TX ADJUSTER TEST Exam Questions with
100% Correct Answers | Verified 20256 |
ASSURED SUCCESS
Subrogate Subrogation is the right for an insurer to legally pursue a third party that caused an insurance
loss to the insured. This is done as a means of recovering the amount of the claim paid by the insurance
carrier to the insured for the loss. - CORRECT ANSWERS While investigating a claim, you
determine that the loss was caused by a defective mechanism in the dishwasher. You would attempt
to_________________________?
Appraisal - CORRECT ANSWERS What is the process when an insurer and an insured have a
dispute regarding the amount of damage?
Material Misrepresentation - CORRECT ANSWERS
__________________________________________________is a significant misstatement in an
application form. If a company had access to the correct information at the time of application, the
company might not have agreed to accept the application.
Age, Condition and Life Expectancy - CORRECT ANSWERS As an adjuster, you should base
depreciation on these three factors?
Umpire - CORRECT ANSWERS An_________________ is a person hired by the property owner
to settle the claim with insurance company on their behalf.
HO-A - CORRECT ANSWERS This type of policy provides coverage only for those perils that are
listed in the policy?
Additional Living Expenses - CORRECT ANSWERS _________________________ are extra
charges covered by homeowner's policies over and above the policyholder's customary living expenses.
, Occurrence - CORRECT ANSWERS _______________________is an event that results in an
insured loss/damages?
Actual Cash Value - CORRECT ANSWERS What is value of your property, based on the current
cost to replace it, minus depreciation?
Incurred Expenses - CORRECT ANSWERS Expenses that have already sustained and that have
not yet been paid are known as ____________________________________.
Declarations Page - CORRECT ANSWERS ________________________________is the part of
the written insurance policy that states all the policy's specific's, including the name of the policyholder,
the type of property insured, the premiums, and the term limits for the coverage.
Negligence - CORRECT ANSWERS What is the failure to use that degree of care which an
ordinary person of reasonable prudence would use under similar circumstances?
Overhead and Profit - CORRECT ANSWERS ______________________________is the amount
of money dedicated to a general contractor's cost of doing a business and earning a profit.
Third Party Loss - CORRECT ANSWERS ____________________________is a situation
involving a person other than an insurer and the insured.
Reserves - CORRECT ANSWERS What is the amount representing actual or potential liabilities
kept by and insurer to cover debts to policyholder?
First Party Loss - CORRECT ANSWERS This loss involves only the insurer and the insured?
Liability - CORRECT ANSWERS What is the responsibility to another for one's negligence?
100% Correct Answers | Verified 20256 |
ASSURED SUCCESS
Subrogate Subrogation is the right for an insurer to legally pursue a third party that caused an insurance
loss to the insured. This is done as a means of recovering the amount of the claim paid by the insurance
carrier to the insured for the loss. - CORRECT ANSWERS While investigating a claim, you
determine that the loss was caused by a defective mechanism in the dishwasher. You would attempt
to_________________________?
Appraisal - CORRECT ANSWERS What is the process when an insurer and an insured have a
dispute regarding the amount of damage?
Material Misrepresentation - CORRECT ANSWERS
__________________________________________________is a significant misstatement in an
application form. If a company had access to the correct information at the time of application, the
company might not have agreed to accept the application.
Age, Condition and Life Expectancy - CORRECT ANSWERS As an adjuster, you should base
depreciation on these three factors?
Umpire - CORRECT ANSWERS An_________________ is a person hired by the property owner
to settle the claim with insurance company on their behalf.
HO-A - CORRECT ANSWERS This type of policy provides coverage only for those perils that are
listed in the policy?
Additional Living Expenses - CORRECT ANSWERS _________________________ are extra
charges covered by homeowner's policies over and above the policyholder's customary living expenses.
, Occurrence - CORRECT ANSWERS _______________________is an event that results in an
insured loss/damages?
Actual Cash Value - CORRECT ANSWERS What is value of your property, based on the current
cost to replace it, minus depreciation?
Incurred Expenses - CORRECT ANSWERS Expenses that have already sustained and that have
not yet been paid are known as ____________________________________.
Declarations Page - CORRECT ANSWERS ________________________________is the part of
the written insurance policy that states all the policy's specific's, including the name of the policyholder,
the type of property insured, the premiums, and the term limits for the coverage.
Negligence - CORRECT ANSWERS What is the failure to use that degree of care which an
ordinary person of reasonable prudence would use under similar circumstances?
Overhead and Profit - CORRECT ANSWERS ______________________________is the amount
of money dedicated to a general contractor's cost of doing a business and earning a profit.
Third Party Loss - CORRECT ANSWERS ____________________________is a situation
involving a person other than an insurer and the insured.
Reserves - CORRECT ANSWERS What is the amount representing actual or potential liabilities
kept by and insurer to cover debts to policyholder?
First Party Loss - CORRECT ANSWERS This loss involves only the insurer and the insured?
Liability - CORRECT ANSWERS What is the responsibility to another for one's negligence?
