ALABAMA INSURANCE ADJUSTER EXAM STUDY GUIDE WITH 129 QUESTIONS AND 100% VERIFIED ANSWERS LATEST UPDATE | RATED A+

ALABAMA INSURANCE ADJUSTER EXAM STUDY GUIDE WITH 129 QUESTIONS AND 100% VERIFIED ANSWERS LATEST UPDATE | RATED A+
An insurance adjuster's job is complicated, with several functions requiring technical ability, timemanagement, and thoroughness. What is the ultimate goal of this adjusting process? - CORRECT
ANSWERS An adjuster must make truthful and unbiased reports of the factsafter
making a complete investigation.
What is Salvage misappropriation? - CORRECT ANSWERS In the wake of a disaster or other
loss, an adjuster may come across valuable salvage material. This may become the property of the
insurer, as part of its recovery of losses, or it may be returned to the policyholder.In no case does it belong
to the adjuster. Adjusters must never misappropriate salvaged property for their own use or the use of
others.
Residual market insurance programs are funded by: - CORRECT ANSWERS Residual
Markets are state-run or state-subsidized programs that provide insurance coverage where private
insurers will not. Since they are designed to cover such high amounts of risk, they rely on the backing of
the government, which spreads the cost among all the insurers in the state. So, when a Residual Market
premium pool is overwhelmed, every insurer licensed in Alabama must pay a "penalty" in proportion to
the amount of similar policies they issue in the state. This means that large insurers will pay more into the
fund than smaller insurers. then private insurersare required to share their pool of premiums with the
state's Residual Markets, they can then pass these costs on to their policyholders.
Molly borrows her friend Dom's car so she can run to the grocery store. On the way home sherear-ends
a van, injuring the driver and 3 other passengers. Each of the passengers suffers
$45,000 in injuries, while the driver suffers $40,000. Assuming Dom has a liability policy with limits of
50/100/50, while Molly has 25/50/25 coverage, how much will the primary policy cover?
- CORRECT ANSWERS $100,000
Jason's auto policy states that if a premium is more than 30 days late, the insurer may cancel the policy.
However, Jason is currently more than 30 days late, and has been so five times in the last year, and his
insurer has done nothing about it. When Jason gets into an accident andfiles a claim, which of the
following is most likely to happen? - CORRECT ANSWERS Estoppel is a legal principle which
prevents a party from contradicting what had been established as the truth. This principle would
support a claim for damages for an insured who has a good-faith reliance on a misleading statement or
practice of an insurer.
In order to obtain coverage through the Alabama Automobile Insurance plan, you must: -
CORRECT ANSWERS have a valid Alabama driver's license.
The Alabama Automobile Insurance Plan (ALAIP) was created to help high-risk drivers obtain the bodily
injury and property damage liability insurance that state law requires. Applicants musthave been denied
coverage through the voluntary market before they are eligible for the Alabama Automobile Insurance
Plan. They must also have a valid Alabama driver's license anda vehicle that is registered in the state.
While Andrea was grocery shopping in BB Mart, the large Dairy sign fell off the wall and landed on her.
Because of her extensive injuries, Andrea sued BB Mart and was awarded $375,000 in damages. BB

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