FLORIDA PUBLIC ADJUSTER 320 LICENSE EXAM
QUESTIONS WITH VERIFIED ANSWERS |GRADED A+ .
Insurance Department - correct Answers -Has the sole responsibility for the regulation of insurance
business and any person or entity that is or may be "conducting insurance business"
The function of the Insurance Department - correct Answers --To see that all laws regarding insurance are
complied with and that the public interest is protected
-Ensure the competence of individuals who represent the insurance industry as adjusters, agents, and
supervisors
True or False:
Department of Insurance has the authority to suspend any part or all of the conduct of insurance business
if it believes that a carrier, its agent, or an adjuster is engaged in any form of unfair method of competition
or trade practice, simply by issuing an emergency "cease and desist" order - correct Answers -True
National Association of Insurance Commissioners (NAIC) - correct Answers -The leader in the
development of Unfair [Insurance] Trade Practice regulations
What are some unfair methods of competition and unfair and deceptive acts or practices in the business of
insurance: - correct Answers --Misrepresentations and False Advertising of Insurance Policies
-Misrepresentation in Insurance Applications
-Defamation of Insurer
-Failure to Maintain Complaint Handling Procedures
1
, Florida law defines the following acts as unfair claim settlement practices: - correct Answers -1)
Misrepresentation of insurance policy provisions;
2) Failing to adopt and implement reasonable standards for the prompt investigation of claims;
3) Failing to acknowledge or to act reasonably promptly when claims are presented; and,
4) Refusing to pay claims without an investigation.
Binders - correct Answers -A statement (written or oral) that insurance coverage is in force. Its purpose is
to provide temporary coverage until an actual insurance policy can be issued.
Emergency Licensure - correct Answers -If a catastrophe or an emergency arising out of disaster, act of
God, riot, civil commotion, conflagration (i.e. fire), or other similar occurrence, Departments of Insurance
have the authority to quickly issue emergency licenses to individuals employed or supervised by someone
who already has a license or an insurer
Reciprocity - correct Answers -If an adjuster holds a license in his or her state of residence, most states
will grant that adjuster a "non-resident" license on a reciprocal basis as long as the resident license is
"active and in good standing.
An adjuster currently holding an insurance license in their home state and who obtains a similar license in
another state to adjust insurance claims is known as:
A. Interstate adjuster
B. Out of State adjuster
C. Non-resident adjuster
D. Admitted adjuster - correct Answers -C. Non-resident adjuster
True or False:
Insurance is a transfer of risk - correct Answers -True
2
QUESTIONS WITH VERIFIED ANSWERS |GRADED A+ .
Insurance Department - correct Answers -Has the sole responsibility for the regulation of insurance
business and any person or entity that is or may be "conducting insurance business"
The function of the Insurance Department - correct Answers --To see that all laws regarding insurance are
complied with and that the public interest is protected
-Ensure the competence of individuals who represent the insurance industry as adjusters, agents, and
supervisors
True or False:
Department of Insurance has the authority to suspend any part or all of the conduct of insurance business
if it believes that a carrier, its agent, or an adjuster is engaged in any form of unfair method of competition
or trade practice, simply by issuing an emergency "cease and desist" order - correct Answers -True
National Association of Insurance Commissioners (NAIC) - correct Answers -The leader in the
development of Unfair [Insurance] Trade Practice regulations
What are some unfair methods of competition and unfair and deceptive acts or practices in the business of
insurance: - correct Answers --Misrepresentations and False Advertising of Insurance Policies
-Misrepresentation in Insurance Applications
-Defamation of Insurer
-Failure to Maintain Complaint Handling Procedures
1
, Florida law defines the following acts as unfair claim settlement practices: - correct Answers -1)
Misrepresentation of insurance policy provisions;
2) Failing to adopt and implement reasonable standards for the prompt investigation of claims;
3) Failing to acknowledge or to act reasonably promptly when claims are presented; and,
4) Refusing to pay claims without an investigation.
Binders - correct Answers -A statement (written or oral) that insurance coverage is in force. Its purpose is
to provide temporary coverage until an actual insurance policy can be issued.
Emergency Licensure - correct Answers -If a catastrophe or an emergency arising out of disaster, act of
God, riot, civil commotion, conflagration (i.e. fire), or other similar occurrence, Departments of Insurance
have the authority to quickly issue emergency licenses to individuals employed or supervised by someone
who already has a license or an insurer
Reciprocity - correct Answers -If an adjuster holds a license in his or her state of residence, most states
will grant that adjuster a "non-resident" license on a reciprocal basis as long as the resident license is
"active and in good standing.
An adjuster currently holding an insurance license in their home state and who obtains a similar license in
another state to adjust insurance claims is known as:
A. Interstate adjuster
B. Out of State adjuster
C. Non-resident adjuster
D. Admitted adjuster - correct Answers -C. Non-resident adjuster
True or False:
Insurance is a transfer of risk - correct Answers -True
2
