Examination
180 minutes
Instructions:
1. Read each question carefully.
2. Answer all questions.
3. Use the provided answer sheet to mark your responses.
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7. This is Exam which will assess your knowledge on the course Learning
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Good Luck!
, State Insurance Claims Adjuster-Pro Certification 2024-
2025
Adjuster Pro - Insurance Adjuster Exam Review Questions
and Answers | 100% Pass Guaranteed | Graded A+ |
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
Adjuster Pro Exam Test Questions and Answers
What is insurance? - protection against financial loss
what is a premium - a scheduled amount to be paid for an
insurance policy.
What are premiums used for - premiums are collected
into a "pool" or "reserve to pay out claimants when
needed.
Definitions section - Defines terms used to write policy
including "collusion" "decay" "like kind and quality"
Includes important language for adjusters to know
Insuring agreement section - What is
covered and how Which causes of loss
are covered
Any services provided
Any exclusions to coverage
The maximum limit of policy coverage in dollars
Conditions section - Insurer specifies any limits or
qualifications the policy holder must meet
Exclusions section - losses for which the insured is not
, covered for
Endorsements - Provision that modifies the coverage
of the original contract Add or subtract coverage
Synonyms - rider, addendum, attachment
Certificate of Insurance - A legal document that indicates
that an insurance policy has been issued, and that states
both the amounts and types of insurance provided.
Characteristics of social insurance -
Non profit Mandatory participation
Benefits prescribed by
law Designed to meet
needs of public
Government has
monopoly
Private Insurers - Sell insurance based on
needs and preferences Wide variety of
products
Exist to generate a profit
Insured party voluntarily participate
Stock Insurance Companies - Always
for profit Publicly traded
Stockholder provide capital and participate in
profit or losses "Non participation" insurers -
no dividends go to policy holders
Mutual Insurance Company - No
shareholders Policy holders elect
board of directors
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