Exam (elaborations)
Adjuster Pro Texas Questions And Answers With Verified Solutions Latest Updated 2024
- Course
- Adjuster pro
- Institution
- Adjuster Pro
Adjuster Pro Texas Questions And Answers With Verified Solutions Latest Updated 2024
[Show more]
Content preview
Adjuster Pro Texas Questions AndAnswers With Verified Solutions Latest
Updated 2024
All of the following pieces of information can be found in the conditions section of
an insurance policy EXCEPT: - ANSWER✔✔ Causes of loss that are not
covered
Which of the following best defines the principle of indemnity? - ANSWER✔✔
After a loss, the insured should be restored to his approximate financial
condition before the loss
SureTrust Insurance was founded and operates in Texas. In Texas, Suretrust is
considered - ANSWER✔✔ a domestic insurer
What is a reserve, in insurance terms? - ANSWER✔✔ A pool of collected
premiums that the insurer sets aside to pay claims
Which of the following would you find in the Conditions section of an insurance
policy? - ANSWER✔✔ The insured's duty after a loss
Which of the following is found in the declarations page of an insurance policy? -
ANSWER✔✔ The name of the insured party
Which of the following refers to being restored to the financial condition you were
in before a loss? - ANSWER✔✔ Indemnification
,Dr. Nelson routinely schedules her patients for lab tests that they dont need so she
can charge their insurers for more money. Dr. Nelson is: - ANSWER✔✔
committing health insurance fraud
Six Starts Development Company has just purchased several large properties in
Las Vegas. As a result of this large purchase, they are a little short on money
and decide to save money by not purchasing insurance on their new
properties. Six Stars is practicing: - ANSWER✔✔ Risk retention
Which of the following people committed soft fraud? - ANSWER✔✔ Rafael
accidentally slipped on a wet floor at the supermarket. Although his only
injury was a sprained ankle, he claimed he had back and neck pain when he
sued the supermarket in an effort to get more money in the settlement.
When a car stops short in front of Mike's car, he manages to hit the brakes in time
and avoids a collision. To Mike's surprise, the other driver then throws the
car into reverse and backs into Mike's car! The other drivers actions are an
example of: - ANSWER✔✔ Hard fraud
When Louise goes online and fills out phony applications with XYZ Auto
Insurance in order to print the temporary insurance cards and sell them for a
profit on the black market, she is: - ANSWER✔✔ Committing hard fraud
Lucy has insurance on an expensive necklace she likes to wear to work every day.
After work, she takes it off and leaves it in her car's cupholder so she can put
it back on in the morning on her way to work. Lucy's behavior would be
considered a: - ANSWER✔✔ Morale hazard
When an insurer issues an insurance policy, the actual item, person, or organization
that is being insured is called the: - ANSWER✔✔ Risk
,Which of the following situations does not involve an instance of "pure risk" -
ANSWER✔✔ Loss of money invested in the stock market
Which of the following is an example of how some insurers are fighting back
against insurance fraud? - ANSWER✔✔ Starting fraud busting units staffed
with former detectives and police officers
Which of the following is NOT a form of insurance fraud? - ANSWER✔✔
Increasing your insurance coverage when you think a loss is likely
Steve has just purchased a wedding ring for his new bride. If something were to
happen to the ring, he'd be out of a lot of money, so he purchases an
insurance policy. He is able to do this because: - ANSWER✔✔ The ring is a
pure risk
Haley takes a bottle of water into a store, pours some of it on the floor when no one
is looking, and then pretends to slip and fall. She cries out for help in
apparent pain until someone comes to her aid. She then sues the store for her
fake injury in an effort to collect an insurance settlement. What has Haley
committed? - ANSWER✔✔ Hard fraud
After an earthquake, Jake's home is still standing, but it is a little shaken. The
damage is not extensive but Jake wants to cash in on the situation, so he
takes a sledgehammer to some of his extra belongings and adds them to his
claim. Jake has committed: - ANSWER✔✔ Property insurance fraud
Which of the following is an example of a hazard? - ANSWER✔✔ Sandra's home
is in an area of Los Angeles that is often hit by earthquakes
, Risk avoidance is a risk management technique that: - ANSWER✔✔ Eliminates
risk
An "occurrence" is defined as: - ANSWER✔✔ An unexpected event that causes
loss
When Sally applies for an auto policy, her agent issues her a _______ so that she
can benefit from insurance protection while he underwrites the policy. -
ANSWER✔✔ Binder
Jane's shed burns to the ground during a tornado, when the high winds break a wall
of the shed, knocking over a lantern inside. What is the proximate cause of
the loss? - ANSWER✔✔ Wind
During a storm, lightning strikes a tree in Harry's yard and starts a fire that spreads
to his shed where he keeps all his equipment for his landscaping business. In
addition to the shed, Harry has to purchase all new equipment to stay in
business. The cost to replace the equipment would be considered: -
ANSWER✔✔ A direct loss
Clark is filling out an application for an insurance policy. The application asks for
his birth date, and Clark writes 1/24/67. His actual birthday is 1/24/63, but
he likes to appear younger so he uses a different date. This would be called:
- ANSWER✔✔ Misrepresentation
Jason's auto policy states that the insurer may cancel coverage if a premium is
more than 30 days late. However, Jason is currently more than 30 days late,
and has been so five times in the last year, and his insurer has done nothing
about it. When Jason gets into an accident and files a claim, which of the
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
84669 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now