Super-Duper Texas Adjuster License Test Review
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Terms in this set (309)
Insurance History and Regulation: Coverage by contract whereby one party
Insurance undertakes to indemnity (hold harmless) or
guarantee another against loss by a specified
contingency or peril.
Insurance History and Regulation: An organization whose purpose is to organize
NAIC the regulatory and supervisory efforts of the
various state insurance commissioners from
around the United States.
Protection of Consumer Interests: Regulates the consumer interest in regard to
The Texas Department of Insurance insurance.
(TDI)
Protection of Consumer Interests: Insurance Commissioner
Head of the Texas Department of
Insurance
Protection of Consumer Interests: was set up by the State of Texas to establish
Chapter 541 -Unfair and Deceptive certain practices which constitute unfair and/or
Insurance Practices deceptive insurance acts.
, Protection of Consumer Interests: within 15 days 1) acknowledge receipt of a claim
Texas Insurance Code requires 2) begin investigation 3) request items from the
what within how many days of claimant.
receipt of a claim that the insurer?
Insurance: What is the purpose of to provide a way to spread risk over a large
insurance? group of people
Insurance: Principle of Indemnity IS AN INSURANCE PRINCIPLE STATING THAT
AN INSURED MAY NOT BE COMPENSATED BY
INSURANCE COMPANY IN AN AMOUNT
EXCEEDING THE INSURED'S ECONOMIC LOSS.
It is a principle that returns the insured to their
previous financial condition.
Insurance: What are the two 1) to prevent the insured from profiting from a
purposes of indemnity? loss 2) to reduce moral hazard
Insurance: what is risk? (1) the potential for a financial loss or the
statistical chance of danger from exposure to a
hazard or peril (2) the uncertainty about loss that
exists whenever more than one outcome is
possible
Insurance: Proximate Cause is the first event in an uninterrupted chain of
events that leads to a loss
Insurance: What are the 2 types of Speculative: affords the opportunity for gain as
risk? well as the possibility of loss
Pure: a risk where there is the potential of real
loss due to exposure to a peril
Insurance: example of risk to avoid risks associated with swimming pools,
avoidance don't buy a home with a pool.
3000! EXAM 2026 UPDATE Verified Questions
And Answers | Guaranteed Success!!
Save
Terms in this set (309)
Insurance History and Regulation: Coverage by contract whereby one party
Insurance undertakes to indemnity (hold harmless) or
guarantee another against loss by a specified
contingency or peril.
Insurance History and Regulation: An organization whose purpose is to organize
NAIC the regulatory and supervisory efforts of the
various state insurance commissioners from
around the United States.
Protection of Consumer Interests: Regulates the consumer interest in regard to
The Texas Department of Insurance insurance.
(TDI)
Protection of Consumer Interests: Insurance Commissioner
Head of the Texas Department of
Insurance
Protection of Consumer Interests: was set up by the State of Texas to establish
Chapter 541 -Unfair and Deceptive certain practices which constitute unfair and/or
Insurance Practices deceptive insurance acts.
, Protection of Consumer Interests: within 15 days 1) acknowledge receipt of a claim
Texas Insurance Code requires 2) begin investigation 3) request items from the
what within how many days of claimant.
receipt of a claim that the insurer?
Insurance: What is the purpose of to provide a way to spread risk over a large
insurance? group of people
Insurance: Principle of Indemnity IS AN INSURANCE PRINCIPLE STATING THAT
AN INSURED MAY NOT BE COMPENSATED BY
INSURANCE COMPANY IN AN AMOUNT
EXCEEDING THE INSURED'S ECONOMIC LOSS.
It is a principle that returns the insured to their
previous financial condition.
Insurance: What are the two 1) to prevent the insured from profiting from a
purposes of indemnity? loss 2) to reduce moral hazard
Insurance: what is risk? (1) the potential for a financial loss or the
statistical chance of danger from exposure to a
hazard or peril (2) the uncertainty about loss that
exists whenever more than one outcome is
possible
Insurance: Proximate Cause is the first event in an uninterrupted chain of
events that leads to a loss
Insurance: What are the 2 types of Speculative: affords the opportunity for gain as
risk? well as the possibility of loss
Pure: a risk where there is the potential of real
loss due to exposure to a peril
Insurance: example of risk to avoid risks associated with swimming pools,
avoidance don't buy a home with a pool.
