Exam (elaborations)
Texas All-Lines Adjuster Pre-Licensing LATEST ACTUAL EXAM QUESTIONS AND CORRECT
- Course
- Institution
Texas All-Lines Adjuster Pre-Licensing LATEST ACTUAL EXAM QUESTIONS AND CORRECT
[Show more]
Content preview
Texas All-Lines Adjuster Pre-LicensingLATEST ACTUAL EXAM QUESTIONS AND
CORRECT ANSWERS
Chapter ,.1 ,.- ,.correct ,.answers ,.✔✔ ,.-
insurance ,.- ,.correct ,.answers ,.✔✔ ,.-
financial ,.took ,.that ,.protects ,.individual ,.and ,.organizations ,.from ,.unforeseen ,.and ,.extraordinary ,.financi
al ,.losses ,.by ,.transferring ,.risk ,.to ,.another ,.party
insured ,.- ,.correct ,.answers ,.✔✔ ,.-
individual ,.or ,.organization ,.that ,.pays ,.premiums ,.in ,.exchange ,.for ,.protection
insurer ,.- ,.correct ,.answers ,.✔✔ ,.-
company, ,.group, ,.or ,.government ,.agency ,.offering ,.financial ,.protection
how ,.does ,.insurance ,.work? ,.- ,.correct ,.answers ,.✔✔ ,.-insured ,.pays ,.premium
insurer ,.promises ,.to ,.pay ,.for ,.specific ,.losses ,.if ,.they ,.occur
insurer's ,.promise ,.gives ,.peace ,.of ,.mind ,.to ,.insured
principle ,.of ,.indemnity ,.- ,.correct ,.answers ,.✔✔ ,.-
when ,.a ,.loss ,.occurs, ,.an ,.individual ,.should ,.be ,.restored ,.to ,.the ,.approximate ,.financial ,.condition ,.he ,.w
as ,.in ,.before ,.the ,.loss, ,.no ,.more ,.and ,.no ,.less
Q1: ,.How ,.can ,.insurance ,.companies ,.afford ,.to ,.pay ,.for ,.an ,.individual's ,.catastrophic ,.loss? ,.- ,.correct ,.an
swers ,.✔✔ ,.-
Q1: ,.The ,.purpose ,.of ,.the ,.principle ,.of ,.indemnity: ,.- ,.correct ,.answers ,.✔✔ ,.-
prevents ,.an ,.insured ,.from ,.profiting ,.from ,.a ,.loss
,Q1: ,.Which ,.of ,.the ,.following ,.best ,.defines ,.premium? ,.- ,.correct ,.answers ,.✔✔ ,.-
the ,.fee ,.paid ,.by ,.the ,.insured ,.in ,.exchange ,.for ,.the ,.insurance ,.policy
Q1: ,.What ,.best ,.describes ,.insurance? ,.- ,.correct ,.answers ,.✔✔ ,.-
an ,.economic ,.device ,.used ,.to ,.protect ,.against ,.the ,.risk ,.of ,.unforeseen ,.and ,.extraordinary ,.financial ,.los
s
Q1: ,.Mark ,.incurred ,.$8000 ,.damage ,.to ,.his ,.car ,.in ,.an ,.accident. ,.He ,.received ,.
$8000 ,.from ,.his ,.insurance ,.company ,.and ,.
$4000 ,.from ,.the ,.other ,.driver. ,.By ,.receiving ,.profit ,.from ,.his ,.loss, ,.Mark ,.could ,.be ,.in ,.violation ,.of: ,.- ,.c
orrect ,.answers ,.✔✔ ,.-the ,.principle ,.of ,.indemnity
he ,.should ,.be ,.in ,.the ,.same ,.financial ,.condition. ,.no ,.better, ,.no ,.worse
indemnification ,.may ,.include ,.payment ,.for: ,.- ,.correct ,.answers ,.✔✔ ,.-repairs ,.to ,.property
reimbursement ,.for ,.additional ,.living ,.expenses
rental ,.cars, ,.hotels
costs ,.directly ,.associated ,.with ,.a ,.loss, ,.as ,.allowed ,.under ,.the ,.policy
legal ,.contract/insurance ,.policy ,.is: ,.- ,.correct ,.answers ,.✔✔ ,.-
contract ,.to ,.provide ,.financial ,.protection ,.for ,.a ,.fee
legally ,.binding ,.because ,.it ,.meets ,.the ,.4 ,.requirements ,.of ,.a ,.legal ,.contract
What ,.are ,.the ,.4 ,.requirements ,.of ,.a ,.legal ,.contract? ,.- ,.correct ,.answers ,.✔✔ ,.-agreement ,.
(offer ,.and ,.acceptance)
consideration
competent ,.parties ,.
