FL Claims Adjuster Licensing Study Guide Exam Questions With Accurate Answers

Parts of an insurance contract - ANSWER-Declarations Insuring Agreement Exclusions Conditions Parts of an insurance contract - ANSWER-Declarations Insuring Agreement Exclusions Conditions Contract of adhesion - ANSWER-the insured cannot negotiate the terms of the contract. Ambiguities are resolved in favor of the insured. Requirements to win a negligence claim - ANSWER-1. Prove the defendant had a duty to act/not act 2. The defendant breached that duty 3. The breach of duty caused the injury 4. An actual injury exists Direct Loss - ANSWER-physical harm or damage to tangible property Indirect loss - ANSWER-economic loss that results from a direct loss Time to cancel an auto binder - ANSWER-5 days Property insurance - ANSWER-Any insurance where payment is made to the insured, or others with an interest similar to the insured's. Liability Insurance - ANSWER-Payment by the insurance company will be made to a third party that has been injured or damaged by the insured. The insured can never collect from their own liability. Contract of adhesion - ANSWER-the insured cannot negotiate the terms of the contract. Ambiguities are resolved in favor of the insured.