Florida Adjuster Licensing Practice Exam Questions [100% Correct]
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Course
Florida adjuster course
Institution
Florida Adjuster Course
Florida Adjuster Licensing Practice
Exam Questions [100% Correct]
A claim in the property/casualty industry Is defined as: *Ans*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 damage...
Florida Adjuster Licensing Practice
Exam Questions [100% Correct]
A claim in the property/casualty industry Is defined as: *Ans*✨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
A couple had Coverage A limits of $250K on their home located in FL. A tornado spawned by Hurricane
Ernesto damaged their roof resulting in estimated repair costs of $11,500. The adjuster deducted the FL
hurricane deductible of $5,000 from the estimate and paid them $6,500 in settlement of their property
claim. This is known as the application of: *Ans*✨a percentage deductible (hurricane deductible)
a couple has insured their home for $150,000. a fire ensues and guts their home, resulting in a total loss.
An appraisal of the home prior to loss results in a value of $120,000, yet the adjuster is required by law
to pay the couple $150,000. This is known as the application of: *Ans*✨valued policy law
A restaurant was damaged after a grease fire erupted in the kitchen. Damage to the structure totaled
$78,300. The owner's commercial property policy provided Coverage A limits of $250,000 with a
deductible of $1,000. How much would the policyholder be paid? *Ans*✨$$77,300
an adjuster's responsibility as a fiduciary means: *Ans*✨the adjuster represents, and controls, the
property and financial interests of the client to whom he/she owes a high degree of loyalty and good
faith
an insurance policy is often referred to as a contract of adhesion which means: *Ans*✨if any of the
wording or language in the policy is vague or ambiguous, making it difficult to understand or interpret,
the law is well settled that the interpretation shall be in favor of the party who did not control its terms
(the policyholder)
Assume that 5 years ago a couple insured their home for its then appraised value of $60,000. 2 weeks
ago they had a stove fire resulting in an estimated loss of $15,000. The adjuster finds that the value of
their home is now $100,000 but the home is still only insured for $60K and there is a deductible of $500.
The policy has an 80% coinsurance clause. How much should the adjuster pay to the couple?
*Ans*✨($15,000-$500)($60,000/$100,000(.80))= $10,875
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