Florida Claims Adjuster Exam | 206 Questions with 100% Correct Answers | 40 Pages
States that if the insurer adopts a revision which would broaden coverage without additional premium within some period of time
prior to the policyperiod or during the policy period, the insured receives the benefit of suchbroadened coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization - ANSWER D. LiberalizationTime frame is typically 60 days
The states that when there is an unbroken connection betweenan 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 - ANSWER D. Doctrine of PropertyInsurance
The Loss Settlement Valuation that subtracts an allowance for depreciation isdefined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above - ANSWER A. Actual Cash Value
A policy condition, either based on information in the insured's applicationor inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above - ANSWER A. Warranty
The following are basic characteristics of a property or liability insurancecontract, except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion - ANSWER C. Loss of Settlement Contract
The Insurer's responsibility to pay for a property loss may be conditioned onthe 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?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above - ANSWER A. Conditional Contract
,Frank owned a home that was destroyed by a hurricane. Both TD Bank and Bank of America were listed as additional interests on his
homeowner policy. The insurance company will make a payment to:
A. The first mortgagee, TD Bank
B. The Insured
C. Jointly to TD Bank and Bank of America
D. All listed interests - ANSWER D. All listed interests
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 - 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:
A. Pro Rata
, B. Abandonment
C. Liberalization
D. All of the above - ANSWER B. Abandonment
A(n) is one wherein economic loss would be suffered from anadverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest - ANSWER D. Insurable Interest
Which of the following is not one of the "Thresholds" in the "No-Fault" law?
A. Death of the Insured
B. Temporary Injury of the Insured
C. A permanent loss of a bodily function
D. Permanent scarring on the face of the insured - ANSWER B. TemporaryInjury of the Insured
Under Mechanical Breakdown Coverage, new cars are eligible for service upto:
A. 36 Months/36,000 Miles
B. 24 Months/36,000 Miles
C. 12,000 Months/12,000 Miles
States that if the insurer adopts a revision which would broaden coverage without additional premium within some period of time
prior to the policyperiod or during the policy period, the insured receives the benefit of suchbroadened coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization - ANSWER D. LiberalizationTime frame is typically 60 days
The states that when there is an unbroken connection betweenan 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 - ANSWER D. Doctrine of PropertyInsurance
The Loss Settlement Valuation that subtracts an allowance for depreciation isdefined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above - ANSWER A. Actual Cash Value
A policy condition, either based on information in the insured's applicationor inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above - ANSWER A. Warranty
The following are basic characteristics of a property or liability insurancecontract, except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion - ANSWER C. Loss of Settlement Contract
The Insurer's responsibility to pay for a property loss may be conditioned onthe 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?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above - ANSWER A. Conditional Contract
,Frank owned a home that was destroyed by a hurricane. Both TD Bank and Bank of America were listed as additional interests on his
homeowner policy. The insurance company will make a payment to:
A. The first mortgagee, TD Bank
B. The Insured
C. Jointly to TD Bank and Bank of America
D. All listed interests - ANSWER D. All listed interests
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 - 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:
A. Pro Rata
, B. Abandonment
C. Liberalization
D. All of the above - ANSWER B. Abandonment
A(n) is one wherein economic loss would be suffered from anadverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest - ANSWER D. Insurable Interest
Which of the following is not one of the "Thresholds" in the "No-Fault" law?
A. Death of the Insured
B. Temporary Injury of the Insured
C. A permanent loss of a bodily function
D. Permanent scarring on the face of the insured - ANSWER B. TemporaryInjury of the Insured
Under Mechanical Breakdown Coverage, new cars are eligible for service upto:
A. 36 Months/36,000 Miles
B. 24 Months/36,000 Miles
C. 12,000 Months/12,000 Miles
