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When the insurer invokes the coinsurance penalty, Jim is then responsible for a third of the damages, which in this case totaled $45,000. So, Jim must pay $15,000. In the context of insurance adjusting, who is the principal? - answerThe source of the adjuster's authority What document do ins...

Adjuster Pro Exam Prep Questions With Correct Answers Common law is based upon - answercourt decisions and customs. cause of loss or damage - answerperil 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 J...

Adjuster Pro Texas Exam Questions With Correct Answers All of the following pieces of information can be found in the conditions section of an insurance policy EXCEPT: - answerCauses of loss that are not covered Which of the following best defines the principle of indemnity? - answerAfter a loss...

Adjuster Pro Oklahoma Practice Exam Questions With Correct Answers The source of the adjusters authority - answerIn the context of insurance adjusting, who is the principal? Coverage is not negotiable - answerWhen Nancy is pulling into her driveway, she accidentally hit the gas and plowed throu...

©THEBRIGHT EXAM SOLUTIONS 10/30/2024 10:31 PM Adjusterpro: Chapter 1 All Sections Insurance - answerfinancial tool that protects individuals and organizations from unforeseen and extraordinary financial losses by transferring risk to another party insured - answerindividual or organization tha...

Adjuster Pro 1A – B Study Guide. Agreement - answerOne of the 4 requirements of a legally binding contract. All parties involved must agree to the terms of the contract. Can also refer to a binder, which is the preliminary substance of a contract. aleatory - answerA characteristic of an insura...