ADJUSTERS License 6-20 Exam 2025
Questions and Answers
What is an Insurance Policy - --CORRECT ANSWER--An Insurance Policy is a
Contract (agreement between 2 parties)
Insurance Policy in the state of Florida must be? - --CORRECT ANSWER--
Written in order to constitute a policy
Legal Definition of Insurance - --CORRECT ANSWER--Contract that undertakes
to indemnity, or make whole, or pay a certain amount in the event a covered loss
occurs.
Consideration - --CORRECT ANSWER--Value for an Insurance contract is the
premium paid by insured and the promise given by insurance company
Temporary Insurance is put into effect by BINDERS - --CORRECT ANSWER--
Binders include all terms, conditions and exclusions contained in a policy and no
notice of cancellation or non renewal is required unless the binder has a term of
more then 60 days
Binder for automobile insurance are the EXCEPTION - --CORRECT ANSWER-
-5days notice is required to cancel binder
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, Property Insurance - --CORRECT ANSWER--Payment made to the insured or
others with interest simular to insured (mortgage holder)
Liability Insurance - --CORRECT ANSWER--Means a payment will be made to a
3rd party injured of damaged by the insured. An Insured can NEVER recover
damages from there own Liability Policy
All Property and Liability Insurance Contracts contain 4 fundamental parts: - --
CORRECT ANSWER--1.) Declaration: Contains info regarding the insured,
premium, period of coverage and liability.
2.) Insurance Agreement: defines the coverages contained within coverage.
3.) Exclusions: Eliminate coverage
4.) Conditions: Requirements that MUST be made Before payment will be made
1.) Property Adjuster receives notice of homeowners claim is Covered, Denied or
being investigated must be provided within? - --CORRECT ANSWER--30 days
2.) An insurer gives which of the following as Consideration for insurance policy? -
--CORRECT ANSWER--A Promise
3.) Which of the following is not found on the Declaration page of a policy? - --
CORRECT ANSWER--Conditions: Requirements that Must be made before
payment will be made.
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
Questions and Answers
What is an Insurance Policy - --CORRECT ANSWER--An Insurance Policy is a
Contract (agreement between 2 parties)
Insurance Policy in the state of Florida must be? - --CORRECT ANSWER--
Written in order to constitute a policy
Legal Definition of Insurance - --CORRECT ANSWER--Contract that undertakes
to indemnity, or make whole, or pay a certain amount in the event a covered loss
occurs.
Consideration - --CORRECT ANSWER--Value for an Insurance contract is the
premium paid by insured and the promise given by insurance company
Temporary Insurance is put into effect by BINDERS - --CORRECT ANSWER--
Binders include all terms, conditions and exclusions contained in a policy and no
notice of cancellation or non renewal is required unless the binder has a term of
more then 60 days
Binder for automobile insurance are the EXCEPTION - --CORRECT ANSWER-
-5days notice is required to cancel binder
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, Property Insurance - --CORRECT ANSWER--Payment made to the insured or
others with interest simular to insured (mortgage holder)
Liability Insurance - --CORRECT ANSWER--Means a payment will be made to a
3rd party injured of damaged by the insured. An Insured can NEVER recover
damages from there own Liability Policy
All Property and Liability Insurance Contracts contain 4 fundamental parts: - --
CORRECT ANSWER--1.) Declaration: Contains info regarding the insured,
premium, period of coverage and liability.
2.) Insurance Agreement: defines the coverages contained within coverage.
3.) Exclusions: Eliminate coverage
4.) Conditions: Requirements that MUST be made Before payment will be made
1.) Property Adjuster receives notice of homeowners claim is Covered, Denied or
being investigated must be provided within? - --CORRECT ANSWER--30 days
2.) An insurer gives which of the following as Consideration for insurance policy? -
--CORRECT ANSWER--A Promise
3.) Which of the following is not found on the Declaration page of a policy? - --
CORRECT ANSWER--Conditions: Requirements that Must be made before
payment will be made.
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
