Examination
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State Insurance Claims Adjusters Certification 2024-
2025
Alabama Adjusters License Exam Review Questions
and Answers | 100% Pass Guaranteed | Graded A+ |
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
Covers expenses associated with a covered accident
and can extend to ambulance and emergency room
expenses, intensive care, and hospital costs. Accident
insurance also provides for loss of income, and a
death benefit if injuries prove fatal - =Answer>>
Accident Insurance
The total decrease in an item's value over a period of
time. Formula: (annual depreciation x number of
years used). Subtract this number from the item's
replacement cost to get its actual cash value (ACV). -
=Answer>> Accumulated Depreciation
In crop insurance, the deadline for providing the insurer
with an acreage report, which is used to
determine the amount of coverage needed and the
premium charged for a particular crop. - =Answer>>
Acreage Reporting Date
A valuation method used by insurers to reflect an
item's current market value right before being
damaged
or destroyed. Formula: (replacement cost -
accumulated depreciation) - =Answer>> Actual Cash
Value (ACV)
A history of a farmer's crop yields over a multi-year
period, which is used to determine the normal
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production level of a farm. - =Answer>> Actual
Production History
Characteristic of an insurance contract. Means that one
party (the insurer) sets the terms, and the other
(the policyholder) can "take it or leave it. -
=Answer>> Adhesion
Narrowest (and least expensive) form of crop revenue
insurance. Insures farm revenue as a whole
instead of individual crops. Guarantees a percentage of
the insured farm's average revenue. - =Answer>>
Adjusted Gross Revenue
(Crop Insurance)
An agent who, for compensation, processes insurance
claims. The adjuster investigates the damages,
evaluates the claim, and makes a fair and equitable
settlement based on the insurance contract. Can
represent either the insured or the insurer. -
=Answer>> Adjuster
Adjusters who are temporarily licensed by the
insurance commissioner to handle claims during
catastrophes or emergencies that produce an
overwhelming number of claims in a short period of
time. - =Answer>> Adjuster - Emergency
Self-employed adjusters who contract with multiple
insurers at the same time. Paid on a commission or
fee-plus-expenses basis for each claim. Also called: Fee
Adjuster, Bureau Adjuster. - =Answer>> Adjuster -
Independent
An adjuster who is hired to represent the claimant and
help determine a fair indemnification. Usually
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