Claim adjuster - Study guides, Class notes & Summaries

ADJUSTER PRO EXAM WITH REVISED ANSWERS (2023) Stu has a collection of rare comic books. He wants to purchase theft insurance for his collection, separate from his home and other property. What term most accurately describes the type of policy Stu would purchase? - CORRECT ANSWER-Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? - CORRECT ANSWER-It automatically covers wind and vandalism. Which of the following refers to being restored to the ...

TX ADJUSTER TESTSubrogate Subrogation is the right for an insurer to legally pursue a third party that caused an insurance loss to the insured. This is done as a means of recovering the amount of the claim paid by the insurance carrier to the insured for the loss. - correct answer While investigating a claim, you determine that the loss was caused by a defective mechanism in the dishwasher. You would attempt to_________________________? Appraisal - correct answer What is the process when an i...

In PA, a consumer reporting agency may list all of the following information about a consumer EXCEPT: - Medical Information The device that synchronizes the spark plug firing sequence is: - Camshaft Sensor If an insured fail to report a claim in a timely fashion the adjuster will usually: - Send the insured a reservation of rights letter When using a dedicated bench fixture to measure a unibody with front-end damage, where should fixtures be placed? - Fixtures should be placed in the damag...

Mississippi Insurance Test Questions and Answers 100% Pass The Commissioner of Insurance in Mississippi is elected to office for a term of 4 years The burden of proof for determining that a producer is representing an authorized insurer falls on The producer The fine the Commissioner may levy for violating any provision of the Insurance Code is $1000 A foreign insurer An insurer formed under the laws of any state other than Mississippi would be known as Each of the following...

The Commissioner of Insurance in Mississippi is elected to office for a term of - 4 years The burden of proof for determining that a producer is representing an authorized insurer falls on - The producer The fine the Commissioner may levy for violating any provision of the Insurance Code is - $1000 A foreign insurer - An insurer formed under the laws of any state other than Mississippi would be known as Each of the following is true about the Mississippi Residential Property Insurance Unde...

ae21 Insurance Adjuster License UPDATED Exam Questions and CORRECT Answers A Claim in the property industry is defined as - Ans An assertion of of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damage. What are you really, buying when you purchase insurance - Ans Peace of mind Why is insurance such a unique product - Ans It is a financial product, the purchase of a product based on trust.

Insurance - Transfer of risk from one person or organization to an insurance company Indemnity - The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance Binder - Temporary insurance contr...

SC Property, Casualty, Surety, Marine Exam Questions and Answers 100% Answered!!Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by...

NY Accident & Health Insurance Licensing Exam Study Guide (2024) || Questions & Answers (100% Correct) NY Accident & Health Insurance Licensing Exam Study Guide (2024) || Questions & Answers (100% Correct) Which section of an insurance policy contains language to assist an insurance company in managing morale and moral hazards - ANSWER - The exclusions The funds assessed to be deposited into the NY Special Disability Fund are deposited with? - ANSWER - The Commissioner of Taxation and Fin...

Florida 6-20 All Lines Adjuster Test Question and answers 2023 verified A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Interim Report C. Full Report D. None of the above A. Field Report States have adopted statutes regarding claims adjusting. To avoid u...