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Adjuster Pro
State Insurance Claims Adjuster-Pro Certification
Insurance Claims Adjuste-Pro Exam
Course Title and Number: Insurance Claims Adjuste-Pro Exam Exam Title: Board Exam Exam Date: Exam 2024- 2025 Instructor: [Insert Instructor’s Name] Student Name: [Insert Student’s Name] Student ID: [Insert Student ID]
Examination
180 minutes
Instructions:
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- Answer all questions.
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Adjuster Pro: State Insurance Claims Adjuster Certification 2024- Adjuster-Pro Exam Insurance Review Questions with Correct Answers | 100% Pass Guaranteed | Graded A+ | Read All Instructions Carefully and Answer All the Questions Correctly Good Luck: - An economic device used to protect against the risk of realizing unforeseen and extraordinary financial loss is called: - =Answer>> insurance In an insurance contract, the policyholder gives the insurer _____, and the insurer gives the policyholder - =Answer>> premium payments; peace of mind The transfer of risk from one party to another is called: - =Answer>> insurance. The Principle of Indemnity is designed to prevent: - =Answer>> an insured from making a profit. Which of the following best defines "insured"? - =Answer>> An individual or organization that pays premiums in exchange for financial protection What are the four requirements of a legally binding contract? - =Answer>> Agreement, consideration, competent parties, legal purpose Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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homeowners policy. Assuming that Frank's policy includes an over insurance provision, how much will his ensure indemnify Frank for his loss? - =Answer>> $ A lightning strike causes one of the storage buildings on John's farm to burn to the ground, headed by the fuel tanks he kept in the building. John knows he wasn't supposed to store in if you're in the building, so he keeps that piece of information to himself when he found a claim. John's insurer may his claim based on his: - =Answer>> Concealment The cancellation/non-renewal provision: - =Answer>> Why is the insurer to provide notice before canceling your policy The liberalization clause in an insurance policy: - =Answer>> states that any change to a policy form that broadens coverage without increasing the premium will automatically apply to existing policies. Jim has to policies that cover the same risk, but they respond differently: policy X is primary and Policy Z is excess. Policy X has a limit of $50,000 in policy Z have a limit of $25,000. When Jim suffers an insured lost totaling $62,000, how what each policy respond? - =Answer>> Dennis was injured when Ruby rear ended his car while he stopped at a red light. Which of the following would not be a duty that Rubys liability insurance may require a Dennis? - =Answer>> Dennis is not required Dennis is not required to report the occurrence to his insurer Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Jerry owns a hardware store and employees bill. One day, while Bill is driving a forklift, he gets careless and crashes into a fully stocked shelf, damaging thousands of dollars worth of merchandise and other store property in the process. What policy condition allows you to collect for the loss on his insurance contract? - =Answer>> Control of property Which of the following is not true of the companies options for vision in the standard fire policy? What is not true of the companies options for vision in the standard fire policy? - =Answer>> It requires the insured to settle the claim in whichever manner is chooses within 30 days of receiving notice of the claim According to the mortgage clause, which is not one of the rights of the mortgagee? - =Answer>> The mortgagee clause does not give the mortgagee to ride to change the coverage amount Nina is deep in debt and files bankruptcy after crashing her car in the Ben's luxury sedan and can't afford to pay the portion of the damage that exceeds her policy limit. Which of the following statements is true? - =Answer>> Nina's insurer will pay any cover liability claims on behalf of the insured up to the limit The Severeability of interest conditions states that - =Answer>> Coverage applies to each insured separately, as if no other insured existed Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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A hell storm moves over Aaron's restaurant large hail stones break through a skylight and water pours and damaging the floor in the restaurant additionally the electrical system shorts Alan Aaron has the clothes for three days the hail would be considered - =Answer>> The proximate cause of the loss A predefined monetary portion of an insurance claim paid by a policyholder is a - =Answer>> Deductible Flora is driving in the rain when she skids off the road and slams into cams billboard totaling her car and causing 2000 in damage to the billboard flora has an auto policy with ABC insurance cam files a third-party claim and ABC insurance pays him 1500 for the billboard which of the following is true - =Answer>> Cam may sue Flora for $ Francis lives in a nice house valued at $300,000 he is fully insured and his homeowners policy has a $500 fix deductible for fire and hail damage and a 3% deductible for all other perils including wind damage one evening a massive storm hits and blows the roof off Francis home the cost to repair the roof will be $22,000 how much of the cost will the insurer cover - =Answer>> 13, Frank purchases a homeowners policy worth $700,000 with a 4% deductible a few months later a heavy hell storm destroys his roof porch and windows causing 50,000 in damages frank should expect __________ from the insurance company to pay for