California adjuster - Study guides, Class notes & Summaries

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Which of the following dwelling forms provides coverage for loss of rental income? - The Basic, Broad and Special Form - The Basic and Broad Forms only - The Broad and Special Forms only - The Special Form only - Correct Answer The correct answer is: The Basic, Broad and Special Form. EXPLANATION: All of the forms provide for rental value coverage. In the DP-2 and DP-3, it is 20% of the Coverage A limit and is additional coverage. With the DP-1, the 20% coverage reduces the avail...

California Adjuster PSI Exam Questions and Answers (100% Correct Answers) 2024California Adjuster PSI Exam Questions and Answers (100% Correct Answers) 2024

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California Adjuster PSI Exam Questions with Verified Solutions Latest Which of the following is not a duty of an insurer in case of a loss? Conduct a thorough investigation Establish claim procedures and methods of documentation Acknowledge receipt of a claim in a timely fashion Separate the damaged property from the undamaged property and protect the property from further loss - Answer -The correct answer is: Separate the damaged property from the undamaged property and protect the prop...

CALIFORNIA ADJUSTER EXAM PREP 2024 QUESTIONS WITH COMPLETE ANSWERS VERIFIED BY EXPERTS GRADED A++ The process where by a mutual insurer becomes a stock company is called Demutualization The process whereby a stock company a mutual insurer is called Mutualization The provision in a property policy which states that the insured has been paid up to their insurable interest is Valuation clause The part of the policy that states the amount of coverage the insured property policy period is D...

Which of the following is not a duty of an insurer in case of a loss? Conduct a thorough investigation Establish claim procedures and methods of documentation Acknowledge receipt of a claim in a timely fashion Separate the damaged property from the undamaged property and protect the property from further loss - ANSWER>>The correct answer is: Separate the damaged property from the undamaged property and protect the property from further loss. EXPLANATION: The insurance company is no...

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California Adjuster Licensing Test 2024 – Complete Questions & Answers (Rated A+) California Adjuster Licensing Test 2024 – Complete Questions & Answers (Rated A+) Business Owner Package (BOP) - ANSWER - bundles property, liability, and income protection in a single package. Sometimes referred to as homeowner's insurance for businesses. Is inflation coverage (guard) feature typically found in a BOP? - ANSWER - Yes What is the value feature in a BOP? - ANSWER - Replacement Cost ...