Examination
180 minutes
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2. Answer all questions.
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State Insurance Claims Adjuster- Pro Certification
2024- 2025
Adjuster- Pro Exam Insurance Review Questions
with Correct Answers | 100% Pass Guaranteed |
Graded A+ |
Read All Instructions Carefully and Answer All the
Questions Correctly Good Luck: -
An economic device used to protect against the risk of
realizing unforeseen and extraordinary financial loss
is called: - =Answer>> insurance
In an insurance contract, the policyholder gives the
insurer _____, and the insurer gives the policyholder -
=Answer>> premium payments; peace of mind
The transfer of risk from one party to another is called:
- =Answer>> insurance.
The Principle of Indemnity is designed to prevent: -
=Answer>> an insured from making a profit.
Which of the following best defines "insured"? -
=Answer>> An individual or organization that pays
premiums in exchange for financial protection
What are the four requirements of a legally binding
contract? - =Answer>> Agreement, consideration,
competent parties, legal purpose
Melinda's home sustained $6,500 in damage when
Jared ran into it with his truck.
Melinda received $6,500
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from her insurance company, and Jared also paid her
$5,000. Melinda has now profited from this loss and is
in violation of: - =Answer>> the principle of
indemnity.
In an insurance contract, consideration from both
parties is comprised of: - =Answer>> premiums from
the insured and the promise to pay from the insurer.
Sandra rear-ended Randy's car when he stopped
quickly for a yellow light that she was sure they were
both
going to make. The damage was minor, but Sandra was
worried her premiums would increase if the
accident was reported, so she gave Randy $500 in an
effort to keep it just between the two of them.
However, Randy filed the claim with his insurance
company and received a settlement check for $750.
What
has Randy violated? - =Answer>> The principle of
indemnity
An insurer can rescind a policy at the policyholder does
any of the following except - =Answer>> Fails to pay
premium
Frank purchased a $150,000 insurance policy for his
home, which is valued at $125,000 with the hopes of
making a $25,000 profit in event his home is destroyed.
After Frank burns his house down, he falls a claim
against his homeowners policy. Assuming that Frank's
policy includes an over insurance provision, how much
will his ensure indemnify Frank for his loss? -
=Answer>> $0
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