Claims Adjuster Study guides, Class notes & Summaries

What is an eligible building for flood insurance?: A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage?: Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A?: No, HO-4 (Renters person- al property) What is casual labor in workers' compen...

Texas All Lines Adjuster Test Latest 2024 Graded A Accumulated Depreciation - Answer ️️ -The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Acreage Reporting Date - Answer ️️ -The deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. Actual Cash Value (ACV) - Answer ️️ -A valuation method used by insurers t...

GA Claims Adjuster Licensing Exam Latest 2024 Already Passed What coverage does Community Eligibility apply to? - Answer ️️ -Flood insurance through FEMA What's the difference between Emergency Program and Regular Program in the National Flood Insurance Program? - Answer ️️ -Emergency applies to homes in communities that are a normally not a flood hazard. Regular programs are awarded to an entire community that is eligible due to flood hazard. What is the flood coverage on a reg...

NC adjuster Exam Questions and Answers Already Passed Inception/Expiration Date - Answer ️️ -The date on which coverage became effective or expired. Policies in North Carolina become effective and expire at 12:01am Occurrence Date - Answer ️️ -The date on which the loss occurred Identification of Parties involve - Answer ️️ -The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names ...

Georgia Adjuster Exam Questions and Answers Already Passed Consequential also known as Indirect Loss - Answer ️️ -An insured's business is damaged because of a fire and he is forced to close business temporarily for repairs. As a result the insured lost income. What type of loss is this? Combined Single - Answer ️️ -The insured crashes into a porch and the person sitting on the porch. The person on the porch is injured. The insured's insurance policy has a limit set at $500,000....

6-20 Claims Adjuster Questions and Answers Graded A+ The following are basic characteristics of a property or liability insurance contract, EXCEPT: A. Personal Contract B. Conditional Contract C. Loss Settlement Contract D. Contract of Adhesion - Answer ️️ -C. Loss Settlement Contract The Insurers responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property against further loss, and to give the in...

Texas all lines adjuster license commercial general liability chapter 8 already passed Commercial general liability ( CGL) - Answer ️️ -This covers business liability hazards that are not covered under more specialiazed forms of insurance such as auto, marine, workers compensation and others. What are three forms of CGL - Answer ️️ -Professional liability Product liability Premises liability When liability is limited to acts of negligence, professional liability insurance may be ...

N.C. Claims Adjuster Exam Latest 2024 Rated A+ Inception/Expiration Date - Answer ️️ -an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. Occurrence Date - Answer ️️ -Date of which the loss occurred Identification of parties involved - Answer ️️ -The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured p...

Adjuster Pro - Insurance adjuster test latest 2024 already passed 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 premiums used for - 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? - Answer ️️ - the insurer collects premiums from all ...

Claims Adjuster Exam 1 Questions and Answers Rated A+ Actual Cash Value (ACV) - Answer ️️ -Cost to replace property with new property of like kind and quality less depreciation. Combined Single Limit - Answer ️️ -One limit per occurrence is what we pay up to Split limit - Answer ️️ -What we pay up to per person and per occurrence Deductible - Answer ️️ -What the customer will have to pay; we cover everything else Declarations Page (Dec Page) - Answer ️️ -The basic infor...

NC Claims Adjuster Exam Study Already Passed Liability Insurance PAP (Part A) - Answer ️️ -Pays all the sums and insured must legally pay as damage due to BI/PD caused by an accident and resulting from the ownership, maintenance or use of a covered auto. Coverage Part A through F of a PAP - Answer ️️ -A. Liability B. Medical Payments C. UM/UIM D. Physical Damage E. Insured Duties F. General Provisions Certificate of Insurance (COI) - Answer ️️ -A document that proves the ex...