FLORIDA ADJUSTER 2026 TEST PAPER QUESTIONS AND
ANSWERS GUARANTEE A+
✔✔negligence - ✔✔failure to use a reasonable degree of care that results in injury or
damage to another party
✔✔single limit liability - ✔✔fixed limit for each type of damage
✔✔split limit liability - ✔✔max paid for bodily injury of one person, max paid for bodily
injury of multiple persons, max paid for property damage
✔✔aggregate limit liability - ✔✔max payout per occurrence, max pay out per policy
period
✔✔statutory law - ✔✔based on written laws
✔✔tort law - ✔✔body of law that applies to civil court cases and addresses any civil
wrongdoings.
✔✔plaintiff - ✔✔the claimant in a court case
✔✔compliant - ✔✔filed by a claimant against a policy holder
✔✔answer - ✔✔policy holders response to a complaint
✔✔default judgement - ✔✔this is issued when a policy holder fails to answer a
complaint
✔✔adhesion - ✔✔A contract offered on a "take-it-or-leave-it" basis by an insurer, in
which the insured's only option is to accept or reject the contract.
✔✔insurer - ✔✔company/group offering financial protection
✔✔indemnity - ✔✔restoration to approximate previous financial condition; no more no
less
✔✔reserve - ✔✔pool of collected premiums that the insurer sets aside to pay claims
✔✔premium - ✔✔fee paid by the insured in exchange for an insurance policy
✔✔aleatory - ✔✔the execution on a contract depends on an unknown future event
✔✔conditional - ✔✔the insurer must only honor the contracts if the insured meets
certain conditions
, ✔✔unilateral contract - ✔✔only the insured can void the contract at any time
✔✔government/social insurers - ✔✔non profit insurer, mandatory participation, benefits
prescribed by law, designed to meet needs of the general public and the government
has monopoly
✔✔private insurers - ✔✔sell insurance based in consumer preferences
offer a wide variety of insurance products
typically exist to generate a profit or benefit a group
insured party voluntarily participates
✔✔stock insurers - ✔✔An insurance company owned and controlled by a group of
stockholders that is always for profit. stockholders provide capital and participate in
profit or losses. non participating insurers.
✔✔mutual insurers - ✔✔owned by policy holders that elect board of directors.
participating insurers.
✔✔re-insurer - ✔✔provides insurance for other insurers, pays a percentage of the
insurers losses, or any losses over a certain amount.
✔✔reciprocal insurers - ✔✔groups of people that provide insurance for one another;
each member is called a subscriber who pays an equal premium
✔✔fraternal benefits society insurance - ✔✔insurance used to fund altruistic activities,
must be assembled by law, members are providers and recipients, if claims payment
ability is impaired, members help pay the difference.
✔✔self insurers - ✔✔type of insurer that simply set aside money to protect against
potential losses rather than pay premiums.
✔✔captive insurers - ✔✔insurer created by businesses in order to retain risk. it exists to
provide insurance only for their 'parent' company. all profits belong to the parent
company, and only permitted in some states
✔✔risk retention group - ✔✔group owned by their members who assume the risk and
share profits. they provide commercial liability insurance, members must be involved in
similar business endeavors, do not need to be licensed in multiple states
✔✔domestic insurer - ✔✔insurer Located in a particular state, abides by that state's
laws
✔✔foreign insurer - ✔✔obeys a states or US laws but can be located elsewhere
ANSWERS GUARANTEE A+
✔✔negligence - ✔✔failure to use a reasonable degree of care that results in injury or
damage to another party
✔✔single limit liability - ✔✔fixed limit for each type of damage
✔✔split limit liability - ✔✔max paid for bodily injury of one person, max paid for bodily
injury of multiple persons, max paid for property damage
✔✔aggregate limit liability - ✔✔max payout per occurrence, max pay out per policy
period
✔✔statutory law - ✔✔based on written laws
✔✔tort law - ✔✔body of law that applies to civil court cases and addresses any civil
wrongdoings.
✔✔plaintiff - ✔✔the claimant in a court case
✔✔compliant - ✔✔filed by a claimant against a policy holder
✔✔answer - ✔✔policy holders response to a complaint
✔✔default judgement - ✔✔this is issued when a policy holder fails to answer a
complaint
✔✔adhesion - ✔✔A contract offered on a "take-it-or-leave-it" basis by an insurer, in
which the insured's only option is to accept or reject the contract.
✔✔insurer - ✔✔company/group offering financial protection
✔✔indemnity - ✔✔restoration to approximate previous financial condition; no more no
less
✔✔reserve - ✔✔pool of collected premiums that the insurer sets aside to pay claims
✔✔premium - ✔✔fee paid by the insured in exchange for an insurance policy
✔✔aleatory - ✔✔the execution on a contract depends on an unknown future event
✔✔conditional - ✔✔the insurer must only honor the contracts if the insured meets
certain conditions
, ✔✔unilateral contract - ✔✔only the insured can void the contract at any time
✔✔government/social insurers - ✔✔non profit insurer, mandatory participation, benefits
prescribed by law, designed to meet needs of the general public and the government
has monopoly
✔✔private insurers - ✔✔sell insurance based in consumer preferences
offer a wide variety of insurance products
typically exist to generate a profit or benefit a group
insured party voluntarily participates
✔✔stock insurers - ✔✔An insurance company owned and controlled by a group of
stockholders that is always for profit. stockholders provide capital and participate in
profit or losses. non participating insurers.
✔✔mutual insurers - ✔✔owned by policy holders that elect board of directors.
participating insurers.
✔✔re-insurer - ✔✔provides insurance for other insurers, pays a percentage of the
insurers losses, or any losses over a certain amount.
✔✔reciprocal insurers - ✔✔groups of people that provide insurance for one another;
each member is called a subscriber who pays an equal premium
✔✔fraternal benefits society insurance - ✔✔insurance used to fund altruistic activities,
must be assembled by law, members are providers and recipients, if claims payment
ability is impaired, members help pay the difference.
✔✔self insurers - ✔✔type of insurer that simply set aside money to protect against
potential losses rather than pay premiums.
✔✔captive insurers - ✔✔insurer created by businesses in order to retain risk. it exists to
provide insurance only for their 'parent' company. all profits belong to the parent
company, and only permitted in some states
✔✔risk retention group - ✔✔group owned by their members who assume the risk and
share profits. they provide commercial liability insurance, members must be involved in
similar business endeavors, do not need to be licensed in multiple states
✔✔domestic insurer - ✔✔insurer Located in a particular state, abides by that state's
laws
✔✔foreign insurer - ✔✔obeys a states or US laws but can be located elsewhere
