Company adjuster - Study guides, Class notes & Summaries

NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55 actual exam Process 2103 (d-i) - CORRECT ANSWER-1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this section and every proposed sublicensee must be 18 years of age or older at the time of issuance of such licens...

Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by insurers to reflect an item's current market value right before being damaged or...

COMPREHESIVE; TEST BANK| ALL NEW YORK ADJUSTER (NY ADJUSTER) QUESTIONS ALL WITH CORRECT ANSWERS 2023-2024|GUARANTEE PASS Table of Contents New York Adjuster Exam Questions with 100% correct Answers 2023 2 New York Adjuster Exam 2 Questions and Answers Graded A+ 2023 24 New York Adjuster Exam 3 (+100 Questions and Answers 2023 34 New York Adjuster Questions and Answers 2023 45 NEW YORK insurance pretest (Adjusters) Questions and Correct Answers 47 New York Adjuster 1 Questions and Answers ...

Which of the following statements is not correct regarding qualifications for an adjuster's license? - An attorney who adjusts losses from time to time is considered an adjuster. An unauthorized insurance company may also be referred to as a - Surplus lines insurer Which of the following statements is not correct regarding surplus lines insurance? - The surplus lines insurance must be procured at a rate that is lower than the prevailing rate for the same type of coverage A surplus lines b...

TX ADJUSTER TESTSubrogate 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. - correct answer While investigating a claim, you determine that the loss was caused by a defective mechanism in the dishwasher. You would attempt to_________________________? Appraisal - correct answer What is the process when an i...

NC ADJUSTER LICENSE PRACTICE EXAM 2024/2025 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED Manny is purchasing a Commercial Property policy with a Business Income form included. Manny can select from any of the following as a method to provide coverage, while avoiding the coinsurance requirement, EXCEPT: - CORRECT ANSWER The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - CORRECT ANSWER Replacement cost min...

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 insurance Binder - Temporary insurance contr...

ae21 Insurance Adjuster License UPDATED Exam Questions and CORRECT Answers A Claim in the property industry is defined as - Ans An assertion of of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damage. What are you really, buying when you purchase insurance - Ans Peace of mind Why is insurance such a unique product - Ans It is a financial product, the purchase of a product based on trust.

SC Property, Casualty, Surety, Marine Exam Questions and Answers 100% Answered!!Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by...

The Commissioner of Insurance in Mississippi is elected to office for a term of - 4 years The burden of proof for determining that a producer is representing an authorized insurer falls on - The producer The fine the Commissioner may levy for violating any provision of the Insurance Code is - $1000 A foreign insurer - An insurer formed under the laws of any state other than Mississippi would be known as Each of the following is true about the Mississippi Residential Property Insurance Unde...