Texas All Lines Adjuster Test LATEST ACTUAL EXAM
QUESTIONS AND CORRECT ANSWERS (VERIFIED
ANSWERS)
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)
Acreage ,.Reporting ,.Date ,.- ,.(correct ,.answer) ,.-
The ,.deadline ,.for ,.providing ,.the ,.insurer ,.with ,.an ,.acreage ,.report, ,.which ,.is ,.used ,.to ,.determine ,.the ,.a
mount ,.of ,.coverage ,.needed ,.and ,.the ,.premium ,.charged ,.for ,.a ,.particular ,.crop.
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)
Actual ,.Production ,.History ,.- ,.(correct ,.answer) ,.-A ,.history ,.of ,.a ,.farmer's ,.crop ,.yields ,.over ,.a ,.multi-
year ,.period, ,.which ,.is ,.used ,.to ,.determine ,.the ,.normal ,.production ,.level ,.of ,.a ,.farm.
Adhesion ,.- ,.(correct ,.answer) ,.-Characteristic ,.of ,.an ,.insurance ,.contract. ,.Means ,.that ,.one ,.party ,.
(the ,.insurer) ,.sets ,.the ,.terms, ,.and ,.the ,.other ,.(the ,.policyholder) ,.can ,."take ,.it ,.or ,.leave ,.it."
Adjusted ,.Gross ,.Revenue ,.(Crop ,.Insurance) ,.- ,.(correct ,.answer) ,.-Narrowest ,.
(and ,.least ,.expensive) ,.form ,.of ,.Crop ,.Revenue ,.Insurance. ,.Insures ,.farm ,.revenue ,.as ,.a ,.whole ,.instead ,.
of ,.individual ,.crops. ,.Guarantees ,.a ,.percentage ,.of ,.the ,.insured ,.farm's ,.average ,.revenue.
Adjuster ,.- ,.(correct ,.answer) ,.-
An ,.agent ,.who, ,.for ,.compensation, ,.processes ,.insurance ,.claims. ,.Can ,.represent ,.either ,.the ,.insured ,.or
,.the ,.insurer.
Adjuster ,.- ,.Emergency ,.- ,.(correct ,.answer) ,.-
Adjusters ,.who ,.are ,.temporarily ,.licensed ,.by ,.the ,.insurance ,.commissioner ,.to ,.handle ,.claims ,.during ,.ca
tastrophes ,.or ,.emergencies ,.that ,.produce ,.an ,.overwhelming ,.number ,.of ,.claims ,.in ,.a ,.short ,.period ,.of ,.
time.
,Adjuster ,.- ,.Independent ,.- ,.(correct ,.answer) ,.-Self-
employed ,.adjusters ,.who ,.contract ,.with ,.multiple ,.insurers ,.at ,.the ,.same ,.time. ,.Paid ,.on ,.a ,.commission ,
.or ,.fee-plus-expenses ,.basis ,.for ,.each ,.claim. ,.Also ,.called: ,.Fee ,.Adjuster, ,.Bureau ,.Adjuster
Adjuster ,.- ,.Public ,.- ,.(correct ,.answer) ,.-
An ,.adjuster ,.who ,.is ,.hired ,.to ,.represent ,.the ,.claimant ,.and ,.help ,.determine ,.a ,.fair ,.indemnification. ,.Us
ually ,.specializes ,.in ,.appraisals ,.and ,.negotiation. ,.Paid ,.commission, ,.usually ,.a ,.percentage ,.of ,.final ,.settl
ement.
Adjuster ,.- ,.Staff ,.- ,.(correct ,.answer) ,.-
Salaried ,.employee ,.of ,.one ,.insurance ,.company ,.who ,.can ,.work ,.locally, ,.regionally, ,.or ,.nationally. ,.Also ,
.called: ,.Company ,.Adjuster
Advance ,.Payment ,.Settlement ,.- ,.(correct ,.answer) ,.-
A ,.settlement ,.option ,.that ,.lets ,.the ,.insurer ,.offer ,.some ,.financial ,.relief ,.to ,.the ,.claimant ,.before ,.the ,.cl
aim ,.has ,.been ,.fully ,.settled. ,.The ,.insurer ,.makes ,.advance ,.payments ,.to ,.the ,.claimant, ,.which ,.are ,.then
,.subtracted ,.from ,.the ,.final ,.settlement ,.amount. ,.Often ,.used ,.when ,.a ,.claimant ,.suffers ,.bodily ,.injury ,.a
nd ,.is ,.unable ,.to ,.work.
