Adjuster Pro - Insurance adjuster test Exam
COMPREHENSIVE questions answered, 2025
verified graded A+ already passed!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
In writing or signed
Choose an answer
1 What is insurance? 2 Utmost Good Faith
3 what is Indemnity 4 Expressed waiver
Don't know?
Terms in this set (154)
, What is insurance? protection against financial loss
a scheduled amount to be paid for an insurance
what is a premium
policy.
What are premiums used premiums are collected into a "pool" or "reserve to
for pay out claimants when needed.
how can insurance the insurer collects premiums from all policy holders
companies afford to pay and uses them to pay out the claims of a few.
for an individuals
catastrophic loss?
payment for damages, that is not more or less than
what is Indemnity
the amount caused by the damage.
insurance will pay no more or less than the actual
principle of idemnity
financial loss suffered
repairs to property
indemnification may also reimbursement for additional living expenses
include rental cars and hotels
costs directly associated with a loss
1. Agreement
2. Consideration
4 Parts of Legal Contract
3. Competent Parties
4. Legal Purpose
legal contract - mutual intent by offeror and offeree
agreement
1. Personal
2. adhesion
six special characteristics 3. utmost good faith
of insurance contracts 4. aleatory
5. unilateral
6. conditional
what kind of contract is an Personal contract
insurance policy?
COMPREHENSIVE questions answered, 2025
verified graded A+ already passed!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
In writing or signed
Choose an answer
1 What is insurance? 2 Utmost Good Faith
3 what is Indemnity 4 Expressed waiver
Don't know?
Terms in this set (154)
, What is insurance? protection against financial loss
a scheduled amount to be paid for an insurance
what is a premium
policy.
What are premiums used premiums are collected into a "pool" or "reserve to
for pay out claimants when needed.
how can insurance the insurer collects premiums from all policy holders
companies afford to pay and uses them to pay out the claims of a few.
for an individuals
catastrophic loss?
payment for damages, that is not more or less than
what is Indemnity
the amount caused by the damage.
insurance will pay no more or less than the actual
principle of idemnity
financial loss suffered
repairs to property
indemnification may also reimbursement for additional living expenses
include rental cars and hotels
costs directly associated with a loss
1. Agreement
2. Consideration
4 Parts of Legal Contract
3. Competent Parties
4. Legal Purpose
legal contract - mutual intent by offeror and offeree
agreement
1. Personal
2. adhesion
six special characteristics 3. utmost good faith
of insurance contracts 4. aleatory
5. unilateral
6. conditional
what kind of contract is an Personal contract
insurance policy?
