Florida Public Adjuster State Test Exam Questions And Answers 100% Verified

Florida Public Adjuster State Test Exam Questions And Answers 100% Verified Florida No-Fault Tort Exemption - answerThose who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) - answer1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? - answerNational Flood Insurance Program Form SR-22 - answerDrivers Convicted of DUI or a traffic felony over the prior 3 years are required to have 100/300/50 coverage or a certificate of self insurance of $350,000. Contents of a CGL Contract - answer1.Declarations Form 2.Common Policy Conditions Form 3. One of: A.Occurrence Form B.Claims Made Form 4.Nuclear Energy Liability Exclusion Endorsement. Declarations of a CGL Contract(4) - answer1.Named Insured(including address) 2.Policy Period 3.Premium 4.Limits of Coverage 7 Common CGL Conditions - answer1.Cancellation(30 Days by insurer option, 10 Days By no payment). 2.Changes 3.Examination of Books 4.Inspections and Surveys 5.Premiums 6.Transfer 7.Nuclear Endorsement CGL Coverage A - answerBodily Injury and Property Damage Insuring Agreement The 3 Conditions that define work as "completed" - answer1.When all work called for in the contract is completed. 2.When all work to be done at the site has been completed if one contract calls for work at more than one site. 3.When that part of the work done at a job site has been put to its intended use by any person or organization other than another contractor or subcontractor. Occurance - answerAn accident, including continuous or repeated exposure to substantially the same general harmful conditions. accident - answerSudden, unexpected event The Difference between "Occurance" and "Claims Made" CGL Coverages - answerThe Coverage Trigger: The Occurance Form applies to BI and PD regardless of any later time at which the claim is made. The Claims-Made Form applies only to BI and PD that occurs on or after the "Retro-Active date" Retro-Active Date - answerThe date on which the coverage legally began. Basic Extended Reporting Period for CGL - answer60 Days after expiration Why is the term "Coverage Trigger" misleading? - answerBecause it intends to refer to the time period during which the insurance contract is in effect. Umbrella - answerCovers Excessive Liability A Homeowners Policy consists of(3 components): - answer1.Declarations 2.One of 6 Homeowners forms 3.Mandatory and optional endorsements If a unit is co-owned, May one co-owner be insured as the renter(HO-4)? - answerYes What are the two main divisions of a Home Owners Form? - answerSection I-Property & Section II-Liability 4 Subsections of Section I of a Property Coverage Policy - answer1. Coverages 2.Perils Insured Against 3.Exclusions 4.Conditions Who determines how much HO-6 coverages a Condominium Owner needs? - answerThe Association Homeowners Coverage A - answer"Dwelling" covers the dwelling building and structures attached; also construction materials and supplies on or adjacent to the premises. Homeowners Coverage B - answer"Other Structures" covers private structures on the residence premises that are not attached to the main dwelling. 4 Examples of "Other Structures" Per Coverage B of a Homeowner's policy(book gives 5) - answer1.Detached Garage. 2.Guest House. 3.Fence 4.Tennis Court 5.Storage Building Homeowner's Coverage C - answer"Personal Property" covers Property, wherever it is located, that is owned or used by "an Insured". Homeowners Coverage D - answer"Loss of Use" covers increases over normal living costs if damage from a covered Peril makes the residence unfit for occupancy. What is the standard limit for Homeowners Coverage B? - answer10% of the amount Insured for Coverage A and may not be increased or decreased. What is the standard amount for Coverage C - answer50% of Coverage A. What is the standard limit of Homeowner's Coverage D for: HO-2, HO-3 & HO-5? - answer30% Coverage A How many Perils are listed as "General Exclusions" in your textbook? - answer9 What is the most important Condition that has direct impact on Homeowners Coverage? - answerLoss Settleme