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ADJUSTERPRO FINAL EXAM LATEST
QUESTIONS AND VERIFIED ANSWERS BY
EXPERT 100% GUARANTEED PASS LATEST
UPDATED & VERIFIED **1. Which of the following is found in the declarations page of an insurance policy?**
- Implied ANSWER: The name of the insured party
- Verification: Correct. The declarations page includes key
details like the insured’s name, policy number, coverage limits, and effective dates.
- ANSWER: The name of the insured party
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**2. Which of the following best defines the principle of indemnity?**
- Implied ANSWER: After a loss, the insured should be restored
to his approximate financial condition before the loss
- Verification: Correct. The principle of indemnity aims to
restore the insured to their pre-loss financial state, not to profit.
- ANSWER: After a loss, the insured should be restored to his
approximate financial condition before the loss
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**3. What is a reserve, in insurance terms?**
- Implied ANSWER: A pool of collected premiums that the
insurer sets aside to pay claims
- Verification: Correct. Reserves are funds set aside by insurers
to cover future claims.
- ANSWER: A pool of collected premiums that the insurer sets
aside to pay claims
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**4. Insurance policies are unilateral contracts. This means:**
- Implied ANSWER: Only one party has an obligation to
perform
- Verification: Correct. In a unilateral contract, only the insurer
is legally obligated to perform (pay claims) if conditions are met.
- ANSWER: Only one party has an obligation to perform
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**5. All of the following pieces of information can be found in
the Conditions section of an insurance policy, EXCEPT:**
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- Implied ANSWER: Causes of loss that are not covered
- Verification: Correct. Exclusions (causes of loss not covered)
are found in the Exclusions section, not Conditions, which outlines duties and rules.
- ANSWER: Causes of loss that are not covered
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**6. Which section of an insurance policy is designed to OMIT certain risks from coverage?**
- Implied ANSWER: Exclusions
- Verification: Correct. The Exclusions section lists risks not
covered by the policy.
- ANSWER: Exclusions
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**7. In which section of an insurance policy might you find the following statement? "Damage to insured property must be reported within 15 days of the damaging occurrence."**
- Implied ANSWER: Conditions
- Verification: Correct. Reporting requirements are typically in
the Conditions section, outlining insured duties.
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- ANSWER: Conditions
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**8. If an adjuster needs to find clarification about what actually constitutes a collision, in which section of an insurance policy would she find that information?**
- Implied ANSWER: Definitions
- Verification: Correct. The Definitions section clarifies terms
like “collision.”
- ANSWER: Definitions
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**9. Which of the following is NOT a characteristic of insurance contracts?**
- Implied ANSWER: Universal
- Verification: Correct. Insurance contracts are not “universal”;
they are specific to parties and risks, and terms like unilateral, aleatory, and adhesion apply instead.
- ANSWER: Universal
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