Florida Claims Adjuster Exam | 206 Questions with 100% Correct Answers | 68 Pages
1. Frank has a not-at-fault accident, he has basic PIP, no deductible and Med pay of $5,000. How much will his Med
Pay contribute to medical bills of
$15,000?
A. $15,000
B. $5,000
C. $3,000
D. $0, Frank is not-at-fault: B. $5,000
Medical Payment limits apply per person; Frank will receive full amount towardsmedical bills.
2. Which of the following is not one of the rating factors for a Homeowner'sPolicy?
A. Type of Construction
B. Location of Risk
,C. Age & Gender of Insured
D. Proximity to Fire Department: C. Age & Gender of Insured
3. On a Homeowner's Policy, covers items that are not permanently attachedto the dwelling. This is defined as:
A. Other Structures
B. Excess Structures
C. Personal Property
D. Dwelling: A. Other Structures
Examples include sheds, fences, pool houses, detached car ports, etc.
4. A lender has an insurable interest in a home and finds protection in the:
A. Loss Payee Clause
B. Mortgagee Clause
C. Lender Clause
D. Additional Insured Clause: B. Mortgagee ClauseMortgagee - Homeowner's
policy
Loss Payee - Automobile policy
5. Which of the following forms is "all-risk" on the dwelling policy?
A. DP-1, or the Basic Form
B. DP-2, or the Broad
C. DP-3, or the Special Form
,D. None of the Above: C. DP-3, or the Special Form
6. When the basic liability limits provided by the policy are insufficient foran insureds needs, two coverage forms
are used to provide the additional amounts of coverage:
A. Excess Liability
B. Umbrella
C. Both A & B
D. None of the Above: C. Both A & B
7. Which of the following is not covered under Coverage C, Personal Proper-ty?
A. A fire breaks out in the residence and an overnight guest loses his clothesin the fire
B. A fish dies because he has been left alone for a week without food
C. The insureds daughters tennis racket is stolen from her locker
D. The insureds suitcase and clothing, valued at $1,500, are stolen from hishotel: B. A fish dies because he has been left
alone for a week without food Animals are listed as an "exclusion" under a Homeowner's policy.
8. All of the following are eligible for a Homeowner's Policy, except?
A. An apartment tenant
B. A condominium owner
C. Four-family dwelling owner-occupant
D. A business condo owned by a local insurance company: D.A business condoowned by a local insurance company
Commercial property is not eligible for a Homeowner's policy.
9. Which of the following are characteristics of Homeowner's Insurance?
A. Protects against economic loss to residences and household property andlegal liabilities
, B. Owner-occupants of 1-4 family dwellings
C. Renters who maintain residential occupancy in any type of building
D. All of the Above: D. All of the Above
Also included: personal, non-business risk, no more than 2 roomers/boarders,condominium unit owners and cooperative
apartment occupants
10. Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional
interests on his homeowner policy. Theinsurance company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests: Ans- D. All listed interests
Remember that the insurer is not responsible to know the degrees of interest. In theevent of a loss, one payment is made by the insur
and it is up to the additional interests on working out their share.
11. Insurance applies separately to each insured as if other insureds did notexist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above: Ans- A. Severability
12. Property insurance
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1. Frank has a not-at-fault accident, he has basic PIP, no deductible and Med pay of $5,000. How much will his Med
Pay contribute to medical bills of
$15,000?
A. $15,000
B. $5,000
C. $3,000
D. $0, Frank is not-at-fault: B. $5,000
Medical Payment limits apply per person; Frank will receive full amount towardsmedical bills.
2. Which of the following is not one of the rating factors for a Homeowner'sPolicy?
A. Type of Construction
B. Location of Risk
,C. Age & Gender of Insured
D. Proximity to Fire Department: C. Age & Gender of Insured
3. On a Homeowner's Policy, covers items that are not permanently attachedto the dwelling. This is defined as:
A. Other Structures
B. Excess Structures
C. Personal Property
D. Dwelling: A. Other Structures
Examples include sheds, fences, pool houses, detached car ports, etc.
4. A lender has an insurable interest in a home and finds protection in the:
A. Loss Payee Clause
B. Mortgagee Clause
C. Lender Clause
D. Additional Insured Clause: B. Mortgagee ClauseMortgagee - Homeowner's
policy
Loss Payee - Automobile policy
5. Which of the following forms is "all-risk" on the dwelling policy?
A. DP-1, or the Basic Form
B. DP-2, or the Broad
C. DP-3, or the Special Form
,D. None of the Above: C. DP-3, or the Special Form
6. When the basic liability limits provided by the policy are insufficient foran insureds needs, two coverage forms
are used to provide the additional amounts of coverage:
A. Excess Liability
B. Umbrella
C. Both A & B
D. None of the Above: C. Both A & B
7. Which of the following is not covered under Coverage C, Personal Proper-ty?
A. A fire breaks out in the residence and an overnight guest loses his clothesin the fire
B. A fish dies because he has been left alone for a week without food
C. The insureds daughters tennis racket is stolen from her locker
D. The insureds suitcase and clothing, valued at $1,500, are stolen from hishotel: B. A fish dies because he has been left
alone for a week without food Animals are listed as an "exclusion" under a Homeowner's policy.
8. All of the following are eligible for a Homeowner's Policy, except?
A. An apartment tenant
B. A condominium owner
C. Four-family dwelling owner-occupant
D. A business condo owned by a local insurance company: D.A business condoowned by a local insurance company
Commercial property is not eligible for a Homeowner's policy.
9. Which of the following are characteristics of Homeowner's Insurance?
A. Protects against economic loss to residences and household property andlegal liabilities
, B. Owner-occupants of 1-4 family dwellings
C. Renters who maintain residential occupancy in any type of building
D. All of the Above: D. All of the Above
Also included: personal, non-business risk, no more than 2 roomers/boarders,condominium unit owners and cooperative
apartment occupants
10. Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional
interests on his homeowner policy. Theinsurance company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests: Ans- D. All listed interests
Remember that the insurer is not responsible to know the degrees of interest. In theevent of a loss, one payment is made by the insur
and it is up to the additional interests on working out their share.
11. Insurance applies separately to each insured as if other insureds did notexist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above: Ans- A. Severability
12. Property insurance
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