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AdjusterPro - Practice Exam Questions and Answers 100% Solved Stephen's insurer denied his claim because the peril was not covered. But, according to Stephen's understanding of the policy, his loss should be covered, so he filed a dispute. During the trial, the jury agreed that the policy ...

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  • December 30, 2024
  • 107
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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AdjusterPro - Practice Exam Questions

and Answers 100% Solved


Stephen's insurer denied his claim because the peril was not covered. But,

according to Stephen's understanding of the policy, his loss should be

covered, so he filed a dispute. During the trial, the jury agreed that the

policy language was open to interpretation, so they decided in favor of

Stephen. This is because:



A. insurance policies are contracts of adhesion.

B. insurance policies are conditional contracts.

C. insurance policies are contracts of utmost good faith.

D. insurance policies are personal contracts. - ✔✔A. insurance policies are

contracts of adhesion.

"We will provide the insurance described in this policy in return for the

premium and compliance with all applicable provisions of this policy." In

which section of the insurance policy would this statement be found?



A. Definitions
1
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.

,B. Declarations

C. Insuring Agreement

D. Endorsements - ✔✔C. Insuring Agreement

Melinda's home sustained $6,500 in damage when Jared ran into it with his

truck. Melinda received $6,500 from her insurance company, and Jared

also paid her $5,000. Melinda has now profited from this loss and is in

violation of:



A. the principle of subrogation.

B. federal law.

C. the principle of indemnity.

D. state law. - ✔✔C. the principle of indemnity.

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?



A. The principle of insurable interest

2
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.

,B. The principle of subrogation

C. The principle of indemnity

D. The principle of loss minimization - ✔✔C. The principle of indemnity

Darnell is applying for auto insurance with his agent. Currently, he only

wants to get a minimal amount of coverage to keep his premiums as low as

possible, so he decides not to include uninsured motorist coverage on his

policy. His agent has him sign a document giving up his right to this

coverage. What is this called?



A. A warranty

B. An express waiver

C. A binder

D. An implied waiver - ✔✔B. An express waiver

An insurance policy's declarations page contains all of the following,

EXCEPT:



A. the deductible.

B. the dates of the policy term.

C. the perils insured against.

D. the coverage limit. - ✔✔C. the perils insured against.

3
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.

, An economic device used to protect against the risk of realizing unforeseen

and extraordinary financial loss is called:



A. risk avoidance.

B. insurance.

C. indemnification.

D. subrogation. - ✔✔B. insurance.

Which of the following does NOT constitute a legal termination of a contract

offer?



A. Rejection by offeree

B. Request for more information

C. Termination by operation of law

D. Revocation by offeror - ✔✔B. Request for more information

The Principle of Indemnity is designed to prevent:



A. having multiple payees on a policy.

B. an insured from making a profit.

C. insurers from making a profit.

D. subrogation. - ✔✔B. an insured from making a profit.

4
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.

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