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Adjuster Pro - Insurance adjuster Test Exam Questions With Correct Answers 100% Verified. What is insurance? - Answerprotection against financial loss what is a premium - Answera scheduled amount to be paid for an insurance policy. What are premiums used for - Answerpremiums 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? - Answerthe insurer collects premiums from all policy...

Adjuster Pro - Florida Certified Adjuster Glossary Exam Q&A 100% Guaranteed Success 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 c...

Adjuster Pro - Insurance Adjuster Test Exam Q&A 100% Guaranteed Pass What is insurance? - protection against financial loss what is a premium - a scheduled amount to be paid for an insurance policy. What are premiums used for - 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? - the insurer collects premiums from all policy holders and uses them to pay out the clai...

Adjuster Pro Questions Study Guide Exam,Latest Expert Premium Update()|Brand New Exam Questions With 100% Correct Answers, All Graded A+, Guaranteed Success. Ron works from home. After a kitchen fire renders his home uninhabitable, his is forced to rent an apartment in town while the repairs are made. Which type of coverage could help Ron pay for the cost of renting his apartment? - ANSWERCoverage D - Loss of Use Fred lives near a business that is currently t...

AdjusterPRO Final Exam Questions and Answers 100% Solved | Graded A+ -+What is a reserve, in insurance terms? - A pool of collected premiums that the insurer sets aside to pay claims Which of these scenarios is NOT an example of indemnification? - When trying to renew her dog's license, Ellen has to pay a penalty to the city for letting its rabies vaccination lapse. Ellen having to pay a fine is not an example of indemnification. Indemnification means being restored to the financi...

AdjusterPro - Practice Exam Questions and Answers 100% Solved Stephen's insurer denied his claim because the peril was not covered. But, according to Stephen's understanding of the policy, his loss should be covered, so he filed a dispute. During the trial, the jury agreed that the policy language was open to interpretation, so they decided in favor of Stephen. This is because: A. insurance policies are contracts of adhesion. B. insurance policies are conditional contracts. C...

Adjuster Pro: Indiana Adjuster's License - Practice Exam Q&A 100% Solved | Rated A+ On January 27, 2008, Ryan was using an exercise bike purchased from NusquamCycle when the chain broke, causing him to fall and severely bruise his knee. It seemed to heal just fine, but three years later, on January 25, 2011, Ryan's knee gave out while jogging. His doctor told him that he'll need surgery and that this deterioration resulted from the earlier accident with the exercise bike....

Adjuster Pro Texas Exam Questions and Answers 100% Solved | Graded A+ All of the following pieces of information can be found in the conditions section of an insurance policy EXCEPT: - Causes of loss that are not covered Which of the following best defines the principle of indemnity? - After a loss, the insured should be restored to his approximate financial condition before the loss SureTrust Insurance was founded and operates in Texas. In Texas, Suretrust is considered - a domes...

Adjuster Pro Practice Exam Questions and Answers 100% Solved | Graded A+ Stu has a collection of rare comic books. He wants to purchase theft insurance for his collection, separate from his home and other property. What term most accurately describes the type of policy Stu would purchase? - Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? - It automatically covers wind and vandalism. Which of the following refers to being restored to the ...