Florida Claims Adjuster Exam questions and
verified answers
Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks
were listed as additional interests on his homeowner policy. The insurance
company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests - correct answer ✅D. All listed interests
Remember that the insurer is not responsible to know the degrees of interest. In
the event of a loss, one payment is made by the insurer and it is up to the
additional interests on working out their share.
Insurance applies separately to each insured as if other insureds did not exist. This
is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above - correct answer ✅A. Severability
Property insurance policies usually contain a(n) __________ clause, stating the
insured cannot dump damaged property on the insurer and demand its full value:
,Florida Claims Adjuster Exam questions and
verified answers
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above - correct answer ✅B. Abandonment
A(n) __________ is one wherein economic loss would be suffered from an adverse
happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest - correct answer ✅D. Insurable Interest
States that if the insurer adopts a revision which would broaden coverage without
additional premium within some period of time prior to the policy period or
during the policy period, the insured receives the benefit of such broadened
coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
,Florida Claims Adjuster Exam questions and
verified answers
D. Liberalization - correct answer ✅D. Liberalization
The time frame is typically 60 days.
The __________ states that when there is an unbroken connection between an
occurrence and damage that grows out of the occurrence, then the resultant
damage is all a part of the occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance - correct answer ✅A. Doctrine of Proximate
Cause
For example, if a property insurance policy covers the peril of fire but further
damage is caused by smoke, water used to extinguish, and the process of moving
property away - fire is considered to be the *proximate cause* of all of the
damage.
The Loss Settlement Valuation that subtracts an allowance for depreciation is
defined as?
A. Actual Cash Value
B. Replacement Cost
, Florida Claims Adjuster Exam questions and
verified answers
C. "Old for New"
D. None of the Above - correct answer ✅A. Actual Cash Value
A policy condition, either based on information in the insured's application or
inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above - correct answer ✅A. Warranty
The following are basic characteristics of a property or liability insurance contract,
except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion - correct answer ✅C. Loss of Settlement Contract
verified answers
Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks
were listed as additional interests on his homeowner policy. The insurance
company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests - correct answer ✅D. All listed interests
Remember that the insurer is not responsible to know the degrees of interest. In
the event of a loss, one payment is made by the insurer and it is up to the
additional interests on working out their share.
Insurance applies separately to each insured as if other insureds did not exist. This
is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above - correct answer ✅A. Severability
Property insurance policies usually contain a(n) __________ clause, stating the
insured cannot dump damaged property on the insurer and demand its full value:
,Florida Claims Adjuster Exam questions and
verified answers
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above - correct answer ✅B. Abandonment
A(n) __________ is one wherein economic loss would be suffered from an adverse
happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest - correct answer ✅D. Insurable Interest
States that if the insurer adopts a revision which would broaden coverage without
additional premium within some period of time prior to the policy period or
during the policy period, the insured receives the benefit of such broadened
coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
,Florida Claims Adjuster Exam questions and
verified answers
D. Liberalization - correct answer ✅D. Liberalization
The time frame is typically 60 days.
The __________ states that when there is an unbroken connection between an
occurrence and damage that grows out of the occurrence, then the resultant
damage is all a part of the occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance - correct answer ✅A. Doctrine of Proximate
Cause
For example, if a property insurance policy covers the peril of fire but further
damage is caused by smoke, water used to extinguish, and the process of moving
property away - fire is considered to be the *proximate cause* of all of the
damage.
The Loss Settlement Valuation that subtracts an allowance for depreciation is
defined as?
A. Actual Cash Value
B. Replacement Cost
, Florida Claims Adjuster Exam questions and
verified answers
C. "Old for New"
D. None of the Above - correct answer ✅A. Actual Cash Value
A policy condition, either based on information in the insured's application or
inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above - correct answer ✅A. Warranty
The following are basic characteristics of a property or liability insurance contract,
except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion - correct answer ✅C. Loss of Settlement Contract
