CLAIMS ADJUSTER BUNDLED EXAMS (100% VERIFIED)

1. Peril: Something that causes a loss. 2. Hazard: Something that increases the probability that a loss will occur. 3. Warranty: A policy condition, either based on information in the insureds appli- cation or inserted by the insurer. It is a guarantee of a fact. 4. Misrepresentation: An untrue s...

1. A claim in the property/casualty industry Is defined as:: an assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damages 2. when you purchase insurance, you are buying:: peace of mind that if an ...

1. Florida No-Fault Tort Exemption: Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 2. 4 Exceptions to Tort Exemption(Threshold of No-Fault): 1. Significant and Permanent loss of bodily function. 2. Permanent injury other than scarring and disf...

1. The insurer and insured agree to a specific value of insured item: Agreed Value Policies 2. Someone who has care, custody or control of another's property: Bailee 3. Claim filed by policy holder against his _: First Party Claim 4. When a person who entrusts another with an object and it resul...

1. Which of the following is NOT one of the four critical elements of a contract? (A) A mutual understanding and agreement with the terms of the contract. (B) Written evidence of the agreement and its terms. (C)A legal purpose. (D)Consideration, consisting of money or a promise of performance...

1. Those who are eligible for coverage under the Florida Automobile Joint Underwriting Association are?: Military Personnel A non-resident owning an automobile in Florida A non-resident subject to Florida no-fault law 2. A forcible entry into locked premises and the carrying away of the property o...

1. What is insurance?: protection against financial loss 2. what is a premium: a scheduled amount to be paid for an insurance policy. 3. What are premiums used for: premiums are collected into a "pool" or "reserve to pay out claimants when needed. 4. how can insurance companies afford to pay f...

1. Accumulated Depreciation: The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) 2. Actual Cash Value (ACV): A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formul...

1. What is an eligible building for flood insurance?: A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community 2. What is Builders Risk Coverage?: Covers buildings in ...

1. Actual Cash Value (ACV): Cost to replace property with new property of like kind and quality less depreciation. 2. Combined Single Limit: One limit per occurrence is what we pay up to 3. Split limit: What we pay up to per person and per occurrence 4. Deductible: What the customer will have to ...

1. An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of: The insured and insurer 2. An insurer gives which of the following as Consideration for an insurance policy?: A Promise 3. The interest of the insured and all other persons in the property involved in a claim ...