FLORIDA CLAIMS ADJUSTER LATEST 2026 EXAM
QUESTIONS AND ANSWERS GRADED A+
✔✔Under Commercial Property Policies, Florida law requires an insurer to give the
insured at least __________days advance written notice of non-renewal.
A. 25
B. 90
C. 45
D. None of the Above - ✔✔C. 45
Also, notice must state reasons the policy is not to be renewed.
✔✔When a business's personal property values fluctuate, a single, fixed amount of
insurance could produce either over- or under-insurance at any given time. With this
option, the limit of coverage is set at an amount somewhat higher than expected peak
values. - ✔✔Value Reporting
Replacement Cost is incorrect b/c it calculates monetary value of one's personal
property
✔✔Liberalization states, "The insured gets the benefit of any broadened coverage if the
company, within __________ days of inception, adopts a form revision that is broader
and without increase in premium." - ✔✔45 days
✔✔Used to cover buildings in the course of construction - ✔✔Builders Risk Policy
Includes: structure being built (including foundations), fixtures and machinery,
equipment to service building, owned materials and supplies used for construction.
Temporary structures built or assembled on site are also included if not covered by
insurance.
✔✔First developed as an extension of Ocean Marine coverage, to provide coverage for
cargo traveling over land, instead of by sea. - ✔✔Commercial Inland Marine Coverage
Definition: to help identify kinds of risks which are eligible for either Ocean or Inland
Marine insurance.
✔✔Protects against *loss of business income* that results from damage to covered
property from a covered cause of loss. (BIIC) - ✔✔Business Income Insurance
Coverage
Period of restoration begins 72 hours after date of direct damage. In effect, coverage
has a 72 hour deductible.
,Coverage ends on either 1. date when damaged property could be repaired, rebuilt, or
replaced 2. date business resumes operations at new, permanent location (whichever
comes first)
✔✔What payment covers several areas of costs related to claims, and are payable in
addition to the policy limits? - ✔✔Supplementary
Generally, all costs of litigation are covered (court costs, prejudgment interest,
judgement interest, cost of bonds to release attachments)
✔✔Three full-time employees from a local furniture company are horsing around and
one is pushed into a machine that cut his foot. How will the company's General Liability
respond? - ✔✔The GL policy will not pay
Coverage excludes liabilities under Workers Comp or similar law or arising from injuries
to employees of the insured. The employees would have to file through Workers Comp.
✔✔Which of the following can be found in a Commercial General Liability Contract?
A. Declarations
B. Common Policy Conditions
C. Occurrence and Claims-Made Forms
D. All of the Above - ✔✔D. All of the Above
Also included: Nuclear Energy Liability Exclusion endorsement (other endorsements
may be attached)
✔✔There is __________ coverage for injury, damage or clean-up costs caused by
pollutants, subject to minor exceptions. - ✔✔0%
✔✔Under a Commercial General Liability Policy, a basic limit of __________ per person
applies to Medical Payments: - ✔✔$5,000
✔✔The Commercial General Liability __________ identifies the named insured and
address, states the policy period and premium and miscellaneous information about the
insured, and specifies the limits of coverage that apply. - ✔✔Declarations
✔✔The Nuclear Energy Liability Exclusion endorsement, in general, __________ all
hazards related to nuclear energy. - ✔✔Excludes
Firms involved in Nuclear activities receive protection from special insurer pools
organized for that purpose.
✔✔Toxic wastes escaped from a gas station disposal tank. The insured operator
discovers the leak and cleans up the spill. Unfortunately, the waste quickly seeped into
, the ground and has caused illness among the residents of a neighboring community
This is an example of? - ✔✔Known Loss
Insurer should have been notified and further investigation of the spill and effective
clean-up would have been observed.
✔✔Applies to BI or PD which occurs during the policy period, regardless of any later
time at which a claim is made: - ✔✔Occurrence Form
vs. Claims-Made: applies only to BI or PD occurring on or after retroactive date for
which claim is received/recorded during policy period
✔✔Applies only to a BI or PD which occurs on or after the retroactive date, and for
which the claim is received or recorded by an insured or the company during the policy
period: - ✔✔Claims-Made
Retroactive date is stated in Declarations and will normally be same date as issuing
company's first claims-made effective date for insured.
✔✔All of the following are components of Workers Compensation, except:
A. Up to $750,000 in Death Benefits
B. Reimbursement for Medical Expenses incurred
C. Reimbursement for lost wages on percentage basis
D. Funeral costs up to $7,500 - ✔✔Up to $750,000 in Death Benefits
Compensation for death is payable if death results within one year of an accident or if it
follows disability within five years of accident.
✔✔The following are classes of disability, except: - ✔✔Temporary Full
Also included: Temporary Partial
✔✔The measure to determine disability benefits is the __________ of the employee at
the time of injury: - ✔✔Average Weekly Wage
Disability - incapacity due to injury to earn same or any other employment wages that
employee was receiving at time of injury.
✔✔Mandatory for risks exceeding certain annual premiums, recognizes the prior loss
experience of the risk and applies either a debit for unfavorable experience or a credit
for better-than-expected loss results. This is defined as: - ✔✔The Experience Rating
Plan
This, along with Retrospective Rating Plan, is a manual rating process until premiums
reach a certain level.
