Claims adjuster 1 - Study guides, Class notes & Summaries

Adjuster Pro - Florida Certified Adjuster Glossary Exam Prep 2023. Accumulated Depreciation - ANSWER The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) - ANSWER A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion - ANSWER One of the characteristics of an insurance contrac...

Florida Claims Adjuster Exam 2023 1. Peril: Something that causes a loss. 2. Hazard: Something that increases the probability that a loss will occur. 3. Warranty: A policy condition, either based on information in the i nsureds appli- cation or inserted by the insurer. It is a guarantee of a fact. 4. Misrepresentation: An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 5. Concealment: Th...

Florida Claims Adjuster Exam EXAM 6-20 Claims Adjuster 154QESTIONS AND ALL ANSWERS ARE VERIFIED2023/2024 BEST EXAM FOR NURSING

ADJUSTER PRO - INSURANCE ADJUSTER TEST(QUESTIONS AND REVIEWED ANSWERS) 2023-2024 What is insurance? - CORRECT ANSWER-protection against financial loss what is a premium - CORRECT ANSWER-a scheduled amount to be paid for an insurance policy. What are premiums used for - CORRECT ANSWER-premiums are collected into a "pool" or "reserve to pay out claimants when needed. how can insurance companies afford to pay for an individuals catastrophic loss? - CORRECT ANSWER-the insurer collect...

Insurance adjuster exam questions Test bank Final 2023. During a storm, heavy winds cause a tree limb to break and fall onto Paul's house, causing $6,500 in damage. Paul's insurance company now considers his house: - ANSWER A Loss Which of the following best describes a "risk," according to the insurance definition? - ANSWER A potential for financial loss A lion at a zoo escaped when a zoo employee failed to follow protocol. The lion injured a zoo patron. In court, the injured patron...

Super-Duper Texas Adjuster License Final Exam Solved Questions With Revised Correct Detailed Answers 1. What is a hazard? - ANSWER risk of loss of property situations or behaviors that increase the 2. Insurance: Name the three kinds of hazards and give an example of each - ANSWER 1) Physical -- large hole in the front yard where someone could step in and hurt themselves 2) Morale -- leaving a home with the doors unlocked and the windows opened 3) Moral -- embezz...

N.C. Claims Adjuster Exam Latest 2023 Rated A+ Inception/Expiration Date an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. Occurrence Date Date of which the loss occurred Identification of parties involved The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names and addresses of any witness(s)....

FLORIDA Claims Adjuster Exam 1 | Questions with 100% Correct Answers | Verified | Updated 2024

LA Claims Adjuster Property And Causality Practice Exam 1 Questions And Answers LA Claims Adjuster Property And Causality Practice Exam 1 Questions And Answers