FL Adjusters License
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 performance.
correct
(B) answers
Written evidence of the agreement and its
terms.
Assume that five years ago a couple insured their home for [its then
appraisedTwo
$60,000. value of] ago they had a stove fire resulting in an estimated loss
weeks
of $15,000
for repairs. The adjuster finds that the value of their home is now
$100,000,
home but
is still theinsured for $60,000 and has a deductible of $500. The
only
policycoinsurance
80% has an clause. How much should the adjuster pay to the
couple?
(A)
$11,500
(B)
$10,875
(C)
$14,500
(D) $15,000 correct answers (B)
$10,875
Negligence is described
as:
(A)Liability imposed by jury
verdict.
(B) Liability arising from statutorily imposed liability
regardless of fault.
(C) Fault that arises from doing something you shouldn't have done, or
not doing you should have
something
done.
(D) Fault imposed on you because you have a greater ability to pay.
correct
(C) Faultanswers
that arises from doing something you shouldn't have done, or
not doing you should have
something
done.
Describe the coverage's provided in a split limit policy of
10/20/10.
,(A) The coverage provides $10,000 in property damage limits, $20,000 in
bodily
for anyinjury
one individual, and $10,000 for bodily injuries to each additional
person injured.
(B) The coverage provides $10,000 for bodily injury to one individual,
$20,000 for
property damage, and $10,000 for bodily injuries to each additional
person injured.
(C) The coverage provides up to $10,000 of liability protection for bodily
injury
one to any an aggregate of $20,000 for all bodily injuries regardless of
individual,
how many and $10,000 for medical payments coverage for the insured's
individuals,
bodily injury.
(D) The coverage provides up to $10,000 of liability protection for bodily
injury
one to any an aggregate of $20,000 for all bodily injuries regardless of
individual,
how many and $10,000 for property damage. correct answers (D) The
individuals,
coverage
provides up to $10,000 of liability protection for bodily injury to any one
individual, of
aggregate an$20,000 for all bodily injuries regardless of how many
individuals,
$10,000 for and
property
damage.
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 yet the adjuster is required by law to pay the couple $150,000.
$120,000,
This
as theis application
known
of:
(A)The valued policy
law.
(B) Payment of policy limits plus a penalty for over-insuring
the home.
(C) Replacement cost
value
(D) Actual cash value correct answers (A)The valued
policy law.
Which of the following would not be a preferred claims practice or
behavior Unfair
Florida's under Insurance Trade Practices
Act?
(A) Not responding to an insured's calls because you haven't made up your
mind yet.
(B) Sending a letter to a claimant explaining why you can't pay their claim,
or offering a based on specific facts and legal
compromise
issues.
(C) Contacting a witness the day after receiving the claim and getting
additional
about the facts
accident.
(D) Contacting an insured or claimant immediately upon receipt of a claim
for property
damage or bodily injury. correct answers (A) Not responding to an
insured'syou
because callshaven't made up your
mind yet.
The doctrine of proximate cause is
defined as:
,(A) The proximity of a loss to an insured
location.
(B) The physical link between one insured loss and
another.
(C) The primary reason for an event or
accident.
(D) If there is an unbroken chain of events, or series of consequences,
flowing from the
initial loss caused by the insured peril to a subsequent loss, the insured
peril causing
the initial loss will be considered the "proximate cause" of the subsequent
loss. correct
answers (D) If there is an unbroken chain of events, or series of
consequences, flowing
Once
from thean adjuster is caused
initial loss licensed,
byhe
theorinsured
she must maintain
peril a continuing
to a subsequent loss, the
education
requirement.
insured peril Select from the following an adjuster's compliance requirement
in order
stay to
causing the initial loss will be considered the "proximate cause" of the
licensed:
subsequent loss.
(A) A newly licensed adjuster must complete 24 hours of continuing
education
two in every period, of which 5 hours must be taken in a properly
year compliance
certified
Hour Law5& Ethics Update
course.
(B) An adjuster has to complete 28 hours of continuing education in
every two year
compliance requirement in the following categories: 12 Law, 2 Ethics and
14 Optional.
(C) An adjuster must complete 30 hours of continuing education on Florida
law every
two years immediately following
licensure.
(D) Only independent adjusters are required to take continuing education.
Adjusters
who work for insurance companies do not. correct answers (A) A newly
adjuster must complete 24 hours of continuing education in every two year
licensed
compliance
period, of which 5 hours must be taken in a properly certified 5 Hour
Law & Ethics
Update
course.
Which of the following is NOT an example of "compensatory
damages":
(A) Wages lost by the injured party due to inability to work because of
injuries
in an sustained
accident.
(B)Pain and
suffering
(C) Medical bills for treatment of injuries sustained in an
accident.
(D) A jury verdict of $1,000,000 against the defendant to punish
them for their actions in causing the loss. correct answers (D) A jury
reprehensible
verdict of
, $1,000,000 against the defendant to punish them for their
reprehensible
causing the actions in
loss.
The basic and primary functions of an
adjuster are:
(A) Processing and filing
mail.
(B) Filing special forms for the insurance company and
regulatory bodies.
(C) Investigating, managing, evaluating, reporting on, and negotiating and
disposing of
claims
.
(D) Making payments and recording claim status claims for property
damage,damages,
repairs, vehicle medical bills, wage loss and compensation. correct
answers (C) managing, evaluating, reporting on, and negotiating and
Investigating,
disposing of
claims
.
The Adjuster's Code of Ethics starts with a basic premise
which states:
(A) The work of adjusting engages the
public trust.
(B) Not attempting in good faith to settle claims when it could and should
have subject
may done soan adjuster to direct liability for bad faith claims
practices.
(C) It is important for an adjuster to avoid violations of the Unfair Trade
Practices
The Act.on whose behalf the adjuster performs, may be subjected to
insurer,
administrative
penalties if the adjuster commits an
infraction.
(D) Any person who is damaged by certain adjuster practices is granted a
rightadjuster.
the to sue correct answers (A) The work of adjusting engages the
public trust.
Which of the following statements is NOT
true?
(A) If a question of coverage arises and cannot be swiftly resolved in
favor of the
insured, the carrier should immediately tender the claim to its defense
attorney
deny the and
claim.
(B) If a lawsuit is filed and served upon an insured, the insured must
immediately
the lawsuit totender
the insurer or it may jeopardize the carrier's ability to
defend
and thethe claim, rights to coverage under the
insured's
policy.
(C) A carrier has the right, but not the duty, to settle any claim if it deems
reasonable
and prudent to do
so.
(D) Under a liability insurance policy, a carrier's duty to defend is greater
than its
pay. duty answers
correct to (A) If a question of coverage arises and cannot be
swiftly resolved
