Texas All-Lines Adjuster Course Final Exam With Correct Answers

In today's society, the most important factor in the purchase of insurance is: {Ans: Trust}What is the residual market choice for consumers unable to secure residential property coverage in the voluntary insurance market? {Ans: Texas Windstorm Association}Texas Homeowners Policy Forms {Ans: HO-A HO-1 HO-A+ HO-2 HO-B HO-3 HO-C HO-5}The process by which an insurance company collects money from an at-fault party or that party's insurance in order to recover funds that have been paid out on behalf of their insured is called: {Ans: Subrogation}One who guarantees the performance or payment of one party who is obligated by contract to another is called a: {Ans: surety}A company's legal liability could be affected by all EXCEPT which one of the following laws? {Ans: a. Valued Policy Law b. Workers' Compensation c. statute of Limitations}Which of the following is not a hazard? {Ans: a. A homeowner stores old cans of paint, gasoline and oily rags in one corner of his garage. b. A massive ice storm is moving off the Great Lakes and quickly approaching the northeastern states of Maine, Vermont and New Hampshire. c. A business owner doesn't make daily deposits in the bank and