Adjuster pro 2 exam - Study guides, Class notes & Summaries

FLORIDA CLAIMS ADJUSTER EXAM | QUESTIONS AND ANSWERS | GRADED A+ | 1. Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests: D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one paymen...

ADJUSTER PRO - INSURANCE ADJUSTER EXAM | WITH QUESTIONS & ANSWERS | GRADED A+ | UPDATE 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 pa...

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...

Adjuster Pro - Indiana - Chapter 4 Commercial Lines Exam (100% Correct) Adjuster Pro - Indiana - Chapter 4 Commercial Lines Exam (100% Correct) Commercial Package Policies: BOP Endorsements - Outdoor Signs - ANSWER - provides open-peril coverage for signs unattached to building Commercial Property Insurance - ANSWER - Covers direct and indirect losses related to business property Does not include farms and 1-4 family dwellings ACV RC is available as an endorsement if you follow coinsur...

Florida Claims Adjuster Exam Practice Questions and Answers Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - Ans:-D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is made by...

Adjuster Pro – Indiana License - Chapter 3 Personal Lines 2023 Exam Adjuster Pro – Indiana License - Chapter 3 Personal Lines 2023 Exam Standard Fire Policy - ANSWER - basic foundation of all homeowner's and commercial policies ACV Named peril policy that only covered fire and lightning first used in 1918 in NY Line of Coverage - ANSWER - A particular risk or group of risks covered by an insurance policy Monoline Policy - ANSWER - an insurance policy that covers only one risk o...

ADJUSTER PRO - INSURANCE ADJUSTER EXAM | WITH QUESTIONS & ANSWERS | GRADED A+ | UPDATE 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 - Florida Certified Adjuster Glossary Accumulated Depreciation - answerThe total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) - answerA 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 - answerOne of the characteristics of an insurance contract. Means that o...

1 / 34 FLORIDA CLAIMS ADJUSTER EXAM QUESTIONS AND ANSWERS 2023 EXAM GRADED A (Over 200 questions and answers 100% verified) 1. Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy.The insurance company will make a payment to: A. The first mortgagee, ABC B.The Insured C. Jointly to ABC and XYZ D. All listed interests: Ans- D. All listed interests Remember that the insurer is not responsible to know...

FLORIDA CLAIMS ADJUSTER EXAM 2024 (VERSION 1) | ACTUAL EXAM QUESTIONS WITH 100% CORRECT ANSWERS | SCORED A+ 1. Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests: D. All listed interests Remember that the insurer is not responsible to know the degrees of interest....