Examination
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State Insurance Claims Adjusters Certification 2024-
2025
Alabama Adjuster Pro Exam Review Questions and
Answers | 100% Pass Guaranteed | Graded A+ |
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
An insurer practices risk reduction when it takes
precautions in order to reduce its exposure; for
example, requiring that all homes insured by a
homeowners policy have fire alarms installed. -
=Answer>> Risk Reduction
An insurer practices risk retention when it chooses to
insure a risk instead of denying coverage. Risk
Retention Groups Groups where the members insure
each other, using their own capital to write insurance
policies. - =Answer>> Risk Retention
Risk that might result in gain, loss, or no change in
circumstance (as opposed to pure risk, which does not
include the possibility of gain). - =Answer>> Risk,
Speculative
The last date on which an insurance application for a
particular crop can be completed and signed. -
=Answer>> Sales closing date
Salvage is damaged property that has cash value. In
HO the policyholder has the option of keeping the
salvage and accepting a smaller settlement from the
insurer. The insurer has the option of keeping the
salvage if they have fully indeminified the insured, but
in no case can the insured insist the insurer keep the
salvage. - =Answer>> Salvage
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Sometimes called "open-ended release" or
"rehabilitation settlement." The insurer agrees to pay
all of the special amages and general damages that
have accumulated so far, and agrees to pay special
damages in the future. - =Answer>> Scheduled
payment release
A resolution of a dispute, or an agreement. Settlement
allows an insurer and a claimant to resolve a case
before it reaches a court of law. - =Answer>>
Settlement
In Crop Insurance, a provision that covers reduction in
crop quality, as well as crop-yield losses. Small grains
are wheat, barley, and oats. See also "Coarse Grains" -
=Answer>> Small Grains
A statute based on the common law legal system that
specifies the maximum period of time, after damages
occur, that legal proceedings based on those damages
may be initiated. - =Answer>> Statute of Limitations
Law based on laws set forth by a governing authority;
i.e. state legislature - =Answer>> Statutory
A stipulation is something specifically agreed to in a
contract, such as an insurance contract. - =Answer>>
Stipulation
A Stock Insurance Company is owned by stockholders,
as opposed to its own policyholders (as is the case with
Mutual Insurance Companies). - =Answer>> Stock
- =Answer>> Strict Liability Holds a party 100%
liable for damages when the activity or instrument they
are performing is inherently dangerous.
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The ceding of the insured rights to the insurer to seek
reimbursement from liable parties. - =Answer>>
Subrogation
Payments by the insurer to the insured that exceed the
insurance policy's limits of liability. - =Answer>>
Supplementary payments
Any civil wrongdoing, whether intentional or
unintentional, resulting in a court action to remedy. -
=Answer>> Tort
When a negligent act causes unintentional damages to
another party. - =Answer>> Tort - negligent
A premeditated wrongful act that causes intentional or
intentional damages to another party. - =Answer>>
Tort - intentional
The body of law that addresses and provides remedies
for any civil wrongdoing performed on - =Answer>>
Tort law
- =Answer>> another party.
The defendant in a court case who committed the tort. -
=Answer>> Tortfeasor
County 10-year yield average as determined by the
National Agricultural Statistical Service. Used when
issuing a crop insurance policy to a farmer who lacks
four years of yield records on which to base coverage
and premium amounts. - =Answer>> Transitional
yield
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