Florida Claims Adjuster Exam
Latest Questions With Verified
Answers || Graded A+
1) While selling an Automobile policy to a customer, an agent tells
them that they are also required to purchase an Emergency Road
Service Plan, even though that is not true. This is an example of:
A....
1) While selling an Automobile policy to a customer, an agent tells
them that they are also required to purchase an Emergency Road
Service Plan, even though that is not true. This is an example of:
A. Misrepresentation
B. Lack of Fitness
C. Deception
D. Sliding - ANSWER ✔ D. Sliding
2) After pleading guilty or no contest to a felony, a licensed
individual has _________ days to inform the Department?
A. 10
B. 20
C. 30
D. 40 - ANSWER ✔ C. 30
3) Under the Florida Unfair Insurance Trade Practices Act,
penalties are provided for misrepresentation of business
practices, which include all of the following except:
A. Failing to act promptly
B. Failure to explain claim denials in writing
C. Denying claims with reasonable investigation
D. Failure to maintain complaint handling procedures - ANSWER
✔ C. Denying claims with reasonable investigation
4) An adjuster who represents the financial interests of the
insured named in the policy is defined as a(n):
,A. Public Adjuster
B. Bureau Adjuster
C. Fee Adjuster
D. Independent Adjuster - ANSWER ✔ A. Public Adjuster
5)A written statement given by the insured to the insurer
acknowledging that money received in the settlement of damages
is received, not as a final payment, but as an advance pending an
outcome of a claim against the person responsible for the
damage. This is defined as a(n):
A. Loan Receipt
B. Subrogation Loan
C. Full Release Statement
D. Partial Release Statement - ANSWER ✔ A. Loan Receipt
Enables insurer to bring an action for recovery against a third
party
6) Duties and functions of the Department of Financial Services
include all of the following except:
A. Approve the issuance of licenses
B. Rating and underwriting rules
C. Claims Supervision
D. Investigate charges of unethical behavoir - ANSWER ✔ B.
Rating and underwriting rules
7) Which of the following are not considered to be an adjuster:
A. Employee or Staff Adjuster
B. Independent Adjuster
C. Public Adjuster
D. General Lines Adjuster - ANSWER ✔ D. General Lines
Adjuster
Bureau Adjusters are also considered adjusters.
,8) When making any payment for damage to an automobile for a
partial loss, the insurer shall have printed on the loss settlement,
"Failure to use the insurance proceeds in accordance with the
security agreement, if any, could be a violation of s.812.014,
Florida Statutes." This is payment for a(n):
A. Third Party Claim
B. Two Party Claim
C. Derivative Claim
D. All of the Above - ANSWER ✔ A. Third Party Claim
9) The District of Columbia and any state or territory of the United
States in which an insurance agent maintains his or her principal
place of residence or principal place of business and is licensed
to act as an insurance agent. This is defined as:
A. Business Territory
B. Home Territory
C. Home State
D. None of the Above - ANSWER ✔ C. Home State
10)Any material which is or may have been a motor vehicle or
mobile home, which is inoperable and which material is in such
condition that its highest or primary value is either in its sale or
transfer as scrap metal or for its component parts, or a
combination of the two. This is defined as:
A. Junk
B. Derelict
C. Major Component Parts
D. None of the Above - ANSWER ✔ B. Derelict
11) The authority given by an insurer or employer to a licensee to
transact insurance or adjust claims on behalf of an insurer or
employer is defined as:
A. Appointment
B. Express Authority
, C. Registered
D. Certificate of Authority - ANSWER ✔ A. Appointment
Licensees are given authority through the appointment process
12) Charging an applicant for a specific ancillary coverage or
product, in addition to the cost of the insurance coverage provided
for, without the informed consent of the applicant is a practice of:
A. Churning
B. Sliding
C. Soliciting
D. None of the Above - ANSWER ✔ B. Sliding
13) Loss Payee Clause - ANSWER ✔ Provides, in event of
payment being made under the policy in relation to insured risk,
that payment will be made to a third party rather than the
beneficiary
14) Mortgagee Clause - ANSWER ✔ Protects a lender who has
an insurable interest in a home
Grants special protection for the interest of a mortgage named in
the policy; setting up a separate content between insurer and
mortgagee
15)Fiduciary - ANSWER ✔ A relationship that requires
maintenance of a high degree of fidelity and loyalty to the
interests of the principal, whether or not the adjuster is a direct
employee
16)Evaluation - ANSWER ✔ Establishing a dollar value on a
claim.
Determines the fair payment in accordance with the contract and
applicable law
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