Adjuster pro in Study guides, Class notes & Summaries

Adjuster Pro Questions Study Guide EXAM ALL QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+ (BRAND NEW!! 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? - CORRECT ANSWER Coverage D - Loss of Use Fred lives near a business that is currently the object of a protest. As police try and break up the p...

ADJUSTER PRO - FLORIDA CERTIFIED ADJUSTER GLOSSARY EXAM | WITH QUESTIONS & ANSWERS | GRADED A+ | 2023- 2024 UPDATE Accumulated Depreciation Correct 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) Correct 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...

ADJUSTER PRO - FLORIDA CERTIFIED ADJUSTER GLOSSARY QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED 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 contra...

ADJUSTER PRO - FLORIDA CERTIFIED ADJUSTER GLOSSARY 2024 UPDATE|250+ QUESTIONS AND ANSWERS |ESSENTIAL FOR FLORIDA CLAIMS ADJUSTER LATEST EXAM 2024/2025. Accumulated Depreciation -- CORRECT 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) -- CORRECT ANSWER->> A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formu...

Florida Claims Adjuster Exam Questions and Answers Graded A 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 - Answer- 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 ma...

6-20 Claims Adjuster Questions and Answers Graded A+ The following are basic characteristics of a property or liability insurance contract, EXCEPT: A. Personal Contract B. Conditional Contract C. Loss Settlement Contract D. Contract of Adhesion - Answer ️️ -C. Loss Settlement Contract The Insurers responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property against further loss, and to give the in...

New York Adjuster Exam Questions and Answers Graded A+ (2024/2025) The insured has moved into a dwelling that was being build and was covered by the "Dwelling Under Construction" endorsement. How long does the insured have to report his / her occupancy to the insurance company? 30 days When a New York Homeowners policy is still in the 60-day underwriting period, the insurer may cancel it for any reason by providing a ______ notice. 30 day Personal property that is covered under the Person...

Adjuster Pro Practice Exam Questions And Answers All Verified 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? - ANS Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? - ANS It automatically covers wind and vandalism. Which of the following refers to being restored to the ...

Adjuster Pro Exam Prep 2023/2024 Questions and Answers 100% CorrectAdjuster Pro Exam Prep 2023/2024 Questions and Answers 100% CorrectAdjuster Pro Exam Prep 2023/2024 Questions and Answers 100% CorrectAdjuster Pro Exam Prep 2023/2024 Questions and Answers 100% CorrectCommon law is based upon - ANSWER-court decisions and customs. cause of loss or damage - ANSWER-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, ligh...

Adjuster Pro - Insurance adjuster test latest 2024 already passed What is insurance? - Answer ️️ -protection against financial loss what is a premium - Answer ️️ -a scheduled amount to be paid for an insurance policy. What are premiums used for - 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? - Answer ️️ - the insurer collects premiums from all ...