Exam for adjuster pro Study guides, Class notes & Summaries

Adjuster Pro - Insurance adjuster test.

ADJUSTER PRO EXAM WITH REVISED ANSWERS (2023) Stu has a collection of rare comic books. He wants to purchase theft insurance for his collection, separate from his home and other property. What term most accurately describes the type of policy Stu would purchase? - CORRECT ANSWER-Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? - CORRECT ANSWER-It automatically covers wind and vandalism. Which of the following refers to being restored to the ...

TEST FOR ADJUSTER PRO, FLORIDA STUDY(QUESTIONS AND ANSWERS)A+ GRADED EXAM 2023-2024 - CORRECT ANSWER-Subtract the deductible from covered damages to get indemnification - CORRECT ANSWER-6 unique characteristics of insurance policy 1 Contracts of adhesion (court ez win) 2 Utmost good faith 3 aleatory 4 personal 5 Unilateral (only insurer has obligation) 6 Conditional - CORRECT ANSWER-1945 regulate insurance Naic doesn't give benefits to comissioners 90 day to pay hijacking on...

What is insurance? - Answer protection against financial loss what is a premium - Answer a scheduled amount to be paid for an insurance policy. What are premiums used for - Answer premiums are collected into a "pool" or "reserve to pay out claimants when needed. how can insurance companies afford to pay for an individuals catastrophic loss? - Answer the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. what is Indemnity - Answer paymen...

Adjuster Pro - Florida Certified Adjuster Glossary Exam Prep 2023. Accumulated Depreciation - ANSWER The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) 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) Adhesion - ANSWER One of the characteristics of an insurance contrac...

INDIANA PRO ADJUSTER EXAM 2024 | ACCURATE CURRENTLY TESTING EXAM QUESTIONS AND ANSWERS | VERIFIED AND ACCURATE FOR GUARANTEED PASS | LATEST UPDATE WITH A STUDY GUIDE AT THE END

1. 1. The insured carries a BOP policy with protective systems such as a sprinkler system. If the system becomes inoperative, the insured must advise the insurance company of the problem within if the system cannot be restored to working order: 48 hours Your Answer 2. 2. Tina has two policies (Policy X and Policy Y) that cover the same risk on a pro rata basis. Policy X has a limit of $100,000 and Policy Y has a limit of $25,000. When Tina suffers a loss totaling $75,000, how will the two pol...

INDIANA PRO ADJUSTER ACTUAL EXAM TEST BANK , PRACTICE EXAM AND STUDY GUIDE ALL QUESTION AND WELL ELABORATED ANSWERS TOP RATED VERSION FOR ALREADY A GRADED HIGHLY RECOMMENDED BY EXPERTS | NEW AND REVISED

Adjuster Pro - Insurance Adjuster Exam With Verified And 100% Correct Answers 2024

INDIANA PRO ADJUSTER EXAM 2024 | ACCURATE CURRENTLY TESTING EXAM QUESTIONS AND ANSWERS | VERIFIED AND ACCURATE FOR GUARANTEED PASS | LATEST UPDATE WITH A STUDY GUIDE AT THE END