Bureau adjusters - Study guides, Class notes & Summaries

Texas All Lines Adjuster Test Accumulated Depreciation - Answer- The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date - Answer- The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. Actual Cash Value (ACV) - Answer- A valuation method used by insurers to reflect an item's current market value...

ADJUSTER PRO TERMS QUESTIONS WITH COMPLETE SOLUTIONS UPDATED. Accumulated Depreciation 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) 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 One of the characteristics of an insurance contract. Means that one party (th...

ADJUSTER PRO TERMS QUESTIONS WITH COMPLETE SOLUTIONS UPDATED. Accumulated Depreciation 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) 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 One of the characteristics of an insurance contract. Means that one party (th...

Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by insurers to reflect an item's current market value right before being damaged ...

Insurance adjuster CORRECT ANSWER Any person who, as an independent contractor, or as an employee of an independent contractor, adjustment bureau, association, insurance company or corporation, local recording agent, managing general agent, or self-insured, investigates or adjusts losses on behalf of either an insurer or a self insured, or any person who supervises the handling of claims. Staff Adjusters CORRECT ANSWER On the payroll of an insurance company and are paid a salary or by hour ...

ADJUSTER PRO - FLORIDA CERTIFIED ADJUSTER GLOSSARY QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED Accumulated Depreciation 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) 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 One of the characteristics of an insurance contra...

Texas All Lines Adjuster Test - Questions And Answers GUARANTEED PASS Adjuster - An agent who, for compensation, processes insurance claims. Canrepresent either the insured or the insurer Acreage Reporting Date - The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premiumcharged for a particular crop. Accumulated Depreciation - The total decrease in an item's value over a period oftime. Formula: (Annual Depre...

Insurance Correct Answer transfer of risk Insurance Correct Answer transfer of risk Accident Insurance Correct Answer Covers expenses associated with a covered accident and can extend to ambulance and emergency room expenses, intensive care, and hospital costs. Accident insurance also provides for loss of income, and a death benefit if injuries prove fatal. Accumulated Depreciation Correct Answer The total decrease in an item's value over a period of time. Formula: (annual depreciation...

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...

Accumulated Depreciation 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) 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 One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the other (the insured) can 'take it...