Page 1 of 193
FLORIDA CLAIMS ADJUSTER EXAM COMPLETE 500
QUESTIONS AND DETAILED SOLUTIONS LATEST
UPDATE THIS YEAR
Florida Claims Adjuster Exam
QUESTION: A relationship that requires maintenance of a high degree of fidelity and loyalty to
the interests of the principal, whether or not the adjuster is a direct employee is defined as:
A. Fiduciary
B. Estoppel
C. Public
D. None of the Above - ANSWER-A. Fiduciary
Should always be maintained whether or not the adjuster is a direct employee
QUESTION: A written statement given by the insured to the insurer acknowledging that money
received in the settlement of damages is received, not as a final payment, but as an advance
pending an outcome of a claim against the person responsible for the damage. This is defined
as a(n):
A. Loan Receipt
B. Subrogation Loan
C. Full Release Statement
D. Partial Release Statement - ANSWER-A. Loan Receipt
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,Page 2 of 193
Enables insurer to bring an action for recovery against a third party
QUESTION: 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 - ANSWER-D. Insurable Interest
QUESTION: A(n) __________ provides comprehensive health services to its members for a
prepaid fixed fee, equivalent to an insurance premium.
A. HMO
B. PPO
C. Major Medical Plan
D. All of the Above - ANSWER-A. HMO
Referred to as an emerging and increasingly important non-insurance alternative to dealing
with risk of health care costs
A __________ is a selected group of hospitals and medical practitioners in a given area who
have joined together in an effort to reduce medical costs.
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,Page 3 of 193
A. HMO
B. Major Medical Insurance
C. Coinsurance
D. PPO - ANSWER-D. PPO
Most plans provide that emergency treatment will be paid even if treated party does not go to
service provider on approved list.
QUESTION: A customer representative appointed by a general lines agent or agency in
transacting only the business of private passenger motor vehicle insurance from the office of
that agent or agency is defined as:
A. Automobile Agent
B. Automobile Representative
C. Limited Customer Service Representative
D. Limited Customer Service Agent - ANSWER-C. Limited Customer Service Representative
QUESTION: A General Lines Agent instructs a licensed Customer Representative 4-40 to
thoroughly cover the details of a new life insurance product with every Homeowner customer
who calls or visits the office. The agent provides training on the new product. Although the
Customer Representative does not have a Life License, he or she feels comfortable with the
training and does as requested.
Which of the following is true?
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, Page 4 of 193
A. This practice is acceptable if done in the office under supervision of General Lines Agent
B. This practice is acceptable because adequate training and product knowledge was provided
C. This practice is unacceptable and may result in the suspension or revocation of the Customer
Representative's license
D. This practice is only acceptable if the product training was certified by the Life Insurance
Company - ANSWER-C. This practice is unacceptable and may result in the suspension or
revocation of the Customer Representative's license
QUESTION: A General Lines Claim Adjuster is required to obtain the same number of Continuing
Education hours as a licensed Customer Service Representative.
A. True
B. False - ANSWER-B. False
QUESTION: 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 - ANSWER-B. Mortgagee Clause
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy
4
FLORIDA CLAIMS ADJUSTER EXAM COMPLETE 500
QUESTIONS AND DETAILED SOLUTIONS LATEST
UPDATE THIS YEAR
Florida Claims Adjuster Exam
QUESTION: A relationship that requires maintenance of a high degree of fidelity and loyalty to
the interests of the principal, whether or not the adjuster is a direct employee is defined as:
A. Fiduciary
B. Estoppel
C. Public
D. None of the Above - ANSWER-A. Fiduciary
Should always be maintained whether or not the adjuster is a direct employee
QUESTION: A written statement given by the insured to the insurer acknowledging that money
received in the settlement of damages is received, not as a final payment, but as an advance
pending an outcome of a claim against the person responsible for the damage. This is defined
as a(n):
A. Loan Receipt
B. Subrogation Loan
C. Full Release Statement
D. Partial Release Statement - ANSWER-A. Loan Receipt
1
,Page 2 of 193
Enables insurer to bring an action for recovery against a third party
QUESTION: 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 - ANSWER-D. Insurable Interest
QUESTION: A(n) __________ provides comprehensive health services to its members for a
prepaid fixed fee, equivalent to an insurance premium.
A. HMO
B. PPO
C. Major Medical Plan
D. All of the Above - ANSWER-A. HMO
Referred to as an emerging and increasingly important non-insurance alternative to dealing
with risk of health care costs
A __________ is a selected group of hospitals and medical practitioners in a given area who
have joined together in an effort to reduce medical costs.
2
,Page 3 of 193
A. HMO
B. Major Medical Insurance
C. Coinsurance
D. PPO - ANSWER-D. PPO
Most plans provide that emergency treatment will be paid even if treated party does not go to
service provider on approved list.
QUESTION: A customer representative appointed by a general lines agent or agency in
transacting only the business of private passenger motor vehicle insurance from the office of
that agent or agency is defined as:
A. Automobile Agent
B. Automobile Representative
C. Limited Customer Service Representative
D. Limited Customer Service Agent - ANSWER-C. Limited Customer Service Representative
QUESTION: A General Lines Agent instructs a licensed Customer Representative 4-40 to
thoroughly cover the details of a new life insurance product with every Homeowner customer
who calls or visits the office. The agent provides training on the new product. Although the
Customer Representative does not have a Life License, he or she feels comfortable with the
training and does as requested.
Which of the following is true?
3
, Page 4 of 193
A. This practice is acceptable if done in the office under supervision of General Lines Agent
B. This practice is acceptable because adequate training and product knowledge was provided
C. This practice is unacceptable and may result in the suspension or revocation of the Customer
Representative's license
D. This practice is only acceptable if the product training was certified by the Life Insurance
Company - ANSWER-C. This practice is unacceptable and may result in the suspension or
revocation of the Customer Representative's license
QUESTION: A General Lines Claim Adjuster is required to obtain the same number of Continuing
Education hours as a licensed Customer Service Representative.
A. True
B. False - ANSWER-B. False
QUESTION: 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 - ANSWER-B. Mortgagee Clause
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy
4
