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Florida Claims Adjuster bundled Exams 2023 with correct solutions
Florida Claims Adjuster Exam 2023 with correct answers
[Show more]Florida Claims Adjuster Exam 2023 with correct answers
[Show more]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 inte...
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Add to cartFrank 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 inte...
Insurance applies separately to each insured as if other insureds did not exist. 
Severability 
 
 
 
Property insurance policies usually contain a(n) __________ clause, stating the insured cannot dump damaged property on the insurer and demand its full value. 
Abandonment 
 
 
 
One wherein economi...
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Add to cartInsurance applies separately to each insured as if other insureds did not exist. 
Severability 
 
 
 
Property insurance policies usually contain a(n) __________ clause, stating the insured cannot dump damaged property on the insurer and demand its full value. 
Abandonment 
 
 
 
One wherein economi...
Peril 
Somthing t√dhat causes a loss. 
 
 
 
Hazard 
Something that increases the probability that a loss will occur. 
 
 
 
Warranty 
A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. 
 
 
 
Misrepresentation 
An u...
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Add to cartPeril 
Somthing t√dhat causes a loss. 
 
 
 
Hazard 
Something that increases the probability that a loss will occur. 
 
 
 
Warranty 
A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. 
 
 
 
Misrepresentation 
An u...
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 
Loss of Settlement Contract 
 
 
 
The Insurer's responsibility to pay for a property loss may be c...
Preview 2 out of 13 pages
Add to cartThe 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 
Loss of Settlement Contract 
 
 
 
The Insurer's responsibility to pay for a property loss may be c...
This optional provision states that if the insured becomes totally disabled, premiums are waived but the coverage remains in force: 
 
A. Waiver of Subrogation 
B. Waiver of Premium 
C. Waiver of Value 
D. None of the Above 
B. Waiver of Premium 
 
"premiums are waived" 
 
 
 
Frank owned a home t...
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Add to cartThis optional provision states that if the insured becomes totally disabled, premiums are waived but the coverage remains in force: 
 
A. Waiver of Subrogation 
B. Waiver of Premium 
C. Waiver of Value 
D. None of the Above 
B. Waiver of Premium 
 
"premiums are waived" 
 
 
 
Frank owned a home t...
Frank owned a home that was destroyed by a hurricane. Both TD Bank and Bank of America were listed as additional interests on his homeowner policy. The insurance company will make a payment to: 
A. The first mortgagee, TD Bank 
B. The Insured 
C. Jointly to TD Bank and Bank of America 
D. All listed...
Preview 3 out of 28 pages
Add to cartFrank owned a home that was destroyed by a hurricane. Both TD Bank and Bank of America were listed as additional interests on his homeowner policy. The insurance company will make a payment to: 
A. The first mortgagee, TD Bank 
B. The Insured 
C. Jointly to TD Bank and Bank of America 
D. All listed...
Which of the following is NOT one of the duties of the Department of Financial Services? 
b. Dept does NOT set rates nor write policies 
Set rates and write policies for various company products 
 
 
 
The adjuster has a particular relationship to his principal, the insurer. Which of the following b...
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Add to cartWhich of the following is NOT one of the duties of the Department of Financial Services? 
b. Dept does NOT set rates nor write policies 
Set rates and write policies for various company products 
 
 
 
The adjuster has a particular relationship to his principal, the insurer. Which of the following b...
A public adjuster represents the interest of: 
A. The insurer 
B. The Insured 
C. The employer 
D. The interest of the general public 
B. The insured 
 
 
 
Which of the following is the type of report that indicates the initial results of a claim investigation? 
A. Field Report 
B. Interim Report 
...
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Add to cartA public adjuster represents the interest of: 
A. The insurer 
B. The Insured 
C. The employer 
D. The interest of the general public 
B. The insured 
 
 
 
Which of the following is the type of report that indicates the initial results of a claim investigation? 
A. Field Report 
B. Interim Report 
...
Florida No-Fault Tort Exemption 
Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 
 
 
 
4 Exceptions to Tort Exemption(Threshold of No-Fault) 
1. Significant and Permanent loss of bodily function. 
2.Permanent injury other than scarring and disfi...
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Add to cartFlorida No-Fault Tort Exemption 
Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 
 
 
 
4 Exceptions to Tort Exemption(Threshold of No-Fault) 
1. Significant and Permanent loss of bodily function. 
2.Permanent injury other than scarring and disfi...
The insurer and insured agree to a specific value of insured item 
Agreed Value Policies 
 
 
 
Someone who has care, custody or control of another's property 
Bailee 
 
 
 
Claim filed by policy holder against his _ 
First Party Claim 
 
 
 
When a person who entrusts another with an object and it...
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Add to cartThe insurer and insured agree to a specific value of insured item 
Agreed Value Policies 
 
 
 
