Florida Adjuster Licensing Practice Exam 2023 Questions & Answers with complete solution

A claim in the property/casualty industry Is defined as: - ANS 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 when you purchase insurance, you are buying: - ANS peace of mind that if an insured event does occur, that the insurance company will keep its promise and provide the financial protection that you purchased in today's society, the most important factor in the purchase of insurance is: - ANS trust One of the most important claim handling goals of an insurance company is: - ANS to help those who have been injured or who have suffered loss for which the insured is responsible, while at the same time minimizing loss for the insured party and carrier what is the primary difference between a company employee adjuster and an independent adjuster - ANS a company employee adjuster works for an insurance company and an independent adjuster works independently for themselves or for adjusting firms who represent many clients an adjuster's responsibility as a fiduciary means: - ANS 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 the basic and primary functions of an adjuster are: - ANS investigating, evaluating, reporting, negotiating and disposing of claims once an adjuster is licensed, he or she must maintain a continuing education requirement. What is that adjuster's compliance requirement in order to retain a license? - ANS an adjuster must complete 24 hours of continuing education in every 2 year compliance period, of which 5 hours must be taken in a properly certified 5 hour law and ethics update course the adjuster's code of ethics starts with a basic premise which states: - ANS the work of adjusting engages the public trust