Question
click below
click below
Question
Normal Size Small Size show me how
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 |