FLORIDA PUBLIC ADJUSTER ACTUAL QUESTIONS
AND ANSWERS SURE A+
✔✔Valued Policy Law - ✔✔The value of the property is agreed to as part of the policy.
✔✔Coinsurance - ✔✔A policy for less than the entire value of the insured property and
cover pro-rata whether or not other insurance exists. 80% actually means (pro-rata
share)/80%
✔✔Beginning statement of a liability insurance policy - ✔✔Insurer agrees "to pay on
behalf of the insured all sums the insured becomes legally obligated to pay as
damages" or equivalent wording.
✔✔Three Ways in which the limits to a liability insurance policy Insuring Agreement can
be expressed? - ✔✔1.single limit
2.split limit
3.Aggregate limit
✔✔2 Types of Tort Liability - ✔✔1.Negligent Liability(Unintentional)
2.Strict Liability(Intentional)
✔✔What is the difference between Common Law and Statute Law? - ✔✔Common Law
is based on stare decisis, whereas statutory law is explicit with a statute number.
✔✔What are the two broad classifications of damages that a plaintiff can seek in an
action for money damages? - ✔✔1.Compensatory
2.Punitive
✔✔Two main defenses against Negligence - ✔✔1. Assumption of Risk
2.Comparative Negligence
, ✔✔Why is it common to have the attorney's name on the settlement draft? -
✔✔Because should the insurer pay over the money solely to the claimant, the attorney
may sue the company for the fee.
✔✔Contracts wherein the parties are of unequal bargaining power are called? -
✔✔Contracts of Adhesion
✔✔What is the rule of law's attempt to counter balance a contract of Adhesion? - ✔✔To
have any ambiguities resolved in favor of the insured.
✔✔Two types of Waivers - ✔✔1.Explicit
2.Implied
✔✔Statute 627.409 - ✔✔Statute covering misrepresentation by the insured. Only a
defense for the insurer if they didn't know and it would have affected the coverage offer.
✔✔How long does a residential property policy have to be in effect to hold the insured
immune to 627.409(fraud by insured) - ✔✔90 Days
✔✔What does "OIR" stand for? - ✔✔Office of Insurance Regulation
✔✔What is the OIR's role? - ✔✔To examine the qualification of insurance companies
seeking to do business in this state.
✔✔3 Types of Adjusters - ✔✔1.Staff Adjusters
2.Fee Adjusters
A.Independent Adjusters
B.Bureau Adjusters
3.Public Adjusters
✔✔Company or Staff Adjusters - ✔✔Salaried Employees under the supervision of the
insurer.
✔✔Fee Adjusters - ✔✔Offer their services on a Fee for Service Basis including Bureau
Adjusters and Independent Adjusters
✔✔Bureau Adjusters - ✔✔Serve National Insurance Firms
✔✔What is the difference between a Bureau Adjuster and an Independent Adjuster -
✔✔A Bureau Adjuster is an employee of the insurer and an Independent Adjuster is an
Independent Contractor
✔✔A Public Adjuster - ✔✔Aside from attorneys, Public Adjusters are the only Adjusters
who legally represent the rights of the insured.
AND ANSWERS SURE A+
✔✔Valued Policy Law - ✔✔The value of the property is agreed to as part of the policy.
✔✔Coinsurance - ✔✔A policy for less than the entire value of the insured property and
cover pro-rata whether or not other insurance exists. 80% actually means (pro-rata
share)/80%
✔✔Beginning statement of a liability insurance policy - ✔✔Insurer agrees "to pay on
behalf of the insured all sums the insured becomes legally obligated to pay as
damages" or equivalent wording.
✔✔Three Ways in which the limits to a liability insurance policy Insuring Agreement can
be expressed? - ✔✔1.single limit
2.split limit
3.Aggregate limit
✔✔2 Types of Tort Liability - ✔✔1.Negligent Liability(Unintentional)
2.Strict Liability(Intentional)
✔✔What is the difference between Common Law and Statute Law? - ✔✔Common Law
is based on stare decisis, whereas statutory law is explicit with a statute number.
✔✔What are the two broad classifications of damages that a plaintiff can seek in an
action for money damages? - ✔✔1.Compensatory
2.Punitive
✔✔Two main defenses against Negligence - ✔✔1. Assumption of Risk
2.Comparative Negligence
, ✔✔Why is it common to have the attorney's name on the settlement draft? -
✔✔Because should the insurer pay over the money solely to the claimant, the attorney
may sue the company for the fee.
✔✔Contracts wherein the parties are of unequal bargaining power are called? -
✔✔Contracts of Adhesion
✔✔What is the rule of law's attempt to counter balance a contract of Adhesion? - ✔✔To
have any ambiguities resolved in favor of the insured.
✔✔Two types of Waivers - ✔✔1.Explicit
2.Implied
✔✔Statute 627.409 - ✔✔Statute covering misrepresentation by the insured. Only a
defense for the insurer if they didn't know and it would have affected the coverage offer.
✔✔How long does a residential property policy have to be in effect to hold the insured
immune to 627.409(fraud by insured) - ✔✔90 Days
✔✔What does "OIR" stand for? - ✔✔Office of Insurance Regulation
✔✔What is the OIR's role? - ✔✔To examine the qualification of insurance companies
seeking to do business in this state.
✔✔3 Types of Adjusters - ✔✔1.Staff Adjusters
2.Fee Adjusters
A.Independent Adjusters
B.Bureau Adjusters
3.Public Adjusters
✔✔Company or Staff Adjusters - ✔✔Salaried Employees under the supervision of the
insurer.
✔✔Fee Adjusters - ✔✔Offer their services on a Fee for Service Basis including Bureau
Adjusters and Independent Adjusters
✔✔Bureau Adjusters - ✔✔Serve National Insurance Firms
✔✔What is the difference between a Bureau Adjuster and an Independent Adjuster -
✔✔A Bureau Adjuster is an employee of the insurer and an Independent Adjuster is an
Independent Contractor
✔✔A Public Adjuster - ✔✔Aside from attorneys, Public Adjusters are the only Adjusters
who legally represent the rights of the insured.
