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Florida Claims Adjuster Exam Latest Updates2024/2025
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Florida Claims Adjuster Exam Latest Updates 2024/2025
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Florida Claims Adjuster ExamLatest Updates 2024
Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ
Banks were listed as additional interests on his homeowner policy. The
insurance company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests - D. All listed interests
Remember that the insurer is not responsible to know the degrees of
interest. In the event of a loss, one payment is made by the insurer and it is
up to the additional interests on working out their share.
Insurance applies separately to each insured as if other insureds did not
exist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above - A. Severability
Property insurance policies usually contain a(n) clause, stating the
insured cannot dump damaged property on the insurer and demand its full
value:
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above -B. Abandonment
A(n) is one wherein economic loss would be suffered from an
adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest -D. Insurable Interest
States that if the insurer adopts a revision which would broaden coverage
without additional premium within some period of time prior to the policy
period or during the policy period, the insured receives the benefit of such
broadened coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization - D.
Liberalization The time frame is
typically 60 days.
The states that when there is an unbroken connection between
an occurrence and damage that grows out of the occurrence, then the
resultant damage is all a part of the occurrence.
,A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance - A. Doctrine of Proximate Cause
For example, if a property insurance policy covers the peril of fire but
further damage is caused by smoke, water used to extinguish, and the
process of moving property away - fire is considered to be the *proximate
cause* of all of the damage.
The Loss Settlement Valuation that subtracts an allowance for depreciation
is defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above -A. Actual Cash Value
A policy condition, either based on information in the insured's application or
inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above -A. Warranty
The following are basic characteristics of a property or liability insurance
contract, except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion - C. 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 - A. Conditional
Contract "may be conditioned"
Which of the following is not one of the "Thresholds" in the "No-Fault" law?
A. Death of the Insured
B. Temporary Injury of the Insured
C. A permanent loss of a bodily function
D. Permanent scarring on the face of the insured - B. Temporary Injury of
the Insured Also included: permanent injury other than scarring and
disfigurement
Under Mechanical Breakdown Coverage, new cars are eligible for service up
to:
A. 36 Months/36,000 Miles
B. 24 Months/36,000 Miles
C. 12,000 Months/12,000 Miles
D. 12 Months/36,000 Miles - A. 36 Months/36,000
Miles Used vehicles: 12 Months/12,000 Miles
, If financial responsibility doesn't exist at the time of an accident, which of
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 -C. Both A & B
As to required proof for future accidents by purchase of auto liability
insurance, the insurer must make a filing (Form SR-22) certifying that
coverage is in effect, and this certification must remain on file for
years:
A. 1
B. 3
C. 4
D. 2 - B. 3
The Business Automobile Policy includes all of the following coverage forms
except:
A. The Garage Coverage Form
B. The Trailer Interchange Coverage Form
C. The Truckers Coverage Form
D. The Business Auto Coverage Form - B. The Trailer Interchange
Coverage Form Personal Injury Protection, or PIP, has a per
person, per accident limit.
A. 10,000
B. 20,000
C. 1,000
D. Depends on the damaged property - A. 10,000
Used to insure businesses engaged in selling, servicing, repairing, parking or
storing automobiles:
A. Servicing Coverage Form
B. Garage Coverage Form
C. Truckers Coverage Form
D. None of the Above -B. Garage Coverage Form
The following examples are referred to as liability limits:
25/50/25 or 10/20/10.
A. Split
B. Single
C. Straight
D. None of the Above -A.
Split 10/20/10 =
10,000 per person injured
20,000 all injuries combined
10,000 property damage
Example of straight liability limit = $30,000
Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible,
how much can he expect his PIP coverage to pay toward his medical bills
that total $3,000?
A. $1,600
B. $1,000
C. $2,400
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