Florida Claims Adjuster Exam 2024
Questions With Correct Answers ||
91 Pages
A General Lines Agent instructs a licensed Customer
Representative 4-40 to thoroughly cover the details of a new life
insurance product with every Homeowner customer who calls or
visits the office. The agent p...
A General Lines Agent instructs a licensed Customer
Representative 4-40 to thoroughly cover the details of a new life
insurance product with every Homeowner customer who calls or
visits the office. The agent provides training on the new product.
Although the Customer Representative does not have a Life
License, he or she feels comfortable with the training and does as
requested.
Which of the following is true?
A. This practice is acceptable if done in the office under
supervision of General Lines Agent
B. This practice is acceptable because adequate training and
product knowledge was provided
C. This practice is unacceptable and may result in the suspension
or revocation of the Customer Representative's license
D. This practice is only acceptable if the product training was
certified by the Life Insurance Company - ANSWER ✔ C. This
practice is unacceptable and may result in the suspension or
revocation of the Customer Representative's license
,Unlike a Customer Representative, a General Lines Claim
Adjuster need not be appointed with the Department of Financial
Services.
A. True
B. False - ANSWER ✔ B. False
While selling an Automobile policy to a customer, an agent tells
them that they are also required to purchase an Emergency Road
Service Plan, even though that is not true. This is an example of: -
ANSWER ✔ Sliding
A licensed General Lines Claim Adjuster is required to complete
how many hours of continuing education every two years? -
ANSWER ✔ 24
Once a Customer Representative 4-40 has been licensed and
appointed for at least 3 years, he or she may transact insurance
in the home of an existing customer.
A. True
B. False - ANSWER ✔ B. False
After pleading guilty or no contest to a felony, a licensed
individual has _________ days to inform the Department? -
ANSWER ✔ 30
Must be licensed, appointed by a General Lines Agent and can
transact AUTO insurance only in the Office Only. - ANSWER ✔
Limited Customer Representative 4-42
Defaming a competitor company or agent is not only
unprofessional, it can also result in a license suspension.
,A. True
B. False - ANSWER ✔ A. True
A General Lines Claim Adjuster is required to obtain the same
number of Continuing Education hours as a licensed Customer
Service Representative.
A. True
B. False - ANSWER ✔ B. False
An Insurance Company which is formed under the laws of the
State of Illinois, and has its Home Office there, is considered a: -
ANSWER ✔ Foreign Company
Domestic: this state (FL)
Foreign: other state (still in US)
Alien: elsewhere
One who is involved in the investigation, adjustment, negotiation
and/or trial preparations of claims arising under insurance policies
is defined as: - ANSWER ✔ Claims Adjuster
Establishing a dollar value on a claim is defined as: - ANSWER
✔ Evaluation
For bodily injury and uninsured motorist claims, a settlement
range will be set rather than a single dollar amount
Damaged property that may be retrieved, reconditioned and sold
to reduce an insured loss is defined as: - ANSWER ✔ Salvage
Efficient disposal of salvage reduces amount of loss to either
insured or insurer
, The voluntary or intentional relinquishment of a known right is
defined as a(n): - ANSWER ✔ Waiver
The law recognizes two types: express and implied.
The principle of utmost good faith on which an insurance contract
is based places serious responsibilities on the claims adjuster in
regards to:
A. Conduct
B. Work Habits
C. Claim Handling Activites
D. All of the Above - ANSWER ✔ D. All of the Above
The adjusters basic activities in claims handling are:
A. Investigation
B. Evaluation
C. Negotiation
D. All of the Above - ANSWER ✔ D. All of the Above
Investigation - establish coverage, determine liability, verify
damages qualify
Evaluation - determine fair payment in accordance with contract
and law
Negotiation - settlement based on facts discovered during
evaluation
Under the Florida Unfair Insurance Trade Practices Act, penalties
are provided for misrepresentation of business practices, which
include all of the following except:
A. Failing to act promptly
B. Failure to explain claim denials in writing
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