Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review
Questions With Correct Answers
ccur
sureds
2. cHazard: cSomething cthat cincreases cthe cprobability cthat ca closs cwill co
3. cWarranty: cA cpolicy ccondition, ceither cbased con cinformation cin cthe cincc
4. Misrepresentation: cAn cuntrue cstatement cby cthe cinsured, cmade cin can
capplication
for cinsurance cbut cwhich cdoes cnot cbecome ca cpart cof cthe cpolicy.
5. Concealment: cThe cfailure cof cthe cinsured cto creveal crelevant cfacts
cknown cto cthe cinsured cin capplying cfor cinsurance.
6. Abandonment: cProperty cinsurance cpolicies cusuallyandonme
ccontain can cab cclause, cstating cthe cinsured ccannot cdump nt csurer
cdamaged cproperty con cthe cin cdemand cits cfull cvalue.
7. Severability: cThe cinsurance capplies cseparately cto ceach if cother
cinsured cas csureds cdid cnot cexist. cin-
8.Proximate cCause: cThe ccause chaving cthe cmost csignificant cimpact cin
e cpolicy,
cbringing cabout cthe closs cunder ca cfirst-party cproperty cinsurance
cwhen ctwo cor cmor cindependen
perils coperate cat cthe csame ctime c(i.e., cconcurrently) cto t courts
cemploy
1 c/
cates cthat cit
,cproduce ca closs. cC ca cset cof crules cto cresolve ccausation
cdisputes cwhen ca cproperty cpolicy cst ccovers cor cexcludes
closses c"caused cby" ca cperil cand cthere cis cmore cthan cwork cin
ca cfact cpattern. cUnder ccommon claw, cwhether cthe cpolicy
cprovid cdepends con cwhich cperil cis cchosen cas cthe cproximate
ccause.
9. Direct cLoss: cPhysical charm cto ctangible cproperty.
2 c/
, Florida cClaims cAdjuster cExam, c6-20 cAll cLines cAdjuster- cFlorida-
cReview
Study conline cat chttps://quizlet.com/_8ewcxd oss
10. cIndirect cLoss: cEconomic closs cwhich cflows cas ca cresult cof cdirect cl
11. cActual cCash cValue(ACV): cReplacement cCost cminus cDepreciat
io
12.Coinsurance: cThe camount, cgenerally cexpressed cas ca cfixed
cpercentage, can
insured cmust cpay cagainst ca cclaim cafter cthe cdeductible cis csatisfied. cIt's
cultimately ca cway cfor cthe cinsured cand cinsurer cto cshare cresponsibility
an calso
cfor cthe crisk. cIt cc c creduce cthe ccost cof cthe cinsurance cpolicy
cpremium. cCoinsurance ccan cbe cwritten con can c80/20, c90/100, cor c100%
crule. hings, csuch
13.Personal cContract: cPolicies ccover cpeople cwho cown cand cas
coperate ct cautomobiles.
14.Conditional cContract: cAlso ccalled ca chypothetical ccontract, cis ca
ccontract cagree- cment cthat conly crequires cperformance conce cre cmet.
the
cdelineated cconditions ca cThis
legal cagreement crequires cprior cperformance cof canother cclause c in
cagreement cor corder cto cbe cenforceable. cIf cthe cother ced, cthen
cagreement cor ccondition cis cperform cconditional ccontract cis
cenforceable cand cthe cparties care cbound cto ccarry cof cthe
ccontract. hen ca closs
15.Contract cof cIndemnity: cPrinciple cof cinsurance cthat cndition
cprovides cthat cw coccurs, cthe cinsured cshould cbe crestored cto
cthe capproximate cfinancial cco coccupied cbefore cthe closs
coccurred, cno cbetter cor cno cworse.
16.Insurable cInterest: cthe creasonable cconcern cof ca cperson cto urance
cobtain cins cany cindividual cor cproperty cagainst cunforeseen cfor cses,
cevents csuch cas cdeath, clos
3 c/
, Florida cClaims cAdjuster cExam, c6-20 cAll cLines cAdjuster- cFlorida-
cReview
17.Waiver:
Study cc1.) cImplied
online cvoluntary crelinquishment, cabandoning ca clegal
cat chttps://quizlet.com/_8ewcxd
c advantage,
10. cneed,
cIndirect cLoss: cclaim cor ccright.
cEconomic loss cwhich cflows cas ca cresult cof cdirect cl
2.) cAgreement cor cadded cclause cof ca cpolicy cthat cexcludes csome closses
cor climits cthe csum cof ca cclaim, cor cextends ccoverage cto cadd citems cnot
cin ca cnormal cpolicy.
18.Express cWaiver: cOccurs cwhen cthe cinsurer cor cits crepresentative
cknowingly cgives cup ca cknown cright cunder cthe cinsurance ccontract.
