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Florida Claims Adjuster Exam
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Florida Claims Adjuster Exam
[Meer zien]Voorbeeld 4 van de 59 pagina's
Voorbeeld 4 van de 59 pagina's
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Voorbeeld van de inhoud
Florida Claims Adjuster Exam1.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
is up to the additional interests on working out their share.
2.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
3.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
,4.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
5.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.
6.The states that when there is an unbroken connection
between an occurrence and damage that grows out of the occurrence, then
the resul- tant 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.
7.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
8.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
9.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
10.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"
11. 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
12.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
13.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
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