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Adjuster Pro - Insurance adjuster test Questions and Answers(Rated A)
What is insurance? - ANSWER-protection against financial loss what is a premium - ANSWER-a scheduled amount to be paid for an insurance policy. What are premiums used for - ANSWER-premiums are collected into a "pool" or "reserve to pay out claimants when needed. how can insurance companies afford to pay for an individuals catastrophic loss? - ANSWER-the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. what is Indemnity - ANSWER-paymen...
- Exam (elaborations)
- • 20 pages •
What is insurance? - ANSWER-protection against financial loss what is a premium - ANSWER-a scheduled amount to be paid for an insurance policy. What are premiums used for - ANSWER-premiums are collected into a "pool" or "reserve to pay out claimants when needed. how can insurance companies afford to pay for an individuals catastrophic loss? - ANSWER-the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. what is Indemnity - ANSWER-paymen...
FL 6-20 Claims Adjuster Exam Questions and Answers 100%Correct
What is the Principle of Indemnity? - ANSWER-Restoration of approximate previous financial condition; no more, no less. What is a Premium? - ANSWER-A fee that the insured pays in exchange for insurance coverage. What is a Reserve? - ANSWER-A pool of collected premiums that the insurer sets aside to pay claims. Legal Contract - ANSWER- Insurance Policy - ANSWER-A contract to provide financial protection for a fee. Four Requirements of a Legal Contract - ANSWER-1. Agreement (i.e. Of...
- Exam (elaborations)
- • 8 pages •
What is the Principle of Indemnity? - ANSWER-Restoration of approximate previous financial condition; no more, no less. What is a Premium? - ANSWER-A fee that the insured pays in exchange for insurance coverage. What is a Reserve? - ANSWER-A pool of collected premiums that the insurer sets aside to pay claims. Legal Contract - ANSWER- Insurance Policy - ANSWER-A contract to provide financial protection for a fee. Four Requirements of a Legal Contract - ANSWER-1. Agreement (i.e. Of...
Claims Adjuster Final (Multiple Choice Questions) With Answers Verified By Experts
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 policy that pays damages to repair the damaged vehicle is a _______? - ANSWER-Liability Po...
- Exam (elaborations)
- • 16 pages •
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 policy that pays damages to repair the damaged vehicle is a _______? - ANSWER-Liability Po...
Florida Adjuster Exam Questions and Answers(Rated A+)
To operate as an insurance agency in Florida an agency is required to: A. appoint at least two agents to manage the agency B. appoint the Office as its agent for service or process C. obtain a license or reg1strabon from the state D. have transacted insurance in Florida for at least two years before apply for a license - ANSWER-C. obtain a license or registration from the state Owen's house is damaged when Latrice's car crashes into it. After Owen's insurer pays to repair the house, ...
- Exam (elaborations)
- • 16 pages •
To operate as an insurance agency in Florida an agency is required to: A. appoint at least two agents to manage the agency B. appoint the Office as its agent for service or process C. obtain a license or reg1strabon from the state D. have transacted insurance in Florida for at least two years before apply for a license - ANSWER-C. obtain a license or registration from the state Owen's house is damaged when Latrice's car crashes into it. After Owen's insurer pays to repair the house, ...
Claims Adjuster's Exam (FL)Questions and Answers(SCORED A+)
-Insurable Interest must exist at the time of the loss. -Insurance Interest must exist for insurance to respond. *Show a similarity between insurance and wagering* -The insured would suffer an economic loss. - ANSWER-All of the following describe insurable interest EXCEPT -It is a personal contract. -Parties are of unequal power with ambiguities or unclear wording resolved in favor of the insured because it is a contract of adhesion. *Indemnity is not part of an insurance contract* ...
- Exam (elaborations)
- • 9 pages •
-Insurable Interest must exist at the time of the loss. -Insurance Interest must exist for insurance to respond. *Show a similarity between insurance and wagering* -The insured would suffer an economic loss. - ANSWER-All of the following describe insurable interest EXCEPT -It is a personal contract. -Parties are of unequal power with ambiguities or unclear wording resolved in favor of the insured because it is a contract of adhesion. *Indemnity is not part of an insurance contract* ...
Florida Insurance Adjuster Licensing Test Questions With Rationales Answers
The policy period is found in what part of an insurance contract? - ANSWER-Declarations Insurance policies are said to be contracts of... - ANSWER-Adhesion The failure to exercise due care is known as - ANSWER-Negligence A building is destroyed by flood. The loss of profits from renting the building is - ANSWER-Indirect Loss The notice required for cancellation of an Auto Binders is _____ days - ANSWER-5 Property Insurance means - ANSWER-Insurance where the payment by the insuranc...
