FL ADJUSTER EXAM QUESTIONS AND
ANSWERS WITH ACCURATE
RATIONALES(PASSED).
A business setting up a self-insurance program is
an example of which method of risk management?
A. risk retention
B. risk avoidance
C. risk transfer
D. risky control - correct answer - A. risk retention
A business that owns a commercial general liability
(CGL) policy will be covered for all the following
exposures EXCEPT:
A. premises and operations liability
B. products and completed operations liability
C. auto liability and professional liability
D. contractual liability - correct answer - C. auto
liability and professional liability
,A claims adjuster is required to maintain a
complete and accurate claim file for all of the
following reasons EXCEPT:
A. to record the activities that occurred during the
adjustment of the claim
B. to permit others to service the claim if the
adjuster is unavailable
C. to facilitate examination by insurance regulators
D. to support denial of the claim - correct answer -
D. to support denial of the claim
A claims-made commercial general liability (CGL)
policy that is canceled by the insured automatically
gets a basic extended reporting period (BERP), at
no additional period, for how long after the policy is
cancelled?
A. forever
B. 10 years
C. 5 years
,D. 60 days - correct answer - C. 5 years
A commercial umbrella liability policy issued to a
small business provides excess limits of coverage
over and above the liability limits provided by all
the following policies EXCEPT:
A. auto liability
B. businessowners
C. employers liability
D. inland marine - correct answer - D. inland
marine
A company that does not want to buy workers
compensation insurance may comply with the
state's requirement to provide it to employees by
depositing with the state securities in a specified
amount. In effect this means becoming a(n):
A. assigned risk plan
B. self-insurer
C. residual market
, D. monopolistic insurer - correct answer - B. self-
insurer
A company that only provides truck transportation
for its own cargo is known as what type of carrier?
A. common carrier
B. private carrier
C. for-hire carrier
D. trucker - correct answer - B. private carrier
A company that transports cargo belonging to
others for a fee is known as what type of carrier?
A. motor carrier
B. trucker
C. private carrier
D. carrier for hire - correct answer - D. carrier for
hire
ANSWERS WITH ACCURATE
RATIONALES(PASSED).
A business setting up a self-insurance program is
an example of which method of risk management?
A. risk retention
B. risk avoidance
C. risk transfer
D. risky control - correct answer - A. risk retention
A business that owns a commercial general liability
(CGL) policy will be covered for all the following
exposures EXCEPT:
A. premises and operations liability
B. products and completed operations liability
C. auto liability and professional liability
D. contractual liability - correct answer - C. auto
liability and professional liability
,A claims adjuster is required to maintain a
complete and accurate claim file for all of the
following reasons EXCEPT:
A. to record the activities that occurred during the
adjustment of the claim
B. to permit others to service the claim if the
adjuster is unavailable
C. to facilitate examination by insurance regulators
D. to support denial of the claim - correct answer -
D. to support denial of the claim
A claims-made commercial general liability (CGL)
policy that is canceled by the insured automatically
gets a basic extended reporting period (BERP), at
no additional period, for how long after the policy is
cancelled?
A. forever
B. 10 years
C. 5 years
,D. 60 days - correct answer - C. 5 years
A commercial umbrella liability policy issued to a
small business provides excess limits of coverage
over and above the liability limits provided by all
the following policies EXCEPT:
A. auto liability
B. businessowners
C. employers liability
D. inland marine - correct answer - D. inland
marine
A company that does not want to buy workers
compensation insurance may comply with the
state's requirement to provide it to employees by
depositing with the state securities in a specified
amount. In effect this means becoming a(n):
A. assigned risk plan
B. self-insurer
C. residual market
, D. monopolistic insurer - correct answer - B. self-
insurer
A company that only provides truck transportation
for its own cargo is known as what type of carrier?
A. common carrier
B. private carrier
C. for-hire carrier
D. trucker - correct answer - B. private carrier
A company that transports cargo belonging to
others for a fee is known as what type of carrier?
A. motor carrier
B. trucker
C. private carrier
D. carrier for hire - correct answer - D. carrier for
hire
