Adjuster pro section 6 - Study guides, Class notes & Summaries

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...

Life, accident and health insurance Texas General Lines - EXAM 2024 update Life, accident and health insurance Texas General Lines - EXAM 2024 update Email me if you need answers LIFE SECTION 1 - LIFE SECTION 1 1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20- year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay? - A- $50,000 Whole Life policy B- $50...

Life, accident and health insurance Texas General Lines - EXAM 2024 update Life, accident and health insurance Texas General Lines - EXAM 2024 update LIFE SECTION 1 - LIFE SECTION 1 1) Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20- year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay? - A- $50,000 Whole Life policy B- $50,000 Level Term policy for 20 yea...

2023-2024 ADJUSTER PRO EXAM PREPARATION Common law is based upon - CORRECT ANSWER-court decisions and customs. cause of loss or damage - CORRECT 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, 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? - CORRECT ANSWER-The coinsurance requirement o...

Adjuster Pro Practice Exam The source of the adjusters authority - CORRECT ANSWER-In the context of insurance adjusting, who is the principal? Coverage is not negotiable - CORRECT ANSWER-When Nancy is pulling into her driveway, she accidentally hit the gas and plowed through her front wall. She tries to negotiate the claim with the adjuster, why is this not possible? True - CORRECT ANSWER-True or false: assuring a claimant a policy is covered without determining the cause of loss is c...

Adjuster Pro Section-3 Complete Questions and Answers 2023 The Personal Auto Policy (PAP) - Answer - A policy that combines liability insurance with other optional coverages PAP Policies can cover - Answer - -Individuals and residing family members -People driving car with owner's permission -Four-wheeled vehicles under 10,000 lbs *Insurable interest is required PAP Policies will indemnify for: - Answer - -Property Damage -Personal Injury -Legal Defense What will PAPs not ...

Adjuster Pro: Indiana Adjuster's License Exam Questions With Correct Answers Latest 2024/2025 (100% SOLVED) On January 27, 2008, Ryan was using an exercise bike purchased from NusquamCycle when the chain broke, causing him to fall and severely bruise his knee. It seemed to heal just fine, but three years later, on January 25, 2011, Ryan's knee gave out while jogging. His doctor told him that he'll need surgery and that this deterioration resulted from the earlier accident with the exercis...

Claims Adjuster (Florida)| 206 questions| with complete solutions Claims Adjuster (Florida)| 206 questions| with complete solutions 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 - Correct Answer -D. All listed interests Remember that the insurer is not respo...

Adjuster Pro-Insurance Adjuster Exam With Correct Questions And Answers 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 collects premiums f...

Florida No-Fault Tort Exemption - Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) - 1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? - National Flood Insurance Program Form SR-22 - Drivers Convicted of DUI or a traff...