FLORIDA CLAIMS ADJUSTER EXAM
WITH ANSWERS
Severability - CORRECT ANSWER-Insurance applies
separately to each insured as if other insureds did not exist.
Abandonment - CORRECT ANSWER-Property insurance
policies usually contain a(n) __________ clause, *stating the
insured cannot dump damaged property on the insurer and
demand its full value.*
Insurable Interest - CORRECT ANSWER-One wherein
economic loss would be suffered from an adverse happening to
the subject.
Liberalization - CORRECT ANSWER-States that if the insurer
adopts a revision which would broaden coverage without
additional premium within some period of time prior to the
policy period or during the policy period, the insured receives
the benefit of such broadened coverage..
Doctrine of Proximate Cause - CORRECT ANSWER-States
that when there is an unbroken connection between an
occurrence and damage that grows out of the occurrence, then
the resultant damage is all a part of the occurrence.
Actual Cash Value - CORRECT ANSWER-The Loss
Settlement Valuation that subtracts an allowance for
depreciation
Warranty - CORRECT ANSWER-A policy condition, either
based on information in the insured's application or inserted by
the insurer
,Conditional Contract - CORRECT ANSWER-The Insurer's
responsibility to pay for a property loss may be conditioned on
the insured having used reasonable means to avoid the loss, to
protect the property against further loss, and to give the insurer
proof of the loss is defined as?
Under Mechanical Breakdown Coverage, *new cars are eligible
for service up to:* - CORRECT ANSWER-36 Months/36,000
Miles
Used vehicles: 12 Months/12,000 Miles
If financial responsibility doesn't exist at the time of an accident,
what happens? - CORRECT ANSWER-The legally valid claims
of others must be satisfied (10/20/10)
The owner and operator must provide certification of future
responsibility for future accidents
As to required proof for future accidents by purchase of auto
liability insurance, the insurer must make a filing (Form SR-22)
certifying that coverage is in effect, and this certification must
remain on file for __________ years - CORRECT ANSWER-3
The Business Automobile Policy includes all of the following
coverage forms except: - CORRECT ANSWER-The Trailer
Interchange Coverage Form
Personal Injury Protection, or PIP, has a __________ per
person, per accident limit. - CORRECT ANSWER-10,000
Used to insure businesses engaged in selling, servicing,
repairing, parking or storing automobiles: - CORRECT
ANSWER-Garage Coverage Form
,The following examples are referred to as __________ liability
limits: 25/50/25 or 10/20/10. - CORRECT ANSWER-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? - CORRECT
ANSWER-$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? - CORRECT ANSWER-
$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? - CORRECT ANSWER-Age & Gender of
Insured
On a Homeowner's Policy, covers items that are not
permanently attached to the dwelling. This is defined as: -
CORRECT ANSWER-Other Structures
Examples include sheds, fences, pool houses, detached car
ports, etc.
, A lender has an insurable interest in a home and finds
protection in the: - CORRECT ANSWER-Mortgagee Clause
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy
Which of the following forms is "all-risk" on the dwelling policy?
- CORRECT ANSWER-DP-3, or the Special Form
When the basic liability limits provided by the policy are
insufficient for an insureds needs, two coverage forms are used
to provide the additional amounts of coverage:
A. Excess Liability
B. Umbrella
C. Both A & B
D. None of the Above - CORRECT ANSWER-Both A & B
Which of the following is not covered under Coverage C,
Personal Property?
A. A fire breaks out in the residence and an overnight guest
loses his clothes in the fire
B. A fish dies because he has been left alone for a week
without food
C. The insureds daughters tennis racket is stolen from her
locker
D. The insureds suitcase and clothing, valued at $1,500, are
stolen from his hotel - CORRECT ANSWER-B. A fish dies
because he has been left alone for a week without food
Animals are listed as an "exclusion" under a Homeowner's
policy.
All of the following are eligible for a Homeowner's Policy,
except?
