Page 1 of 308
FLORIDA ADJUSTER LICENSING EXAM COMPLETE
WITH 500 QUESTIONS AND DETAILED SOLUTIONS
LATEST UPDATE THIS YEAR
FLORIDA ADJUSTER LICENSING
QUESTION: Which of the following refers to being restored to the financial condition you were
in before a loss?
Indemnification
Restoration
Estoppel
Subrogation - ANSWER-Indemnification
QUESTION: Bobby just purchased an insurance policy for his home from XYZ Insurance. Which
of the following would be
a reason this policy may not be legally binding?
Bobby has an outstanding warrant for selling marijuana.
Bobby has been diagnosed with schizophrenia.
Bobby paid his first premium when he and his agent agreed on a policy, but he is waiting for the
policy documents to be prepared so he can sign them
Bobby is only 19 years old. - ANSWER-Bobby has been diagnosed with schizophrenia.
1
,Page 2 of 308
QUESTION: Indemnification may include all of the following except:
reimbursement for hotel costs.
reimbursement for rental car costs.
payment for pain and suffering.
payment for repairs to property. - ANSWER-payment for pain and suffering.
QUESTION: Which of the following is NOT a requirement for a legally binding contract?
There must be a legal purpose.
There must be mutual consent.
Both parties must bring something of value.
It must be a notarized document. - ANSWER-It must be a notarized document.
QUESTION: The fee paid by the insured in exchange for an insurance policy is called a:
premium.
legal purpose.
binder.
contract. - ANSWER-premium
2
,Page 3 of 308
QUESTION: Which of the following best defines the principle of indemnity?
Both parties to an insurance contract must contribute something of value.
After a loss, the insured should be restored to his approximate financial condition before the
loss.
In order to be legally binding, a contract must have agreement, consideration, competent
parties, and
legal purpose.
In exchange for a premium, the insurer grants peace of mind by reducing the insured's
insecurity about
the future. - ANSWER-After a loss, the insured should be restored to his approximate financial
condition before the loss.
QUESTION: Which of the following is found in the declarations page of an insurance policy?
The perils insured against
A description of how to file a claim
The obligations of the insured after a loss
The name of the insured party - ANSWER-The name of the insured party
3
, Page 4 of 308
QUESTION: In which section of an insurance policy might you find the following statement?
"'We, us, and our' refers to
ABC Insurance company."
Definitions
Declarations
Conditions
Exclusions - ANSWER-Definitions
While driving, Ben was struck by another driver, Roxanne. Ben then filed a claim with Roxanne's
insurer. In
essence, what was Ben doing when he filed this claim?
Alerting Roxanne's insurer of his intent to take the case to court
Submitting a formal request to settle the damages with Roxanne's insurer
Ordering Roxanne's insurer to pay for his damages within 15 days
Admitting he was actually "at fault" - ANSWER-Submitting a formal request to settle the
damages with Roxanne's insurer
QUESTION: Mark incurred $8,000 damage to his car in an accident. He received $8,000 from his
insurance company and
$4,000 from the other driver. By receiving a profit from the loss, Mark could be in violation of:
4
FLORIDA ADJUSTER LICENSING EXAM COMPLETE
WITH 500 QUESTIONS AND DETAILED SOLUTIONS
LATEST UPDATE THIS YEAR
FLORIDA ADJUSTER LICENSING
QUESTION: Which of the following refers to being restored to the financial condition you were
in before a loss?
Indemnification
Restoration
Estoppel
Subrogation - ANSWER-Indemnification
QUESTION: Bobby just purchased an insurance policy for his home from XYZ Insurance. Which
of the following would be
a reason this policy may not be legally binding?
Bobby has an outstanding warrant for selling marijuana.
Bobby has been diagnosed with schizophrenia.
Bobby paid his first premium when he and his agent agreed on a policy, but he is waiting for the
policy documents to be prepared so he can sign them
Bobby is only 19 years old. - ANSWER-Bobby has been diagnosed with schizophrenia.
1
,Page 2 of 308
QUESTION: Indemnification may include all of the following except:
reimbursement for hotel costs.
reimbursement for rental car costs.
payment for pain and suffering.
payment for repairs to property. - ANSWER-payment for pain and suffering.
QUESTION: Which of the following is NOT a requirement for a legally binding contract?
There must be a legal purpose.
There must be mutual consent.
Both parties must bring something of value.
It must be a notarized document. - ANSWER-It must be a notarized document.
QUESTION: The fee paid by the insured in exchange for an insurance policy is called a:
premium.
legal purpose.
binder.
contract. - ANSWER-premium
2
,Page 3 of 308
QUESTION: Which of the following best defines the principle of indemnity?
Both parties to an insurance contract must contribute something of value.
After a loss, the insured should be restored to his approximate financial condition before the
loss.
In order to be legally binding, a contract must have agreement, consideration, competent
parties, and
legal purpose.
In exchange for a premium, the insurer grants peace of mind by reducing the insured's
insecurity about
the future. - ANSWER-After a loss, the insured should be restored to his approximate financial
condition before the loss.
QUESTION: Which of the following is found in the declarations page of an insurance policy?
The perils insured against
A description of how to file a claim
The obligations of the insured after a loss
The name of the insured party - ANSWER-The name of the insured party
3
, Page 4 of 308
QUESTION: In which section of an insurance policy might you find the following statement?
"'We, us, and our' refers to
ABC Insurance company."
Definitions
Declarations
Conditions
Exclusions - ANSWER-Definitions
While driving, Ben was struck by another driver, Roxanne. Ben then filed a claim with Roxanne's
insurer. In
essence, what was Ben doing when he filed this claim?
Alerting Roxanne's insurer of his intent to take the case to court
Submitting a formal request to settle the damages with Roxanne's insurer
Ordering Roxanne's insurer to pay for his damages within 15 days
Admitting he was actually "at fault" - ANSWER-Submitting a formal request to settle the
damages with Roxanne's insurer
QUESTION: Mark incurred $8,000 damage to his car in an accident. He received $8,000 from his
insurance company and
$4,000 from the other driver. By receiving a profit from the loss, Mark could be in violation of:
4
