Study guides, Class notes & Summaries

Texas All Lines Adjuster Test Latest 2024 Graded A Accumulated Depreciation - Answer ️️ -The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date - Answer ️️ -The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. Actual Cash Value (ACV) - Answer ️️ -A valuation method used by insurers t...

Georgia Adjuster Exam Questions and Answers Already Passed Consequential also known as Indirect Loss - Answer ️️ -An insured's business is damaged because of a fire and he is forced to close business temporarily for repairs. As a result the insured lost income. What type of loss is this? Combined Single - Answer ️️ -The insured crashes into a porch and the person sitting on the porch. The person on the porch is injured. The insured's insurance policy has a limit set at $500,000....

GA Claims Adjuster Licensing Exam Latest 2024 Already Passed What coverage does Community Eligibility apply to? - Answer ️️ -Flood insurance through FEMA What's the difference between Emergency Program and Regular Program in the National Flood Insurance Program? - Answer ️️ -Emergency applies to homes in communities that are a normally not a flood hazard. Regular programs are awarded to an entire community that is eligible due to flood hazard. What is the flood coverage on a reg...

Texas all lines adjuster license commercial general liability chapter 8 already passed Commercial general liability ( CGL) - Answer ️️ -This covers business liability hazards that are not covered under more specialiazed forms of insurance such as auto, marine, workers compensation and others. What are three forms of CGL - Answer ️️ -Professional liability Product liability Premises liability When liability is limited to acts of negligence, professional liability insurance may be ...

6-20 Claims Adjuster Questions and Answers Graded A+ The following are basic characteristics of a property or liability insurance contract, EXCEPT: A. Personal Contract B. Conditional Contract C. Loss Settlement Contract D. Contract of Adhesion - Answer ️️ -C. Loss Settlement Contract The Insurers responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property against further loss, and to give the in...

NC adjuster Exam Questions and Answers Already Passed Inception/Expiration Date - Answer ️️ -The date on which coverage became effective or expired. Policies in North Carolina become effective and expire at 12:01am Occurrence Date - Answer ️️ -The date on which the loss occurred Identification of Parties involve - Answer ️️ -The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names ...

N.C. Claims Adjuster Exam Latest 2024 Rated A+ Inception/Expiration Date - Answer ️️ -an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. Occurrence Date - Answer ️️ -Date of which the loss occurred Identification of parties involved - Answer ️️ -The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured p...

NC Claims Adjuster Exam Study Already Passed Liability Insurance PAP (Part A) - Answer ️️ -Pays all the sums and insured must legally pay as damage due to BI/PD caused by an accident and resulting from the ownership, maintenance or use of a covered auto. Coverage Part A through F of a PAP - Answer ️️ -A. Liability B. Medical Payments C. UM/UIM D. Physical Damage E. Insured Duties F. General Provisions Certificate of Insurance (COI) - Answer ️️ -A document that proves the ex...

Claims Adjuster Final (Multiple Choice Questions) Already Passed An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of - Answer ️️ - The insured and insurer An insurer gives which of the following as Consideration for an insurance policy? - Answer ️️ - A Promise The interest of the insured and all other persons in the property involved in a claim is found in - Answer ️️ -A Proof of Loss An insured rear-ends another driver's vehicle. The auto po...

TX ADJUSTER TEST QUESTIONS AND ANSWERS ALREADY PASSED Subrogate Subrogation is the right for an insurer to legally pursue a third party that caused an insurance loss to the insured. This is done as a means of recovering the amount of the claim paid by the insurance carrier to the insured for the loss. - Answer ️️ -While investigating a claim, you determine that the loss was caused by a defective mechanism in the dishwasher. You would attempt to_________________________? Appraisal - An...