FLORIDA ADJUSTER LICENSING
PRACTICE EXAM QUESTIONS WITH
100- CORRECT ANSWERS ALREADY
GRADEDA+
A claim in the property/casualty industry Is defined
as: - correct answer - 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
A couple had Coverage A limits of $250K on their
home located in FL. A tornado spawned by
Hurricane Ernesto damaged their roof resulting in
estimated repair costs of $11,500. The adjuster
deducted the FL hurricane deductible of $5,000
from the estimate and paid them $6,500 in
settlement of their property claim. This is known as
the application of: - correct answer - a
percentage deductible (hurricane deductible)
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 $120,000, yet the adjuster is required
by law to pay the couple $150,000. This is known
as the application of: - correct answer - valued
policy law
A restaurant was damaged after a grease fire
erupted in the kitchen. Damage to the structure
totaled $78,300. The owner's commercial property
policy provided Coverage A limits of $250,000 with
a deductible of $1,000. How much would the
policyholder be paid? - correct answer - $$77,300
an adjuster's responsibility as a fiduciary means: -
correct answer - the adjuster represents, and
controls, the property and financial interests of the
client to whom he/she owes a high degree of
loyalty and good faith
an insurance policy is often referred to as a
contract of adhesion which means: - correct
answer - if any of the wording or language in the
policy is vague or ambiguous, making it difficult to
understand or interpret, the law is well settled that
the interpretation shall be in favor of the party who
did not control its terms (the policyholder)
PRACTICE EXAM QUESTIONS WITH
100- CORRECT ANSWERS ALREADY
GRADEDA+
A claim in the property/casualty industry Is defined
as: - correct answer - an assertion of an alleged
legal right against a person, entity, company or
insurer that carries with it a demand for money as
compensation for injuries or damages
A couple had Coverage A limits of $250K on their
home located in FL. A tornado spawned by
Hurricane Ernesto damaged their roof resulting in
estimated repair costs of $11,500. The adjuster
deducted the FL hurricane deductible of $5,000
from the estimate and paid them $6,500 in
settlement of their property claim. This is known as
the application of: - correct answer - a
percentage deductible (hurricane deductible)
a couple has insured their home for $150,000. a
fire ensues and guts their home, resulting in a total
loss. An appraisal of the home prior to loss results
, in a value of $120,000, yet the adjuster is required
by law to pay the couple $150,000. This is known
as the application of: - correct answer - valued
policy law
A restaurant was damaged after a grease fire
erupted in the kitchen. Damage to the structure
totaled $78,300. The owner's commercial property
policy provided Coverage A limits of $250,000 with
a deductible of $1,000. How much would the
policyholder be paid? - correct answer - $$77,300
an adjuster's responsibility as a fiduciary means: -
correct answer - the adjuster represents, and
controls, the property and financial interests of the
client to whom he/she owes a high degree of
loyalty and good faith
an insurance policy is often referred to as a
contract of adhesion which means: - correct
answer - if any of the wording or language in the
policy is vague or ambiguous, making it difficult to
understand or interpret, the law is well settled that
the interpretation shall be in favor of the party who
did not control its terms (the policyholder)
