Tx Adjuster Test Study Guide Questions And Correct Answers

Material Misrepresentation {Ans: __________________________________________________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.}Dwelling, Contents, Debris Removal and ICC (Increased Cost of Compliance) {Ans: What are the 4 sections of the Flood Policy?}80% of the Replacement Cost {Ans: In order for a building to apply for Replacement Cost, it must be at least be insured for_______________________?}Liability {Ans: What is the responsibility to another for one's negligence?}Loss Payee {Ans: The party to whom money or insurance proceeds is to be paid in the event of loss, such as the lien holder on an automobile or the mortgagee on real property}Additional Living Expenses {Ans: Extra charges covered by homeowner's policies over and above the policyholder's customary living expenses due to damage by a covered peril that makes the home temporarily uninhabitable.}