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ADJUSTER EXAM STUDY PREP LATEST EXAM QUESTIONS WITH COMPLETE SOLUTIONS ANSWERED CORRECTLY 100% GUARANTEED PASSED When mary leaves her stove on by accident, she starts a fire that destroys her kitchen and leaves smmoke damage throughout her home. While the fire department puts the fire out, the influx of water causes extensive damage as well. On top of all that, Mary is forced to board her three dogs at a kennel for several weeks while her house is under repair. The kennel charge would be co...

Adjuster Pro – Florida Certified Adjuster Glossary/ 260 Questions with Answers Provided

Adjuster Exam 2: Questions With Correct Solutions

What coverage does Community Eligibility apply to? Correct Answer: Flood insurance through FEMA What's the difference between Emergency Program and Regular Program in the National Flood Insurance Program? Correct 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 regular program in a 1-4 Family Dwelling? Correct Answer: $250,00...

Consequential also known as Indirect Loss Correct 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 Correct 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. This amount applies to the total of damages for any bodily inj...

Law of Large Numbers Correct Answer: the more examples used to develop any statistic, the more reliable the statistic will be Underwriting Correct Answer: The process and insurance company uses to decide whether to except or reject an application for a policy insurance. underwriters evaluate the risk and exposure of a potential policyholders they decide how much coverage the policyholder should receive how much they should pay for it or whether even to except the risk and insure them. under...

Accident Correct Answer: Sudden, unexpected events that cause property damage or bodily injury. Actual Damages Correct Answer: Damages that have a specified cost to repair them Actual Total Loss Correct Answer: Complete destruction of insured property, so that nothing of value remains. ACV (Actual Cash Value) Correct Answer: This is the value of the property after depreciation. As ALE (Additional Living Expense) Correct Answer: If a homeowner is temporarily displaced from their ...

All of the following are exempted from the requirement of an adjuster's license examination except: A. Those persons holding CPCU designation; B. those persons adjusting workers compensation claims; C. Those persons who have received the Associate in Claims (AIC) designation; D. Those persons who have a certificate of completion showing that within the past 12 months the applicant has completed a certified adjuster prelicensing education program and passed the state examination. Correct Answer:...

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. - While investigating a claim, you determine that the loss was caused by a defective mechanism in the dishwasher. You would attempt to_________________________? Appraisal - What is the process when an insurer and an insured have a dispute regarding th...

In GA, _____insurance cannot be written by a reciprocal type insurer. - life No insurer or licensee doing business in Georgia may pay any commissions or valuable consideration to any person fo r services as an agent, subagent, or adjuster unless that person is duly licensed under the - Code Mediation is not _____ on the parties involved, but with arbitration the decision is final and _____. - Binding Standard and Poor's, A.M. Best and Moody's are examples of: - Independent Rating Services What...