Examination
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State Insurance Claims Adjuster- Pro Certification
2024- 2025
Adjuster Pro: Insurance Adjuster’s Certification
Exam Comprehensive Review Questions with
Correct Answers | 100% Pass Guaranteed |
Graded A+ |
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
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>> payment for
damages, that is not more or less than the amount
caused by the damage.
principle of idemnity - =Answer>> insurance will pay
no more or less than the actual financial loss suffered
indemnification may also include - =Answer>> repairs
to property
reimbursement for additional living expenses
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rental cars and hotels
costs directly associated with a loss
4 Parts of Legal Contract - =Answer>> 1. Agreement
2. Consideration
3. Competent Parties
4. Legal Purpose
legal contract - agreement - =Answer>> mutual intent
by offeror and offeree
six special characteristics of insurance contracts -
=Answer>> 1. Personal
2. adhesion
3. utmost good faith
4. aleatory
5. unilateral
6. conditional
what kind of contract is an insurance policy? -
=Answer>> Personal contract
what is a contract of adhesion - =Answer>> the
insured must accept the entire contract with all of its
terms and conditions
Utmost Good Faith - =Answer>> An obligation to act
in complete honesty and to disclose all relevant facts.
Aleatory Contract - =Answer>> a contract where the
values exchanged may not be equal but depend on an
uncertain event
Unilateral Contract - =Answer>> insurance agrees
that they must pay in event of a claim. the insured can
stop paying premiums at any point.
only the insurer has promised to perform an action.
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Conditional Contract - =Answer>> A type of an
agreement in which both parties must perform certain
duties and follow rules of conduct to make the contract
enforceable.
Acronym for the four sections of an Insurance policy -
=Answer>> DICE
D - declarations page
I - Insuring Agreement
C- Conditions
E - Exclusions
Decelerations section - =Answer>> Always the first
section - establishes the following
Names of both parties
Policy number
Location and description of insured item
Dates of the policy
Amount and limit of coverage
Deductible
Premium
Definitions section - =Answer>> Defines terms used
to write policy including "collusion" "decay" "like kind
and quality"
Includes important language for adjusters to know
Insuring agreement section - =Answer>> What is
covered and how
Which causes of loss are covered
Any services provided
Any exclusions to coverage
The maximum limit of policy coverage in dollars
Conditions section - =Answer>> Insurer specifies any
limits or qualifications the policy holder must meet
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