Florida Claims Adjuster Exam
Severability correct answers Insurance applies separately to each insured
as if other
insureds did not
exist.
Abandonment correct answers Property insurance policies usually
contain a(n)clause, *stating the insured cannot dump damaged property on
and demandthe its insurer
full
value.*
Insurable Interest correct answers One wherein economic loss would be
suffered
an from
adverse happening to the
subject.
Liberalization correct answers States that if the insurer adopts a revision
which would
broaden coverage without additional premium within some period of time
prior toperiod
policy the or during the policy period, the insured receives the
benefit of such
broadened
coverage..
Doctrine of Proximate Cause correct answers States that when there is an
unbroken
connection between an occurrence and damage that grows out of the
occurrence,
the resultantthen
damage is all a part of the
occurrence.
Actual Cash Value correct answers The Loss Settlement Valuation that
subtracts an
allowance for
depreciation
Warranty correct answers A policy condition, either based on
information
insured's in the
application or inserted by the
insurer
Conditional Contract correct answers The Insurer's responsibility to pay for
a property
loss may be conditioned on the insured having used reasonable means to
avoidto
loss, the
protect the property against further loss, and to give the insurer proof
of defined
is the loss
as?
Under Mechanical Breakdown Coverage, *new cars are eligible for
service answers
correct up to:* 36 Months/36,000
Miles
Used vehicles: 12 Months/12,000
Miles
If financial responsibility doesn't exist at the time of an accident, what
happens?The
answers correct
legally valid claims of others must be satisfied
(10/20/10)
The owner and operator must provide certification of future
responsibility for future
accident
s
,As to required proof for future accidents by purchase of auto liability
insurance,
insurer mustthemake a filing (Form SR-22) certifying that coverage is in
effect, and this
certification must remain on file for years correct
answers 3
The Business Automobile Policy includes all of the following coverage
forms except:
correct answers The Trailer Interchange Coverage
Form
Personal Injury Protection, or PIP, has a per person, per accident
limit.
correct answers
10,000
Used to insure businesses engaged in selling, servicing, repairing, parking
or storing
automobiles: correct answers Garage Coverage
Form
The following examples are referred to as liability limits:
25/50/25 orcorrect answers
10/20/10.
Split
10/20/10
=
10,000 per person
injured
20,000 all injuries
combined
10,000 property
damage
Example of straight liability limit =
$30,000
Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible,
how he
can much
expect his PIP coverage to pay toward his medical bills that
total $3,000?
correct answers
$1,600
3000 (bills) - 1000
(deductible)
2000 =
x .80 (eighty
percent)
Frank has a not-at-fault accident, he has basic PIP, no deductible and
Med payHow
$5,000. of much will his Med Pay contribute to medical bills of
$15,000? correct
answers
$5,000
Medical Payment limits apply per person; Frank will receive full amount
towards medical
bills
.
Which of the following is not one of the rating factors for a Homeowner's
Policy? correct
answers Age & Gender of
Insured
On a Homeowner's Policy, covers items that are not permanently
attached to
dwelling. the
This is defined as: correct answers Other
Structures
Examples include sheds, fences, pool houses, detached car
ports, etc.
, A lender has an insurable interest in a home and finds protection in
the: correct
answers Mortgagee
Clause
Mortgagee - Homeowner's
policy
Loss Payee - Automobile
policy
Which of the following forms is "all-risk" on the dwelling policy? correct
answers
or DP-3,
the Special
Form
When the basic liability limits provided by the policy are insufficient for
an 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 correct answers Both
A&B
Which of the following is not covered under Coverage C, Personal
Property?
A. A fire breaks out in the residence and an overnight guest loses his clothes
in the
B. A fishfiredies because he has been left alone for a week
without
C. food
The insureds daughters tennis racket is stolen from
herThe
D. locker
insureds suitcase and clothing, valued at $1,500, are stolen
from hisanswers
correct hotel 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.
All of the following are eligible for a Homeowner's Policy,
except?
A. An apartment
tenant
B. A condominium
C. Four-family dwelling owner-
owner
occupant
D. A business condo owned by a local insurance company correct
answers D.
business A owned by a local insurance
condo
company
Commercial property is not eligible for a
Homeowner's policy.
Which of the following are characteristics of Homeowner's
Insurance?
A. Protects against economic loss to residences and household property
and legal
liabiliti
es
B. Owner-occupants of 1-4 family
dwellings
C. Renters who maintain residential occupancy in any type of
building
D. All of the Above correct answers D. All of the
Above
Also included: personal, non-business risk, no more than 2
roomers/boarders,
condominium unit owners and cooperative apartment
occupants
Severability correct answers Insurance applies separately to each insured
as if other
insureds did not
exist.
