Florida ADJUSTERS License 6-20
2025/2026 Exam Questions and Correct
Answers | New Update
What is an Insurance Policy - 🧠 ANSWER ✔✔An Insurance Policy is a
Contract (agreement between 2 parties)
Insurance Policy in the state of Florida must be? - 🧠 ANSWER ✔✔Written
in order to constitute a policy
Legal Definition of Insurance - 🧠 ANSWER ✔✔Contract that undertakes to
indemnity, or make whole, or pay a certain amount in the event a covered
loss occurs.
Consideration - 🧠 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 - 🧠 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 - 🧠 ANSWER
✔✔5days notice is required to cancel binder
Property Insurance - 🧠 ANSWER ✔✔Payment made to the insured or
others with interest simular to insured (mortgage holder)
Liability Insurance - 🧠 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:
- 🧠 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
2025/2026 Exam Questions and Correct
Answers | New Update
What is an Insurance Policy - 🧠 ANSWER ✔✔An Insurance Policy is a
Contract (agreement between 2 parties)
Insurance Policy in the state of Florida must be? - 🧠 ANSWER ✔✔Written
in order to constitute a policy
Legal Definition of Insurance - 🧠 ANSWER ✔✔Contract that undertakes to
indemnity, or make whole, or pay a certain amount in the event a covered
loss occurs.
Consideration - 🧠 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 - 🧠 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 - 🧠 ANSWER
✔✔5days notice is required to cancel binder
Property Insurance - 🧠 ANSWER ✔✔Payment made to the insured or
others with interest simular to insured (mortgage holder)
Liability Insurance - 🧠 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:
- 🧠 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
