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ADJUSTER PRO EXAM AND PRACTICE EXAM ACTUAL EXAM 150 QUESTIONS AND CORRECT ANSWERS|AREADY GRADED A+|BRAND NEW!!

What is a reserve, in insurance terms? - Answer A pool of collected premiums that the insurer sets aside to pay claims Which of these scenarios is NOT an example of indemnification? - Answer When trying to renew her dog's license, Ellen has to pay a penalty to the city for letting its rabies vaccination lapse. Ellen having to pay a fine is not an example of indemnification. Indemnification means being restored to the financial condition you were in before a loss. In three of these sit...

Subrogate 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. While investigating a claim, you determine that the loss was caused by a defective mechanism in the dishwasher. You would attempt to_________________________? Appraisal What is the process when an insurer and an insured have a dispute regardi...

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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? Monoline Policy Which of the following statements does NOT apply to the Standard Fire Policy? It automatically covers wind and vandalism. Brainpower Read More Which of the following refers to being restored to the financial condition you were in before a loss?...