FLORIDA CLAIMS ADJUSTER LATEST
EXAM 2023-2024/CLAIMS ADJUSTER
(FLORIDA) 270+ REAL EXAM QUESTION
AND CORRECTANSWERS|AGRADE
The following are basic characteristics of a property or
liabilityinsurance contract, except:
• Personal Contract
• Conditional Contract
• Loss of Settlement Contract
• Contract of Adhesion - ANSWER- Loss of Settlement Contract
The Insurer's responsibility to pay for a property loss may be
conditioned on the insured having used reasonable means to avoid the
loss, to protect the property against further loss, and to give the insurer
proof of the loss is defined as?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above - ANSWER- Conditional
Contract"may be conditioned"
If financial responsibility doesn't exist at the time of an accident,
whichof the following things must happen to avoid penalties?
A. The legally valid claims of others must be satisfied (up to 10/20/10)
B. The owner and operator must provide certification of future
responsibility for future accidents
,C. Both A & B
D. None of the Above - ANSWER- C. Both A & B
A lender has an insurable interest in a home and finds protection in
the:
A. Loss Payee Clause
B. Mortgagee Clause
C. Lender Clause
D. Additional Insured Clause - ANSWER- B. Mortgagee
ClauseMortgagee - Homeowner's policy
Loss Payee - Automobile policy
Which of the following forms is "all-risk" on the dwelling policy?
A. DP-1, or the Basic Form
• DP-2, or the Broad
• DP-3, or the Special Form
• None of the Above - ANSWER- C. DP-3, or the Special Form
Which of the following is not covered under Coverage C, Personal
Property?
• A fire breaks out in the residence and an overnight guest loses
hisclothes in the fire
• A fish dies because he has been left alone for a week without
food
• C. The insureds daughters tennis racket is stolen from her locker
D. The insureds suitcase and clothing, valued at $1,500, are stolen
from his hotel - ANSWER- B. A fish dies because he has been left
alone for aweek without food
Animals are listed as an "exclusion" under a Homeowner's policy.
,Which of the following are characteristics of Homeowner's
Insurance?
A. Protects against economic loss to residences and household
propertyand legal liabilities
B. Owner-occupants of 1-4 family dwellings
C. Renters who maintain residential occupancy in any type of building
D. All of the Above - ANSWER- D. All of the Above
Also included: personal, non-business risk, no more than 2
roomers/boarders, condominium unit owners and cooperative
apartmentoccupants
An insured who wishes to purchase flood insurance, but is located in a
moderate or low risk flood zone may do so by purchasing a:
A. Preferred Risk Flood
Policy
B. Standard Flood Policy
C. Universal Flood Insurance
D. None of the Above - ANSWER- A. Preferred Risk Flood Policy
Although Flood Insurance is provided by the Federal Government,
thosewho are not in a "flood zone" may purchase a preferred risk
policy to cover them for a flood claim.
Used only for Commercial Condominiums, it covers the unit-
owners business personal property and the personal property of
others in theinsured's care, custody or control:
• Condominium Dwelling Form
• Personal Condominium Unit Owners
Form
• C. Condominium Unit Owners Form
D. None of the Above - ANSWER- C. Condominium Unit Owners
FormDoes not cover buildings since coverage would typically be
provided under the Condo Association coverage form issued.
, The Commercial Property Contract includes all of the following,
except:
A. Common Policy Conditions
B. Commercial Property
Conditions
C. Coverage Form
D. Commercial Loss Schedule - ANSWER- Commercial Loss
ScheduleAlso included: Declarations, Causes of Loss Form,
Endorsements
Insures a condominium association against direct physical loss or
damage to buildings, business personal property and personal
property of others in the care, custody or control of the association
and located atthe premises:
A. Condominium Association
Form
B. Condominium Unit Owners
Form
C. Condominium Insured Owner Form
D. None of the Above - ANSWER- A. Condominium Association
FormThis, along with Condo Unit Owners Form, is located under
Condo Coverage.
Sometimes referred to as commercial fire and allied lines, this is the
form of insurance that covers direct and indirect losses related to
properties other than one-to-four family dwellings and farm properties:
A. Business Property Insurance
• Building Property Insurance
• Commercial Property Insurance
• None of the Above - ANSWER- C. Commercial Property
Insurance(the question is the definition for this term)
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