Florida 3-20 Public Adjusters State Exam
The insurer and insured agree to a specific value of insured item
correct answers
Agreed Value
Policies
Someone who has care, custody or control of another's property
correct answers
Baile
e
Claim filed by policy holder against his _ correct answers First
Party Claim
When a person who entrusts another with an object and it results in injury
to someone
can be held liable for the injury to someone. Can be held liable for the injury
i.e.DWI
or Firearm
correct answers Negligent
Entrustment
Hazard that results from a conscious decision made by an insured to
participate
manner in a
or behavior more likely to result in a loss because they have
insuranceMoral
answers correct
Hazard
Used to provide temporary insurance coverage until an insurance policy
can be written
correct answers
Binder
Required by lenders to guarantee that outstanding loans against a job are
paid upon correct answers Completion
completion
Bonds
The section of an insurance policy identifying the insured, endorsements,
coverages,
limits, and premiums correct answers
Declarations
Policyholder cannot transfer the policy to someone else without written
permission
their fromcompany correct answers
insurance
Assignment
An instance, behavior or environment that increases the likelihood of a
loss on an
insured item correct answers
Hazard
Actual cause or source of an incidence of destruction, injury, or loss
correct answers
Peri
l
An insurance company organized and domiciled outside the US correct
answers Alien
When there is an unbroken chain of events between an occurrence and a
loss,isthen
loss partthe
of the original occurrence correct answers
Proximate Cause
Is proximate cause of all subsequent damages correct answers Original
Occurance
, An individual who contracts with an adjusting firm as an independent
contractor
handles and for the insurance companies correct answers
claims
Independent Adjuster
Action or practice of the insured party is permitted to continue because
any defense
against a continuation of said action or practice has been waived by the
insurer correct
answers
Estoppel
Operate for profit, collect premiums, reserve a portion of premiums to
pay claims
correct answers Commercial
Insurers
Any person who investigates or adjusts losses on behalf of either an
insurer or
insured a self-answers Independent
correct
Adjuster
The result of an insured's tort or wrongdoing. Consequences of a loss or
amount
of lossesor type
suffered correct answers
Damages
Requires the insured to insure the named property for a specific amount of
insuranceby
required asthe insurance company correct answers
Agreed Value
Physical harm to tangible property caused by peril (loss to property or
person inperil
covered which a proximate cause of damage or destruction) correct
is the
answers Direct
los
s
The entity that is the "recipient" to the Principal correct
answers Obligee
Insurance contracts are written on a take it or leave it basis to the policy
owner. correct
answers
Adhesion
Event or circumstance that causes damage correct answers
Occurance
Coverage provides for payment of losses if civil authority denies access to
the insured
premises due to a covered peril correct answers Civil
Authority
Voluntary relinquishment of a known legal right correct
answers Waiver
An insurer domiciled outside the state where it writes insurance
correct answers
Foreig
n
A state officer who administers the state's insurance laws and
regulations correct
answers
Commissioner
Used as a promise to accept a bid if awarded to a company correct
answers Bid bond
Damaged property an insurer takes over to reduce their loss after
paying aanswers
correct claim
Salvage
The insurer and insured agree to a specific value of insured item
correct answers
Agreed Value
Policies
Someone who has care, custody or control of another's property
correct answers
Baile
e
Claim filed by policy holder against his _ correct answers First
Party Claim
When a person who entrusts another with an object and it results in injury
to someone
can be held liable for the injury to someone. Can be held liable for the injury
i.e.DWI
or Firearm
correct answers Negligent
Entrustment
Hazard that results from a conscious decision made by an insured to
participate
manner in a
or behavior more likely to result in a loss because they have
insuranceMoral
answers correct
Hazard
Used to provide temporary insurance coverage until an insurance policy
can be written
correct answers
Binder
Required by lenders to guarantee that outstanding loans against a job are
paid upon correct answers Completion
completion
Bonds
The section of an insurance policy identifying the insured, endorsements,
coverages,
limits, and premiums correct answers
Declarations
Policyholder cannot transfer the policy to someone else without written
permission
their fromcompany correct answers
insurance
Assignment
An instance, behavior or environment that increases the likelihood of a
loss on an
insured item correct answers
Hazard
Actual cause or source of an incidence of destruction, injury, or loss
correct answers
Peri
l
An insurance company organized and domiciled outside the US correct
answers Alien
When there is an unbroken chain of events between an occurrence and a
loss,isthen
loss partthe
of the original occurrence correct answers
Proximate Cause
Is proximate cause of all subsequent damages correct answers Original
Occurance
, An individual who contracts with an adjusting firm as an independent
contractor
handles and for the insurance companies correct answers
claims
Independent Adjuster
Action or practice of the insured party is permitted to continue because
any defense
against a continuation of said action or practice has been waived by the
insurer correct
answers
Estoppel
Operate for profit, collect premiums, reserve a portion of premiums to
pay claims
correct answers Commercial
Insurers
Any person who investigates or adjusts losses on behalf of either an
insurer or
insured a self-answers Independent
correct
Adjuster
The result of an insured's tort or wrongdoing. Consequences of a loss or
amount
of lossesor type
suffered correct answers
Damages
Requires the insured to insure the named property for a specific amount of
insuranceby
required asthe insurance company correct answers
Agreed Value
Physical harm to tangible property caused by peril (loss to property or
person inperil
covered which a proximate cause of damage or destruction) correct
is the
answers Direct
los
s
The entity that is the "recipient" to the Principal correct
answers Obligee
Insurance contracts are written on a take it or leave it basis to the policy
owner. correct
answers
Adhesion
Event or circumstance that causes damage correct answers
Occurance
Coverage provides for payment of losses if civil authority denies access to
the insured
premises due to a covered peril correct answers Civil
Authority
Voluntary relinquishment of a known legal right correct
answers Waiver
An insurer domiciled outside the state where it writes insurance
correct answers
Foreig
n
A state officer who administers the state's insurance laws and
regulations correct
answers
Commissioner
Used as a promise to accept a bid if awarded to a company correct
answers Bid bond
Damaged property an insurer takes over to reduce their loss after
paying aanswers
correct claim
Salvage