- Exam (elaborations)
- • 8 pages •
The policy period is found in what part of an insurance contract? - ANSWER-Declarations Insurance policies are said to be contracts of... - ANSWER-Adhesion The failure to exercise due care is known as - ANSWER-Negligence A building is destroyed by flood. The loss of profits from renting the building is - ANSWER-Indirect Loss The notice required for cancellation of an Auto Binders is _____ days - ANSWER-5 Property Insurance means - ANSWER-Insurance where the payment by the insuranc...
Florida 3-20 Public Adjusters State Exam (Set 1) With Complete Verified Solutions!
Someone who has care, custody or control of another's property - ANSWER-Bailee Claim filed by policy holder against his _ - ANSWER-First Party Claim When a person who entrusts another with an object and it results in injury to someone can be held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI - ANSWER-Negligent Entrustment Hazard that results from a conscious decision made by an insured to participate in a manner or behavior more likely to resul...
- Exam (elaborations)
- • 15 pages •
Someone who has care, custody or control of another's property - ANSWER-Bailee Claim filed by policy holder against his _ - ANSWER-First Party Claim When a person who entrusts another with an object and it results in injury to someone can be held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI - ANSWER-Negligent Entrustment Hazard that results from a conscious decision made by an insured to participate in a manner or behavior more likely to resul...
Florida Adjuster Licensing Practice Exam Questions and Answers(GRADED A+)
A claim in the property/casualty industry Is defined as: - ANSWER-an assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damages when you purchase insurance, you are buying: - ANSWER-peace of mind that if an insured event does occur, that the insurance company will keep its promise and provide the financial protection that you purchased in today's society, the most important factor in the ...
- Exam (elaborations)
- • 4 pages •
A claim in the property/casualty industry Is defined as: - ANSWER-an assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damages when you purchase insurance, you are buying: - ANSWER-peace of mind that if an insured event does occur, that the insurance company will keep its promise and provide the financial protection that you purchased in today's society, the most important factor in the ...
Certified Claims Adjuster- Florida Exam Questions & Answers(RATED A+)
Insurance Transaction includes: - ANSWER--Solicitation of insurance -Negotiations; -Binding, underwriting and sale of insurance; -Handling or "adjusting" of claims The Role of Insurance is: - ANSWER-- Essential Product -Financial Product - Purchase of a Promise -Purchase based on TRUST The different types of insurance are: - ANSWER--Health -Life -Property -Casualty When you buy insurance, you are buying: - ANSWER-Peace of Mind Insurance is a Purchase based on: - ANSWER-Tr...
- Exam (elaborations)
- • 16 pages •
Insurance Transaction includes: - ANSWER--Solicitation of insurance -Negotiations; -Binding, underwriting and sale of insurance; -Handling or "adjusting" of claims The Role of Insurance is: - ANSWER-- Essential Product -Financial Product - Purchase of a Promise -Purchase based on TRUST The different types of insurance are: - ANSWER--Health -Life -Property -Casualty When you buy insurance, you are buying: - ANSWER-Peace of Mind Insurance is a Purchase based on: - ANSWER-Tr...
Florida Adjuster Exam Questions and Answers 100% Verified
Which of the following is NOT one of the duties of the Department of Financial Services? b. Dept does NOT set rates nor write policies - ANSWER-Set rates and write policies for various company products The adjuster has a particular relationship to his principal, the insurer. Which of the following best describes this relationship? - ANSWER-It is a fiduciary relationship. The Claims Adjuster's role in the insurance industry includes all the following EXCEPT: - ANSWER-Gives appropriate leg...
- Exam (elaborations)
- • 16 pages •
Which of the following is NOT one of the duties of the Department of Financial Services? b. Dept does NOT set rates nor write policies - ANSWER-Set rates and write policies for various company products The adjuster has a particular relationship to his principal, the insurer. Which of the following best describes this relationship? - ANSWER-It is a fiduciary relationship. The Claims Adjuster's role in the insurance industry includes all the following EXCEPT: - ANSWER-Gives appropriate leg...
Home Health Aide Exam 2023-2024 Questions and Answers 100% Correct!!
Guardianships Exam Questions and Answers 100% Verified
Shopify Product Fundamentals Certification Exam Questions & Answers (SCORED A+)
questions don't match the exam
ASU BIO 202: Exam 1 Questions and Answers Solved 100%
EMD Certification Exam Questions and Answers 100% Correct
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