InsFL-PubAdj20 FLA Public All Lines Adjuster
(0320, 7320) Exam
1. What is the primary role of a public adjuster in the claims process?
A) To represent the insurance company
B) To ensure policyholder interests are represented
C) To negotiate claims on behalf of contractors
D) To conduct investigations into fraudulent claims
Answer: B) To ensure policyholder interests are represented
Explanation: A public adjuster works on behalf of the policyholder to
advocate for their best interests during the claims process, ensuring they
receive the appropriate compensation based on their policy.
2. Which of the following is NOT a type of homeowner’s policy?
A) HO-1
B) HO-2
C) HO-5
D) HO-9
Answer: D) HO-9
Explanation: The HO-1 to HO-8 forms are recognized types of homeowner's
insurance policies. There is no HO-9 form.
, InsFL-PubAdj20 FLA Public All Lines Adjuster
(0320, 7320) Exam
3. What is a common coverage limitation of commercial property insurance?
A) Personal liability coverage
B) Exclusion of flood damage
C) Replacement cost coverage
D) Coverage for natural disasters
Answer: B) Exclusion of flood damage
Explanation: Most commercial property insurance policies have a standard
exclusion for flood damage, which typically requires separate flood
insurance.
4. What does the term "actual cash value" mean in loss adjusting?
A) The total cost of repairs
B) Replacement cost minus depreciation
C) The market value of the property
D) The insured value set by the policy
Answer: B) Replacement cost minus depreciation
Explanation: Actual cash value (ACV) is calculated as the replacement cost of
the property minus any depreciation that has occurred.
, InsFL-PubAdj20 FLA Public All Lines Adjuster
(0320, 7320) Exam
5. What ethical responsibility do public adjusters have towards their clients?
A) To prioritize profit margins
B) To disclose all financial information
C) To act in the best interest of the policyholders
D) To maintain favoritism towards insurance companies
Answer: C) To act in the best interest of the policyholders
Explanation: Public adjusters are ethically required to prioritize the best
interests of the policyholders they represent throughout the claims process.
6. Which Florida statute regulates the conduct of public adjusters?
A) Chapter 627
B) Chapter 626
C) Chapter 631
D) Chapter 645
Answer: B) Chapter 626
Explanation: Florida Statutes Chapter 626 governs the licensing and conduct
of insurance adjusters, including public adjusters.
7. In Florida, what is a requirement for renewing a public adjuster's license?
A) Completing 20 hours of continuing education
, InsFL-PubAdj20 FLA Public All Lines Adjuster
(0320, 7320) Exam
B) Passing a state examination
C) Attending a national conference
D) Submitting to a background check
Answer: A) Completing 20 hours of continuing education
Explanation: Florida requires public adjusters to complete continuing
education courses for the renewal of their licenses.
8. Which type of insurance covers damages caused by earthquakes?
A) Homeowners insurance
B) Flood insurance
C) Earthquake insurance
D) Standard dwelling policy
Answer: C) Earthquake insurance
Explanation: Earthquake insurance specifically covers damages resulting from
seismic activity, which is typically not included in standard homeowners
policies.
9. What is a crucial first step in the claims investigation process?
A) Documenting the claim
B) Negotiating with the insurer
(0320, 7320) Exam
1. What is the primary role of a public adjuster in the claims process?
A) To represent the insurance company
B) To ensure policyholder interests are represented
C) To negotiate claims on behalf of contractors
D) To conduct investigations into fraudulent claims
Answer: B) To ensure policyholder interests are represented
Explanation: A public adjuster works on behalf of the policyholder to
advocate for their best interests during the claims process, ensuring they
receive the appropriate compensation based on their policy.
2. Which of the following is NOT a type of homeowner’s policy?
A) HO-1
B) HO-2
C) HO-5
D) HO-9
Answer: D) HO-9
Explanation: The HO-1 to HO-8 forms are recognized types of homeowner's
insurance policies. There is no HO-9 form.
, InsFL-PubAdj20 FLA Public All Lines Adjuster
(0320, 7320) Exam
3. What is a common coverage limitation of commercial property insurance?
A) Personal liability coverage
B) Exclusion of flood damage
C) Replacement cost coverage
D) Coverage for natural disasters
Answer: B) Exclusion of flood damage
Explanation: Most commercial property insurance policies have a standard
exclusion for flood damage, which typically requires separate flood
insurance.
4. What does the term "actual cash value" mean in loss adjusting?
A) The total cost of repairs
B) Replacement cost minus depreciation
C) The market value of the property
D) The insured value set by the policy
Answer: B) Replacement cost minus depreciation
Explanation: Actual cash value (ACV) is calculated as the replacement cost of
the property minus any depreciation that has occurred.
, InsFL-PubAdj20 FLA Public All Lines Adjuster
(0320, 7320) Exam
5. What ethical responsibility do public adjusters have towards their clients?
A) To prioritize profit margins
B) To disclose all financial information
C) To act in the best interest of the policyholders
D) To maintain favoritism towards insurance companies
Answer: C) To act in the best interest of the policyholders
Explanation: Public adjusters are ethically required to prioritize the best
interests of the policyholders they represent throughout the claims process.
6. Which Florida statute regulates the conduct of public adjusters?
A) Chapter 627
B) Chapter 626
C) Chapter 631
D) Chapter 645
Answer: B) Chapter 626
Explanation: Florida Statutes Chapter 626 governs the licensing and conduct
of insurance adjusters, including public adjusters.
7. In Florida, what is a requirement for renewing a public adjuster's license?
A) Completing 20 hours of continuing education
, InsFL-PubAdj20 FLA Public All Lines Adjuster
(0320, 7320) Exam
B) Passing a state examination
C) Attending a national conference
D) Submitting to a background check
Answer: A) Completing 20 hours of continuing education
Explanation: Florida requires public adjusters to complete continuing
education courses for the renewal of their licenses.
8. Which type of insurance covers damages caused by earthquakes?
A) Homeowners insurance
B) Flood insurance
C) Earthquake insurance
D) Standard dwelling policy
Answer: C) Earthquake insurance
Explanation: Earthquake insurance specifically covers damages resulting from
seismic activity, which is typically not included in standard homeowners
policies.
9. What is a crucial first step in the claims investigation process?
A) Documenting the claim
B) Negotiating with the insurer
