Texas adjuster pro test - Study guides, Class notes & Summaries

ADJUSTER PRO PRACTICE EXAM TEST DUE ON 2023-2024 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 H...

USAA Licensing Exam 2023 Passed 100% 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...

ADJUSTER PRO PRACTICE EXAM TEST DUE ON 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 syste...

Insurance Adjuster Test 2023 Pro Exam Lloyds of London was most known for insuring what product? - CORRECT ANSWERTobacco Shipments How did the Chinese families use the concept of pooling to protect their crops? - CORRECT ANSWER-Divided shipments to multiple ships The chinese were credited with being the first to create the concept of insurance. The main method used was to ship their goods on multiple ships instead of on one single vessel. What concept of insurance does this demonstrate?...