ADJUSTER PRO-INSURANCE ADJUSTER TEST WITH QUESTIONS AND ANSWERS
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Course
ADJUSTER PRO-INSURANCE ADJUSTER
Institution
ADJUSTER PRO-INSURANCE ADJUSTER
ADJUSTER PRO-INSURANCE
ADJUSTER TEST WITH
QUESTIONS AND ANSWERS
ACTWhat is insurance? - CORRECT ANSWERS-protection against financial
loss
what is a premium - CORRECT ANSWERS-a scheduled amount to be
paid for an insurance policy.
What are premiums used for - CORRECT ANSWERS-premiums are
...
ADJUSTER PRO-INSURANCE
ADJUSTER TEST WITH
QUESTIONS AND ANSWERS
ACTUAL EXAM 100%
,What is insurance? - CORRECT ANSWERS-protection against financial
loss
what is a premium - CORRECT ANSWERS-a scheduled amount to be
paid for an insurance policy.
What are premiums used for - CORRECT ANSWERS-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? - CORRECT ANSWERS-the insurer collects
premiums from all policy holders and uses them to pay out the claims
of a few.
what is Indemnity - CORRECT ANSWERS-payment for damages, that is
not more or less than the amount caused by the damage.
principle of idemnity - CORRECT ANSWERS-insurance will pay no more
or less than the actual financial loss suffered
, indemnification may also include - CORRECT ANSWERS-repairs to
property
reimbursement for additional living expenses
rental cars and hotels
costs directly associated with a lossA
4 Parts of Legal Contract - CORRECT ANSWERS-1. Agreement
2. Consideration
3. Competent Parties
4. Legal Purpose
legal contract - agreement - CORRECT ANSWERS-mutual intent by
offeror and offeree
six special characteristics of insurance contracts - CORRECT
ANSWERS-1. Personal
2. adhesion
3. utmost good faith
4. aleatory
5. unilateral
6. conditional
what kind of contract is an insurance policy? - CORRECT ANSWERS-
Personal contract
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