TEXAS ALL LINES ADJUSTER EXAM (Version 2)
1. What is the failure to use that degree of care which n ordinary person of
reasonable
prudence would use under similar circumstances?
Negligence
2. What is a situation involving a person other than an insured?
Third Party Loss
3. What is the responsibility to another for one's negligence?
Liability
4. Mary has a homeowner's policy. Her Coverage A limit of liability is
$250,000 and her
Coverage B limit of liability is $125,000. Her policy has a 2% deductible.
What is her
deductible?
$5,000
5. The part of the insurance policy that details the rights and duties of the
insured and the
insurance company in the policy?
Conditions
6. What is a partial legal defense that reduces the amount of damages that a
person can
recover based upon the amount that this person's own negligence
contributed to the
loss?
Comparative Negligence
7. Value of property based on the current cost to replace it minus
depreciation?
Actual Cash Vale
, 8. This type of Auto Coverage pays for your damages if you were involved in
a hit and run:
Uninsured Motorist
9. What is the cost associated with replacing property at current market
prices?
Replacement Cost
10. The process when an insurer and insured have a dispute regarding the
amount of the
damage:
Appraisal
11. The intentional misrepresentation of a material fact that may void a
contract?
Fraud
12. What is the type of negotiation that is also sometimes called positional or
hardbargaining?
Distributive
13. An event that results in an insured loss and damages?
Occurrence
14. What is the period a policy is in force, from the beginning or effective
date?
Policy Period
15. The amount the insured must pay in a loss before any payment is due?
Deductible
16. The insurer must review the claim and accept or reject within how many
days?
15 calendar days
17. Oral or written false statement that is malicious
Defamation
1. What is the failure to use that degree of care which n ordinary person of
reasonable
prudence would use under similar circumstances?
Negligence
2. What is a situation involving a person other than an insured?
Third Party Loss
3. What is the responsibility to another for one's negligence?
Liability
4. Mary has a homeowner's policy. Her Coverage A limit of liability is
$250,000 and her
Coverage B limit of liability is $125,000. Her policy has a 2% deductible.
What is her
deductible?
$5,000
5. The part of the insurance policy that details the rights and duties of the
insured and the
insurance company in the policy?
Conditions
6. What is a partial legal defense that reduces the amount of damages that a
person can
recover based upon the amount that this person's own negligence
contributed to the
loss?
Comparative Negligence
7. Value of property based on the current cost to replace it minus
depreciation?
Actual Cash Vale
, 8. This type of Auto Coverage pays for your damages if you were involved in
a hit and run:
Uninsured Motorist
9. What is the cost associated with replacing property at current market
prices?
Replacement Cost
10. The process when an insurer and insured have a dispute regarding the
amount of the
damage:
Appraisal
11. The intentional misrepresentation of a material fact that may void a
contract?
Fraud
12. What is the type of negotiation that is also sometimes called positional or
hardbargaining?
Distributive
13. An event that results in an insured loss and damages?
Occurrence
14. What is the period a policy is in force, from the beginning or effective
date?
Policy Period
15. The amount the insured must pay in a loss before any payment is due?
Deductible
16. The insurer must review the claim and accept or reject within how many
days?
15 calendar days
17. Oral or written false statement that is malicious
Defamation