Agency ,.Authority ,.- ,.(correct ,.answer) ,.-
The ,.Agent's ,.authority ,.to ,.act ,.on ,.behalf ,.of ,.someone ,.else, ,.usually ,.an ,.insurer. ,.This ,.authority ,.is ,.deriv
ed ,.from ,.the ,.agent's ,.contract ,.with ,.the ,.insurer.
Agency ,.Authority ,.- ,.express ,.- ,.(correct ,.answer) ,.-
Authority ,.that ,.is ,.expressly ,.given ,.to ,.the ,.agent ,.in ,.writing. ,.Allows ,.agent ,.to ,.act ,.on ,.behalf ,.of ,.the ,.pri
ncipal.
Agency ,.Authority ,.- ,.implied ,.- ,.(correct ,.answer) ,.-
Authority ,.that ,.an ,.agent ,.possesses ,.by ,.implication ,.of ,.her ,.behavior, ,.regardless ,.of ,.whether ,.this ,.auth
ority ,.is ,.granted ,.in ,.writing.
Agency ,.Authority ,.- ,.apparent ,.- ,.(correct ,.answer) ,.-
Authority ,.that ,.an ,.agent ,.possesses ,.based ,.on ,.the ,.appearance ,.of ,.representing ,.the ,.insurer.
Agent ,.- ,.(correct ,.answer) ,.-
Someone ,.who ,.has ,.received ,.authority ,.from ,.an ,.insurer ,.to ,.sell ,.or ,.service ,.insurance ,.policies.
Aggregate ,.Limit ,.- ,.(correct ,.answer) ,.-
A ,.type ,.of ,.policy ,.limit ,.found ,.in ,.some ,.health, ,.liability, ,.and ,.property ,.damage ,.policies. ,.It ,.represents ,.
the ,.total ,.amount ,.the ,.insurer ,.will ,.pay ,.for ,.all ,.losses ,.
(as ,.opposed ,.to ,.an ,.occurrence ,.limit, ,.which ,.denotes ,.the ,.total ,.amount ,.the ,.insurer ,.will ,.pay ,.per ,.occ
urrence).
Agreement ,.- ,.(correct ,.answer) ,.-
One ,.of ,.the ,.four ,.requirements ,.of ,.a ,.legally ,.binding ,.contract. ,.All ,.parties ,.involved ,.must ,.agree ,.to ,.th
, e ,.terms ,.of ,.the ,.contract. ,.Can ,.also ,.refer ,.to ,.a ,.binder, ,.which ,.is ,.the ,.preliminary ,.substance ,.of ,.a ,.cont
ract.
Agricultural ,.Producer ,.- ,.(correct ,.answer) ,.-
A ,.business ,.that ,.grows, ,.harvests, ,.and ,.sells ,.crops ,.for ,.profit.
Aleatory ,.- ,.(correct ,.answer) ,.-
A ,.characteristic ,.of ,.an ,.insurance ,.contract. ,.Means ,."depending ,.on ,.an ,.unknown ,.future ,.event." ,.An ,.in
surance ,.contract ,.will ,.only ,.pay ,.IF ,.and ,.WHEN ,.covered ,.damages ,.occur. ,.Neither ,.party ,.knows ,.how ,.m
uch ,.the ,.contract ,.will ,.end ,.up ,.paying ,.when ,.they ,.enter ,.into ,.the ,.contract.
Answer ,.- ,.(correct ,.answer) ,.-
In ,.liability ,.cases, ,.the ,.defendant's ,.response ,.to ,.a ,.complaint. ,.There ,.are ,.three ,.possible ,.answers: ,.1) ,.a
ccept ,.complaint ,.and ,.pay ,.for ,.damages, ,.2) ,.deny ,.the ,.complaint, ,.or ,.3) ,.accept ,.the ,.complaint ,.with ,.a ,.
right ,.to ,.insert ,.evidence ,.into ,.the ,.case.
Annual ,.Depreciation ,.- ,.(correct ,.answer) ,.-
An ,.item's ,.Replacement ,.cost ,.divided ,.by ,.the ,.number ,.of ,.years ,.in ,.its ,.expected ,.lifespan.
