Louisiana Insurance Adjuster Exam Questions & Answers Graded A+

Accelerated Benefits - Answer riders attached to life insurance policies which allow death benefits to be used to cover nursing and convalescent home expenses. Accident - Answer an unplanned, unforeseen event which occurs suddenly and at an unspecified place. Accident Insurance - Answer A type of insurance that protects the insured against loss due to accidental bodily injury. Accidental Bodily Injury - Answer unplanned, unforeseen traumatic injury to the body. Accidental Death and Dismemberment (AD&D) - Answer an insurance policy which pays a specified amount or a specified multiple of the insured's benefit if the insured dies, loses his/her sight, or loses two limbs due to an accident. Accidental Death Benefits - Answer a policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. Accidental Death Insurance - Answer an insurance policy that provides payment if the insured's death is the result of an accident. Accumulation Period - Answer the time over which the annuitant makes payments or investments in an annuity, and when those payments earn interest tax deferred. Activities of Daily Living (ADL's) - Answer activities individuals must do every day such as moving about, getting dressed, eating, bathing, etc. Actual Cash Value (ACV) - Answer the required amount to pay damages or for property loss, which is calculated based on the property's current replacement value minus depreciation. Actual Charge - Answer the amount a physician or supplier actually bills for a particular service or supply. Actuary - Answer a person trained in the technical aspects of insurance and related fields, particularly in the mathematics of insurance; a person who, on behalf of the company, determines the mathematical probability of loss. Adhesion - Answer a contract offered on a "take-it-or-leave-it" basis by an insurer, in which the insured's only option is to accept or reject the contract. any ambiguities in the contract will be settled in favor of the insured. Adjustable Life - Answer life insurance which permits changes in the face amount, premium amount, period of protection, and the duration of the premium payment period. Adjuster - Answer a representative of an insurance company who investigates and acts on the behalf of the company to obtain agreements for the amount of the insurance claim Administrator - Answer an individual appointed by a court as a fiduciary to settle the financial affairs and estate of a deceased person. Admitted (authorized) Insurer - Answer an insurance company authorized and licensed to transact business in a particular state. Adult Day Care - Answer a program for impaired adults that attempts to meet their health, social, and functional needs in a setting away from their homes. Adverse Selection - Answer the tendency of risks with higher probability of loss to purchase and maintain insurance more often than the risks who present lower probability. Agency - Answer an insurance sales office or company