Florida Insurance Adjuster Licensing Test with complete solutions
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%
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