A. An apartment tenant
WITH ANSWERS
Severability - CORRECT ANSWER-Insurance applies
separately to each insured as if other insureds did not exist.
Abandonment - CORRECT ANSWER-Property insurance
policies usually contain a(n) __________ clause, *stating the
insured cannot dump damaged property on the insurer and
demand its full value.*
Insurable Interest - CORRECT ANSWER-One wherein
economic loss would be suffered from an adverse happening to
the subject.
Liberalization - CORRECT ANSWER-States that if the insurer
adopts a revision which would broaden coverage without
additional premium within some period of time prior to the
policy period or during the policy period, the insured receives
the benefit of such broadened coverage..
Doctrine of Proximate Cause - CORRECT ANSWER-States
that when there is an unbroken connection between an
occurrence and damage that grows out of the occurrence, then
the resultant damage is all a part of the occurrence.
Actual Cash Value - CORRECT ANSWER-The Loss
Settlement Valuation that subtracts an allowance for
depreciation
Warranty - CORRECT ANSWER-A policy condition, either
based on information in the insured's application or inserted by
the insurer
,Conditional Contract - CORRECT ANSWER-The Insurer's
responsibility to pay for a property loss may be conditioned on
the insured having used reasonable means to avoid the loss, to
protect the property against further loss, and to give the insurer
proof of the loss is defined as?
Under Mechanical Breakdown Coverage, *new cars are eligible
for service up to:* - CORRECT ANSWER-36 Months/36,000
Miles
Used vehicles: 12 Months/12,000 Miles
If financial responsibility doesn't exist at the time of an accident,
what happens? - CORRECT ANSWER-The legally valid claims
of others must be satisfied (10/20/10)
The owner and operator must provide certification of future
responsibility for future accidents
As to required proof for future accidents by purchase of auto
liability insurance, the insurer must make a filing (Form SR-22)
certifying that coverage is in effect, and this certification must
remain on file for __________ years - CORRECT ANSWER-3
The Business Automobile Policy includes all of the following
coverage forms except: - CORRECT ANSWER-The Trailer
Interchange Coverage Form
Personal Injury Protection, or PIP, has a __________ per
person, per accident limit. - CORRECT ANSWER-10,000
Used to insure businesses engaged in selling, servicing,
repairing, parking or storing automobiles: - CORRECT
ANSWER-Garage Coverage Form
,The following examples are referred to as __________ liability
limits: 25/50/25 or 10/20/10. - CORRECT ANSWER-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? - CORRECT
ANSWER-$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? - CORRECT ANSWER-
$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? - CORRECT ANSWER-Age & Gender of
Insured
On a Homeowner's Policy, covers items that are not
permanently attached to the dwelling. This is defined as: -
CORRECT ANSWER-Other Structures
Examples include sheds, fences, pool houses, detached car
ports, etc.
, A lender has an insurable interest in a home and finds
protection in the: - CORRECT ANSWER-Mortgagee Clause
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy
Which of the following forms is "all-risk" on the dwelling policy?
- CORRECT ANSWER-DP-3, or the Special Form
When the basic liability limits provided by the policy are
insufficient for an insureds needs, two coverage forms are used
to provide the additional amounts of coverage:
A. Excess Liability
B. Umbrella
C. Both A & B
D. None of the Above - CORRECT ANSWER-Both A & B
Which of the following is not covered under Coverage C,
Personal Property?
A. A fire breaks out in the residence and an overnight guest
loses his clothes in the fire
B. A fish dies because he has been left alone for a week
without food
C. The insureds daughters tennis racket is stolen from her
locker
D. The insureds suitcase and clothing, valued at $1,500, are
stolen from his hotel - CORRECT ANSWER-B. A fish dies
because he has been left alone for a week without food
Animals are listed as an "exclusion" under a Homeowner's
policy.
All of the following are eligible for a Homeowner's Policy,
except?
A. An apartment tenant
