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Claim Adjuster
Quiz 1
| Question | Answer |
|---|---|
| To be considered an insurance contract, a policy must be? | |
| A partial owner of a building cannot receive full value for the building in the event of a loss because of? | |
| When the insured transfers his/her rights to collect for damages to the insurer, it is known as? | Subrogation |
| Which of the following best describes a franchise deductible? | |
| Hurricane insurance in coastal areas in Florida is written subject to which of the following deductibles? | |
| The clause that prohibits the insured from dumping damaged property on the insurance company and demanding to be paid in full is? | The abandonment clause |
| When two or more policies apply to the same loss, the one that pays first is called? | |
| Insurance may apply separately to each insured, as if the other insureds did not exist. This is known as the doctrine of? | Severability |
| If an insurance policy is unclear or ambiguous, in whose favor does the policy respond? | |
| Which loss settlement provides new for old? | |
| The claims adjuster's role in the insurance industry includes all of the following EXCEPT? | The principle of proximate cause |
| Comparative negligence: | |
| ACV is defined as? | Replacement cost minus depreciation |
| The concept that one should not profit from the payment provided by an insurance policy is known as? | Indemnity |
Created by:
skylinemassage