Abandonment correct answers Property insurance policies usually
contain a(n)clause, *stating the insured cannot dump damaged property on
and demandthe its insurer
full
value.*
Insurable Interest correct answers One wherein economic loss would be
suffered
an from
adverse happening to the
subject.
Liberalization correct answers States that if the insurer adopts a revision
which would
broaden coverage without additional premium within some period of time
prior toperiod
policy the or during the policy period, the insured receives the
benefit of such
broadened
coverage..
Doctrine of Proximate Cause correct answers States that when there is an
unbroken
connection between an occurrence and damage that grows out of the
occurrence,
the resultantthen
damage is all a part of the
occurrence.
Actual Cash Value correct answers The Loss Settlement Valuation that
subtracts an
allowance for
depreciation
Warranty correct answers A policy condition, either based on
information
insured's in the
application or inserted by the
insurer
Conditional Contract correct answers The Insurer's responsibility to pay for
a property
loss may be conditioned on the insured having used reasonable means to
avoidto
loss, the
protect the property against further loss, and to give the insurer proof
of defined
is the loss
as?
Under Mechanical Breakdown Coverage, *new cars are eligible for
service answers
correct up to:* 36 Months/36,000
Miles
Used vehicles: 12 Months/12,000
Miles
If financial responsibility doesn't exist at the time of an accident, what
happens?The
answers correct
legally valid claims of others must be satisfied
(10/20/10)
The owner and operator must provide certification of future
responsibility for future
accident
s
,As to required proof for future accidents by purchase of auto liability
insurance,
insurer mustthemake a filing (Form SR-22) certifying that coverage is in
effect, and this
certification must remain on file for years correct
answers 3
The Business Automobile Policy includes all of the following coverage
forms except:
correct answers The Trailer Interchange Coverage
Form
Personal Injury Protection, or PIP, has a per person, per accident
limit.
correct answers
10,000
Used to insure businesses engaged in selling, servicing, repairing, parking
or storing
automobiles: correct answers Garage Coverage
Form
The following examples are referred to as liability limits:
25/50/25 orcorrect answers
10/20/10.
Split
10/20/10
=
10,000 per person
injured
20,000 all injuries
combined
10,000 property
damage
Example of straight liability limit =
$30,000
Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible,
how he
can much
expect his PIP coverage to pay toward his medical bills that
total $3,000?
correct answers
$1,600
3000 (bills) - 1000
(deductible)
2000 =
x .80 (eighty
percent)
Frank has a not-at-fault accident, he has basic PIP, no deductible and
Med payHow
$5,000. of much will his Med Pay contribute to medical bills of
$15,000? correct
answers
$5,000
Medical Payment limits apply per person; Frank will receive full amount
towards medical
bills
.
Which of the following is not one of the rating factors for a Homeowner's
Policy? correct
answers Age & Gender of
Insured
On a Homeowner's Policy, covers items that are not permanently
attached to
dwelling. the
This is defined as: correct answers Other
Structures
Examples include sheds, fences, pool houses, detached car
ports, etc.
, A lender has an insurable interest in a home and finds protection in
the: correct
answers Mortgagee
Clause
Mortgagee - Homeowner's
policy
Loss Payee - Automobile
policy
Which of the following forms is "all-risk" on the dwelling policy? correct
answers
or DP-3,
the Special
Form
When the basic liability limits provided by the policy are insufficient for
an 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 correct answers Both
A&B
Which of the following is not covered under Coverage C, Personal
Property?
A. A fire breaks out in the residence and an overnight guest loses his clothes
in the
B. A fishfiredies because he has been left alone for a week
without
C. food
The insureds daughters tennis racket is stolen from
herThe
D. locker
insureds suitcase and clothing, valued at $1,500, are stolen
from hisanswers
correct hotel 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.
All of the following are eligible for a Homeowner's Policy,
except?
A. An apartment
tenant
B. A condominium
C. Four-family dwelling owner-
owner
occupant
D. A business condo owned by a local insurance company correct
answers D.
business A owned by a local insurance
condo
company
Commercial property is not eligible for a
Homeowner's policy.
Which of the following are characteristics of Homeowner's
Insurance?
A. Protects against economic loss to residences and household property
and legal
liabiliti
es
B. Owner-occupants of 1-4 family
dwellings
C. Renters who maintain residential occupancy in any type of
building
D. All of the Above correct answers D. All of the
Above
Also included: personal, non-business risk, no more than 2
roomers/boarders,
condominium unit owners and cooperative apartment
occupants
