Claims Adjuster

Claims Adjuster Exam with 100% Correct Answers 2023 Insurance - Correct answer--an economic device used to protect against extreme unforeseen loss - the transfer of risk from one party to another Premium - Correct answer--the fee paid by the insured in exchange for insurance Principle of Indemnity - Correct answer--the insurer should be restored to where they were before the incident -no profit can be made Idemnification - Correct answer--to compensate for loss or damage; to provide sec...

Claims Adjuster Exam 1| 133 QUESTIONS| 11 PAGES| GRADED A Actual Cash Value (ACV) Correct Answer: Cost to replace property with new property of like kind and quality less depreciation. Combined Single Limit Correct Answer: One limit per occurrence is what we pay up to Split limit Correct Answer: What we pay up to per person and per occurrence Deductible Correct Answer: What the customer will have to pay; we cover everything else Declarations Page (Dec Page) Correct Answer: The basic informa...