Examination
180 minutes
Instructions:
1. Read each question carefully.
2. Answer all questions.
3. Use the provided answer sheet to mark your responses.
4. Ensure all answers are final before submitting the exam.
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State Insurance Claims Adjuster- Pro Certification
2024- 2025
Adjuster- Pro Exam Complete Review Questions
with Correct Answers | 100% Pass Guaranteed |
Graded A+ |
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
Matching:
1. Replacement cost
2. Actual cash value
3. Annual depreciation
4. Accumulated Depreciation
5. Valued policy
6. Valuation
A. An item's annual depreciation multiplied by its age
B. Assigns a set value to each insured item
C. Replacement cost divided by item's useful life
D. The process of estimating what an item is worth
E. Cost to replace an item at today's market value
F. Replacement cost minus accumulated depreciation -
=Answer>> 1 - E
2-F
3-C
4-A
5-B
6-D
Define: Insurance - =Answer>> Transfers risk of
financial losses from one party to another
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Define: Insured - =Answer>> Individual or
organization that pays premiums in exchange for
protection
Define: Insurer - =Answer>> Company, group, or
government agency offering financial protection
Define: Insurance policy - =Answer>> A legally
binding contract in which the insurer agrees to take on
specific risks in exchange for the insured's premiums
Define: Principle of indemnity - =Answer>>
Restoration to previous financial condition; no more, no
less
Define: Statutory law - =Answer>> Based on written,
legislated laws
Define: Common law - =Answer>> Based on court
cases and customs
Define: Tort law - =Answer>> Body of law that applies
to civil court cases and addresses any civil wrongdoing
Define: Tortfeasor - =Answer>> The defendant in the
court case
Define: Complaint - =Answer>> Filed by a claimant
against a policyholder
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Define: Answer - =Answer>> Policyholder's response
to complaint
Define: Default judgment - =Answer>> Issued if
policyholder fails to answer complaint
Define: Compensatory damages - =Answer>> Awards
money for tangible and intangible damages
Define: Special damages - =Answer>> Money
awarded for exact value of tangible damages
Define: General damages - =Answer>> Money
awarded for intangible, emotional damages decided by
court
Define: Punitive damages - =Answer>> Awards
money for malicious, willful misconduct on the part of
the tortfeasor
Define: Statute of limitation - =Answer>> A plaintiff
has a limited time to file a complaint after an
occurrence
Define: Wrongful death act - =Answer>> Protects
parties associated with a death caused by negligence
Define: Waiver of sovereign immunity - =Answer>>
Individuals may sue government entities in certain
cases
Define: Workers' compensation law - =Answer>>
Keeps employees from suing their employers for
injuries
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