Florida Claims Adjuster Exam
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1. Severability: Insurance applies separately to each insured as if other insureds did not exist.
2. Abandonment: Property insurance policies usually contain a(n) clause, *stating the insured
cannot dump damaged property on the insurer and demand its full value.*
3. Insurable Interest: One wherein economic loss would be suttered from an adverse happening to the
subject.
4. Liberalization: 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..
5. Doctrine of Proximate Cause: 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.
6. Actual Cash Value: The Loss Settlement Valuation that subtracts an allowance for depreciation
7. Warranty: A policy condition, either based on information in the insured's application or inserted by the
insurer
8. Conditional Contract: 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?
9. Under Mechanical Breakdown Coverage, *new cars are eligible for service
up to:*: 36 Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
10. If financial responsibility doesn't exist at the time of an accident, what
happens?: The legally valid claims of others must be satisfied (10/20/10)
The owner and operator must provide certification of future responsibility for future accidents
11. 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: 3
12. The Business Automobile Policy includes all of the following coverage forms
except:: The Trailer Interchange Coverage Form
13. Personal Injury Protection, or PIP, has a per person, per accident
limit.: 10,000
, Florida Claims Adjuster Exam
Study online at https://quizlet.com/_62h76f
14. Used to insure businesses engaged in selling, servicing, repairing, parking
or storing automobiles:: Garage Coverage Form
15. The following examples are referred to as_________ liability limits: 25/50/25
or 10/20/10.: Split
10/20/10 =
10,000 per person injured
20,000 all injuries combined
10,000 property damage
Example of straight liability limit = $30,000
16. Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible,
how much can he expect his PIP coverage to pay toward his medical bills that
total $3,000?: $1,600
3000 (bills) - 1000 (deductible) =
2000 x .80 (eighty percent)
17. Frank has a not-at-fault accident, he has basic PIP, no deductible and Med
pay of $5,000. How much will his Med Pay contribute to medical bills of
$15,000?: $5,000
Medical Payment limits apply per person; Frank will receive full amount towards medical bills.
18. Which of the following is not one of the rating factors for a Homeowner's
Policy?: Age & Gender of Insured
19. On a Homeowner's Policy, covers items that are not permanently attached
to the dwelling. This is defined as:: Other Structures
Examples include sheds, fences, pool houses, detached car ports, etc.
20. A lender has an insurable interest in a home and finds protection in the:: -
Mortgagee Clause
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy
, Florida Claims Adjuster Exam
Study online at https://quizlet.com/_62h76f
21. Which of the following forms is "all-risk" on the dwelling policy?: DP-3, or the
Special Form
22. When the basic liability limits provided by the policy are insufficient for
an insureds needs, two coverage forms are used to provide the additional
amounts of coverage:
A. Excess Liability
B. Umbrella
C. Both A & B
D. None of the Above: Both A & B
23. Which of the following is not covered under Coverage C, Personal Proper-
ty?
A. A fire breaks out in the residence and an overnight guest loses his clothes
in the fire
B. A fish dies because he has been left alone for a week without food
C. The insureds daughters tennis racket is stolen from her locker
D. The insureds suitcase and clothing, valued at $1,500, are stolen from his
hotel: B. A fish dies because he has been left alone for a week without food
Animals are listed as an "exclusion" under a Homeowner's policy.
24. All of the following are eligible for a Homeowner's Policy, except?
A. An apartment tenant
B. A condominium owner
C. Four-family dwelling owner-occupant
D. A business condo owned by a local insurance company: D. A business condo owned
by a local insurance company
Commercial property is not eligible for a Homeowner's policy.
25. Which of the following are characteristics of Homeowner's Insurance?
A. Protects against economic loss to residences and household property and
legal liabilities
Study online at https://quizlet.com/_62h76f
1. Severability: Insurance applies separately to each insured as if other insureds did not exist.
2. Abandonment: Property insurance policies usually contain a(n) clause, *stating the insured
cannot dump damaged property on the insurer and demand its full value.*
3. Insurable Interest: One wherein economic loss would be suttered from an adverse happening to the
subject.
4. Liberalization: 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..
5. Doctrine of Proximate Cause: 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.
6. Actual Cash Value: The Loss Settlement Valuation that subtracts an allowance for depreciation
7. Warranty: A policy condition, either based on information in the insured's application or inserted by the
insurer
8. Conditional Contract: 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?
9. Under Mechanical Breakdown Coverage, *new cars are eligible for service
up to:*: 36 Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
10. If financial responsibility doesn't exist at the time of an accident, what
happens?: The legally valid claims of others must be satisfied (10/20/10)
The owner and operator must provide certification of future responsibility for future accidents
11. 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: 3
12. The Business Automobile Policy includes all of the following coverage forms
except:: The Trailer Interchange Coverage Form
13. Personal Injury Protection, or PIP, has a per person, per accident
limit.: 10,000
, Florida Claims Adjuster Exam
Study online at https://quizlet.com/_62h76f
14. Used to insure businesses engaged in selling, servicing, repairing, parking
or storing automobiles:: Garage Coverage Form
15. The following examples are referred to as_________ liability limits: 25/50/25
or 10/20/10.: Split
10/20/10 =
10,000 per person injured
20,000 all injuries combined
10,000 property damage
Example of straight liability limit = $30,000
16. Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible,
how much can he expect his PIP coverage to pay toward his medical bills that
total $3,000?: $1,600
3000 (bills) - 1000 (deductible) =
2000 x .80 (eighty percent)
17. Frank has a not-at-fault accident, he has basic PIP, no deductible and Med
pay of $5,000. How much will his Med Pay contribute to medical bills of
$15,000?: $5,000
Medical Payment limits apply per person; Frank will receive full amount towards medical bills.
18. Which of the following is not one of the rating factors for a Homeowner's
Policy?: Age & Gender of Insured
19. On a Homeowner's Policy, covers items that are not permanently attached
to the dwelling. This is defined as:: Other Structures
Examples include sheds, fences, pool houses, detached car ports, etc.
20. A lender has an insurable interest in a home and finds protection in the:: -
Mortgagee Clause
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy
, Florida Claims Adjuster Exam
Study online at https://quizlet.com/_62h76f
21. Which of the following forms is "all-risk" on the dwelling policy?: DP-3, or the
Special Form
22. When the basic liability limits provided by the policy are insufficient for
an insureds needs, two coverage forms are used to provide the additional
amounts of coverage:
A. Excess Liability
B. Umbrella
C. Both A & B
D. None of the Above: Both A & B
23. Which of the following is not covered under Coverage C, Personal Proper-
ty?
A. A fire breaks out in the residence and an overnight guest loses his clothes
in the fire
B. A fish dies because he has been left alone for a week without food
C. The insureds daughters tennis racket is stolen from her locker
D. The insureds suitcase and clothing, valued at $1,500, are stolen from his
hotel: B. A fish dies because he has been left alone for a week without food
Animals are listed as an "exclusion" under a Homeowner's policy.
24. All of the following are eligible for a Homeowner's Policy, except?
A. An apartment tenant
B. A condominium owner
C. Four-family dwelling owner-occupant
D. A business condo owned by a local insurance company: D. A business condo owned
by a local insurance company
Commercial property is not eligible for a Homeowner's policy.
25. Which of the following are characteristics of Homeowner's Insurance?
A. Protects against economic loss to residences and household property and
legal liabilities
