Florida Public Adjuster State Test 2023 100% Correctly Answered

Florida Public Adjuster State Test 2023 100% Correctly Answered Florida No-Fault Tort Exemption - CORRECT ANS Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) - CORRECT ANS 1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? - CORRECT ANS National Flood Insurance Program Form SR-22 - CORRECT ANS Drivers Convicted of DUI or a traffic felony over the prior 3 years are required to have 100/300/50 coverage or a certificate of self insurance of $350,000. Contents of a CGL Contract - CORRECT ANS 1.Declarations Form 2.Common Policy Conditions Form 3. One of: A.Occurrence Form B.Claims Made Form 4.Nuclear Energy Liability Exclusion Endorsement. Declarations of a CGL Contract(4) - CORRECT ANS 1.Named Insured(including address) 2.Policy Period 3.Premium 4.Limits of Coverage 7 Common CGL Conditions - CORRECT ANS 1.Cancellation(30 Days by insurer option, 10 Days By no payment). 2.Changes 3.Examination of Books 4.Inspections and Surveys 5.Premiums 6.Transfer 7.Nuclear Endorsement CGL Coverage A - CORRECT ANS Bodily Injury and Property Damage Insuring Agreement The 3 Conditions that define work as "completed" - CORRECT ANS 1.When all work called for in the contract is completed. 2.When all work to be done at the site has been completed if one contract calls for work at more than one site. 3.When that part of the work done at a job site has been put to its intended use by any person or organization other than another contractor or subcontractor. Occurance - CORRECT ANS An accident, including continuous or repeated exposure to substantially the same general harmful conditions. accident - CORRECT ANS Sudden, unexpected event The Difference between "Occurance" and "Claims Made" CGL Coverages - CORRECT ANS The Coverage Trigger: The Occurance Form applies to BI and PD regardless of any later time at which the claim is made. The Claims-Made Form applies only to BI and PD that occurs on or after the "RetroActive date" Florida Public Adjuster State Test 2023 100% Correctly Answered Retro-Active Date - CORRECT ANS The date on which the coverage legally began. Basic Extended Reporting Period for CGL - CORRECT ANS 60 Days after expiration Why is the term "Coverage Trigger" misleading? - CORRECT ANS Because it intends to refer to the time period during which the insurance contract is in effect. Umbrella - CORRECT ANS Covers Excessive Liability A Homeowners Policy consists of(3 components): - CORRECT ANS 1.Declarations 2.One of 6 Homeowners forms 3.Mandatory and optional endorsements If a unit is co-owned, May one co-owner be insured as the renter(HO-4)? - CORRECT ANS Yes What are the two main divisions of a Home Owners Form? - CORRECT ANS Section I-Property & Section II-Liability 4 Subsections of Section I of a Property Coverage Policy - CORRECT ANS 1. Coverages 2.Perils Insured Against 3.Exclusions 4.Conditions Who determines how much HO-6 coverages a Condominium Owner needs? - CORRECT ANS The Association Homeowners Coverage A - CORRECT ANS "Dwelling" covers the dwelling building and structures attached; also construction materials and supplies on or adjacent to the premises. Homeowners Coverage B - CORRECT ANS "Other Structures" covers private structures on the residence premises that are not attached to the main dwelling. 4 Examples of "Other Structures" Per Coverage B of a Homeowner's policy(book gives 5) - CORRECT ANS 1.Detached Garage. 2.Guest House.