Casualty adjuster - Study guides, Class notes & Summaries

SC Property, Casualty, Surety and Marine Adjuster 19-11 Licensing Course Exam

Texas Property & Casualty Adjusters Study Questions EXAM ALL QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+ (BRAND NEW!! What is the formula for figuring Actual Cash Value(ACV)? - CORRECT ANSWER Replacement cost minus depreciation equals ACV Define the appraisal process. When would the appraisal process be appropriate? - CORRECT ANSWER Used for value disputes. Each party selects an appraiser & umpire to make the decision. Which Personal Auto Policy coverage covers L...

Maine Adjuster Property and Casualty Exam 2 Questions and Answers 100% Pass The required minimum amounts of liability car insurance coverage in Maine - Answer- 50/100/25 Would a ferry crashing between the coast of Maine and Nova Scotia a be covered by the personal auto insurance policy - Answer- No Limit on Theft of Unscheduled Jewelry - Answer- $1500 When insurer and insured cannot agree on loss - Answer- they each hire an appraiser If the appraisers cannot agree on loss - Answer- they ...

MS Property & Casualty Questions and Answers Already Passed To renew a producer license which is been in affect more than 18 months, a producer must complete ___________ 24 hrs & 3 of those hours ethics To renew a producer license which is been in effect for 18 months or less, a producer must complete________ of CE. 12 hrs A producer must report to the commissioner any administrative action taken against the producer in any jurisdiction, for by another governmental agency in the s...

A customer has consumed contaminated food manufactured by the U-Eat company. It is discovered that the manufacturer failed to properly clean some of the equipment and as a result the food was spoiled. This is an example of: - strict liability This is an example of strict liability and is most commonly applied in Products Liability claims. Certain parties are held liable without regard to fault or negligence. If the claimant can prove that a product was defective and that the defect caused t...

Maine Adjuster Property and Casualty Exam 2 Questions and Answers 100% Pass The required minimum amounts of liability car insurance coverage in Maine - Answer- 50/100/25 Would a ferry crashing between the coast of Maine and Nova Scotia a be covered by the personal auto insurance policy - Answer- No Limit on Theft of Unscheduled Jewelry - Answer- $1500 When insurer and insured cannot agree on loss - Answer- they each hire an appraiser If the appraisers cannot agree on loss - Answer- they ...

Property and Casualty Adjuster Exam Questions and Answers 100% pass Indemnity - Answer- Insured restored to approximate financial condition as before loss occurred, no better or worse Independent Adjuster - Answer- must represent more than 1 company Binder - Answer- Commits company to act as if the policy has been issued, temporary contract, initiate coverage, oral or written, expires when policy coverages begins Consideration - Answer- insurer's promise to provide indemnity in the event...

Property and Casualty Adjuster Exam Questions and Answers 100% Pass Staff Adjusters - Answer- are on the payroll of an insurance company Independent adjusters - Answer- Usually handle claims for more than one company and receive a fee based on time and expense. Contractors - Answer- May work for a comapny that furnishes adjusters for the handling of catasrophic losses. They are paid in the same manner as independent adjusters. Public Adjusters - Answer- Work on behalf of the insured in ne...

Review for property and casualty adjuster exam Questions and Answers 100% Pass What is a hazard? - Answer- Something that increases the chance of a loss How many of hours of ethics - Answer- 3 An insurance contract has how many parties? - Answer- 2 parties 1. List the time restraints for response and payment of claims in Texas: - Answer- - 15 days to acknowledge claim - 5 days to pay if adjuster takes responsibility - 15 day extension for all weather related damage - 15 days to affirm o...

Review for property and casualty adjuster exam Questions and Answers 100% Pass What is a hazard? - Answer- Something that increases the chance of a loss How many of hours of ethics - Answer- 3 An insurance contract has how many parties? - Answer- 2 parties 1. List the time restraints for response and payment of claims in Texas: - Answer- - 15 days to acknowledge claim - 5 days to pay if adjuster takes responsibility - 15 day extension for all weather related damage - 15 days to affirm o...