Florida 6-20 All Lines Adjuster Test 3 Questions with 100 Correct Answers Verified Updated 2024.pdf

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1. Peri:l Something that causes a loss.
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2. Hazard: Something that increases the probability that a loss will o
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3. Warranty: A policy condition, either based on information in the in
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cation or inserted by the insurer. It is a guarantee of a fact.
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sureds appli-
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4. Misrepresentation

Answer An untrue statement by the insured, made in an application for insurance but which
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does not become a part of the policy.
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5. Concealment

Answer The failure of the insured to reveal relevant facts known to the insuarneddoinnment
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applying for insurance.
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6. Abandonment

Answer Property insurance policies usually contain an ab clause, stating the
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insured cannot dump damaged property on the in demand its full
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,value.


7. Severability if other in-
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Answer The insurance applies separately to each insured as sureds did not exi
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8. Proximate Cause g


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Answer The cause having the most significant impact in bringing about the loss under gfirst- g g g g g g g g g
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ates that it on g g g


e peril at g g
party property insurance policy, when two or mor
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perils operate at the same time (i.e., concurrently) to produce a loss. C a set of r
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ules to resolve causation disputes when a property policy st covers or exclude
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s losses "caused by" a peril and there is more than work in a fact pattern. Unde
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r common law, whether the policy provid depends on which peril is chosen as
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the proximate cause.
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9. Direct Loss g




Answer Physical harm to tangible property.
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,10. Indirect Loss: Economic loss which flows as a result of direct l
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11. Actual Cash Value(ACV): Replacement Cost minus Depreciat
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12. Coinsurance

Answer The amount, generally expressed as a fixed percentage, an insure d amn uas ltspoa hy elp a
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gainst a claim after the deductible is satisfied. It's ultimately a way for thehiinnsgusre, d
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suacnhd as
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insurer to share responsibility for the risk. It c
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g reduce the cost of the insurance policy premium. Coinsurance can be written on an 80/20, 9
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0/100, or 100% rule. g g g




13. Personal Contract g




Answer Policies cover people who own and operate t automobiles.
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14. Conditional Contract g


re met. This
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Answer Also called a hypothetical contract, is a contract agree-
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clause in ed g g


, then the
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out the terms g g
g ment that only requires performance once the delineated conditions a
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legal agreement requires prior performance of another agreement or order
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to be enforceable. If the other agreement or condition is perform conditional c
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hen a loss n g g g


dition he/she g

, ontract is enforceable and the parties are bound to carry of the
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