LA Workers Comp Adjuster's License
Study Guide 2024/2025 Exam Questions
and Detailed Answers | Get it 100%
Correct Answers
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). Subtract this number from the item's
replacement
cost to get its actual cash value (ACV).
Acreage Reporting
Date - 🧠ANSWER ✔✔In crop insurance, the deadline for providing the insurer
with an acreage report, which is
Page 1 of 21
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER:
619652435. TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED
,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 to reflect an item's
current market value right
before being damaged or destroyed. Formula: (replacement cost - accumulated
depreciation)
Actual Production
History - 🧠ANSWER ✔✔A history of a farmer's crop yields over a multi-year
period, which is used to determine
the normal production level of a farm.
Adhesion - 🧠ANSWER ✔✔Characteristic of an insurance contract. Means that
one party (the insurer) sets the terms, and the other (the policyholder) can
"take it or leave it."
Adjusted Gross Revenue (Crop Insurance) - 🧠ANSWER ✔✔Narrowest (and least
expensive) form of crop revenue insurance. Insures farm revenue as a whole
Page 2 of 21
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER:
619652435. TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED
, instead of individual crops. Guarantees a percentage of the insured farm's
average revenue.
Adjuster - 🧠ANSWER ✔✔An agent who, for compensation, processes insurance
claims. The adjuster investigates the damages, evaluates the claim, and makes a
fair and equitable settlement based on the insurance contract. Can represent
either the insured or the insurer.
Adjuster - Emergency - 🧠ANSWER ✔✔Adjusters who are temporarily licensed by
the insurance commissioner to handle claims during catastrophes or
emergencies that produce an overwhelming number of claims in a short period
of time.
Adjuster - Independent - 🧠ANSWER ✔✔Self-employed adjusters who contract
with multiple insurers at the same time. Paid on a commission or fee-plus-
expenses basis for each claim. Also called: Fee Adjuster, Bureau Adjuster.
Adjuster - Public - 🧠ANSWER ✔✔An adjuster who is hired to represent the
claimant and help determine a fair indemnification. Usually specializes in
appraisals and negotiation. Paid commission, usually a percentage of final
settlement.
Page 3 of 21
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER:
619652435. TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED
Study Guide 2024/2025 Exam Questions
and Detailed Answers | Get it 100%
Correct Answers
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). Subtract this number from the item's
replacement
cost to get its actual cash value (ACV).
Acreage Reporting
Date - 🧠ANSWER ✔✔In crop insurance, the deadline for providing the insurer
with an acreage report, which is
Page 1 of 21
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER:
619652435. TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED
,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 to reflect an item's
current market value right
before being damaged or destroyed. Formula: (replacement cost - accumulated
depreciation)
Actual Production
History - 🧠ANSWER ✔✔A history of a farmer's crop yields over a multi-year
period, which is used to determine
the normal production level of a farm.
Adhesion - 🧠ANSWER ✔✔Characteristic of an insurance contract. Means that
one party (the insurer) sets the terms, and the other (the policyholder) can
"take it or leave it."
Adjusted Gross Revenue (Crop Insurance) - 🧠ANSWER ✔✔Narrowest (and least
expensive) form of crop revenue insurance. Insures farm revenue as a whole
Page 2 of 21
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER:
619652435. TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED
, instead of individual crops. Guarantees a percentage of the insured farm's
average revenue.
Adjuster - 🧠ANSWER ✔✔An agent who, for compensation, processes insurance
claims. The adjuster investigates the damages, evaluates the claim, and makes a
fair and equitable settlement based on the insurance contract. Can represent
either the insured or the insurer.
Adjuster - Emergency - 🧠ANSWER ✔✔Adjusters who are temporarily licensed by
the insurance commissioner to handle claims during catastrophes or
emergencies that produce an overwhelming number of claims in a short period
of time.
Adjuster - Independent - 🧠ANSWER ✔✔Self-employed adjusters who contract
with multiple insurers at the same time. Paid on a commission or fee-plus-
expenses basis for each claim. Also called: Fee Adjuster, Bureau Adjuster.
Adjuster - Public - 🧠ANSWER ✔✔An adjuster who is hired to represent the
claimant and help determine a fair indemnification. Usually specializes in
appraisals and negotiation. Paid commission, usually a percentage of final
settlement.
Page 3 of 21
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER:
619652435. TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED
