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FLORIDA ADJUSTER LICENSING
PRACTICE EXAM QUESTIONS AND
VERIFIED ANSWERS
Terms in this set (27)
>> A claim in the property/casualty industry Is defined as:
- correct answer- an assertion of an alleged legal right against a person, entity, company or insurer
that carries with it a demand for money as compensation for injuries or damages
>> when you purchase insurance, you are buying:
- correct answer- peace of mind that if an insured event does occur, that the insurance company
will keep its promise and provide the financial protection that you purchased
>> in today's society, the most important factor in the purchase of insurance is:
- correct answer- trust
>> One of the most important claim handling goals of an insurance company is:
- correct answer- to help those who have been injured or who have suffered loss for which the
insured is responsible, while at the same time minimizing loss for the insured party and carrier
>> what is the primary difference between a company employee adjuster and an independent
adjuster
- correct answer- a company employee adjuster works for an insurance company and an
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independent adjuster works independently for themselves or for adjusting firms who represent
many clients
>> an adjuster's responsibility as a fiduciary means:
- correct answer- the adjuster represents, and controls, the property and financial interests of the
client to whom he/she owes a high degree of loyalty and good faith
>> the basic and primary functions of an adjuster are:
- correct answer- investigating, evaluating, reporting, negotiating and disposing of claims
>> once an adjuster is licensed, he or she must maintain a continuing education requirement.
What is that adjuster's compliance requirement in order to retain a license?
- correct answer- an adjuster must complete 24 hours of continuing education in every 2 year
compliance period, of which 5 hours must be taken in a properly certified 5 hour law and ethics
update course
>> the adjuster's code of ethics starts with a basic premise which states:
- correct answer- the work of adjusting engages the public trust
>> Which of the following would NOT be a preferred claims practice or behavior under FL
Unfair Insurance Trade Practices Act?
- correct answer- Not responding to an insured calls because you haven't made up your mind
>> what are the four critical elements of a contract?
- correct answer- 1. agreement to terms (must understand what is given and received)
2. adequate consideration for the promises made
FLORIDA ADJUSTER LICENSING
PRACTICE EXAM QUESTIONS AND
VERIFIED ANSWERS
Terms in this set (27)
>> A claim in the property/casualty industry Is defined as:
- correct answer- an assertion of an alleged legal right against a person, entity, company or insurer
that carries with it a demand for money as compensation for injuries or damages
>> when you purchase insurance, you are buying:
- correct answer- peace of mind that if an insured event does occur, that the insurance company
will keep its promise and provide the financial protection that you purchased
>> in today's society, the most important factor in the purchase of insurance is:
- correct answer- trust
>> One of the most important claim handling goals of an insurance company is:
- correct answer- to help those who have been injured or who have suffered loss for which the
insured is responsible, while at the same time minimizing loss for the insured party and carrier
>> what is the primary difference between a company employee adjuster and an independent
adjuster
- correct answer- a company employee adjuster works for an insurance company and an
, Page 2 of 5
independent adjuster works independently for themselves or for adjusting firms who represent
many clients
>> an adjuster's responsibility as a fiduciary means:
- correct answer- the adjuster represents, and controls, the property and financial interests of the
client to whom he/she owes a high degree of loyalty and good faith
>> the basic and primary functions of an adjuster are:
- correct answer- investigating, evaluating, reporting, negotiating and disposing of claims
>> once an adjuster is licensed, he or she must maintain a continuing education requirement.
What is that adjuster's compliance requirement in order to retain a license?
- correct answer- an adjuster must complete 24 hours of continuing education in every 2 year
compliance period, of which 5 hours must be taken in a properly certified 5 hour law and ethics
update course
>> the adjuster's code of ethics starts with a basic premise which states:
- correct answer- the work of adjusting engages the public trust
>> Which of the following would NOT be a preferred claims practice or behavior under FL
Unfair Insurance Trade Practices Act?
- correct answer- Not responding to an insured calls because you haven't made up your mind
>> what are the four critical elements of a contract?
- correct answer- 1. agreement to terms (must understand what is given and received)
2. adequate consideration for the promises made
