FLORIDA CLAIMS ADJUSTERREAL EXAM QUESTIONSAND CORRECTANSWERS LATEST EXAM

The Business Automobile Policy includes all of the following coverage forms except: A. The Garage Coverage Form B. The Trailer Interchange Coverage Form C. The Truckers Coverage Form D. The Business Auto Coverage Form - ANSWER- B. The Trailer Interchange Coverage Form Personal Injury Protection, or PIP, has a per person, per accident limit. A. 10,000 B. 20,000 C. 1,000 D. Depends on the damaged property - ANSWER- A. 10,000 Used to insure businesses engaged in selling, servicing, repairing, parking or storing automobiles: A. Servicing Coverage Form B. Garage Coverage Form C. Truckers Coverage Form D. None of the Above - ANSWER- B. Garage Coverage Form The following examples are referred to as liability limits: 25/50/25 or 10/20/10. A. SplitB. Single C. Straight D. None of the Above - ANSWER- A. Split 10/20/10 = 10,000 per person injured 20,000 all injuries combined 10,000 property damage Example of straight liability limit = $30,000 Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible, how much can he expect his PIP coverage to pay toward his medical bills that total $3,000? A. $1,600 B. $1,000 C. $2,400 D. $3,000 - ANSWER- A. $1,600 3000 (bills) - 1000 (deductible) = 2000 x .80 (eighty percent) Frank has a not-at-fault accident, he has basic PIP, no deductible and Med pay of $5,000. How much will his Med Pay contribute to medical bills of $15,000? A. $15,000 B. $5,000 C. $3,000 D. $0, Frank is not-at-fault - ANSWER- B. $5,000 Medical Payment limits apply per person; Frank will receive full amount towards medical bills. Which of the following is not one of the rating factors for a Homeowner's Policy? A. Type of Construction B. Location of Risk C. Age & Gender of Insured