Adjuster pro section Study guides, Class notes & Summaries

Adjuster Pro Section-3 Complete Questions and Answers 2023

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...

Adjuster Pro Section-3

Adjuster Pro Section-6/70 Complete Questions and Answers 2023

Adjuster Pro Section-1 Exam 2023...

Adjuster Pro Section-1 Practice Questions 2023. 6 Characteristics of Insurance Contracts - ANSWER 1. Personal 2. Adhesion 3. Utmost Good Faith 4. Aleatory 5. Unilateral 6. Conditional Specific Limits - ANSWER Limits that apply to one specific type of property Morale Hazard - ANSWER carelessness or indifference to a loss because of the existence of insurance Moral Hazard - ANSWER Arises when people behave recklessly because they know they will be saved if things go wrong by their i...

Adjuster Pro Section-A1 Practise Test 2023 Adjuster's Ethical SItuation - CORRECT ANSWER--Adjuster make frequent decisions involving larger amounts of money -Adjusters should always determine a fair and equitable settlement that abides by the insurance contract Inducement - CORRECT ANSWER-An action, item, or promise made to someone to motivate them toward certain desired actions Consequences for Accepting Inducements - CORRECT ANSWER--Losing license -Reputation Loss -Lawsuits -Ja...

Adjuster Pro Section-6 Questions and Answers 2023 Adjuster's Ethical SItuation -Adjuster make frequent decisions involving larger amounts of money -Adjusters should always determine a fair and equitable settlement that abides by the insurance contract Inducement An action, item, or promise made to someone to motivate them toward certain desired actions Consequences for Accepting Inducements -Losing license -Reputation Loss -Lawsuits -Jail time Kickbacks Money or favors o...

Agent one who receives the authority to act on behalf of someone else Sales agent Contracted to sell and service insurance policies on behalf of the insurer Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:54 Full screen 6 Ways to Show Appreciation for Your Child's Teacher Adjusters Contracted to settle claims that arise against the insurer Power to bind What the agent says or does can bind the insurer Agents should take the utm...