Adjuster pro terms - Study guides, Class notes & Summaries

Indiana Adjuster Pro Licensing Exam- With 100% Correct Elaborations Indiana Adjuster Pro Licensing Exam- With 100% Correct Elaborations insurance - ANSWER - transfer of risk insurance - ANSWER - transfer of risk Accident Insurance - ANSWER - Covers expenses associated with a covered accident and can extend to ambulance and emergency room expenses, intensive care, and hospital costs. Accident insurance also provides for loss of income, and a death benefit if injuries prove fatal. Acc...

Principal of Indemnity insured's property should be restored to it's previous state, no better no worse, insured cannot profit from the loss indemnification compensation for loss Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More legal contracts must have: agreement, consideration, competent parties, legal purpose 6 special characteristics of insurance contracts personal adhesion utmost good ...

Adjuster Pro - Insurance adjuster test Questions And Answers What is insurance? - ANS protection against financial loss what is a premium - ANS a scheduled amount to be paid for an insurance policy. What are premiums used for - ANS premiums are collected into a "pool" or "reserve to pay out claimants when needed. how can insurance companies afford to pay for an individual's catastrophic loss? - ANS the insurer collects premiums from all policyholders and uses them to...

Adjuster Pro - Insurance adjuster test| 154QUESTIONS(WELL ANSWERED)| 13 PAGES What is insurance? Correct Answer:protection against financial loss what is a premium Correct Answer:a scheduled amount to be paid for an insurance policy. What are premiums used for Correct Answer:premiums are collected into a "pool" or "reserveto pay out claimants when needed. how can insurance companies afford to pay for an individuals catastrophic loss? Correct Answer:the insurer collects premiums from all p...

ADJUSTER PRO FLORIDA CERTIFIED ADJUSTER GLOSSARY 2023-2024 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 ...

Adjuster Pro - Insurance adjuster test| 154 QUESTIONS(WELL ANSWERED)| What is insurance? ANS-protection against financial loss what is a premium ANS-a scheduled amount to be paid for an insurance policy. What are premiums used for 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? ANS-the insurer collects premiums from all policy holders and uses them to pay out the c...

Adjuster Pro - Insurance adjuster test latest 2024 already passed What is insurance? - Answer ️️ -protection against financial loss what is a premium - Answer ️️ -a scheduled amount to be paid for an insurance policy. What are premiums used for - Answer ️️ -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? - Answer ️️ - the insurer collects premiums from all ...

Adjuster Pro - Florida Certified Adjuster Glossary 2023 Questions and Answers 100% verified 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 ...

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 ...

Adjuster Pro - Florida Certified Adjuster Glossary Question and answer already passed 2023Accumulated Depreciation 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) 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 One of the characteristics of an insurance c...