Bundle for Adjuster Exams Compilation BUNDLE

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida-Review Verified With Complete Solution Peril Correct Answer: Something that causes a loss. Hazard Correct Answer: Something that increases the probability that a loss will occur. Warranty Correct Answer: A policy condition, either based...

All of the following are criteria for an accident to have occurred "in the course of" the employment under a workers' compensation policy, EXCEPT: - correct answer: While performing a task that a fellow worker requested, that was unusual to the employee's job description, but occurred on the ...

The amount the insured must pay in a loss before any payment is due is known as? - CORRECT ANS Deductible What is a partial legal defense that reduces the amount of damages that a person can recover based upon the amount that this person's own negligence contributed to the loss - CORRECT ANS Co...

Accumulated Depreciation - CORRECT ANS The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) - CORRECT ANS A valuation method used by insurers to reflect an item's current market value right before being damage...

What is insurance? - CORRECT ANS protection against financial loss what is a premium - CORRECT ANS a scheduled amount to be paid for an insurance policy. What are premiums used for - CORRECT ANS premiums are collected into a "pool" or "reserve to pay out claimants when needed. how can insura...

Multi Peril-Package - CORRECT ANS Any policy which provides property & liability coverage (not homeowner) ISO policy - CORRECT ANS Sold in Texas, but not Texas form Only Texas DP 1 - CORRECT ANS Mainly the only TDP sold, now with plethora of endorsements Texas Standard Fire Policy - CORRECT ANS...

An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of - CORRECT ANS The insured and insurer An insurer gives which of the following as Consideration for an insurance policy? - CORRECT ANS A Promise The interest of the insured and all other persons in the property i...

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. - CO...

The insurer and insured agree to a specific value of insured item - CORRECT ANS Agreed Value Policies Someone who has care, custody or control of another's property - CORRECT ANS Bailee Claim filed by policy holder against his _ - CORRECT ANS First Party Claim When a person who entrusts anothe...

The insurer and insured agree to a specific value of insured item - CORRECT ANS Agreed Value Policies Someone who has care, custody or control of another's property - CORRECT ANS Bailee Claim filed by policy holder against his _ - CORRECT ANS First Party Claim When a person who entrusts anothe...

A claim in the property/casualty industry Is defined as: - CORRECT 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 when you purchase insurance, you are buying: - CORRECT ANS pea...

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 ANS D. ...

Peril - CORRECT ANSWER Something that causes a loss. Hazard - CORRECT ANSWER Something that increases the probability that a loss will occur. Warranty - CORRECT ANSWER A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a f...

Florida No-Fault Tort Exemption - CORRECT ANS 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) - CORRECT ANS 1. Significant and Permanent loss of bodily function. 2.Permanent injury other t...