4 c/
Questions With Correct Answers
ccur
sureds
2. cHazard: cSomething cthat cincreases cthe cprobability cthat ca closs cwill co
3. cWarranty: cA cpolicy ccondition, ceither cbased con cinformation cin cthe cincc
4. Misrepresentation: cAn cuntrue cstatement cby cthe cinsured, cmade cin can
capplication
for cinsurance cbut cwhich cdoes cnot cbecome ca cpart cof cthe cpolicy.
5. Concealment: cThe cfailure cof cthe cinsured cto creveal crelevant cfacts
cknown cto cthe cinsured cin capplying cfor cinsurance.
6. Abandonment: cProperty cinsurance cpolicies cusuallyandonme
ccontain can cab cclause, cstating cthe cinsured ccannot cdump nt csurer
cdamaged cproperty con cthe cin cdemand cits cfull cvalue.
7. Severability: cThe cinsurance capplies cseparately cto ceach if cother
cinsured cas csureds cdid cnot cexist. cin-
8.Proximate cCause: cThe ccause chaving cthe cmost csignificant cimpact cin
e cpolicy,
cbringing cabout cthe closs cunder ca cfirst-party cproperty cinsurance
cwhen ctwo cor cmor cindependen
perils coperate cat cthe csame ctime c(i.e., cconcurrently) cto t courts
cemploy
1 c/
cates cthat cit
,cproduce ca closs. cC ca cset cof crules cto cresolve ccausation
cdisputes cwhen ca cproperty cpolicy cst ccovers cor cexcludes
closses c"caused cby" ca cperil cand cthere cis cmore cthan cwork cin
ca cfact cpattern. cUnder ccommon claw, cwhether cthe cpolicy
cprovid cdepends con cwhich cperil cis cchosen cas cthe cproximate
ccause.
9. Direct cLoss: cPhysical charm cto ctangible cproperty.
2 c/
, Florida cClaims cAdjuster cExam, c6-20 cAll cLines cAdjuster- cFlorida-
cReview
Study conline cat chttps://quizlet.com/_8ewcxd oss
10. cIndirect cLoss: cEconomic closs cwhich cflows cas ca cresult cof cdirect cl
11. cActual cCash cValue(ACV): cReplacement cCost cminus cDepreciat
io
12.Coinsurance: cThe camount, cgenerally cexpressed cas ca cfixed
cpercentage, can
insured cmust cpay cagainst ca cclaim cafter cthe cdeductible cis csatisfied. cIt's
cultimately ca cway cfor cthe cinsured cand cinsurer cto cshare cresponsibility
an calso
cfor cthe crisk. cIt cc c creduce cthe ccost cof cthe cinsurance cpolicy
cpremium. cCoinsurance ccan cbe cwritten con can c80/20, c90/100, cor c100%
crule. hings, csuch
13.Personal cContract: cPolicies ccover cpeople cwho cown cand cas
coperate ct cautomobiles.
14.Conditional cContract: cAlso ccalled ca chypothetical ccontract, cis ca
ccontract cagree- cment cthat conly crequires cperformance conce cre cmet.
the
cdelineated cconditions ca cThis
legal cagreement crequires cprior cperformance cof canother cclause c in
cagreement cor corder cto cbe cenforceable. cIf cthe cother ced, cthen
cagreement cor ccondition cis cperform cconditional ccontract cis
cenforceable cand cthe cparties care cbound cto ccarry cof cthe
ccontract. hen ca closs
15.Contract cof cIndemnity: cPrinciple cof cinsurance cthat cndition
cprovides cthat cw coccurs, cthe cinsured cshould cbe crestored cto
cthe capproximate cfinancial cco coccupied cbefore cthe closs
coccurred, cno cbetter cor cno cworse.
16.Insurable cInterest: cthe creasonable cconcern cof ca cperson cto urance
cobtain cins cany cindividual cor cproperty cagainst cunforeseen cfor cses,
cevents csuch cas cdeath, clos
3 c/
, Florida cClaims cAdjuster cExam, c6-20 cAll cLines cAdjuster- cFlorida-
cReview
17.Waiver:
Study cc1.) cImplied
online cvoluntary crelinquishment, cabandoning ca clegal
cat chttps://quizlet.com/_8ewcxd
c advantage,
10. cneed,
cIndirect cLoss: cclaim cor ccright.
cEconomic loss cwhich cflows cas ca cresult cof cdirect cl
2.) cAgreement cor cadded cclause cof ca cpolicy cthat cexcludes csome closses
cor climits cthe csum cof ca cclaim, cor cextends ccoverage cto cadd citems cnot
cin ca cnormal cpolicy.
18.Express cWaiver: cOccurs cwhen cthe cinsurer cor cits crepresentative
cknowingly cgives cup ca cknown cright cunder cthe cinsurance ccontract.
4 c/
