CT All-Lines Adjuster Licensing Exam 2023/2024 with 100% complete solutions

Abandonment correct answersRelinquishing of property and letting go of all legal rights with the intent to claim a total loss. Abandonment Clause correct answersA property policy provision that stipulates that the insurer need not accept any damaged property that the insured chooses to relinquish. Absolute Liability correct answersThe performance of an act so dangerous as to be sufficient to trigger liability regardless of the degree of negligence. Accident correct answersAn unforeseen, unintended, and unexpected event, which occurs suddenly and at a definite place. Accounts Receivable Insurance correct answersPays for the cost of reconstructing accounts receivable records that have been damaged or destroyed by a covered peril. Action Over Claim correct answersA demand by a third party in a subrogation action suing for damages from the employer. (Worker's Compensation) Actual Cash Value (ACV) correct answersPlacing value on a property as of the time of its loss or damage. Additional Living Expense Insurance correct answersProvides payment for extra expenses made necessary by the insured's inability to reside in the insured dwelling because of a cover loss. Adhesion Contract correct answersStandardized set of agreements offered by one party to another on a take it or leave it basis. Admiralty Courts correct answersCourts of law that deal with matters pertaining to the sea.