Florida 4-40 Customer Representative (CIR) License Questions with 100% Correct Answers

Jesse's home is worth $200,000 and he has a homeowners policy with a $160,000 limit. After a covered loss, Jesse is left with a total of $10,000 in damages. Assuming the insurer requires the standard 80% level of insurance for coinsurance purposes, and ignoring any deductibles, how much will Jesse receive in indemnification? Correct Answer 10,000 A power surge sparks a small electrical fire in an office building. The electrical fire triggers the automatic sprinkler system. The water from the sprinklers soaks the carpets and shorts-out all the computers, causing thousands of dollars in damage. What is the proximate cause of the loss? Correct Answer The power surge Which of the following statements is NOT true of an insurance adjuster? Correct Answer An insurance adjuster receives her authority to sell products on behalf of the insurer through a written contract. Samantha, an agent for NED Insurance, routinely misrepresents policy provisions or fails to bring them up at all in her sales discussions with potential clients in an effort to make more sales. All of the following statements are likely true, EXCEPT: Correct Answer Samantha is fulfilling her fiduciary duty to NED Insurance by selling more policies. After her business suffered damage in a fire, Jane filed a claim with Acme Insurance, which dispatched Bob to adjust it, even though he was not allowed to adjust commercial claims. He investigated Jane's losses and submitted his estimate to Acme Insurance, which issued her a settlement check based on that estimate. Bob had _______ because Acme Insurance accepted his estimate and paid Jane's claim. Correct Answer apparent authority Which of the following was NOT a major benefit of The My Safe Florida Home Program? Correct Answer Disaster preparedness education Sam, who has a typical HO-3 policy, is forced to evacuate his home by civil authorities due to rising flood waters in his neighborhood. It takes a month before Sam is allowed to come back to his home. During this time, he has spent $3,000 in hotel expenses, on top of his monthly mortgage payment of $850. When he files a claim, how much will Sam receive under Coverage D - Loss of Use? Correct Answer $0