Company or staff adjuster - Study guides, Class notes & Summaries

Accumulated Depreciation - Answer- 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) - Answer- 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 - Answer- One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the oth...

Abandonment correct answers When an insured relinquishes its claim to property to the insurer. Adjuster correct answers Licensed insurance professional who investigates or adjusts losses and also supervises the handling of claims. Adjuster, Staff and Independent correct answers Works for and represents the interests of an insurance company, either as a staff member or as an independent contractor to an insurer, including self-insurer. Adjuster, Publiic correct answers Works for and repr...

Texas All Lines Adjuster 2024 License Test – With Questions & Answers (Rated A+) Texas All Lines Adjuster 2024 License Test – With Questions & Answers (Rated A+) Accumulated Depreciation - ANSWER - The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date - ANSWER - The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charg...

Actual Cash Value (ACV) - Answer 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 - Answer Characteristic of an insurance contract. Means that one party (the insurer) sets the terms, and the other (the policyholder) can "take it or leave it." Adjuster - Answer An agent who, for compensation, processes insurance claims. Can represent either the in...

Accumulated Depreciation correct answers The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date correct answers The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. Actual Cash Value (ACV) correct answers A valuation method used by insurers to reflect an item's current market value right before...

Texas All Lines Adjuster Test Accumulated Depreciation - Answer- The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date - Answer- The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. Actual Cash Value (ACV) - Answer- A valuation method used by insurers to reflect an item's current market value...

Texas All Lines Adjuster Test Questions and Answers Accumulated Depreciation -Answer-The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date -Answer-The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. Actual Cash Value (ACV) -Answer-A valuation method used by insurers to reflect an item's curr...

Accumulated Depreciation - ANSWER-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) - ANSWER-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 - ANSWER-One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the other ...

Accumulated Depreciation correct answers 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) correct answers 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 correct answers One of the characteristics of an insurance contract. Means that one party (the insurer) sets the ...

Texas Adjuster Exam Unit 1company adjuster - correct answer What is another name for staff adjuster? Independent Adjuster - correct answer This type of adjuster usually handle claims for more than one company (and receives a fee based on time and expense) (pick one) staff adjuster, independent adjuster, contractors, or public adjuster Contractors - correct answer This type of adjuster may work for a company that furnishes adjuster for the handling of catastrophic losses. (Pick one) s...