the damages - =Answer>> 22, Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Marcel's home is valued at $495,000 and he carries a homeowners policy with a limit of $400,000 in a 2% deductible during an ice storm the weight of the ice on a tree in Marcel's front yard caused a large limb to break off and fall on his house causing $27,200 in damage how much for Marcel receiving his settlement for this claim - =Answer>> 19, Which of the following statements about insurable interest is false - =Answer>> Dean has insurable interest in the cities power transformer that supplies power to the homes on history because the damage to the transformer would leave Dean without power. Linda's home is worth $525,000 she has a homeowners policy with a $500,000 limit and a 1.5% deductible when Linda's husband says their kitchen on fire while frying a turkey he accidentally causes $36,000 in damages how much can Linda and her husband expect to receive in their settlement - =Answer>> 28, Which of the following is the easiest and least costly option Litigation, mediation, adjuster/claimant negotiation, arbiration - =Answer>> adjuster/claimant negotiation A hell storm damage Jim's roof and windows the adjuster find the total and cover damages to be $13,000 but James is convinced that he should be covered up to $25,000 direct adjuster/climate negotiation will probably not be possible in this situation because - =Answer>> Difference between the two dollar amounts is too great Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Lawrence is 24 but he gives his age as 26 on his car insurance application because he hopes this will give him a better rate Lawrence actions could be best described as - =Answer>> Misrepresentation Natalie's brakes have been squealing for several months every time she drives her car she's reminded that she needs to have them replaced but she forgets all about it as soon as she gets out of the car Natalie's actions can be considered a - =Answer>> morale hazard Darian's SUV cost him $28,500 when he bought it new five years ago but it would cost $29,600 to replace it today the vehicle has an annual depression of $1200 Duran loses control while driving too fast around a bend in the road and flipped his vehicle totaling it assuming Darien's auto insurance policy pays AVC how much can he expect to receive in indemnification for this claim - =Answer>> 23, Which of the following statements is true A. replacement cost valuations are usually beneficial to the policyholder B. A valued policy will always indemnify a policyholder utilizing actual cash value valuation C. In determining how much to indemnify a policyholder in a replacement policy and insurer must analyze how long the policyholder has owned the insured item D. Actual cash value generally reflects what it would cost to replace an item at current price - =Answer>> A Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Even after Ed finish his investigation and told Adaline that her damages were covered she was still concerned that her in Sherwood and I her claim and showed her that there was no need to worry and that her and Sherwood back up his decision why might Ed be so sure of this fact? - =Answer>> As an adjuster Ed has the power to bind the insurer to the decision he makes on their behalf Tom is an experience insurance agent looking for a new job where he works for one insure and has the responsibility of training and supervising other agents which of the following would best fit the type of job Tom is looking for - =Answer>> General agent And adjusters preliminary claim report should - =Answer>> Establish a claim reserve And adjusters preliminary report would most likely not - =Answer>> Include the settlement amount As a result of a business decision company cues insurer has brought in mold coverage in news standard commercial property policies without increasing the premium rate which of the following is true? A. The liberalization clause requires that this broaden coverage automatically applied to company cues existing policy B. the assignment clause requires that does broaden coverage be offered to company. Q Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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the following is the least expensive option that means Jeremy special need - =Answer>> Homeowners 5 What homeowners policy coverage does not usually have a deductible - =Answer>> Fire department service charge What ISO form is known as the condominium form - =Answer>> Homeowners 6 A typical mobile home policy - =Answer>> settles losses on an actual cash value basis. Michelle just purchased a homeowners policy for her new single-family home although she would have like the best coverage money can buy she could not afford the most expensive policy she compromise with a policy that provides open-peril coverage for her house and detached garage and named-peril coverage for her personal property which homeowners policy did she purchuse? - =Answer>> HO- 3 The limit of liability for Coverage B Other Structures is typically - =Answer>> 10% of coverage A North Carolina manufactured homeowners insurance policies include loss of use coverage to pay for the ensures increased expenses when the home becomes uninhabitable because of a covered loss how much can the MH (C) form pay for under this coverage - =Answer>> Up to 10 dollars per day for reasonable additional living expenses limited to 60 days Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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A third-party is injured on your property which part of a homeowners insurance policy provides coverage for their medical expenses - =Answer>> Coverage F Jake and his neighbor Bill are working to repair Jake's roof Jake set up two ladder side-by-side for each of them to use while working on the gutters