Florida Test Study Guide - Public
Adjusting 3-20 (Set 1) Exam Questions &
Answers
Those who are eligible for coverage under the Florida Automobile Joint Underwriting
Association are? - ANSWER-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: - ANSWER-Burglary
The inland marine coverage form that covers clothing, cameras and other portable
property worn and carried by tourists and travelers is a: - ANSWER-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) - ANSWER-Residential Property & Casualty Joint Underwriting
Association for property owners.
What does the property insurance term "improvements and betterment" apply to? -
ANSWER-Real Property
The penalty imposed upon a Florida licensee who violates a cease and desists order
issued by the CFO: - ANSWER-$50,000 Fine
What is amount is personal property used for business purposes, under a Homeowners
policy covered up to - ANSWER-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? - ANSWER-
50% of the settlement amount
, A statement that is believed to be true when made, which my prove to be false. -
ANSWER-Representation
A statement that is guaranteed to be correct: - ANSWER-Warranty
When can an insured cancel his/her policy? - ANSWER-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? - ANSWER-30 days written notice
What deductibles are subject to any aircraft physical damages that differ according to
circumstances surrounding a given loss? - ANSWER-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: - ANSWER-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? - ANSWER-Yes
Under Florida Comparative Negligence law how much would one be able to recover if
they were found 25% at fault? - ANSWER-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? - ANSWER-$0.00
A commercial property coverage part includes: - ANSWER-Common policy conditions
Adjusting 3-20 (Set 1) Exam Questions &
Answers
Those who are eligible for coverage under the Florida Automobile Joint Underwriting
Association are? - ANSWER-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: - ANSWER-Burglary
The inland marine coverage form that covers clothing, cameras and other portable
property worn and carried by tourists and travelers is a: - ANSWER-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) - ANSWER-Residential Property & Casualty Joint Underwriting
Association for property owners.
What does the property insurance term "improvements and betterment" apply to? -
ANSWER-Real Property
The penalty imposed upon a Florida licensee who violates a cease and desists order
issued by the CFO: - ANSWER-$50,000 Fine
What is amount is personal property used for business purposes, under a Homeowners
policy covered up to - ANSWER-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? - ANSWER-
50% of the settlement amount
, A statement that is believed to be true when made, which my prove to be false. -
ANSWER-Representation
A statement that is guaranteed to be correct: - ANSWER-Warranty
When can an insured cancel his/her policy? - ANSWER-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? - ANSWER-30 days written notice
What deductibles are subject to any aircraft physical damages that differ according to
circumstances surrounding a given loss? - ANSWER-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: - ANSWER-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? - ANSWER-Yes
Under Florida Comparative Negligence law how much would one be able to recover if
they were found 25% at fault? - ANSWER-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? - ANSWER-$0.00
A commercial property coverage part includes: - ANSWER-Common policy conditions
