Sakayobako30

SF: Texas All Lines Adjuster; Pre-licensing Practice ExamWhich regulatory body handles violations of related insurance issues only? - correct answer Texas Insurance Code (TIC) What license carries the minimum requirements to handle homeowner's claims? - correct answer Property, Casualty & Surety 30% of the questions on the license exam are considered "Knowledge-based" questions. What are the remaining 70% considered? - correct answer Application-based Most Workers' Compensation poli...

Texas Adjuster Exam Unit 1company adjuster - correct answer What is another name for staff adjuster? Independent Adjuster - correct answer This type of adjuster usually handle claims for more than one company (and receives a fee based on time and expense) (pick one) staff adjuster, independent adjuster, contractors, or public adjuster Contractors - correct answer This type of adjuster may work for a company that furnishes adjuster for the handling of catastrophic losses. (Pick one) s...

Texas Adjuster ExamIf an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved? - correct answer $30,000 Which of the following statements best describes an inland marine policy? - correct answer Pertains to Cargo with no fixed location Alex is traveling through College Station and hits a deer, and the damages are $1500. He has comprehensive coverage with a $500 deductible. What ...

Texas all line adjuster study guideworkman's compensation - correct answer No fault insurance for employee that are injured on the job Employer's liability coverage - correct answer Covers an employer’s liability for common lawsuits from employees to recover damage from job related injuries. Permanent Total Disability - correct answer Complete and permanent loss of being able to earn money. Example- Complete loss of sight or losing both hands or feet. Permanent Partial Disability - ...

Texas all line adjuster study guideworkman's compensation - correct answer No fault insurance for employee that are injured on the job Employer's liability coverage - correct answer Covers an employer’s liability for common lawsuits from employees to recover damage from job related injuries. Permanent Total Disability - correct answer Complete and permanent loss of being able to earn money. Example- Complete loss of sight or losing both hands or feet. Permanent Partial Disability - ...

Texas All Lines Adjuster - Claims Adjuster ConceptsAbsolute Liability - correct answer Liability that is imposed on the ownership of vicious dog breeds (e.g. Pit Bulls or Rottweilers) or the participation in dangerous activities (e.g. storing explosives in your garage). Actual Cash Value - correct answer The cost of replacing damaged property at today's prices minus deductions for depreciation. Aggregate Limit - correct answer The most the policy will pay for all losses or claims made dur...

Texas All Lines Adjuster - Insurance ConceptsActuarial Department - correct answer Responsible for gathering and interpreting data for determining rates charged to the insurance buying public. Actuaries determine the probability of losses, which are key in determine premium rates. Admitted Insurer - correct answer Insurers that have applied for authority and have been authorized by the State's Commissioner of Insurance to conduct operations and write business in the state. Adverse Selecti...

Texas All Lines Adjuster - Insurance Regulation and StatutesAll Lines Adjuster - correct answer License type is for individuals adjusting property and casualty, worker's compensation, employer's liability and various other types of claims. Boycott, Coercion & Intimidation - correct answer To refuse to conduct business with another party or to force another party to act by use of force or threatening actions. Business Day - correct answer Means a day other than Saturday, Sunday or holiday...

Texas All Lines Adjuster - Other Commercial Lines CoveragesAverage - correct answer Term used to indicate a partial loss in marine insurance. Aviation Insurance - correct answer Insurance that provides coverage for aircraft to address exposures from operating aircraft. Barratry - correct answer Illegal acts committed willfully by the ship's master or crew to damage the ship or property. Includes hijacking, abandonment or embezzlement. Blanket Bond - correct answer Type of fidelity bond...

Texas All Lines Adjuster - Workers CompensationAssumption of Risk - correct answer Common law defense to Workers Compensation claims that allow employers to deny liability on the basis the employee knew the work conditions prior to employment and assumed all the risk of employment. Average Weekly Wage - correct answer This is the computation used to determine lost wages in Workers Compensation. It is calculated by taking the average weekly wage of an employee for the preceding 13 weeks from t...