Page |1
ADJUSTER PRO - INSURANCE ADJUSTER TEST
2025| BRAND NEW ACTUAL EXAM WITH 100%
VERIFIED QUESTIONS AND CORRECT
SOLUTIONS| GUARANTEED VALUE PACK| ACE
YOUR GRADES.
What is a contract of adhesion - correct answer - the insured must accept
the entire contract with all of its terms and conditions
Utmost Good Faith - correct answer - An obligation to act in complete
honesty and to disclose all relevant facts.
Aleatory Contract - correct answer - a contract where the values
exchanged may not be equal but depend on an uncertain event
Unilateral Contract - correct answer - insurance agrees that they must pay
in event of a claim. The insured can stop paying premiums at any point.
Only the insurer has promised to perform an action.
Conditional Contract - correct answer - A type of an agreement in which
both parties must perform certain duties and follow rules of conduct to
make the contract enforceable.
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Acronym for the four sections of an Insurance policy - correct answer -
DICE
D - declarations page
I - Insuring Agreement
C- Conditions
E - Exclusions
Decelerations section - correct answer - Always the first section -
establishes the following
Names of both parties
Policy number
Location and description of insured item
Dates of the policy
Amount and limit of coverage
Deductible
Premium
Definitions section - correct answer - Defines terms used to write policy
including "collusion" "decay" "like kind and quality"
Includes important language for adjusters to know
Insuring agreement section - correct answer - What is covered and how
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Which causes of loss are covered
Any services provided
Any exclusions to coverage
The maximum limit of policy coverage in dollars
What is insurance? - correct answer - protection against financial loss
What is a premium - correct answer - a scheduled amount to be paid for an
insurance policy.
What are premiums used for - correct answer - premiums are collected into
a "pool" or "reserve to pay out claimants when needed.
How can insurance companies afford to pay for an individuals catastrophic
loss? - correct answer - the insurer collects premiums from all policy
holders and uses them to pay out the claims of a few.
What is Indemnity - correct answer - payment for damages, that is not more
or less than the amount caused by the damage.
Principle of idemnity - correct answer - insurance will pay no more or less
than the actual financial loss suffered
ADJUSTER PRO - INSURANCE ADJUSTER TEST
2025| BRAND NEW ACTUAL EXAM WITH 100%
VERIFIED QUESTIONS AND CORRECT
SOLUTIONS| GUARANTEED VALUE PACK| ACE
YOUR GRADES.
What is a contract of adhesion - correct answer - the insured must accept
the entire contract with all of its terms and conditions
Utmost Good Faith - correct answer - An obligation to act in complete
honesty and to disclose all relevant facts.
Aleatory Contract - correct answer - a contract where the values
exchanged may not be equal but depend on an uncertain event
Unilateral Contract - correct answer - insurance agrees that they must pay
in event of a claim. The insured can stop paying premiums at any point.
Only the insurer has promised to perform an action.
Conditional Contract - correct answer - A type of an agreement in which
both parties must perform certain duties and follow rules of conduct to
make the contract enforceable.
, Page |2
Acronym for the four sections of an Insurance policy - correct answer -
DICE
D - declarations page
I - Insuring Agreement
C- Conditions
E - Exclusions
Decelerations section - correct answer - Always the first section -
establishes the following
Names of both parties
Policy number
Location and description of insured item
Dates of the policy
Amount and limit of coverage
Deductible
Premium
Definitions section - correct answer - Defines terms used to write policy
including "collusion" "decay" "like kind and quality"
Includes important language for adjusters to know
Insuring agreement section - correct answer - What is covered and how
, Page |3
Which causes of loss are covered
Any services provided
Any exclusions to coverage
The maximum limit of policy coverage in dollars
What is insurance? - correct answer - protection against financial loss
What is a premium - correct answer - a scheduled amount to be paid for an
insurance policy.
What are premiums used for - correct answer - premiums are collected into
a "pool" or "reserve to pay out claimants when needed.
How can insurance companies afford to pay for an individuals catastrophic
loss? - correct answer - the insurer collects premiums from all policy
holders and uses them to pay out the claims of a few.
What is Indemnity - correct answer - payment for damages, that is not more
or less than the amount caused by the damage.
Principle of idemnity - correct answer - insurance will pay no more or less
than the actual financial loss suffered
