Adjuster pro terms - Study guides, Class notes & Summaries
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ADJUSTER PRO - FLORIDA CERTIFIED ADJUSTER GLOSSARY EXAM TERMS GRADED A+
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ADJUSTER PRO - FLORIDA CERTIFIED ADJUSTER GLOSSARY EXAM TERMS GRADED A+
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Adjuster Pro SC - Mod 1 - Insurance Terms and Related Concepts WITH 100% CORRECT ANSWERS 2024
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Principal of Indemnity 
insured's property should be restored to it's previous state, no better no worse, insured cannot profit from the loss 
 
 
 
indemnification 
compensation for loss 
 
 
 
 
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legal contracts must have: 
agreement, consideration, competent parties, legal purpose 
 
 
 
6 special characteristics of insurance contracts 
personal 
adhesion 
utmost good ...
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Adjuster Pro - Insurance adjuster test Questions And Answers
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Adjuster Pro - Insurance adjuster test Questions And Answers 
 
What is insurance? - ANS protection against financial loss 
 
what is a premium - ANS a scheduled amount to be paid for an insurance policy. 
 
What are premiums used for - ANS premiums are collected into a "pool" or "reserve to pay out claimants when needed. 
 
how can insurance companies afford to pay for an individual's catastrophic loss? - ANS the insurer collects premiums from all policyholders and uses them to...
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Adjuster Pro - Insurance adjuster test| 154QUESTIONS(WELL ANSWERED)| 13 PAGES
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Adjuster Pro - Insurance adjuster test| 154QUESTIONS(WELL ANSWERED)| 13 PAGES 
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 "reserveto pay out claimants when needed. 
how can insurance companies afford to pay for an individuals catastrophic loss? Correct Answer:the insurer collects premiums from all p...
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ADJUSTER PRO FLORIDA CERTIFIED ADJUSTER GLOSSARY 2023-2024
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ADJUSTER PRO FLORIDA CERTIFIED 
ADJUSTER GLOSSARY 2023-2024 
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) 
Adhesion - CORRECT ANSWER-One of the characteristics of ...
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Adjuster Pro - Insurance adjuster test| 154 QUESTIONS(WELL ANSWERED)|
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Adjuster Pro - Insurance adjuster test| 154 QUESTIONS(WELL ANSWERED)| 
What is insurance? ANS-protection against financial loss 
 
what is a premium ANS-a scheduled amount to be paid for an insurance policy. 
 
What are premiums used for ANS-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? ANS-the insurer collects premiums from all policy holders and uses them to pay out the c...
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Adjuster Pro - Insurance adjuster test latest 2024 already passed
- Exam (elaborations) • 15 pages • 2024
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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 ...
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Adjuster Pro - Florida Certified Adjuster Glossary 2023 Questions and Answers 100% verified
- Exam (elaborations) • 14 pages • 2023
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Adjuster Pro - Florida Certified 
Adjuster Glossary 2023 Questions and 
Answers 100% verified 
Accumulated Depreciation - CORRECT ANS 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 ANS 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 ANS One ...
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Glossary of Terms - Adjuster Pro Certification| 259 QUESTIONS And Answers WITH VERIFIED SOLUTIONS GRADED A+
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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) 
Adhesion Correct Answer: One of the characteristics of an insurance contract. Means that one 
party (the insurer) sets the ...
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Adjuster Pro - Florida Certified Adjuster Glossary Question and answer already passed 2023
- Exam (elaborations) • 20 pages • 2023
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Adjuster Pro - Florida Certified Adjuster Glossary Question and answer already passed 2023Accumulated 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 c...
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