3 types of adjusters - Study guides, Class notes & Summaries

Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public - Correct Answer -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 Re...

Louisiana Insurance Adjuster Verified Answers 3 Degrees of Liability ️1.)Full Liability - The insured party is 100% at fault for damages to a third party. 2.)Partial Liability - the insured party is only partially at fault or shares fault with a third party. 3.)No Liability - the insured party has 0% or no liability in the damage to a third party. 3 Major Responsibilities of Contracted Agents ️1.) Adhere to of follow the contract 2.) Use reasonable judgement and care 3.) Provide ...

Florida Public Adjuster State Test |Graded A+| 2 Types of Tort Liability *Ans*1.Negligent Liability(Unintentional) 2.Strict Liability(Intentional) 3 Basic Claims Handling activities? *Ans*1. Investigate 2.Evaluate 3.Negotiate 3 Types of Adjusters *Ans*1.Staff Adjusters 2.Fee Adjusters A.Independent Adjusters B.Bureau Adjusters 3.Public Adjusters 4 Elements of a Valid Contract? *Ans*1.A manifestation of assent to its terms by parties who make the contract. 2.A suff...

Adjuster's License Test - Adjusting Losses Exam Questions and Answers A public adjuster Primarily represents the interests of: -Answer-The insured named in the policy Adjusters employed by State Farm, Allstate, and Travelers would be considered what type of adjusters -Answer-Company or Staff The CT insurance Dept. regulates activities of PAs by setting fourth specific rules in communicating settlement offers from the insurer of their clients. Accordingly, upon receipt of an offer to set...

Alabama adjuster exam pt 2 Exam Questions and Answers (verified answers) 739 Questions 2024/2025 RATED A+Define: Claimant - CORRECT ANSWERS A person or entity that requests indemnification for losses under the terms of an insurance policy Define: Adjuster - CORRECT ANSWERS Person who investigates, evaluates, and negotiates claims arising under insurance contracts Define: Adjusting - CORRECT ANSWERS The process of comparing a claimant's losses to the promises made in an insurance policy ...

3 Degrees of Liability - Answer-1.)Full Liability - The insured party is 100% at fault for damages to a third party. 2.)Partial Liability - the insured party is only partially at fault or shares fault with a third party. 3.)No Liability - the insured party has 0% or no liability in the damage to a third party. 3 Major Responsibilities of Contracted Agents - Answer-1.) Adhere to of follow the contract 2.) Use reasonable judgement and care 3.) Provide all necessary information and documentat...

The one who receives the authority to act on behalf of someone else? - Agent what does a sale's agent receive authority for? - to sell An insurance agent receives authority to what? - Settle claims brought against the insurer How do agents receive their authority? - written contract What is the power to bind? - an agent's authority can bind: -what an agent says or does can bind insurer -agents should take the utmost care in what they say or do -even if insure makes mistakes,...

Adjuster's License Test - Adjusting Losses Exam Questions and Answers A public adjuster Primarily represents the interests of: -Answer-The insured named in the policy Adjusters employed by State Farm, Allstate, and Travelers would be considered what type of adjusters -Answer-Company or Staff The CT insurance Dept. regulates activities of PAs by setting fourth specific rules in communicating settlement offers from the insurer of their clients. Accordingly, upon receipt of an offer to set...

Accumulated Depreciation - ANSWER-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) - ANSWER-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 - ANSWER-One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms, and the other ...

Certified Claims Adjuster- Florida Exam Practice Questions and Answers Repair, replacement and recovery of injured lives and damaged property falls to? - Ans:-Insurance Adjusters, CAT Troopers, Field Investigators, Property Appraisers and Front Line Supervisors Insurance Transaction includes: - Ans:--Solicitation of insurance -Negotiations; -Binding, underwriting and sale of insurance; -Handling or "adjusting" of claims The Role of Insurance is: - Ans:-- Essential Product -Financi...