Florida Claims Adjuster Exam
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
make will
a payment
to:
A. The first mortgagee,
ABC
B. The
Insured
C. Jointly to ABC and
XYZ
D. All listed interests correct answers D. All listed
interests
Remember that the insurer is not responsible to know the degrees of
interest.
event Inloss,
of a the 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 correct answers 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. t
Abandonmen
C.
D. All of the above correct answers B.
Liberalization
Abandonment
A(n) is one wherein economic loss would be suffered from an
adverse
happening to the
subject:
A. Conditional
Contract
B. Personal
C. Economic
Contract
Contract
D. Insurable Interest correct answers 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
policy the the insured receives the benefit of such broadened
period,
coverage.
A. Cancellation
Clause
B. Policy
Period
C. Pro
Rata
D. Liberalization correct answers D.
Liberalization
,The time frame is typically 60
days.
The states that when there is an unbroken connection
between anand damage that grows out of the occurrence, then the resultant
occurrence
damage
all a partisof the
occurrence.
A. Doctrine of Proximate
Cause
B. Doctrine of Perils &
Hazards
C. Insurance Policy
Handbook
D. Doctrine of Property Insurance correct answers A. Doctrine of
Proximate
For example, Cause
if a property insurance policy covers the peril of fire but further
damageby
caused is smoke, water used to extinguish, and the process of moving
property
fire away - to be the *proximate cause* of all of the
is considered
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 correct answers A. Actual Cash
Value
A policy condition, either based on information in the insured's application or
inserted
the by is defined
insurer,
as:
A.
Warranty
B.
Misrepresentation
C.
Concealment
D. None of the Above correct answers A.
Warranty
The following are basic characteristics of a property or liability
insurance contract,
excep
t:
A. Personal
B. Conditional
Contract
Contract
C. Loss of Settlement
Contract
D. Contract of Adhesion correct answers 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
loss, andfurther
to give the insurer proof of the loss is
defined
A. as?
Conditional
Contract
B. Adhesion
Contract
C. Indemnity
Contract
D. All of the Above correct answers A. Conditional
Contract
"may be
conditioned"
Which of the following is not one of the "Thresholds" in the "No-
Fault"
A. law?
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 correct answers B.
Temporary
of the Injury
Insured
Also included: permanent injury other than scarring and
disfigurement
Under Mechanical Breakdown Coverage, new cars are eligible for
service
A. up to:
36 Months/36,000
Miles
B. 24 Months/36,000
Miles
C. 12,000 Months/12,000
Miles
D. 12 Months/36,000 Miles correct answers A. 36
Months/36,000
Used Miles
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
accident for future
s
C. Both A &
B
D. None of the Above correct answers C. Both
A&B
As to required proof for future accidents by purchase of auto liability
insurance,
insurer mustthemake 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 correct answers
B. 3
The Business Automobile Policy includes all of the following coverage
forms
A. Theexcept:
Garage Coverage
B. The Trailer Interchange Coverage
Form
Form
C. The Truckers Coverage
Form
D. The Business Auto Coverage Form correct answers B. The Trailer
Interchange
Coverage
Form
Personal Injury Protection, or PIP, has a per person, per accident
A.
limit.
10,000
B.
20,000
C.
1,000
D. Depends on the damaged property correct answers A.
10,000
Used to insure businesses engaged in selling, servicing, repairing, parking
or storing
automobile
s:
A. Servicing Coverage
Form
B. Garage Coverage
Form
C. Truckers Coverage
Form
, D. None of the Above correct answers B. Garage
Coverage Form
The following examples are referred to as liability limits:
25/50/25 or
10/20/1
0.
A.
Split
B.
Single
C.
Straight
D. None of the Above correct answers 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 he
can much
expect his PIP coverage to pay toward his medical bills that
total
A. $3,000?
$1,600
B.
$1,000
C.
$2,400
D. $3,000 correct answers A.
$1,600
3000 (bills) - 1000
(deductible)
2000 =
x .80 (eighty
percent)
Frank has a not-at-fault accident, he has basic PIP, no deductible and
Med payHow
$5,000. of much will his Med Pay contribute to medical bills of
$15,000?
A.
$15,000
B.
$5,000
C.
$3,000
D. $0, Frank is not-at-fault correct answers B.
$5,000
Medical Payment limits apply per person; Frank will receive full amount
towards medical
bills
.
Which of the following is not one of the rating factors for a
Homeowner's
A. Type of Policy?
Construction
B. Location of
Risk
C. Age & Gender of
D. Proximity to Fire Department correct answers C. Age & Gender of
Insured
Insured
On a Homeowner's Policy, covers items that are not permanently
attached to
dwelling. the
This is defined
as:
A. Other
Structures
B. Excess
C. Personal
Structures
Property
D. Dwelling correct answers A. Other
Structures
Examples include sheds, fences, pool houses, detached car
ports, etc.
