Adjuster Pro

Florida Claims Adjuster Exam 2023 Peril Correct Answer: Something that causes a loss. Hazard Correct Answer: Something that increases the probability that a loss will occur. Warranty Correct Answer: A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation Correct Answer: An untrue statement by the insured, made in an application for insurance but which does not become a part of the pol...

Adjuster Pro - Insurance adjuster test 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 use...

Insurance Adjuster Exam 2023 Which kind of losses are covered under a standard fire policy? - Direct All fires are not covered by the Standard Fire policies, only those that: - are hostile and have a flame or glow At what time does a fire policy go into affect? - 12:01am standard time at the location of the insured's property A property is insured under two Standard Fire policies for $25,000 each. A fire causes $10,000 worth of damage. What is the maximum amount the insured ma...

Claims Adjuster Final 2023 An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of Correct Answer: The insured and insurer An insurer gives which of the following as Consideration for an insurance policy? Correct Answer: A Promise The interest of the insured and all other persons in the property involved in a claim is found in Correct Answer: A Proof of Loss An insured rear-ends another driver's vehicle. The auto policy that pays damages to repair t...

Florida Public Adjuster State Test 2023 Florida No-Fault Tort Exemption Correct Answer: Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) Correct Answer: 1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? Correct Answer: Nation...

Florida Claims Adjuster Exam 2023 1. Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests: D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is made by the insurer and it i...

Adjuster Pro Certification 2023 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) 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) Adhesion Correct Answer: One of the characteristics of an insurance contract. Mea...

Alabama AdjusterPro Exam for P&C with WC and Crop (2023) Alabama AdjusterPro Exam for P&C with WC and Crop (2023) 1: Incorrect Indemnification may include all of the following except: reimbursement for hotel costs. reimbursement for rental car costs. Answer Given payment for repairs to property. Actual Answer payment for pain and suffering. 2: Correct What is a reserve, in insurance terms? The amount of revenue that the insurer sets aside to pay employee s...

Adjuster Pro - Florida Certified Adjuster 2023 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) 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) Adhesion Correct Answer: One of the characteristics of an insurance con...

Adjuster Pro - Insurance adjuster test/154 Questions and Answers