TEXAS ALL LINES ADJUSTER EXAM
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.
Subrogate
While investigating a claim, you determine that the loss was caused by a
defective mechanism in the dishwasher. You would attempt
to_________________________?
Appraisal
What is the process when an insurer and an insured have a dispute regarding
the amount of damage?
Material Misrepresentation
__________________________________________________is a significant
misstatement in an application form. If a company had access to the correct
information at the time of application, the company might not have agreed
to accept the application.
Age, Condition and Life Expectancy
As an adjuster, you should base depreciation on these three factors?
Umpire
An_________________ is a person hired by the property owner to settle the
claim with insurance company on their behalf.
HO-A
This type of policy provides coverage only for those perils that are listed in
the policy?
Additional Living Expenses
_________________________ are extra charges covered by homeowner's policies
over and above the policyholder's customary living expenses.
Occurrence
_______________________is an event that results in an insured loss/damages?
, Actual Cash Value
What is value of your property, based on the current cost to replace it, minus
depreciation?
Incurred Expenses
Expenses that have already sustained and that have not yet been paid are
known as ____________________________________.
Declarations Page
________________________________is the part of the written insurance policy
that states all the policy's specific's, including the name of the policyholder,
the type of property insured, the premiums, and the term limits for the
coverage.
Negligence
What is the failure to use that degree of care which an ordinary person of
reasonable prudence would use under similar circumstances?
Overhead and Profit
______________________________is the amount of money dedicated to a general
contractor's cost of doing a business and earning a profit.
Third Party Loss
____________________________is a situation involving a person other than an
insurer and the insured.
Reserves
What is the amount representing actual or potential liabilities kept by and
insurer to cover debts to policyholder?
First Party Loss
This loss involves only the insurer and the insured?
Liability
What is the responsibility to another for one's negligence?
Severity
_____________________ is the size of a loss, the extent of damages.
Premium
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.
Subrogate
While investigating a claim, you determine that the loss was caused by a
defective mechanism in the dishwasher. You would attempt
to_________________________?
Appraisal
What is the process when an insurer and an insured have a dispute regarding
the amount of damage?
Material Misrepresentation
__________________________________________________is a significant
misstatement in an application form. If a company had access to the correct
information at the time of application, the company might not have agreed
to accept the application.
Age, Condition and Life Expectancy
As an adjuster, you should base depreciation on these three factors?
Umpire
An_________________ is a person hired by the property owner to settle the
claim with insurance company on their behalf.
HO-A
This type of policy provides coverage only for those perils that are listed in
the policy?
Additional Living Expenses
_________________________ are extra charges covered by homeowner's policies
over and above the policyholder's customary living expenses.
Occurrence
_______________________is an event that results in an insured loss/damages?
, Actual Cash Value
What is value of your property, based on the current cost to replace it, minus
depreciation?
Incurred Expenses
Expenses that have already sustained and that have not yet been paid are
known as ____________________________________.
Declarations Page
________________________________is the part of the written insurance policy
that states all the policy's specific's, including the name of the policyholder,
the type of property insured, the premiums, and the term limits for the
coverage.
Negligence
What is the failure to use that degree of care which an ordinary person of
reasonable prudence would use under similar circumstances?
Overhead and Profit
______________________________is the amount of money dedicated to a general
contractor's cost of doing a business and earning a profit.
Third Party Loss
____________________________is a situation involving a person other than an
insurer and the insured.
Reserves
What is the amount representing actual or potential liabilities kept by and
insurer to cover debts to policyholder?
First Party Loss
This loss involves only the insurer and the insured?
Liability
What is the responsibility to another for one's negligence?
Severity
_____________________ is the size of a loss, the extent of damages.
Premium
