Texas adjusters license - Study guides, Class notes & Summaries

Mile High Adjusters - Texas All Lines Adjuster License Study Guide Questions and Answers

USAA Licensing Exam Questions and Answers 2024 with complete solution Insurance - answerTransfer of risk from one person or organization to an insurance company Indemnity - answerThe principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - answerMathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - answerProof that someone stands to lose financially if a loss occurs; must exist at ...

Mile High Adjusters - Texas All Lines Adjuster License Study Guide

Mile High Adjusters - Texas All Lines Adjuster License Study Guide

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 ...

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...

Texas Adjuster License Questions and Answers Latest (2023 / 2024) (Verified Answers)

All Lines Pre-License Course for Texas Adjusters Accident Correct Answer: Sudden, unexpected events that cause property damage or bodily injury. Actual Damages Correct Answer: Damages that have a specified cost to repair them Actual Total Loss Correct Answer: Complete destruction of insured property, so that nothing of value remains. ACV (Actual Cash Value) Correct Answer: This is the value of the property after depreciation. As ALE (Additional Living Expense) Correct Answer: If a homeow...

TEXAS ADJUSTER STUDY GUIDE REAL EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS Staff Adjuster - ANS On the payroll of an insurance company and are paid by a salary or by the hour. Independent Adjuster - ANS handle the claims for one or more insurance companies Public adjusters - ANS work on behalf of the insured How many days notice does the Commissioner need to issue a temporary license or emergency license for training purposes? - ANS 5 days Who regulates the insurance ind...