Business > EXAM > Texas Adjuster All-Lines License Q-Bank (+280Q) All with correct Answers 2023 (All)

Texas Adjuster All-Lines License Q-Bank (+280Q) All with correct Answers 2023

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Texas Adjuster All-Lines License Q-Bank (+280Q) All with correct Answers 2023 County Mutual Insurance Company is attempting to make Maytag reimburse them for water damages that were caused by a defec... tive valve on their refrigerator. This process is known as ___________? {{Correct Ans- Subrogation What is the property insurance provision for when an insurer and an insured have a dispute regarding the amount of damage on a claim? {{Correct Ans- Appraisal clause ___________ is a significant misstatement in an application form. If a company had access to the correct information at the time of application, the company might not have agreed to accept the application {{Correct Ans- Material misrepresentation As an adjuster, you should base depreciation on these three factors? {{Correct Ans- Age, condition, and life expectancy A ___________ is a person hired by the consumer/property owner to settle the claim with the insurance company on their behalf. {{Correct Ans- Public adjuster ___________ are extra charges covered by homeowner's policies over and above the policyholder's normal living expenses. {{Correct Ans- Additional living expenses Insured lives in Dallas and has a Homeowner's Policy. Insured had a fire at their home and cannot live in the home for 1 month while repairs are being made. Insured has to stay in a hotel for 1 month. The insured's mortgage is $1,200/month. The cost of the hotel is $800/month. How much are you going to pay the insured for Additional Living Expenses (ALE)? {{Correct Ans- $800 ___________ is an event that results in an insured loss/damages. {{Correct Ans- Occurence What is the value of your property, based on the current cost to replace it, minus depreciation? {{Correct Ans- Actual cash value Expenses that have already been sustained and that have not yet been paid are known as ___________? {{Correct Ans- Incurred expenses [Show More]

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