ADJUSTER PRO INSURANCE ADJUSTER TEST 2026 UPDATED
QUESTIONS AND ANSWERS LATEST SOLUTION REVIEW
Proximate cause
Unbroken chain of events between an occurrence and a loss -
then that occurrence is the proximate cause of the loss
Occurrence
An event, incident, or condition that causes damage
Occurrence as proximate cause
The original occurrence causes damage that leads to more
damage
Direct loss
Physical harm to tangible property
Indirect loss
,Economic loss that results from the direct or physical loss
Insurance claims
Demand for payment in accordance with terms of the policy
First party claims
Claim filed by a policy holder against his or her own insurance
policy
Third party claims
Claim filed against an insurance policy by a third party not
named on that policy
Acknowledgement
Insurer require by law to respond
Begin investigating all pertinent facts and issues
,Investigation
Finding the proximate cause of the loss
Examining all damages
Noting circumstances
Taking witness statements
Determining liability
Deciding wether claim is valid
Evaluation
Consider policy limit and deductibles
Calculating lender interest
Determining the value of the loss
Applying all financial provisions of the policy
Adjustment
If a claim is accepted, the insurer must pay promptly after
notifying that the claim will be paid
If claim is denied the insurer must explicitly state reasons for
denial
, Insurable Interest
Only parties with insurable interest can insure a property or
person
You can only insure something that has some financial interest
to you
Lender interest
A lenders financial stake in an insured item
Lender Interest Provisions
Allow the lender to be listed as a payee on the policy
Endure the lender is notified if the policy is canceled, reduced,
or expires
Provide compensation for the lender in the event of an act or
an omission by insurer party
Permit lender to pay premiums to maintain coverage
QUESTIONS AND ANSWERS LATEST SOLUTION REVIEW
Proximate cause
Unbroken chain of events between an occurrence and a loss -
then that occurrence is the proximate cause of the loss
Occurrence
An event, incident, or condition that causes damage
Occurrence as proximate cause
The original occurrence causes damage that leads to more
damage
Direct loss
Physical harm to tangible property
Indirect loss
,Economic loss that results from the direct or physical loss
Insurance claims
Demand for payment in accordance with terms of the policy
First party claims
Claim filed by a policy holder against his or her own insurance
policy
Third party claims
Claim filed against an insurance policy by a third party not
named on that policy
Acknowledgement
Insurer require by law to respond
Begin investigating all pertinent facts and issues
,Investigation
Finding the proximate cause of the loss
Examining all damages
Noting circumstances
Taking witness statements
Determining liability
Deciding wether claim is valid
Evaluation
Consider policy limit and deductibles
Calculating lender interest
Determining the value of the loss
Applying all financial provisions of the policy
Adjustment
If a claim is accepted, the insurer must pay promptly after
notifying that the claim will be paid
If claim is denied the insurer must explicitly state reasons for
denial
, Insurable Interest
Only parties with insurable interest can insure a property or
person
You can only insure something that has some financial interest
to you
Lender interest
A lenders financial stake in an insured item
Lender Interest Provisions
Allow the lender to be listed as a payee on the policy
Endure the lender is notified if the policy is canceled, reduced,
or expires
Provide compensation for the lender in the event of an act or
an omission by insurer party
Permit lender to pay premiums to maintain coverage
