
What is insurance? - (ANSWER)protection against financial loss
what is a premium - (ANSWER)a scheduled amount to be paid for an insurance policy.
What are premiums used for - (ANSWER)premiums are collected into a "pool" or "reserve to pay out
claimants when needed.
how can insurance companies afford to pay for an individuals catastrophic loss? - (ANSWER)the insurer
collects premiums from all policy holders and uses them to pay out the claims of a few.
what is Indemnity - (ANSWER)payment for damages, that is not more or less than the amount caused by
the damage.
principle of idemnity - (ANSWER)insurance will pay no more or less than the actual financial loss suffered
indemnification may also include - (ANSWER)repairs to property
reimbursement for additional living expenses
rental cars and hotels
costs directly associated with a loss
4 Parts of Legal Contract - (ANSWER)1. Agreement
2. Consideration
3. Competent Parties
4. Legal Purpose
legal contract - agreement - (ANSWER)mutual intent by offeror and offeree
six special characteristics of insurance contracts - (ANSWER)1. Personal
,ADJUSTER PRO - INSURANCE ADJUSTER TEST ACTUAL EXAM
2026/2027 ACTUAL QUESTIONS WITH VERIFIED ANSWERS.
2. adhesion
3. utmost good faith
4. aleatory
5. unilateral
6. conditional
what kind of contract is an insurance policy? - (ANSWER)Personal contract
what is a contract of adhesion - (ANSWER)the insured must accept the entire contract with all of its
terms and conditions
Utmost Good Faith - (ANSWER)An obligation to act in complete honesty and to disclose all relevant facts.
Aleatory Contract - (ANSWER)a contract where the values exchanged may not be equal but depend on
an uncertain event
Unilateral Contract - (ANSWER)insurance agrees that they must pay in event of a claim. the insured can
stop paying premiums at any point.
only the insurer has promised to perform an action.
Conditional Contract - (ANSWER)A type of an agreement in which both parties must perform certain
duties and follow rules of conduct to make the contract enforceable.
Acronym for the four sections of an Insurance policy - (ANSWER)DICE
D - declarations page
I - Insuring Agreement
C- Conditions
E - Exclusions
, ADJUSTER PRO - INSURANCE ADJUSTER TEST ACTUAL EXAM
2026/2027 ACTUAL QUESTIONS WITH VERIFIED ANSWERS.
Decelerations section - (ANSWER)Always the first section - establishes the following
Names of both parties
Policy number
Location and description of insured item
Dates of the policy
Amount and limit of coverage
Deductible
Premium
Definitions section - (ANSWER)Defines terms used to write policy including "collusion" "decay" "like kind
and quality"
Includes important language for adjusters to know
Insuring agreement section - (ANSWER)What is covered and how
Which causes of loss are covered
Any services provided
Any exclusions to coverage
The maximum limit of policy coverage in dollars
Conditions section - (ANSWER)Insurer specifies any limits or qualifications the policy holder must meet
Exclusions section - (ANSWER)losses for which the insured is not covered for
Endorsements - (ANSWER)Provision that modifies the coverage of the original contract
Add or subtract coverage
Synonyms - rider, addendum, attachment
2026/2027 ACTUAL QUESTIONS WITH VERIFIED ANSWERS.
What is insurance? - (ANSWER)protection against financial loss
what is a premium - (ANSWER)a scheduled amount to be paid for an insurance policy.
What are premiums used for - (ANSWER)premiums are collected into a "pool" or "reserve to pay out
claimants when needed.
how can insurance companies afford to pay for an individuals catastrophic loss? - (ANSWER)the insurer
collects premiums from all policy holders and uses them to pay out the claims of a few.
what is Indemnity - (ANSWER)payment for damages, that is not more or less than the amount caused by
the damage.
principle of idemnity - (ANSWER)insurance will pay no more or less than the actual financial loss suffered
indemnification may also include - (ANSWER)repairs to property
reimbursement for additional living expenses
rental cars and hotels
costs directly associated with a loss
4 Parts of Legal Contract - (ANSWER)1. Agreement
2. Consideration
3. Competent Parties
4. Legal Purpose
legal contract - agreement - (ANSWER)mutual intent by offeror and offeree
six special characteristics of insurance contracts - (ANSWER)1. Personal
,ADJUSTER PRO - INSURANCE ADJUSTER TEST ACTUAL EXAM
2026/2027 ACTUAL QUESTIONS WITH VERIFIED ANSWERS.
2. adhesion
3. utmost good faith
4. aleatory
5. unilateral
6. conditional
what kind of contract is an insurance policy? - (ANSWER)Personal contract
what is a contract of adhesion - (ANSWER)the insured must accept the entire contract with all of its
terms and conditions
Utmost Good Faith - (ANSWER)An obligation to act in complete honesty and to disclose all relevant facts.
Aleatory Contract - (ANSWER)a contract where the values exchanged may not be equal but depend on
an uncertain event
Unilateral Contract - (ANSWER)insurance agrees that they must pay in event of a claim. the insured can
stop paying premiums at any point.
only the insurer has promised to perform an action.
Conditional Contract - (ANSWER)A type of an agreement in which both parties must perform certain
duties and follow rules of conduct to make the contract enforceable.
Acronym for the four sections of an Insurance policy - (ANSWER)DICE
D - declarations page
I - Insuring Agreement
C- Conditions
E - Exclusions
, ADJUSTER PRO - INSURANCE ADJUSTER TEST ACTUAL EXAM
2026/2027 ACTUAL QUESTIONS WITH VERIFIED ANSWERS.
Decelerations section - (ANSWER)Always the first section - establishes the following
Names of both parties
Policy number
Location and description of insured item
Dates of the policy
Amount and limit of coverage
Deductible
Premium
Definitions section - (ANSWER)Defines terms used to write policy including "collusion" "decay" "like kind
and quality"
Includes important language for adjusters to know
Insuring agreement section - (ANSWER)What is covered and how
Which causes of loss are covered
Any services provided
Any exclusions to coverage
The maximum limit of policy coverage in dollars
Conditions section - (ANSWER)Insurer specifies any limits or qualifications the policy holder must meet
Exclusions section - (ANSWER)losses for which the insured is not covered for
Endorsements - (ANSWER)Provision that modifies the coverage of the original contract
Add or subtract coverage
Synonyms - rider, addendum, attachment
