NY Adjuster Practice Exam 2025 Questions and Answers

NY Adjuster Practice Exam 2025 Questions and Answers

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NY Insurance Adjuster

Institution:
NY Insurance Adjuster

NY Adjuster Practice Exam 2025 Questions and Answers

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NY Adjuster Practice Exam 2025 Questions and Answers

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Uploaded on: September 13, 2025
Last updated: September 13, 2025
Number of pages:4
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NY Adjuster Practice Exam 2025 Questions and Answers Insurance - --Answer --An economic device used to protect against the risk of realizing unforeseen and extraordinary financial loss. Indemnification - --Answer Policyholder - --Answer --The transfer of risk from one party to another. --An individual or organization that pays premiums in exchange for financial protection. Legally binding contract - --Answer --A contract in which the insurance company agrees to pay for specified losses in exchange for premiums. Requirements of a legally binding contract - --Answer --Agreement, consideration, competent parties, legal purpose. Principle of Indemnity - --Answer --Designed to prevent an insured from making a profit. Insured - --Answer --An individual or organization that pays premiums in exchange for financial protection. ....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1