CHAPTER 1 Alabama P&C, WC, & Crop Adjuster Pre-Licensing
Test Exam with questions and answers 100%Correctly verified
answers latest update 2024/2025 RATED A+
Insurance - CORRECT ANSWERS Financial tool that
protects individuals and organizations from unforeseen and
extraordinary financial losses by A
A pool of collected premiums that insurer sets aside to pay
claims - CORRECT ANSWERS What is a reserve in terms
of insurance?
Repairs to property
Reimbursement for additional living expenses
Rental cars, hotels
Costs directly associated with a loss, as allowed under the
policy - CORRECT ANSWERS Indemnification may include
payment for :
Agreement
Consideration
Competent Parties
, CHAPTER 1 Alabama P&C, WC, & Crop Adjuster Pre-Licensing
Test Exam with questions and answers 100%Correctly verified
answers latest update 2024/2025 RATED A+
Legal Purpose - CORRECT ANSWERS 4 Qualifications of a
contract:
Personal
Adhesion
Utmost good faith
Aleatory
Unilateral
Condition - CORRECT ANSWERS 6 Characteristics of
Insurance Contracts
Personal Contract - CORRECT ANSWERS What
characteristic contract protects the policyholder from
financial losses, covers the person not the property,
Contract of Adhesion - CORRECT ANSWERS The insurer
is responsible for the wording of the contract
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