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John is doing some lawn maintenance using a steel blade on his weed-whacker. He fails to properly tighten the blade and it comes loose while he is trimming some tall grass at the edge of his property. The blade flies off towards his neighbor's house and crashes into the HVAC unit, severing the lines and effectively destroying the unit. Which coverage in John's homeowners policy might pay for the damage he caused to his neighbor's HVAC system? A. Coverage E - Personal Liability B. Coverage...

Adjuster Pro - Insurance adjuster test 2023 100% Correctly Answered What is insurance? - CORRECT ANS protection against financial loss what is a premium - CORRECT ANS a scheduled amount to be paid for an insurance policy. What are premiums used for - CORRECT 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? - CORRECT ANS the insurer collects premiums from all policy ...

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 of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, a...

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 of the characteristics of an insurance contract. Means that one party (the insurer) sets the ...

Adjuster Pro - Insurance adjuster test Latest 2023/2024[100% correct answers & explanations]

Adjuster Pro - Insurance Adjuster Florida Test 2023 Questions and Answers (Verified Answers)

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 financial ...

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 financial ...

ADJUSTER PRO EXAM WITH REVISED ANSWERS (2023)

John is doing some lawn maintenance using a steel blade on his weed-whacker. He fails to properly tighten the blade and it comes loose while he is trimming some tall grass at the edge of his property. The blade flies off towards his neighbor's house and crashes into the HVAC unit, severing the lines and effectively destroying the unit. Which coverage in John's homeowners policy might pay for the damage he caused to his neighbor's HVAC system? A. Coverage E - Personal Liability B. Coverage...