Appraisal ,.- ,.(correct ,.answer) ,.-
A ,.negotiation ,.method ,.which ,.allows ,.the ,.claimant ,.and ,.the ,.insurer ,.each ,.to ,.select ,.an ,.appraiser. ,.The
,.two ,.appraisers ,.in ,.turn ,.select ,.an ,.Umpire. ,.The ,.appraisers ,.then ,.work ,.together ,.to ,.determine ,.a ,.settl
ement ,.amount. ,.If ,.they ,.cannot ,.agree, ,.the ,.Umpire ,.steps ,.in. ,.Agreement ,.by ,.any ,.two ,.of ,.the ,.three ,.is
,.binding.
Arbitration ,.- ,.(correct ,.answer) ,.-
A ,.negotiation ,.method ,.in ,.which ,.the ,.opposing ,.parties ,.each ,.submit ,.their ,.evidence ,.to ,.a ,.mutually-
agreed-
upon ,.and ,.neutral ,.third ,.party, ,.called ,.an ,.arbitrator. ,.The ,.arbitrator ,.reviews ,.the ,.positions ,.of ,.each ,.o
pposing ,.side, ,.and ,.makes ,.a ,.final ,.and ,.legally ,.binding ,.decision.
Arbitrator ,.- ,.(correct ,.answer) ,.-The ,.mutually-agreed-
upon ,.and ,.neutral ,.third ,.party ,.in ,.an ,.arbitration ,.who ,.reviews ,.the ,.positions ,.of ,.each ,.opposing ,.side, ,.
and ,.makes ,.a ,.final ,.and ,.legally ,.binding ,.decision.
Artificially ,.Generated ,.Current ,.- ,.(correct ,.answer) ,.-
Also ,.called ,."artificial ,.current." ,.A ,.peril ,.covered ,.in ,.some ,.property ,.insurance ,.policies. ,.It ,.includes ,.sud
den ,.and ,.accidental ,.damage ,.from ,.any ,.electrical ,.current, ,.except ,.currents ,.that ,.are ,.naturally ,.generat
ed, ,.such ,.as ,.lightning ,.or ,.static ,.electricity.
Auto ,.Policy ,.- ,.(correct ,.answer) ,.-
Insurance ,.policy ,.designed ,.to ,.protect ,.the ,.policyholder ,.while ,.owning, ,.occupying, ,.or ,.operating ,.a ,.ve
hicle. ,.Usually ,.combines ,.liability ,.coverage ,.and ,.property ,.coverage ,.into ,.one ,.policy.
QUESTIONS AND CORRECT ANSWERS (VERIFIED
ANSWERS)
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)
Acreage ,.Reporting ,.Date ,.- ,.(correct ,.answer) ,.-
The ,.deadline ,.for ,.providing ,.the ,.insurer ,.with ,.an ,.acreage ,.report, ,.which ,.is ,.used ,.to ,.determine ,.the ,.a
mount ,.of ,.coverage ,.needed ,.and ,.the ,.premium ,.charged ,.for ,.a ,.particular ,.crop.
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)
Actual ,.Production ,.History ,.- ,.(correct ,.answer) ,.-A ,.history ,.of ,.a ,.farmer's ,.crop ,.yields ,.over ,.a ,.multi-
year ,.period, ,.which ,.is ,.used ,.to ,.determine ,.the ,.normal ,.production ,.level ,.of ,.a ,.farm.
Adhesion ,.- ,.(correct ,.answer) ,.-Characteristic ,.of ,.an ,.insurance ,.contract. ,.Means ,.that ,.one ,.party ,.
(the ,.insurer) ,.sets ,.the ,.terms, ,.and ,.the ,.other ,.(the ,.policyholder) ,.can ,."take ,.it ,.or ,.leave ,.it."
Adjusted ,.Gross ,.Revenue ,.(Crop ,.Insurance) ,.- ,.(correct ,.answer) ,.-Narrowest ,.
(and ,.least ,.expensive) ,.form ,.of ,.Crop ,.Revenue ,.Insurance. ,.Insures ,.farm ,.revenue ,.as ,.a ,.whole ,.instead ,.
of ,.individual ,.crops. ,.Guarantees ,.a ,.percentage ,.of ,.the ,.insured ,.farm's ,.average ,.revenue.
Adjuster ,.- ,.(correct ,.answer) ,.-
An ,.agent ,.who, ,.for ,.compensation, ,.processes ,.insurance ,.claims. ,.Can ,.represent ,.either ,.the ,.insured ,.or
,.the ,.insurer.
