Florida Insurance Adjuster Licensing Test Exam
Review Questions with Verified Correct Answers
The policy period is found in what part of an insurance contract?
Declarations
Insurance policies are said to be contracts of...
Adhesion
The failure to exercise due care is known as
Negligence
A building is destroyed by flood. The loss of profits from renting the building is
Indirect Loss
The notice required for cancellation of an Auto Binders is _____ days
5
Property Insurance means
Insurance where the payment by the insurance company will be directly to the insured
An insurance contract is based on the principle of
utmost good faith
two kinds of waivers are
Express and Implied
Proximate cause is the ____ between the occurrence and damage which grows ... the
occurrence is the
unbroken connection
Replacement Cost may be a violation of
Principle of Indemnity
, Coinsurance of 80% regarding a $1 million dollar property means the insured must carry
insurance amount of
$800,000
a 5% hurricane deductible in a homeowner's policy insuring a $100,000 home would be
$5000
Giving up a known right voluntarily is known as a
waiver
in order for an insured's residence to be considered the insured's principal residence for the
purpose of Flood Insurance, the insured must live in the dwelling at least _____ of the time
80%
A health policy that only provides benefits for a single illness is known as
Dread Disease Policy
Adjusters shall not give ______ advice
Legal
PIP has a basic limit of
$10,000
The cost to replace an item less-depreciation is a description of
Actual Cash Value
According to the ethical requirements, an adjsuter shall never approach adjustments in a
manner ______ to the insured
prejudicial
An adjuster is required to notify the department of a change of name or address within
30 days
in the event of a catastrophe the Department may appoint emergency adjusters for what
length of time
for the period of emergency it shall determine
an insurer formed under the laws of Florida would be considered
Review Questions with Verified Correct Answers
The policy period is found in what part of an insurance contract?
Declarations
Insurance policies are said to be contracts of...
Adhesion
The failure to exercise due care is known as
Negligence
A building is destroyed by flood. The loss of profits from renting the building is
Indirect Loss
The notice required for cancellation of an Auto Binders is _____ days
5
Property Insurance means
Insurance where the payment by the insurance company will be directly to the insured
An insurance contract is based on the principle of
utmost good faith
two kinds of waivers are
Express and Implied
Proximate cause is the ____ between the occurrence and damage which grows ... the
occurrence is the
unbroken connection
Replacement Cost may be a violation of
Principle of Indemnity
, Coinsurance of 80% regarding a $1 million dollar property means the insured must carry
insurance amount of
$800,000
a 5% hurricane deductible in a homeowner's policy insuring a $100,000 home would be
$5000
Giving up a known right voluntarily is known as a
waiver
in order for an insured's residence to be considered the insured's principal residence for the
purpose of Flood Insurance, the insured must live in the dwelling at least _____ of the time
80%
A health policy that only provides benefits for a single illness is known as
Dread Disease Policy
Adjusters shall not give ______ advice
Legal
PIP has a basic limit of
$10,000
The cost to replace an item less-depreciation is a description of
Actual Cash Value
According to the ethical requirements, an adjsuter shall never approach adjustments in a
manner ______ to the insured
prejudicial
An adjuster is required to notify the department of a change of name or address within
30 days
in the event of a catastrophe the Department may appoint emergency adjusters for what
length of time
for the period of emergency it shall determine
an insurer formed under the laws of Florida would be considered
