Adjuster pro 2023 test Study guides, Class notes & Summaries

TEST FOR ADJUSTER PRO, FLORIDA STUDY(QUESTIONS AND ANSWERS)A+ GRADED EXAM 2023-2024 - CORRECT ANSWER-Subtract the deductible from covered damages to get indemnification - CORRECT ANSWER-6 unique characteristics of insurance policy 1 Contracts of adhesion (court ez win) 2 Utmost good faith 3 aleatory 4 personal 5 Unilateral (only insurer has obligation) 6 Conditional - CORRECT ANSWER-1945 regulate insurance Naic doesn't give benefits to comissioners 90 day to pay hijacking onl...

ADJUSTER PRO - INSURANCE ADJUSTER TEST(QUESTIONS AND REVIEWED ANSWERS) 2023-2024 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 p...

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Adjuster Pro - Insurance adjuster test latest 2023 already passed What is insurance? protection against financial loss what is a premium a scheduled amount to be paid for an insurance policy. What are premiums used for 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? the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. what is Ind...

ADJUSTER PRO 2023 TEST 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. Means that on...

Adjuster Pro - Insurance Adjuster Test 2023 Questions and Answers (Verified Answers) Adjuster Pro - Insurance Adjuster Test 2023 Questions and Answers (Verified Answers)

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Adjuster Pro - Insurance Adjuster Test 2023-2024 Questions and Answers 100% CorrectAdjuster Pro - Insurance Adjuster Test 2023-2024 Questions and Answers 100% CorrectAdjuster Pro - Insurance Adjuster Test 2023-2024 Questions and Answers 100% CorrectAdjuster Pro - Insurance Adjuster Test 2023-2024 Questions and Answers 100% Correct What is insurance? - ANSWER-protection against financial loss what is a premium - ANSWER-a scheduled amount to be paid for an insurance policy. What are premium...

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