Texas All-Lines Adjusting Questions and Correct Solutions Test Bundle

Accumulated Depreciation - The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date - The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and...

The insured has filed a claim under the "Business Income Department Properties - Broad Form" because the primary buyer of products and services from the business has filed for bankruptcy under this form the primary buyers business would be known as - A recipient location recipient location -...

insurance - financial took that protects individual and organizations from unforeseen and extraordinary financial losses by transferring risk to another party insured - individual or organization that pays premiums in exchange for protection insurer - company, group, or government age...

Accumulated Depresciation - 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) - An item's current market value right before being damaged or destroyed. Formula: (Replacement Cost-Accumulated Deprec...

In order to become a licensed Insurance Adjuster in the state of TX, an individual must be_______________ yrs old. - 18 The Texas All Lines Adjuster License can only be held by residents of TX? T or F - False List type of Insurance Adjuster Licenses available in Texas: - 1. All Lines ...

All of the following are exempted from the requirement of an adjuster's license examination except: A. Those persons holding CPCU designation; B. those persons adjusting workers compensation claims; C. Those persons who have received the Associate in Claims (AIC) designation; D. Those persons who h...

DP - valuation - DP-1 - ACV building & contents DP-2/3 - RCV building & ACV contents DP - limit for fair rental value - 20% of A DP - coverages (A-E) - A - dwelling B - other structures C - personal property D - fair rental value E - additional living expense DP - limit for ad...

Define Accident - An unforeseen, unintended even; something unexpected Define Additional Living Expenses - Extra charges covered by homeowner's policies over and above the policyholder's customary living expenses due to damage by a covered peril that makes the home temporarily uninhabitab...

A severe thunderstorm damaged a policyholder's residence. He called and asked how long it would be before he receives payment for his claim. Which of the following would NOT be an appropriate response? - We have 6 months to reach a final settlement with you. Janelle has just graduated college...