Florida Test Study Guide - Public Adjusting 3-20 (Set 1) 2023 Correctly Answered

Those who are eligible for coverage under the Florida Automobile Joint Underwriting Association are? - CORRECT ANS Military Personnel A non-resident owning an automobile in Florida A non-resident subject to Florida no-fault law A forcible entry into locked premises and the carrying away of the property of others is a definition of: - CORRECT ANS Burglary The inland marine coverage form that covers clothing, cameras and other portable property worn and carried by tourists and travelers is a: - CORRECT ANS Personal effects floater A residual market to alleviate the temporary unavailability of property insurance coverage in significant portions of Florida (e.g. homeowners face non-renewal or cancellations) - CORRECT ANS Residential Property & Casualty Joint Underwriting Association for property owners. What does the property insurance term "improvements and betterment" apply to? - CORRECT ANS Real Property The penalty imposed upon a Florida licensee who violates a cease and desists order issued by the CFO: - CORRECT ANS $50,000 Fine What is amount is personal property used for business purposes, under a Homeowners policy covered up to - CORRECT ANS up to $2500 on premises up to $1500 off premises If a replacement costs exists, but the insured has a policy for only 50% of the replacement cost, what percentage will the insured received for the loss? - CORRECT ANS 50% of the settlement amount A statement that is believed to be true when made, which my prove to be false. - CORRECT ANS Representation A statement that is guaranteed to be correct: - CORRECT ANS Warranty When can an insured cancel his/her policy? - CORRECT ANS At any time. In Florida, how many days in advance of a premium due date must an auto insurer provide notice of renewal to an insured? - CORRECT ANS 30 days written notice What deductibles are subject to any aircraft physical damages that differ according to circumstances surrounding a given loss? - CORRECT ANS In-flight Ded (greatest amount) Not-in-Motion (least amount) They apply independently based on the actual loss Uninsured Motorist's Coverage form, the insured can request: - CORRECT ANS Non-stacked Coverage Stacked Coverage UM coverage at the limits lower than those that apply for liability coverage If a mortgage is acknowledged in the policy and the insured concealed the fact that a hazard exists to the insurance company, would the mortgage have a right to recover its full loan value? - CORRECT ANS Yes Under Florida Comparative Negligence law how much would one be able to recover if they were found 25% at fault? - CORRECT ANS 75% (the difference) If a claimant is under the influence of drugs and/or alcohol and is found to be 50% or more at fault, how much can they recover? - CORRECT ANS $0.0