Content Preview

ADJUSTER PRO 1A – B EXAM 2025 QUESTIONS AND ANSWERS agreement - ....ANSWER ...-One of the 4 requirements of a legally binding contract. All parties involved must agree to the terms of the contract. Can also refer to a binder, which is the preliminary substance of a contract. aleatory - ....ANSWER ...-A characteristic of an insurance contract. Means " depending on unknown future event." An insurance contract will only pay IF and When covered damages occur. Neither party knows how much the contract will end up paying when they enter into the contract. competence - ....ANSWER ...-One of the 4 qualifications of a legally binding contract. All parties must be competent, with the necessary legal and mental capacity. Conditions - ....ANSWER ...-The section of a policy that qualifies or limits an insurer's promise to pay or perform. Consideration - ....ANSWER ...-One of the 4 qualifications of a legally binding contract. All parties must bring something of value to the contract. ....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1