,legal ,.purpose
agreement ,.- ,.correct ,.answers ,.✔✔ ,.-mutual ,.consent ,.between ,.offeror ,.and ,.offeree
acceptance ,.criteria ,.- ,.correct ,.answers ,.✔✔ ,.-
offeree ,.communicates ,.to ,.the ,.offeror ,.his ,.intent ,.to ,.enter ,.into ,.contract
must ,.be ,.unconditional ,.- ,.the ,.offeree ,.accepts ,.the ,.terms ,.proposed ,.by ,.the ,.offeror
original ,.offeree ,.is ,.the ,.only ,.person ,.who ,.can ,.legally ,.accept ,.the ,.offer
An ,.offer ,.may ,.be ,.terminated ,.by: ,.- ,.correct ,.answers ,.✔✔ ,.-revocation ,.by ,.offeror
rejection ,.by ,.offeree
time ,.lapse
termination ,.by ,.operation ,.of ,.law
-either ,.party ,.dies ,.or ,.becomes ,.disabled
,.
-performance ,.of ,.contract ,.becomes ,.illegal ,.after ,.the ,.offer
,.
-subject ,.matter ,.is ,.destroyed
,.
offer ,.rejection ,.- ,.correct ,.answers ,.✔✔ ,.-explicit ,.rejection
proposal ,.of ,.new ,.offer
counteroffer
consideration ,.- ,.correct ,.answers ,.✔✔ ,.-all ,.parties ,.bring ,.something ,.of ,.value
competent ,.parties ,.- ,.correct ,.answers ,.✔✔ ,.-18 ,.years ,.old, ,.sober, ,.and ,.sane
legal ,.purpose ,.- ,.correct ,.answers ,.✔✔ ,.-no ,.contracts ,.for ,.money ,.laundering
, Q2: ,.An ,.offeree ,.may ,.legally ,.reject ,.a ,.contract ,.offer ,.by ,.any ,.of ,.the ,.following ,.means ,.EXCEPT: ,.- ,.corre
ct ,.answers ,.✔✔ ,.-asking ,.for ,.clarification ,.or ,.additional ,.information
Q2: ,.If ,.covered ,.by ,.an ,.insurance ,.policy, ,.an ,.insured ,.may ,.be ,.indemnified ,.for ,.all ,.of ,.the ,.following ,.exc
ept: ,.- ,.correct ,.answers ,.✔✔ ,.-home ,.remodels
Q2: ,.Which ,.of ,.the ,.following ,.is ,.NOT ,.a ,.requirement ,.for ,.a ,.legally ,.binding ,.contract? ,.- ,.correct ,.answer
s ,.✔✔ ,.-it ,.must ,.be ,.a ,.notarized ,.document
Q2: ,.Which ,.of ,.the ,.following ,.refers ,.to ,.being ,.restored ,.to ,.the ,.financial ,.condition ,.you ,.were ,.in ,.before
,.a ,.loss? ,.- ,.correct ,.answers ,.✔✔ ,.-indemnification
Q2: ,.A ,.legally ,.binding ,.contract ,.is ,.where ,.the ,.risk ,.of ,.financial ,.loss ,.is ,.transferred ,.in ,.exchange ,.for ,.pr
emiums ,.is ,.called: ,.- ,.correct ,.answers ,.✔✔ ,.-an ,.insurance ,.policy
1-A: ,.The ,.purpose ,.of ,.the ,.principle ,.of ,.indemnity ,.is: ,.- ,.correct ,.answers ,.✔✔ ,.-
to ,.prevent ,.and ,.insured ,.from ,.making ,.a ,.profit ,.on ,.a ,.loss
1-A: ,.Which ,.of ,.the ,.following ,.best ,.defines ,.premium? ,.- ,.correct ,.answers ,.✔✔ ,.-
the ,.fee ,.paid ,.by ,.the ,.insured ,.in ,.exchange ,.for ,.an ,.insurance ,.policy
1-A: ,.What ,.is ,.a ,.reserve, ,.in ,.insurance ,.terms? ,.- ,.correct ,.answers ,.✔✔ ,.-
a ,.pool ,.of ,.collected ,.premiums ,.that ,.the ,.insurer ,.sets ,.aside ,.to ,.pay ,.claims
1-
A: ,.Which ,.of ,.the ,.following ,.refers ,.to ,.being ,.restored ,.to ,.the ,.financial ,.condition ,.you ,.were ,.in ,.before ,.
a ,.loss? ,.- ,.correct ,.answers ,.✔✔ ,.-indemnification
six ,.special ,.characteristics ,.of ,.insurance ,.contracts ,.- ,.correct ,.answers ,.✔✔ ,.-personal
adhesion
utmost ,.good ,.faith
aleatory
unilateral ,.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller QUIVERS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
