Florida Claims Adjuster Exam - 3
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1. This optional provision states that if the insured becomes totally disabled,
premiums are waived but the coverage remains in force:
A. Waiver of Subrogation
B. Waiver of Premium
C. Waiver of Value
D. None of the Above: B. Waiver of Premium
"premiums are waived"
2. Frank owned a home that was destroyed by a hurricane. Both ABC and
XYZ Banks were listed as additional interests on his homeowner policy. The
insurance company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests: D. All listed interests
Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is
made by the insurer and it is up to the additional interests on working out their share.
3. Insurance applies *separately* to each insured as if other insureds did not
exist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above: A. Severability
4. Property insurance policies usually contain a(n) clause, stating the
insured cannot *dump damaged property* on the insurer and demand its full
value:
A. Pro Rata
B. Abandonment
, Florida Claims Adjuster Exam - 3
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C. Liberalization
D. All of the above: B. Abandonment
5. A(n) is one wherein economic loss would be suffered from an
adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest: D. Insurable Interest
6. States that if the insurer adopts a revision which would *broaden* coverage
without additional premium within some period of time prior to the policy
period or during the policy period, the insured receives the benefit of such
*broadened* coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization: D. Liberalization
The time frame is typically 60 days.
7. The states that when there is an unbroken connection between an
occurrence and damage that *grows* out of the occurrence, then the resultant
damage is all a part of the occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance: A. Doctrine of Proximate Cause
For example, if a property insurance policy covers the peril of fire but further damage is caused by smoke, water used
to extinguish, and the process of moving property away - fire is considered to be the *proximate cause* of all of the
damage.
, Florida Claims Adjuster Exam - 3
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8. The Loss Settlement Valuation that subtracts an allowance for depreciation is
defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above: A. Actual Cash Value
9. *A policy condition,* either based on information in the insured's application
or inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above: A. Warranty
10. The following are basic characteristics of a property or liability insurance
contract, except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion: C. Loss of Settlement Contract
11. The Insurer's responsibility to pay for a property loss *may be conditioned*
on the insured having used reasonable means to avoid the loss, to protect the
property against further loss, and to give the insurer proof of the loss is defined
as?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above: A. Conditional Contract
"may be conditioned"
12. Which of the following is not one of the "Thresholds" in the "No-Fault" law?
, Florida Claims Adjuster Exam - 3
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A. Death of the Insured
B. Temporary Injury of the Insured
C. A permanent loss of a bodily function
D. Permanent scarring on the face of the insured: B. Temporary Injury of the Insured
Also included: permanent injury other than scarring and disfigurement
13. Under Mechanical Breakdown Coverage, new cars are eligible for service up
to:
A. 36 Months/36,000 Miles
B. 24 Months/36,000 Miles
C. 12,000 Months/12,000 Miles
D. 12 Months/36,000 Miles: A. 36 Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
14. If financial responsibility doesn't exist at the time of an accident, which of the
following things must happen to avoid penalties?
A. The legally valid claims of others must be satisfied (up to 10/20/10)
B. The owner and operator must provide certification of future responsibility
for future accidents
C. Both A & B
D. None of the Above: C. Both A & B
15. As to required proof for future accidents by purchase of auto liability insur-
ance, the insurer must make a filing (Form SR-22) certifying that coverage is in
effect, and this certification must remain on file for years:
A. 1
B. 3
C. 4
D. 2: B. 3
16. The Business *Automobile* Policy includes all of the following coverage
forms except:
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1. This optional provision states that if the insured becomes totally disabled,
premiums are waived but the coverage remains in force:
A. Waiver of Subrogation
B. Waiver of Premium
C. Waiver of Value
D. None of the Above: B. Waiver of Premium
"premiums are waived"
2. Frank owned a home that was destroyed by a hurricane. Both ABC and
XYZ Banks were listed as additional interests on his homeowner policy. The
insurance company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests: D. All listed interests
Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is
made by the insurer and it is up to the additional interests on working out their share.
3. Insurance applies *separately* to each insured as if other insureds did not
exist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above: A. Severability
4. Property insurance policies usually contain a(n) clause, stating the
insured cannot *dump damaged property* on the insurer and demand its full
value:
A. Pro Rata
B. Abandonment
, Florida Claims Adjuster Exam - 3
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C. Liberalization
D. All of the above: B. Abandonment
5. A(n) is one wherein economic loss would be suffered from an
adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest: D. Insurable Interest
6. States that if the insurer adopts a revision which would *broaden* coverage
without additional premium within some period of time prior to the policy
period or during the policy period, the insured receives the benefit of such
*broadened* coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization: D. Liberalization
The time frame is typically 60 days.
7. The states that when there is an unbroken connection between an
occurrence and damage that *grows* out of the occurrence, then the resultant
damage is all a part of the occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance: A. Doctrine of Proximate Cause
For example, if a property insurance policy covers the peril of fire but further damage is caused by smoke, water used
to extinguish, and the process of moving property away - fire is considered to be the *proximate cause* of all of the
damage.
, Florida Claims Adjuster Exam - 3
Study online at https://quizlet.com/_62z9lq
8. The Loss Settlement Valuation that subtracts an allowance for depreciation is
defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above: A. Actual Cash Value
9. *A policy condition,* either based on information in the insured's application
or inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above: A. Warranty
10. The following are basic characteristics of a property or liability insurance
contract, except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion: C. Loss of Settlement Contract
11. The Insurer's responsibility to pay for a property loss *may be conditioned*
on the insured having used reasonable means to avoid the loss, to protect the
property against further loss, and to give the insurer proof of the loss is defined
as?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above: A. Conditional Contract
"may be conditioned"
12. Which of the following is not one of the "Thresholds" in the "No-Fault" law?
, Florida Claims Adjuster Exam - 3
Study online at https://quizlet.com/_62z9lq
A. Death of the Insured
B. Temporary Injury of the Insured
C. A permanent loss of a bodily function
D. Permanent scarring on the face of the insured: B. Temporary Injury of the Insured
Also included: permanent injury other than scarring and disfigurement
13. Under Mechanical Breakdown Coverage, new cars are eligible for service up
to:
A. 36 Months/36,000 Miles
B. 24 Months/36,000 Miles
C. 12,000 Months/12,000 Miles
D. 12 Months/36,000 Miles: A. 36 Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
14. If financial responsibility doesn't exist at the time of an accident, which of the
following things must happen to avoid penalties?
A. The legally valid claims of others must be satisfied (up to 10/20/10)
B. The owner and operator must provide certification of future responsibility
for future accidents
C. Both A & B
D. None of the Above: C. Both A & B
15. As to required proof for future accidents by purchase of auto liability insur-
ance, the insurer must make a filing (Form SR-22) certifying that coverage is in
effect, and this certification must remain on file for years:
A. 1
B. 3
C. 4
D. 2: B. 3
16. The Business *Automobile* Policy includes all of the following coverage
forms except:
