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Florida 3-20 Public Adjusters State Exam (Set 1) 2024/2025 already graded A+ $12.99   Add to cart

Exam (elaborations)

Florida 3-20 Public Adjusters State Exam (Set 1) 2024/2025 already graded A+

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  • Course
  • Claims Adjuster
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  • Claims Adjuster

Florida 3-20 Public Adjusters State Exam (Set 1) 2024/2025 already graded A+

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  • February 23, 2024
  • 11
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • claims adjuster
  • Claims Adjuster
  • Claims Adjuster
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Ashley96
Florida 3-20 Public Adjusters State Exam
(Set 1)

The insurer and insured agree to a specific value of insured item - ANSAgreed Value Policies

Someone who has care, custody or control of another's property - ANSBailee

Claim filed by policy holder against his _ - ANSFirst Party Claim

When a person who entrusts another with an object and it results in injury to someone can be
held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI -
ANSNegligent Entrustment

Hazard that results from a conscious decision made by an insured to participate in a manner or
behavior more likely to result in a loss because they have insurance - ANSMoral Hazard

Used to provide temporary insurance coverage until an insurance policy can be written -
ANSBinder

Required by lenders to guarantee that outstanding loans against a job are paid upon completion
- ANSCompletion Bonds

The section of an insurance policy identifying the insured, endorsements, coverages, limits, and
premiums - ANSDeclarations

Policyholder cannot transfer the policy to someone else without written permission from their
insurance company - ANSAssignment

An instance, behavior or environment that increases the likelihood of a loss on an insured item -
ANSHazard

Actual cause or source of an incidence of destruction, injury, or loss - ANSPeril

An insurance company organized and domiciled outside the US - ANSAlien

When there is an unbroken chain of events between an occurrence and a loss, then the loss is
part of the original occurrence - ANSProximate Cause

Is proximate cause of all subsequent damages - ANSOriginal Occurance

, An individual who contracts with an adjusting firm as an independent contractor and handles
claims for the insurance companies - ANSIndependent Adjuster

Action or practice of the insured party is permitted to continue because any defense against a
continuation of said action or practice has been waived by the insurer - ANSEstoppel

Operate for profit, collect premiums, reserve a portion of premiums to pay claims -
ANSCommercial Insurers

Any person who investigates or adjusts losses on behalf of either an insurer or a self-insured -
ANSIndependent Adjuster

The result of an insured's tort or wrongdoing. Consequences of a loss or amount or type of
losses suffered - ANSDamages

Requires the insured to insure the named property for a specific amount of insurance as
required by the insurance company - ANSAgreed Value

Physical harm to tangible property caused by peril (loss to property or person in which a
covered peril is the proximate cause of damage or destruction) - ANSDirect loss

The entity that is the "recipient" to the Principal - ANSObligee

Insurance contracts are written on a take it or leave it basis to the policy owner. - ANSAdhesion

Event or circumstance that causes damage - ANSOccurance

Coverage provides for payment of losses if civil authority denies access to the insured premises
due to a covered peril - ANSCivil Authority

Voluntary relinquishment of a known legal right - ANSWaiver

An insurer domiciled outside the state where it writes insurance - ANSForeign

A state officer who administers the state's insurance laws and regulations - ANSCommissioner

Used as a promise to accept a bid if awarded to a company - ANSBid bond

Damaged property an insurer takes over to reduce their loss after paying a claim - ANSSalvage

Factual statements upon which an insurance policy is based - ANSRepresentations

A contract between two parties that offer the consumer little to no leeway to negotiate the terms
of the contract - ANSContract of adhesion

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