Adjuster Pro - Florida Study, Continued
Practice Exam, Continued Continued
Practice Exam Questions And Answers
100% Correct!!!
- ANSWER✔✔ Subtract the deductible from covered damages to get
indemnification
- ANSWER✔✔ 6 unique characteristics of insurance policy
1 Contracts of adhesion (court ez win)
2 Utmost good faith
3 aleatory
4 personal
5 Unilateral (only insurer has obligation)
6 Conditional
- ANSWER✔✔ 1945 regulate insurance
Naic doesn't give benefits to comissioners
90 day to pay
hijacking only covered with endorsement - ANSWER✔✔
Franchise Deductible in marine insurance - ANSWER✔✔
,standard deductible 500 - ANSWER✔✔
Seaworthy cargo legal no deviation in voyage - ANSWER✔✔
insurer has 14 days to respond to claim - ANSWER✔✔
theft. by insider
not covered - ANSWER✔✔
paying ,% - ANSWER✔✔ coinsurance
policy premiums - ANSWER✔✔ not out of pocket
Estoppel - ANSWER✔✔ protects the insured party from an insured who initially
approves coverage but then later denies coverage after the insured pays for repairs
contributory negligence - ANSWER✔✔ if plaintiff is negligent den no settlement
insurance claim is - ANSWER✔✔ a formal requestto settle the damage
Non-waiver agreement is used for - ANSWER✔✔ when an independent adjuster is
investigating a claim in catastrophe situation
Public adjuster - ANSWER✔✔ represents insured not insurer
,law and ordinance - ANSWER✔✔ (a.k.a. Code Upgrade Coverage): covers the
repair or upgradecost when new building codes, laws, or ordinances go into effect
tort - ANSWER✔✔ any civil wrongdoing
federal employee compensation actually 11 - ANSWER✔✔ provides federal govt
insurance for civillian employees
what is coverage for cc fraud or forgery - ANSWER✔✔ 500$
FL sell auto insurance u need - ANSWER✔✔ Florida auto joint underwriting
assoy
1 actual cash value replacement cost minus depreciation
, 2replacement cost
3stated amount
4Agreed value
1 actual cash value replacement cost minus depreciation
2replacement cost
3stated amount
4Agreed value
1 actual cash value replacement cost minus depreciation
2replacement cost
3stated amount
4Agreed value
1 actual cash value replacement cost minus depreciation
2replacement cost
3stated amount
4Agreed value
- ANSWER✔✔ Valuation is
6 conditions of what can be insured - ANSWER✔✔ 1 adequate premiums
2 Definable
3 Unexpected
4 substantial losses
5 Exclusions
6 Law of large numbers
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