Adjuster pro Study guides, Class notes & Summaries

Accumulated Depreciation - Answer- The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) - Answer- A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion - Answer- One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the oth...

Adjuster Pro-Florida Certified Adjuster Glossary Exam Questions with Correct Answers.Adjuster Pro-Florida Certified Adjuster Glossary Exam Questions with Correct Answers.

John is doing some lawn maintenance using a steel blade on his weed-whacker. He fails to properly tighten the blade and it comes loose while he is trimming some tall grass at the edge of his property. The blade flies off towards his neighbor's house and crashes into the HVAC unit, severing the lines and effectively destroying the unit. Which coverage in John's homeowners policy might pay for the damage he caused to his neighbor's HVAC system? A. Coverage E - Personal Liability B. Coverage...

Adjuster Pro Exam Prep With 100% Correct Answers 2024_Updated

Adjuster Pro - Insurance adjuster test | Questions with 100% Correct Answers | Verified | Updated 2024

Adjuster Pro - Florida Certified Adjuster Glossary | Questions with 100% Correct Answers | Verified | Updated 2024

1. 1. The insured carries a BOP policy with protective systems such as a sprinkler system. If the system becomes inoperative, the insured must advise the insurance company of the problem within if the system cannot be restored to working order: 48 hours Your Answer 2. 2. Tina has two policies (Policy X and Policy Y) that cover the same risk on a pro rata basis. Policy X has a limit of $100,000 and Policy Y has a limit of $25,000. When Tina suffers a loss totaling $75,000, how will the two pol...

Adjuster Pro - Insurance Adjuster Test: 154 Questions & Answers

- ANSWER transfer of risk insurance - ANSWER transfer of risk insurance Accident Insurance - ANSWER Covers expenses associated with a covered accident and can extend to ambulance and emergency room expenses, intensive care, and hospital costs. Accident insurance also provides for loss of income, and a death benefit if injuries prove fatal. Accumulated Depreciation - ANSWER The total decrease in an item's value over a period of time. Formula: (annual depreciation x number of years used)...

Adjuster Pro - Insurance Adjuster Test: Questions & Answers