Someone who has care, custody or control of another's property 
Bailee 
 
 
 
Claim filed by policy holder against his _ 
First Party Claim 
 
 
 
When a person who entrusts another with an object and it...
The policy period is found in what part of an insurance contract? 
Declarations 
 
 
 
Insurance policies are said to be contracts of... 
Adhesion 
 
 
 
The failure to exercise due care is known as 
Negligence 
 
 
 
A building is destroyed by flood. The loss of profits from renting the building is...
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Add to cartThe policy period is found in what part of an insurance contract? 
Declarations 
 
 
 
Insurance policies are said to be contracts of... 
Adhesion 
 
 
 
The failure to exercise due care is known as 
Negligence 
 
 
 
A building is destroyed by flood. The loss of profits from renting the building is...
Which of the following is NOT one of the four critical elements of a contract? 
 
(A) A mutual understanding and agreement with the terms of the contract. 
 
(B) Written evidence of the agreement and its terms. 
 
(C)A legal purpose. 
 
(D)Consideration, consisting of money or a promise of performan...
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Add to cartWhich of the following is NOT one of the four critical elements of a contract? 
 
(A) A mutual understanding and agreement with the terms of the contract. 
 
(B) Written evidence of the agreement and its terms. 
 
(C)A legal purpose. 
 
(D)Consideration, consisting of money or a promise of performan...
A claim in the property/casualty industry Is defined as: 
an assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damages 
 
 
 
when you purchase insurance, you are buying: 
peace of mind that if an ...
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Add to cartA claim in the property/casualty industry Is defined as: 
an assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damages 
 
 
 
when you purchase insurance, you are buying: 
peace of mind that if an ...
What is an eligible building for flood insurance? 
A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community 
 
 
 
What is Builders Risk Coverage? 
Covers buildings in ...
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Add to cartWhat is an eligible building for flood insurance? 
A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community 
 
 
 
What is Builders Risk Coverage? 
Covers buildings in ...
An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of 
The insured and insurer 
 
 
 
An insurer gives which of the following as Consideration for an insurance policy? 
A Promise 
 
 
 
The interest of the insured and all other persons in the property involved in a cla...
Preview 3 out of 16 pages
Add to cartAn adjuster is a fiduciary agent with a responsibility of loyalty to the interest of 
The insured and insurer 
 
 
 
An insurer gives which of the following as Consideration for an insurance policy? 
A Promise 
 
 
 
The interest of the insured and all other persons in the property involved in a cla...
The Adjuster's Code of Ethics starts with a basic premise which states: 
The work of adjusting engages the public trust 
 
 
 
Once an adjuster is licensed he or she must maintain a continuing education requirement. Select from the following an adjuster's compliance requirement in order to stay li...
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Add to cartThe Adjuster's Code of Ethics starts with a basic premise which states: 
The work of adjusting engages the public trust 
 
 
 
Once an adjuster is licensed he or she must maintain a continuing education requirement. Select from the following an adjuster's compliance requirement in order to stay li...
Insurance 
transfer of risk by contract to insurers who agree to indemnify insureds for losses 
 
 
 
Risk 
chance of loss 
 
 
 
pure risk 
only outcomes are loss or no loss 
 
 
 
personal risk 
premature death, insufficient income, poor health, unemployment 
 
 
 
property risk 
loss of real prop...
Preview 2 out of 11 pages
Add to cartInsurance 
transfer of risk by contract to insurers who agree to indemnify insureds for losses 
 
 
 
Risk 
chance of loss 
 
 
 
pure risk 
only outcomes are loss or no loss 
 
 
 
personal risk 
premature death, insufficient income, poor health, unemployment 
 
 
 
property risk 
loss of real prop...
What is the primary difference between a staff adjuster and an independent adjuster? 
A staff adjuster works for an insurance company and an independent adjuster works independently for themselves or for adjusting firms who represent many clients. 
 
 
 
A couple has insured their home for $150,000....
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Add to cartWhat is the primary difference between a staff adjuster and an independent adjuster? 
A staff adjuster works for an insurance company and an independent adjuster works independently for themselves or for adjusting firms who represent many clients. 
 
 
 
A couple has insured their home for $150,000....
The following are basic characteristics of a property or liability insurance contract, EXCEPT: 
 
A. Personal Contract 
B. Conditional Contract 
C. Loss Settlement Contract 
D. Contract of Adhesion 
C. Loss Settlement Contract 
 
 
 
The Insurers responsibility to pay for a property loss may be cond...
Preview 4 out of 41 pages
Add to cartThe following are basic characteristics of a property or liability insurance contract, EXCEPT: 
 
A. Personal Contract 
B. Conditional Contract 
C. Loss Settlement Contract 
D. Contract of Adhesion 
C. Loss Settlement Contract 
 
 
 
The Insurers responsibility to pay for a property loss may be cond...
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