FLORIDA ADJUSTER LICENSING EXAM 2 ACTUAL EXAM LATEST 2025 COMPLETE 60 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) A NEW UPDATED VERSION

FLORIDA LICENSING EXAM STUDY SET FOR FLORIDA INSURAN B B B B B B B



CE LICENSING SOLUTIONS
B B




1. All of the following describe insurable interest EXCEPT:
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• It must exist at the time of the loss
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• It must exist for insurance to respond
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• Shows a similarity between insurance and wagering
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• The insured would suffer an economic loss: • Shows a similarity betweenin
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surance and wagering b b




2. An Insurance Policy is a contract with all the following characteristics,E
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XCEPT:
• It is a personal contract
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• parties are of unequal power with ambiguities or unclear working resolvedin
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b favor of the insured because it is a contract of adhesion
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• Indemnity is not part of an insurance contract b b b b b b b




• There are conditions imposed on both the insurer and insured: • Indemnityis
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not part of an insurance contract
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3. An insurance contract which may contain a "gray area" or an ambiguityth
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at is generally resolved in favor of the insured because insurance is a contr
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act of:: Adhesion
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4. If an insured sells his car to another person, the buyer may be prohibitedfr
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om also receiving the insured's policy. This is because the insurance con-
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tract is a contract of:: Personal nature
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5. Strict or absolute liability: Is assigned by law or statute
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6. Jack and Connie agree to have Jack burn down Connie's house for
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$10,000. What element of a valid contract is missing?: Legal Purpose
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7. Risks that are insurable are: Pure risks b b b b b b




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,FLORIDA LICENSING EXAM STUDY SET FOR FLORIDA INSURAN
B B B B B B B



CE LICENSING SOLUTIONS
B B




8. Insurance that covers the responsibility for loss arising out of negligencet
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hat results in payment to a party other than the insured is:: Liability Insurance
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9. The goal of insurance is to restore the insured to the same economicp
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osition as before the covered loss, this is the principle of: Indemnity
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10. All of the following are ways that liability limits can be expressed except:
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• PIP Limit b




• Aggregate Limit b




• Split Limit b




• Single Limit: PIP Limitb b b




11. An insured has A SPLIT limit liability policy with 10/20/10 limits. He owesth
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e following people liability bodily injuries claims of: Passenger 1 = $12,000,
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, FLORIDA LICENSING EXAM STUDY SET FOR FLORIDA INSURAN B B B B B B B



CE LICENSING SOLUTIONS
B B




Passenger 2 = $10,000, Passenger 3 = $18,000. How much liability insurancew
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ill his policy pay for these claims?: $20,000
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12. If a lender has an insurable interest in an auto, because of the moneylo
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aned to finance the purchase, the lender would appear on the policy asthe:
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• Lessee
• Loss Payee b




• Mortgagor
• Mortgagee: Loss Payee b b




13. To turn partially damaged property over to the insurance company anda
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sk them to pay for a total loss is called: Abandonment
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14. Firemen caused water damage to a property by spraying water to put outa f
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ire. If the property insurance policy listed fire as the only named peril:: Thewate
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r damage is covered due to the concept of proximate cause
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15. XYZ Insurance Corp. filed its corporate charter in Tallahassee and has itsh
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ome office in Tampa:: In Florida, XYZ is a domestic insurer
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16. An insured has a home with a replacement cost / value of $100,000, on wh
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ich he carries an insurance policy for $80,000 with an 80% Coinsurance claus
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e. The insured has a $20,000 partial loss, the insurance company will pay how
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much for this partial loss of $20,000? (Remember $80,000 is 80% of
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$100,000): $20,000 b




17. "Actual Cash Value" ACV means:: Current cost to replace minus deprecia-
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tion
b




18. Which of the following is TRUE concerning Subrogation?: Allows insurerto
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sue a negligent third party to recover a loss paid to an insured
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3b/b23

, FLORIDA LICENSING EXAM STUDY SET FOR FLORIDA INSURAN
B B B B B B B



CE LICENSING SOLUTIONS
B B




19. All of the following may qualify for a dwelling policy EXCEPT:
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• A 6 - family dwelling
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• A beach house owned by ACME Corporation
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• A small single family home, rented by a salesman
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• An old frame home, built upon piers, valued at $10,000 and occupied by theo
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wner, Mrs. Jones. Company underwriting minimum for a homeowner policyis
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$50,000: A 6 - family dwelling
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20. All of the following are eligible for a Homeowners Policy EXCEPT:
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• A person who rents an apartment
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• A condominium owner
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• Owner-occupant of a four-family dwelling b b b b




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