ADJUSTER PRO ADJUSTER TEST
LATEST VERSION/ACTUAL EXAM
QUESTIONS AND ANSWERS / GRADE
A+ ASSURED
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Terms in this set (154)
, What is insurance? protection against financial loss
a scheduled amount to be paid for an
what is a premium
insurance policy.
premiums are collected into a "pool" or
What are
"reserve to pay out claimants when
premiums used for
needed.
how can insurance the insurer collects premiums from all
companies afford policy holders and uses them to pay out
to pay for an the claims of a few.
individuals
catastrophic loss?
payment for damages, that is not more
what is Indemnity or less than the amount caused by the
damage.
principle of insurance will pay no more or less than
idemnity the actual financial loss suffered
repairs to property
reimbursement for additional living
indemnification
expenses
may also include
rental cars and hotels
costs directly associated with a loss
LATEST VERSION/ACTUAL EXAM
QUESTIONS AND ANSWERS / GRADE
A+ ASSURED
Practice questions for this set
Learn
Studied 7 terms
Nice work, you're crushing it
Continue studying in Learn
Terms in this set (154)
, What is insurance? protection against financial loss
a scheduled amount to be paid for an
what is a premium
insurance policy.
premiums are collected into a "pool" or
What are
"reserve to pay out claimants when
premiums used for
needed.
how can insurance the insurer collects premiums from all
companies afford policy holders and uses them to pay out
to pay for an the claims of a few.
individuals
catastrophic loss?
payment for damages, that is not more
what is Indemnity or less than the amount caused by the
damage.
principle of insurance will pay no more or less than
idemnity the actual financial loss suffered
repairs to property
reimbursement for additional living
indemnification
expenses
may also include
rental cars and hotels
costs directly associated with a loss
