Florida Adjuster Licensing Practice Exam
Florida Adjuster Licensing Practice Exam
Study online at https://quizlet.com/_6th1fd
1. A claim in the property/casualty industry Is an assertion of an alleged legal right
defined as: against a person, entity, company or in-
surer that carries with it a demand for
money as compensation for injuries or
damages
2. when you purchase insurance, you are buy- peace of mind that if an insured event
ing: does occur, that the insurance company
will keep its promise and provide the fi-
nancial protection that you purchased
3. in today's society, the most important factor trust
in the purchase of insurance is:
4. One of the most important claim handling to help those who have been injured or
goals of an insurance company is: who have suffered loss for which the in-
sured is responsible, while at the same
time minimizing loss for the insured party
and carrier
5. what is the primary difference between a a company employee adjuster works for
company employee adjuster and an inde- an insurance company and an indepen-
pendent adjuster dent adjuster works independently for
themselves or for adjusting firms who rep-
resent many clients
6. an adjuster's responsibility as a fiduciary the adjuster represents, and controls, the
means: property and financial interests of the
client to whom he/she owes a high degree
of loyalty and good faith
7. the basic and primary functions of an ad- investigating, evaluating, reporting, nego-
juster are: tiating and disposing of claims
1/5
Page 1 of 5
, Florida Adjuster Licensing Practice Exam
Florida Adjuster Licensing Practice Exam
Study online at https://quizlet.com/_6th1fd
8. once an adjuster is licensed, he or she must an adjuster must complete 24 hours of
maintain a continuing education require- continuing education in every 2 year com-
ment. What is that adjuster's compliance re- pliance period, of which 5 hours must be
quirement in order to retain a license? taken in a properly certified 5 hour law and
ethics update course
9. the adjuster's code of ethics starts with a the work of adjusting engages the public
basic premise which states: trust
10. Which of the following would NOT be a pre- Not responding to an insured calls be-
ferred claims practice or behavior under FL cause you haven't made up your mind
Unfair Insurance Trade Practices Act?
11. what are the four critical elements of a con- 1. agreement to terms (must understand
tract? what is given and received)
2. adequate consideration for the promis-
es made
3. legal capacity of the parties to contract
4. contract must have legal purpose
12. an insurance policy is often referred to as a if any of the wording or language in the
contract of adhesion which means: 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)
13. breach of contract by a carrier or its ad- if found guilty of a breach of contract,
juster through non-payment or on-compli- the carrier could be punished with a "bad
ance with policy requirements, could have faith" verdict that would cost it millions of
the following consequences for a carrier dollars
2/5
Page 2 of 5
Florida Adjuster Licensing Practice Exam
Study online at https://quizlet.com/_6th1fd
1. A claim in the property/casualty industry Is an assertion of an alleged legal right
defined as: against a person, entity, company or in-
surer that carries with it a demand for
money as compensation for injuries or
damages
2. when you purchase insurance, you are buy- peace of mind that if an insured event
ing: does occur, that the insurance company
will keep its promise and provide the fi-
nancial protection that you purchased
3. in today's society, the most important factor trust
in the purchase of insurance is:
4. One of the most important claim handling to help those who have been injured or
goals of an insurance company is: who have suffered loss for which the in-
sured is responsible, while at the same
time minimizing loss for the insured party
and carrier
5. what is the primary difference between a a company employee adjuster works for
company employee adjuster and an inde- an insurance company and an indepen-
pendent adjuster dent adjuster works independently for
themselves or for adjusting firms who rep-
resent many clients
6. an adjuster's responsibility as a fiduciary the adjuster represents, and controls, the
means: property and financial interests of the
client to whom he/she owes a high degree
of loyalty and good faith
7. the basic and primary functions of an ad- investigating, evaluating, reporting, nego-
juster are: tiating and disposing of claims
1/5
Page 1 of 5
, Florida Adjuster Licensing Practice Exam
Florida Adjuster Licensing Practice Exam
Study online at https://quizlet.com/_6th1fd
8. once an adjuster is licensed, he or she must an adjuster must complete 24 hours of
maintain a continuing education require- continuing education in every 2 year com-
ment. What is that adjuster's compliance re- pliance period, of which 5 hours must be
quirement in order to retain a license? taken in a properly certified 5 hour law and
ethics update course
9. the adjuster's code of ethics starts with a the work of adjusting engages the public
basic premise which states: trust
10. Which of the following would NOT be a pre- Not responding to an insured calls be-
ferred claims practice or behavior under FL cause you haven't made up your mind
Unfair Insurance Trade Practices Act?
11. what are the four critical elements of a con- 1. agreement to terms (must understand
tract? what is given and received)
2. adequate consideration for the promis-
es made
3. legal capacity of the parties to contract
4. contract must have legal purpose
12. an insurance policy is often referred to as a if any of the wording or language in the
contract of adhesion which means: 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)
13. breach of contract by a carrier or its ad- if found guilty of a breach of contract,
juster through non-payment or on-compli- the carrier could be punished with a "bad
ance with policy requirements, could have faith" verdict that would cost it millions of
the following consequences for a carrier dollars
2/5
Page 2 of 5
