FLORIDA CLAIMS ADJUSTER EXAM
1. 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: 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
is up to the additional interests on working out their share.
2. 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: A. Severability
3. Property
insurance policies usually contain a(n) clause, stating
the insured cannot dump damaged property on the insurer and demand its full value:
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above: B. Abandonment
4. 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: D. Insurable Interest
5. 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.
, FLORIDA CLAIMS ADJUSTER EXAM
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization: D. Liberalization
The time frame is typically 60
days.
, FLORIDA CLAIMS ADJUSTER EXAM
6. The states that when there is an unbroken connection between
an occurrence and damage that grows out of the occurrence, then the resul- tant
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: 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.
7. The Loss Settlement Valuation that subtracts an allowance for depreciation is
defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above: A. Actual Cash Value
8. 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: A. Warranty
9. 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: C. Loss of Settlement Contract
10. The Insurer's responsibility to pay for a property loss may be conditioned on the
insured having used reasonable means to avoid the loss, to protect the property
against further loss, and to give the insurer proof of the loss is defined as?
, FLORIDA CLAIMS ADJUSTER EXAM
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above: A. Conditional
Contract "may be conditioned"
11. Which of the following is not one of the "Thresholds" in the "No-Fault" law?
A. Death of the Insured
1. 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: 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
is up to the additional interests on working out their share.
2. 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: A. Severability
3. Property
insurance policies usually contain a(n) clause, stating
the insured cannot dump damaged property on the insurer and demand its full value:
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above: B. Abandonment
4. 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: D. Insurable Interest
5. 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.
, FLORIDA CLAIMS ADJUSTER EXAM
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization: D. Liberalization
The time frame is typically 60
days.
, FLORIDA CLAIMS ADJUSTER EXAM
6. The states that when there is an unbroken connection between
an occurrence and damage that grows out of the occurrence, then the resul- tant
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: 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.
7. The Loss Settlement Valuation that subtracts an allowance for depreciation is
defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above: A. Actual Cash Value
8. 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: A. Warranty
9. 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: C. Loss of Settlement Contract
10. The Insurer's responsibility to pay for a property loss may be conditioned on the
insured having used reasonable means to avoid the loss, to protect the property
against further loss, and to give the insurer proof of the loss is defined as?
, FLORIDA CLAIMS ADJUSTER EXAM
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above: A. Conditional
Contract "may be conditioned"
11. Which of the following is not one of the "Thresholds" in the "No-Fault" law?
A. Death of the Insured
