Fl 6 20 claims adjuster - Study guides, Class notes & Summaries

FL 6-20 Claims Adjuster Questions and Correct Answers What is Insurance? - Correct Answer: Financial tool that protects individuals and organizations from unforeseen and extraordinary financial losses by transferring risk to another party. What is the Principle of Indemnity? - Correct Answer: Restoration of approximate previous financial condition; no more, no less. What is a Premium? - Correct Answer: A fee that the insured pays in exchange for insurance coverage. What is a Reserve?...

FL 6-20 Claims Adjuster Exam Questions and Answers

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review| 332 Questions| Defaming a competitor company or agent is not only unprofessional, it can also result in a license suspension. A. True B. False A. True A General Lines Claim Adjuster is required to obtain the same number of Continuing Education hours as a licensed Customer Service Representative. A. True B. False B. False An Insurance Company which is formed under the laws of the State of Illinois, and has it...

Claims Adjuster (Florida)| 206 questions| with complete solutions Claims Adjuster (Florida)| 206 questions| with complete solutions 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 - Correct Answer -D. All listed interests Remember that the insurer is not respo...

Peril Something that 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 untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment The failure of the insured to reveal relevant facts known to the insured i...

Concealment: The failure of the insured to reveal relevant facts known to the insured in applying for insurance. 6. Abandonment: Property insurance policies usually contain an abandonment clause, stating the insured cannot dump damaged property on the insurer and demand its full value. 7. Severability: The insurance applies separately to each insured as if other insureds did not exist. 8. Proximate Cause: The cause having the most significant impact in bringing about the loss under a fir...

FL 6-20 Claims Adjuster Test B

FL 6-20 Claims Adjuster Exam Questions and Answers

What is Insurance? Financial tool that protects individuals and organizations from unforeseen and extraordinary financial losses by transferring risk to another party. What is the Principle of Indemnity? Restoration of approximate previous financial condition; no more, no less. What is a Premium? A fee that the insured pays in exchange for insurance coverage. What is a Reserve? A pool of collected premiums that the insurer sets aside to pay claims. Legal Contract Insurance Policy...

Peril - Answer Something that causes a loss. 10=10,000 Property Damage-the most paid out for damage caused to property of others. What is SR-22 ? - Answer A form of coverage known as a NAMED NOOWNER policy is required, this form offers insurance coverage only while the insured is operating automobiles owned by others. What are the two things that need to happen for financial responsibility that did not exist at the time of the accident ? - Answer -The legally valid claims of others must...