Certified claims adjuster - Study guides, Class notes & Summaries

Accumulated Depreciation Correct 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) Correct 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 Correct Answer: One of the characteristics of an insurance contract. Means that one party (the insurer) sets the terms,...

Certified Claims Adjuster Exam Questions and Answers

AIC 300 - Claims in an Evolving World Questions and Answers Already Passed Insurers usually send denial letters Select one: A. By email to ensure prompt receipt by the insured. B. By certified mail with a return receipt requested. C. By overnight courier. D. By registered mail. B. By certified mail with a return receipt requested. Some will also send a copy via regular mail in case the certified letter is not accepted. As methods of communication evolve, it's important for claims...

Adjuster Pro - Florida Certified Adjuster Glossary Questions with 100% Verified Correct Answers 2024/2025 Accumulated Depreciation - Correct 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) - Correct 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 - Co...

Certified Claims Adjuster

STATE FARM CERTIFICATION - CLAIMS ADJUSTER CERTIFIED COMPLETE TEST GUIDE Special Limits of Liability for 1. money - ANS $200 for money or coins whats covered under dwelling - ANS tures attached to dwelling ials/supplies on or adjacent to residence premises for construction use or alteration of the premises. ation, footings, floor slabs supporting dwelling -wall to wall carpeting other structures separated by clear space are.... such as - ANS covered. Structures connected to the...

AIC 300 Claims in an Evolving World Questions and Answers Solved 100%Correct!! 1. Insurers usually send denial letters Select one: A. By email to ensure prompt receipt by the insured. B. By certified mail with a return receipt requested. C. By overnight courier. D. By registered mail.: B. By certified mail with a return receipt requested. Some will also send a copy via regular mail in case the certified letter is not accepted. 2. As methods of communication evolve, it's important for c...

AIC 300 Claims in an Evolving World Test Questions with Correct Answers Insurers usually send denial letters Select one: A. By email to ensure prompt receipt by the insured. B. By certified mail with a return receipt requested. C. By overnight courier. D. By registered mail. - Answer-B. By certified mail with a return receipt requested. Some will also send a copy via regular mail in case the certified letter is not accepted. As methods of communication evolve, it's important for ...

Although most policies are occurrence forms, covering claims that occur during the policy period, some are claims-made forms. Which one of the following types of loss is most likely to involve a claims-made form? Select one: A. An automotive collision claim. B. A homeowners liability claim due to a slip and fall. C. A homeowners claim due to storm damage. D. A medical malpractice claim. - D. A medical malpractice claim. Claims-made forms are most often used for environmental, medical mal...

Certified Claims Adjuster Exam Questions and Answers