Adjuster ,.- ,.Emergency ,.- ,.(correct ,.answer) ,.-
Adjusters ,.who ,.are ,.temporarily ,.licensed ,.by ,.the ,.insurance ,.commissioner ,.to ,.handle ,.claims ,.during ,.ca
tastrophes ,.or ,.emergencies ,.that ,.produce ,.an ,.overwhelming ,.number ,.of ,.claims ,.in ,.a ,.short ,.period ,.of ,.
time.
,Adjuster ,.- ,.Independent ,.- ,.(correct ,.answer) ,.-Self-
employed ,.adjusters ,.who ,.contract ,.with ,.multiple ,.insurers ,.at ,.the ,.same ,.time. ,.Paid ,.on ,.a ,.commission ,
.or ,.fee-plus-expenses ,.basis ,.for ,.each ,.claim. ,.Also ,.called: ,.Fee ,.Adjuster, ,.Bureau ,.Adjuster
Adjuster ,.- ,.Public ,.- ,.(correct ,.answer) ,.-
An ,.adjuster ,.who ,.is ,.hired ,.to ,.represent ,.the ,.claimant ,.and ,.help ,.determine ,.a ,.fair ,.indemnification. ,.Us
ually ,.specializes ,.in ,.appraisals ,.and ,.negotiation. ,.Paid ,.commission, ,.usually ,.a ,.percentage ,.of ,.final ,.settl
ement.
Adjuster ,.- ,.Staff ,.- ,.(correct ,.answer) ,.-
Salaried ,.employee ,.of ,.one ,.insurance ,.company ,.who ,.can ,.work ,.locally, ,.regionally, ,.or ,.nationally. ,.Also ,
.called: ,.Company ,.Adjuster
Advance ,.Payment ,.Settlement ,.- ,.(correct ,.answer) ,.-
A ,.settlement ,.option ,.that ,.lets ,.the ,.insurer ,.offer ,.some ,.financial ,.relief ,.to ,.the ,.claimant ,.before ,.the ,.cl
aim ,.has ,.been ,.fully ,.settled. ,.The ,.insurer ,.makes ,.advance ,.payments ,.to ,.the ,.claimant, ,.which ,.are ,.then
,.subtracted ,.from ,.the ,.final ,.settlement ,.amount. ,.Often ,.used ,.when ,.a ,.claimant ,.suffers ,.bodily ,.injury ,.a
nd ,.is ,.unable ,.to ,.work.
Agency ,.Authority ,.- ,.(correct ,.answer) ,.-
The ,.Agent's ,.authority ,.to ,.act ,.on ,.behalf ,.of ,.someone ,.else, ,.usually ,.an ,.insurer. ,.This ,.authority ,.is ,.deriv
ed ,.from ,.the ,.agent's ,.contract ,.with ,.the ,.insurer.
Agency ,.Authority ,.- ,.express ,.- ,.(correct ,.answer) ,.-
Authority ,.that ,.is ,.expressly ,.given ,.to ,.the ,.agent ,.in ,.writing. ,.Allows ,.agent ,.to ,.act ,.on ,.behalf ,.of ,.the ,.pri
ncipal.
Agency ,.Authority ,.- ,.implied ,.- ,.(correct ,.answer) ,.-
Authority ,.that ,.an ,.agent ,.possesses ,.by ,.implication ,.of ,.her ,.behavior, ,.regardless ,.of ,.whether ,.this ,.auth
ority ,.is ,.granted ,.in ,.writing.
Agency ,.Authority ,.- ,.apparent ,.- ,.(correct ,.answer) ,.-
Authority ,.that ,.an ,.agent ,.possesses ,.based ,.on ,.the ,.appearance ,.of ,.representing ,.the ,.insurer.
Agent ,.- ,.(correct ,.answer) ,.-
Someone ,.who ,.has ,.received ,.authority ,.from ,.an ,.insurer ,.to ,.sell ,.or ,.service ,.insurance ,.policies.
Aggregate ,.Limit ,.- ,.(correct ,.answer) ,.-
A ,.type ,.of ,.policy ,.limit ,.found ,.in ,.some ,.health, ,.liability, ,.and ,.property ,.damage ,.policies. ,.It ,.represents ,.
the ,.total ,.amount ,.the ,.insurer ,.will ,.pay ,.for ,.all ,.losses ,.
(as ,.opposed ,.to ,.an ,.occurrence ,.limit, ,.which ,.denotes ,.the ,.total ,.amount ,.the ,.insurer ,.will ,.pay ,.per ,.occ
urrence).
