Claims Adjuster's Exam (FL) [100% Correct] 2025

Claims Adjuster's Exam (FL) [100% Correct] 2025 -$ 10,000 *$ 20,000* -$ 30,000 -$40,000 *Ans*An insured has A SPLIT limit liability policy with 10/20/10 limits. He owes the following people liability bodily injuries claims of: Passenger 1 = $12,000, Passenger 2 = $10,000, Passenger 3 = $18,000. How much liability insurance will his policy pay for these claims? -10 Days -30 Days -45 Days *60 Days* *Ans*Under the commercial property form, what length of time must expire before a building is considered "vacant", thus suspending some coverage's, while reducing payment on others? -A person who rents an apartment -A condominium owner -Owner-occupant of a four-family dwelling *A beach house owned by Acme Corporation* *Ans*All of the following are eligible for a Homeowners Policy EXCEPT: -Aggregate Limit -Split Limit -Single Limit *All of the above* *Ans*Liability limits may be expressed as a: -An insured's suitcase and clothing, valued at $1,500, stolen from his motel room while at a convention. -A fire breaks out in the residence and an overnight guest loses his clothes in the fire. -The insured's daughter's golf clubs are stolen from her locker at high school. *The dead fish when the insured accidentally overturns his tropical fish tank and all the fish die from lack of oxygen.* *Ans*Which of the following is NOT covered under the HO - Coverage C, Personal Property? -applies to school systems. -must have failure to use "due care." -considers the actions of a prudent person. *is assigned by law or statute* *Ans*Strict or absolute liability: -Barratry *Jettison* -Sue and labor -Running down clause *Ans*A ship loaded with lumber encountered a terrible storm, and some of the lumber was thrown overboard to save the ship - this action is called: -Division of Interests *Severability* -Specific Insurance -Insurability *Ans*An insurer may sever the interests of 2 insureds so that the insurer can protect an innocent party - this is the Doctrine of: -DP-1, or the basic form -DP-2, or the broad form *DP-3, or the special form* -None of the above, since "all risks" is not available on a dwelling policy *Ans*Which of the following forms is "all risks" on the dwelling policy? -I only -II only -III only *I, II, and III* *Ans*Which of the following is eligible for a Homeowners policy? I. Susie, who has purchased a condo unit for her residence. II. John, who buys a duplex and lives in one side. III. Sam, who rents an apartment for his residence. -Indemnity -Cohesion *Adhesion* -Conditions *Ans*An insurance contract may contain a "gray area" or an ambiguity, that is generally resolved in favor of the insured because insurance policies are contracts of: -Insurable Interest must exist at the time of the loss. -Insurance Interest must exist for insurance to respond. *Show a similarity between insurance and wagering* -The insured would suffer an economic loss. *Ans*All of the following describe insurable interest EXCEPT -It is a personal contract. -Parties are of unequal power with amb