Florida 3-20 Public Adjusters State Exam (Set 1)
Questions with Verified Correct Answers
The insurer and insured agree to a specific value of insured item
Agreed Value Policies
Someone who has care, custody or control of another's property
Bailee
Claim filed by policy holder against his _
First Party Claim
When a person who entrusts another with an object and it results in injury to someone can
be held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI
Negligent Entrustment
Hazard that results from a conscious decision made by an insured to participate in a manner
or behavior more likely to result in a loss because they have insurance
Moral Hazard
Used to provide temporary insurance coverage until an insurance policy can be written
Binder
Required by lenders to guarantee that outstanding loans against a job are paid upon
completion
Completion Bonds
The section of an insurance policy identifying the insured, endorsements, coverages, limits,
and premiums
Declarations
Policyholder cannot transfer the policy to someone else without written permission from
their insurance company
Assignment
Questions with Verified Correct Answers
The insurer and insured agree to a specific value of insured item
Agreed Value Policies
Someone who has care, custody or control of another's property
Bailee
Claim filed by policy holder against his _
First Party Claim
When a person who entrusts another with an object and it results in injury to someone can
be held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI
Negligent Entrustment
Hazard that results from a conscious decision made by an insured to participate in a manner
or behavior more likely to result in a loss because they have insurance
Moral Hazard
Used to provide temporary insurance coverage until an insurance policy can be written
Binder
Required by lenders to guarantee that outstanding loans against a job are paid upon
completion
Completion Bonds
The section of an insurance policy identifying the insured, endorsements, coverages, limits,
and premiums
Declarations
Policyholder cannot transfer the policy to someone else without written permission from
their insurance company
Assignment
