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Insurance licensing florida Exam Questions
With Correct Answers 100% Verified.
What is the primary difference between a staff adjuster and an independent adjuster? -
Answer✔A staff adjuster works for an insurance company and an independent adjuster works
independently for themselves or for adjusting firms who represent many clients.
A couple has insured their home for $150,000. A fire ensues and guts their home, resulting in a
total loss. An appraisal of the home prior to loss results in a value of $120,000, yet the adjuster is
required by law to pay the couple $150,000. This is known as the application of: - Answer✔The
valued policy law.
The doctrine of proximate cause is defined as: - Answer✔If there is an unbroken chain of events,
or series of consequences, flowing from the initial loss caused by the insured peril to a
subsequent loss, the insured peril causing the initial loss will be considered the "proximate
cause" of the subsequent loss.
An adjuster's responsibility as a fiduciary means: - Answer✔The adjuster represents, and
controls, the property and financial interests of the client, to whom he/she owes a high degree of
loyalty and good faith.
The Adjuster's Code of Ethics starts with a basic premise which states: - Answer✔The work of
adjusting engages the public trust.
Breach of contract by a carrier or its adjuster, through non-payment or non-compliance with
policy requirements, could have which of the following consequences for a carrier (select one
from the following): - Answer✔If found guilty of a breach of contract, the carrier could be
punished with a "bad faith" verdict that would cost it millions of dollars.
When you purchase insurance, you are buying: - Answer✔Peace of mind that if an insured event
does occur, that the insurance company will keep its promise and provide the financial protection
that you purchased.
Which of the following would not be a preferred claims practice or behavior under Florida's
Unfair Insurance Trade Practices Act? - Answer✔Not responding to an insured's calls because
you haven't made up your mind yet.
One of the most important claim handling goals of an insurance company is: - Answer✔To help
those who have been injured, or who have suffered loss for which the insured is responsible,
while at the same time minimizing loss for the insured party and carrier.
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Insurance licensing florida Exam Questions
With Correct Answers 100% Verified.
What is the primary difference between a staff adjuster and an independent adjuster? -
Answer✔A staff adjuster works for an insurance company and an independent adjuster works
independently for themselves or for adjusting firms who represent many clients.
A couple has insured their home for $150,000. A fire ensues and guts their home, resulting in a
total loss. An appraisal of the home prior to loss results in a value of $120,000, yet the adjuster is
required by law to pay the couple $150,000. This is known as the application of: - Answer✔The
valued policy law.
The doctrine of proximate cause is defined as: - Answer✔If there is an unbroken chain of events,
or series of consequences, flowing from the initial loss caused by the insured peril to a
subsequent loss, the insured peril causing the initial loss will be considered the "proximate
cause" of the subsequent loss.
An adjuster's responsibility as a fiduciary means: - Answer✔The adjuster represents, and
controls, the property and financial interests of the client, to whom he/she owes a high degree of
loyalty and good faith.
The Adjuster's Code of Ethics starts with a basic premise which states: - Answer✔The work of
adjusting engages the public trust.
Breach of contract by a carrier or its adjuster, through non-payment or non-compliance with
policy requirements, could have which of the following consequences for a carrier (select one
from the following): - Answer✔If found guilty of a breach of contract, the carrier could be
punished with a "bad faith" verdict that would cost it millions of dollars.
When you purchase insurance, you are buying: - Answer✔Peace of mind that if an insured event
does occur, that the insurance company will keep its promise and provide the financial protection
that you purchased.
Which of the following would not be a preferred claims practice or behavior under Florida's
Unfair Insurance Trade Practices Act? - Answer✔Not responding to an insured's calls because
you haven't made up your mind yet.
One of the most important claim handling goals of an insurance company is: - Answer✔To help
those who have been injured, or who have suffered loss for which the insured is responsible,
while at the same time minimizing loss for the insured party and carrier.
1|Page