QUESTIONS AND ANSWERS GRADED A+
✔✔Under Commercial Property Policies, Florida law requires an insurer to give the
insured at least __________days advance written notice of non-renewal.
A. 25
B. 90
C. 45
D. None of the Above - ✔✔C. 45
Also, notice must state reasons the policy is not to be renewed.
✔✔When a business's personal property values fluctuate, a single, fixed amount of
insurance could produce either over- or under-insurance at any given time. With this
option, the limit of coverage is set at an amount somewhat higher than expected peak
values. - ✔✔Value Reporting
Replacement Cost is incorrect b/c it calculates monetary value of one's personal
property
✔✔Liberalization states, "The insured gets the benefit of any broadened coverage if the
company, within __________ days of inception, adopts a form revision that is broader
and without increase in premium." - ✔✔45 days
✔✔Used to cover buildings in the course of construction - ✔✔Builders Risk Policy
Includes: structure being built (including foundations), fixtures and machinery,
equipment to service building, owned materials and supplies used for construction.
Temporary structures built or assembled on site are also included if not covered by
insurance.
✔✔First developed as an extension of Ocean Marine coverage, to provide coverage for
cargo traveling over land, instead of by sea. - ✔✔Commercial Inland Marine Coverage
Definition: to help identify kinds of risks which are eligible for either Ocean or Inland
Marine insurance.
✔✔Protects against *loss of business income* that results from damage to covered
property from a covered cause of loss. (BIIC) - ✔✔Business Income Insurance
Coverage
Period of restoration begins 72 hours after date of direct damage. In effect, coverage
has a 72 hour deductible.
,Coverage ends on either 1. date when damaged property could be repaired, rebuilt, or
replaced 2. date business resumes operations at new, permanent location (whichever
comes first)
✔✔What payment covers several areas of costs related to claims, and are payable in
addition to the policy limits? - ✔✔Supplementary
Generally, all costs of litigation are covered (court costs, prejudgment interest,
judgement interest, cost of bonds to release attachments)
✔✔Three full-time employees from a local furniture company are horsing around and
one is pushed into a machine that cut his foot. How will the company's General Liability
respond? - ✔✔The GL policy will not pay
Coverage excludes liabilities under Workers Comp or similar law or arising from injuries
to employees of the insured. The employees would have to file through Workers Comp.
✔✔Which of the following can be found in a Commercial General Liability Contract?
A. Declarations
B. Common Policy Conditions
C. Occurrence and Claims-Made Forms
D. All of the Above - ✔✔D. All of the Above
Also included: Nuclear Energy Liability Exclusion endorsement (other endorsements
may be attached)
✔✔There is __________ coverage for injury, damage or clean-up costs caused by
pollutants, subject to minor exceptions. - ✔✔0%
✔✔Under a Commercial General Liability Policy, a basic limit of __________ per person
applies to Medical Payments: - ✔✔$5,000
✔✔The Commercial General Liability __________ identifies the named insured and
address, states the policy period and premium and miscellaneous information about the
insured, and specifies the limits of coverage that apply. - ✔✔Declarations
✔✔The Nuclear Energy Liability Exclusion endorsement, in general, __________ all
hazards related to nuclear energy. - ✔✔Excludes
Firms involved in Nuclear activities receive protection from special insurer pools
organized for that purpose.
✔✔Toxic wastes escaped from a gas station disposal tank. The insured operator
discovers the leak and cleans up the spill. Unfortunately, the waste quickly seeped into
, the ground and has caused illness among the residents of a neighboring community
This is an example of? - ✔✔Known Loss
Insurer should have been notified and further investigation of the spill and effective
clean-up would have been observed.
✔✔Applies to BI or PD which occurs during the policy period, regardless of any later
time at which a claim is made: - ✔✔Occurrence Form
vs. Claims-Made: applies only to BI or PD occurring on or after retroactive date for
which claim is received/recorded during policy period
✔✔Applies only to a BI or PD which occurs on or after the retroactive date, and for
which the claim is received or recorded by an insured or the company during the policy
period: - ✔✔Claims-Made
Retroactive date is stated in Declarations and will normally be same date as issuing
company's first claims-made effective date for insured.
✔✔All of the following are components of Workers Compensation, except:
A. Up to $750,000 in Death Benefits
B. Reimbursement for Medical Expenses incurred
C. Reimbursement for lost wages on percentage basis
D. Funeral costs up to $7,500 - ✔✔Up to $750,000 in Death Benefits
Compensation for death is payable if death results within one year of an accident or if it
follows disability within five years of accident.
✔✔The following are classes of disability, except: - ✔✔Temporary Full
Also included: Temporary Partial
✔✔The measure to determine disability benefits is the __________ of the employee at
the time of injury: - ✔✔Average Weekly Wage
Disability - incapacity due to injury to earn same or any other employment wages that
employee was receiving at time of injury.
✔✔Mandatory for risks exceeding certain annual premiums, recognizes the prior loss
experience of the risk and applies either a debit for unfavorable experience or a credit
for better-than-expected loss results. This is defined as: - ✔✔The Experience Rating
Plan
This, along with Retrospective Rating Plan, is a manual rating process until premiums
reach a certain level.