Agreement ,.- ,.(correct ,.answer) ,.-
One ,.of ,.the ,.four ,.requirements ,.of ,.a ,.legally ,.binding ,.contract. ,.All ,.parties ,.involved ,.must ,.agree ,.to ,.th
, e ,.terms ,.of ,.the ,.contract. ,.Can ,.also ,.refer ,.to ,.a ,.binder, ,.which ,.is ,.the ,.preliminary ,.substance ,.of ,.a ,.cont
ract.
Agricultural ,.Producer ,.- ,.(correct ,.answer) ,.-
A ,.business ,.that ,.grows, ,.harvests, ,.and ,.sells ,.crops ,.for ,.profit.
Aleatory ,.- ,.(correct ,.answer) ,.-
A ,.characteristic ,.of ,.an ,.insurance ,.contract. ,.Means ,."depending ,.on ,.an ,.unknown ,.future ,.event." ,.An ,.in
surance ,.contract ,.will ,.only ,.pay ,.IF ,.and ,.WHEN ,.covered ,.damages ,.occur. ,.Neither ,.party ,.knows ,.how ,.m
uch ,.the ,.contract ,.will ,.end ,.up ,.paying ,.when ,.they ,.enter ,.into ,.the ,.contract.
Answer ,.- ,.(correct ,.answer) ,.-
In ,.liability ,.cases, ,.the ,.defendant's ,.response ,.to ,.a ,.complaint. ,.There ,.are ,.three ,.possible ,.answers: ,.1) ,.a
ccept ,.complaint ,.and ,.pay ,.for ,.damages, ,.2) ,.deny ,.the ,.complaint, ,.or ,.3) ,.accept ,.the ,.complaint ,.with ,.a ,.
right ,.to ,.insert ,.evidence ,.into ,.the ,.case.
Annual ,.Depreciation ,.- ,.(correct ,.answer) ,.-
An ,.item's ,.Replacement ,.cost ,.divided ,.by ,.the ,.number ,.of ,.years ,.in ,.its ,.expected ,.lifespan.
Appraisal ,.- ,.(correct ,.answer) ,.-
A ,.negotiation ,.method ,.which ,.allows ,.the ,.claimant ,.and ,.the ,.insurer ,.each ,.to ,.select ,.an ,.appraiser. ,.The
,.two ,.appraisers ,.in ,.turn ,.select ,.an ,.Umpire. ,.The ,.appraisers ,.then ,.work ,.together ,.to ,.determine ,.a ,.settl
ement ,.amount. ,.If ,.they ,.cannot ,.agree, ,.the ,.Umpire ,.steps ,.in. ,.Agreement ,.by ,.any ,.two ,.of ,.the ,.three ,.is
,.binding.
Arbitration ,.- ,.(correct ,.answer) ,.-
A ,.negotiation ,.method ,.in ,.which ,.the ,.opposing ,.parties ,.each ,.submit ,.their ,.evidence ,.to ,.a ,.mutually-
agreed-
upon ,.and ,.neutral ,.third ,.party, ,.called ,.an ,.arbitrator. ,.The ,.arbitrator ,.reviews ,.the ,.positions ,.of ,.each ,.o
pposing ,.side, ,.and ,.makes ,.a ,.final ,.and ,.legally ,.binding ,.decision.
Arbitrator ,.- ,.(correct ,.answer) ,.-The ,.mutually-agreed-
upon ,.and ,.neutral ,.third ,.party ,.in ,.an ,.arbitration ,.who ,.reviews ,.the ,.positions ,.of ,.each ,.opposing ,.side, ,.
and ,.makes ,.a ,.final ,.and ,.legally ,.binding ,.decision.
Artificially ,.Generated ,.Current ,.- ,.(correct ,.answer) ,.-
Also ,.called ,."artificial ,.current." ,.A ,.peril ,.covered ,.in ,.some ,.property ,.insurance ,.policies. ,.It ,.includes ,.sud
den ,.and ,.accidental ,.damage ,.from ,.any ,.electrical ,.current, ,.except ,.currents ,.that ,.are ,.naturally ,.generat
ed, ,.such ,.as ,.lightning ,.or ,.static ,.electricity.
Auto ,.Policy ,.- ,.(correct ,.answer) ,.-
Insurance ,.policy ,.designed ,.to ,.protect ,.the ,.policyholder ,.while ,.owning, ,.occupying, ,.or ,.operating ,.a ,.ve
hicle. ,.Usually ,.combines ,.liability ,.coverage ,.and ,.property ,.coverage ,.into ,.one ,.policy.
