Mile High Adjusters - Texas All Lines
Adjuster License Study Guide latest
Updated
Staff Adjuster - ANS-Adjusters who work exclusively for an insurance company
Independent adjuster - ANS-An individual who is employed as an independent
contractor to an adjusting / staffing company and handles claims for an insurance
company
Public adjuster - ANS-Adjusters that represent the insured by negotiating claims with
the insurance company.
Insurer - ANS-Any insurance company or self-insured. An organization or entity that
facilitates the pooling of funds and the payment of benefits (second party).
Insured - ANS-A person or organization covered by an insurance policy. (first party)
Claimant - ANS-A person or organization making a claim against an insured. (third-
party)
Commissioner - ANS-A State officer who administers insurance laws and regulations.
TDI - ANS-Texas Department of Insurance
Licensee - ANS-An individual holding a license under the authority of the Texas
Insurance codes.
Provider - ANS-An individual or organization including a corporation, partnership,
depository institution, insurance company, or entity chartered by the Farm Credit
Administration as defined in the insurance code, registered with the Department to offer
continuing education courses for licenses and/or pre-licensing instruction for Adjusters.
Texas department of insurance license number - ANS-an identification number that the
department assigns to the licensee located on the adjuster's license certificate
How many questions are on the all lines adjuster test and how long do students have to
take it? - ANS-150 questions and 180 minutes
What does DTPA stand for? - ANS-Deceptive Trade Practices Act
, Negligence - ANS-failure to use the care that a reasonable and prudent person would
have used under the same or similar circumstances. (unintentional tort)
Intentional torts - ANS-Acts committed without negligence but resulting in damages
Strict liability - ANS-also referred to as absolute liability, meaning not dependent on
negligence or intent to harm, but based on the theory of the duty of making something
safe that is inherently dangerous.
Name the five parts of a typical homeowner's policy - Coverages A-E - ANS-A, main
dwelling.
B, other structures.
C, personal property or contents.
D, loss of use (ALE).
E, other coverages which would include endorsements.
Replacement cost (RC or RCV) - ANS-This is what the insured would pay to rebuild or
repair the home based on current construction cost. this is different from market value
and does not include the value of the land.62
Actual cash value (ACV) - ANS-This is the replacement cost of a property minus
depreciation from age or condition
These are available if the insured wants more coverage than a policy provides for
certain items. Some of the most common of these expand or increase coverage for
jewelry, Fine Arts, camera equipment, coin or stamp collections, computer equipment,
radio and television satellite dishes as well as antennas. - ANS-Endorsements
How long does the insured have to provide an itemized list of the household items lost
or damaged and the cost of repairing them after reporting a loss? - ANS-60 days
If the house has a mortgage on it, who is the check made out to for a claim? - ANS-
Checks are made payable to the insured and the lienholder
Repairs must be completed in ______ days (& contractor's bill received) in order for the
2nd check for the recoverable depreciation to be sent? - ANS-365
An insured or claimant may submit a written request for an additional _____ days for the
completion of repairs (to receive a 2nd check for the recoverable depreciation)? - ANS-
180
abandonment - ANS-the relinquishing ownership of damaged property to the insurance
company on a partial loss
Adjuster License Study Guide latest
Updated
Staff Adjuster - ANS-Adjusters who work exclusively for an insurance company
Independent adjuster - ANS-An individual who is employed as an independent
contractor to an adjusting / staffing company and handles claims for an insurance
company
Public adjuster - ANS-Adjusters that represent the insured by negotiating claims with
the insurance company.
Insurer - ANS-Any insurance company or self-insured. An organization or entity that
facilitates the pooling of funds and the payment of benefits (second party).
Insured - ANS-A person or organization covered by an insurance policy. (first party)
Claimant - ANS-A person or organization making a claim against an insured. (third-
party)
Commissioner - ANS-A State officer who administers insurance laws and regulations.
TDI - ANS-Texas Department of Insurance
Licensee - ANS-An individual holding a license under the authority of the Texas
Insurance codes.
Provider - ANS-An individual or organization including a corporation, partnership,
depository institution, insurance company, or entity chartered by the Farm Credit
Administration as defined in the insurance code, registered with the Department to offer
continuing education courses for licenses and/or pre-licensing instruction for Adjusters.
Texas department of insurance license number - ANS-an identification number that the
department assigns to the licensee located on the adjuster's license certificate
How many questions are on the all lines adjuster test and how long do students have to
take it? - ANS-150 questions and 180 minutes
What does DTPA stand for? - ANS-Deceptive Trade Practices Act
, Negligence - ANS-failure to use the care that a reasonable and prudent person would
have used under the same or similar circumstances. (unintentional tort)
Intentional torts - ANS-Acts committed without negligence but resulting in damages
Strict liability - ANS-also referred to as absolute liability, meaning not dependent on
negligence or intent to harm, but based on the theory of the duty of making something
safe that is inherently dangerous.
Name the five parts of a typical homeowner's policy - Coverages A-E - ANS-A, main
dwelling.
B, other structures.
C, personal property or contents.
D, loss of use (ALE).
E, other coverages which would include endorsements.
Replacement cost (RC or RCV) - ANS-This is what the insured would pay to rebuild or
repair the home based on current construction cost. this is different from market value
and does not include the value of the land.62
Actual cash value (ACV) - ANS-This is the replacement cost of a property minus
depreciation from age or condition
These are available if the insured wants more coverage than a policy provides for
certain items. Some of the most common of these expand or increase coverage for
jewelry, Fine Arts, camera equipment, coin or stamp collections, computer equipment,
radio and television satellite dishes as well as antennas. - ANS-Endorsements
How long does the insured have to provide an itemized list of the household items lost
or damaged and the cost of repairing them after reporting a loss? - ANS-60 days
If the house has a mortgage on it, who is the check made out to for a claim? - ANS-
Checks are made payable to the insured and the lienholder
Repairs must be completed in ______ days (& contractor's bill received) in order for the
2nd check for the recoverable depreciation to be sent? - ANS-365
An insured or claimant may submit a written request for an additional _____ days for the
completion of repairs (to receive a 2nd check for the recoverable depreciation)? - ANS-
180
abandonment - ANS-the relinquishing ownership of damaged property to the insurance
company on a partial loss
