Exam (elaborations)
Florida Claims Adjuster Exam
- Course
- Institution
Florida Claims Adjuster Exam
[Show more]
Seller
Follow
learnsphere
Content preview
FLORIDA CLAIMS ADJUSTER EXAMQUESTIONS & ANSWERS WITH
VERIFIED SOLUTION
xFrank 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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller learnsphere. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.27. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
84866 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now