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Texas Adjuster Study Guide EXAM ALL QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+ (BRAND NEW!!

Texas Adjuster Study Guide EXAM ALL QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+ (BRAND NEW!!

Texas Adjuster Study Guide EXAM ALL
QUESTIONS AND CORRECT DETAILED ANSWERS
|ALREADY GRADED A+ (BRAND NEW!!
PERILS - CORRECT ANSWER A CAUSE OF
PROPERTY LOSSES UNDER AN INSURANCE
CONTRACT EX: WINDSTORM, HURRICANE,
EXPLOSION, COLLAPSE OF BUILDING, VANDALISM,
ACCIDENTAL DISCHARGE, AND THEFT
LAW OF LARGE NUMBERS - CORRECT ANSWER A
FUNDAMENTAL CONCEPT IN STATISTICS AND
PROBABILITY THAT DESCRIBES HOW THE
AVERAGE OF A RANDOMLY SELECTED LARGE
SAMPLE FROM A POPULATION. IT BASICALLY
RELIES ON THE PRINCIPLE THAT THE LARGER THE
POOL, THE MORE PREDICTABLE THE AMOUNT OF
LOSSES WILL BE IN A GIVEN PERIOD
PRINCIPLE OF INDEMNITY - CORRECT ANSWER IS
AN INSURANCE PRINCIPLE STATING THAT AN
INSURED MAY NOT BE COMPENSATED BY
INSURANCE COMPANY IN AN AMOUNT EXCEEDING
THE INSURED'S ECONOMIC LOSS.
LIMITS OF LIABILITY - CORRECT ANSWER THE
MAXIMUM AMOUNT THAT AN INSURANCE POLICY
WILL PAY. IT IS SPECIFIED ON THE POLICY
DECLARATION PAGE.

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