while at the top of the ladder Jake falls into bills ladder sitting them both tumbling to the ground whose injuries will be covered by Jake's homeowners policy under coverage E personal liability - =Answer>> Bills injuries James rents a home to Amanda and maintains a DP - 3 policy on the dwelling. One day Amanda accidentally leaves the oven on all day while she is out and James house burns to the ground along with all the continents , which items could be covered under coverage the personal property in James DP-3 - =Answer>> James appliances While reviewing his DP-3 policy Jim notices that some additional coverages are included in his coverage A limit while others are paid in addition to that limit. which two additional coverages are included with Jim's coverage A limit - =Answer>> Debris removal and reasonable repairs In a PAP then insurers right to recover payment basically reinforces the principle of - =Answer>> subrogation Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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receive under coverage B of her farm policy - =Answer>> $ New U's an upscale beauty shop wants to purchase a business owners policy. Which of the following is a typical requirement that they must meet in order to qualify for a BOP - =Answer>> Their sales cannot exceed $3 million Jim's factory was damaged by a fire and shut down for 90 days for repairs. In order to keep his business going Jim spends $150,000 renting another building along with some machinery and other supplies. How do you not take any measures to continue business operations Jim's total loss of business income would have been $300,000 but by renting a building and equipment he manages to reduce that cost by $80,000 James commercial property policy includes business income coverage without extra expense. How much will his insurer indemnify him? - =Answer>> 300, Mr. Lee has a disruptive tenant who throws loud parties trashes the apartment and leaves trash in the common areas when she fails to pay rent Mr. Lee finally begins the lengthly eviction process. One day after a heated telephone exchange Mr. Lee decides he has had enough and stormed into the tenants apartment and begins throwing her belongings out on the street. This invasion of privacy is an example of what type of personal injury covered under Mr. Lee's CGL policy? - =Answer>> Wrongful entry insurance - =Answer>> an economic tool used to protect against the risk of unforseen & extraordinary financial loss. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Premium - =Answer>> an amount to be paid for an insurance policy. Indemnification may include what? - =Answer>> Repairs to property, Rental cars, hotels, cost directly associated w/ loss as allotted under the policy. Principle of Indemnity - =Answer>> Restoration to approximate previous financial condition, no more no less. Cannot profit from loss. what does insurance do? - =Answer>> transfers risk from 1 party to another party. How does Insuranxe work? - =Answer>> Insured pays premium, Insurers promises to pay for loss, insured gets peace of mind from insurer. Claiment - =Answer>> after filing a claim the insured becomes a claiment. claimant. can file a claim for covered loss? - =Answer>> policy holder Insurance Policy contract - =Answer>> provide financial protection for a fee., legally binding because it is a legal contract. 4 requirements of a contract - =Answer>> Agreement, consideration, competent parties and legal purpose. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Insurance policy - =Answer>> a legally binding contract where the risk of financial loss is transferred in exchange for premiums. what is a reserve in insurance terms? - =Answer>> A pool of collected premiums that the insurer sets aside to pay claims. utmost good faith - =Answer>> both parties must act honestly and openly in order for the contract to be valid. Includes being honest without prior Convictions. Aleatory Contract - =Answer>> the execution of the contract depends on an unknown future event contract of adhesion - =Answer>> there is an unequal balance of power in the creation of the contract. Woman party gets to set the terms of the contract, while the other only chooses whether or not to accept those terms. insurance policies are contracts of adhesion - =Answer>> The insurer gets to set Most of the terms of the contract. The flip side however is that When the policy is not clearer about the coverage it provides a court will usually side with the policy holder. DICE - =Answer>> declaration's page, entering agreement, conditions, exclusions. an insurance agreement has 4 essential parts - =Answer>> DICE Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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what is on Dec Page? - =Answer>> Names of both parties, policy number, Location And description of insured item , value of insured item, Dates of the policy beginning an end, amount of limit of coverage,deductible, premium. insuring agreement - =Answer>> part of the insurance contract that says what is covered and how. Insuring Agreement summarizes - =Answer>> What is covered, which causes of loss are covered, Any services provided, any exclusions to coverage, the Max limit of policy coverage in dollars. conditions section - =Answer>> the insurer specifies any limits or qualifications the PH must meet, Is had a foul proof of loss, how to protect the property after loss. In an insurance policy, where might one find the make and model of the covered vehicle. - =Answer>> Declarations Endorsements - =Answer>> are used to make changes to a policy, such as changing coverage from ACV to Replacement Costs, adding an insured or reducing coverage. Unilateral Contract - =Answer>> Only one party makes a promise to perform. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
