Franchise deductible - Study guides, Class notes & Summaries

Lender Interest Provisions - ANSWER-Protects lender interest by allowing the lender certain rights in the policy. Coinsurance Penalty - ANSWER-A property insurance provision that penalizes the insured's loss recovery if the limit of insurance purchased by the insured is not equal to or greater than a specified percentage (commonly 80 percent) of the value of the insured property. Underinsured - ANSWER-A situation resulting from a failure to carry enough coverage on the value of a property...

Adjuster Pro Exam Prep With 100% Correct Answers 2024 Common law is based upon court decisions and customs. cause of loss or damage peril Jim owns a home valued at $187,500, but he only has a $100,000 homeowner's policy and is underinsured. During a storm, lightning strikes Jim's home causing $45,000 in damages. The insurer decides to invoke a coinsurance penalty. How much will Jim be required to pay for the penalty? The coinsurance requirement of 80% means that Jim should have maintai...

©BRAINBARTER 2024/2025 Georgia Adjuster Exam Questions With 100% Verified Answers. Liaison - answercommunication or cooperation which facilitates a close working relationship between people or organizations. exemplary - answerideal model, representing the best fiduciary - answertrust, representation for a principal-contractor or insurance company Residual market (shared market) - answerauto insurance market serves drivers at high risk that are denied coverage by insurers 3 residual mar...

Louisiana Insurance Adjuster Exam Q & A

BUL 3310 Exam 4 FSU Bailey - Questions and Answers (Complete Solutions) Phil has a 1/4 partnership interest in Green & Sons. He has been denied access to the partnership books and records for over a year and he suspects that one of the partners has been engaging in secret business transactions using partnership funds. Phil wants to know the status of the business. Phil's remedy in this situation is to go to a court of equity for an ______________. Charging order Marshalling order Accounting De...

Florida 6-20 All Lines Adjuster Test Review |100% Correct| _______ limit an insurer's liability. A. Provisions B. Reinstatements C. Exclusions D. None of the above *Ans*C. Exclusions :All of the following events are considered acts of terrorism, except: A. Acts of riot and civil commotion B. Acts considered dangerous to human life, property or infrastructure. C. Acts resulting in damage within or outside the United States. D. Acts committed at the premises of any United S...

An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of: -ANSWER- The insured and insurer An insurer gives what as consideration for an insurance policy? -ANSWER- A promise The interest of the insured and all other persons in the property involved in a claim is found in: -ANSWER- A Proof of Loss An insured rear ends another driver's vehicle. The auto policy that pays damages to repair the damaged vehicle is a: -ANSWER- Liability policy Your insurance com...

Florida Insurance Exam 100% questions and correct answers Risk - ANSWERS the chance of financial loss Risk is NOT the loss itself, but the _________ of loss. - ANSWERS CHANCE Policy - ANSWERS a written contract for effecting insurance and includes Clauses, Riders, endorsements, and papers which are part of the contract Insurance - ANSWERS a contract where one undertakes to indemnify another or pay a specific amount determined on contingencies Binders - ANSWERS temporary insurance whic...

TAX2601 Assignment 3 (DETAILED ANSWERS) Semester 2 2023 - DUE 4 September 2023 100% TRUSTED workings, explanations and solutions. For assistance call or Whatsapp us on +25477 954 0132 . QUESTION 1 PART A Health Harmony (Pty) Ltd (“HH”) is a company offering various health and wellness services and sells health supplements. The company is situated in Johannesburg and its financial year ends on 31 March 2023. HH owns a 25% shareholding in another company specialising in organic juices, OJuicy...

The deductible - ANSWER-The dollar amount that the insured pays before the insurer is required to pay the remainder of the loss is known as? Replacement cost - ANSWER-Which loss settlement provides new for old? the claims adjuster's role in the insurance industry includes - ANSWER-Give appropriate legal advice and write binding contracts following are examples of a peril - ANSWER-Lighting, Explosion and Fire The abandonment clause - ANSWER-The clause that prohibits the insured from ...