Florida Claims Adjuster Exam – Complete Q&A Solution Guide
State of Florida – Comprehensive Exam Preparation Material.
Severability :~CORRECT ANSWER~Insurance applies separately to each
insured as if other insureds did not exist.
Abandonment :~CORRECT ANSWER~Property insurance policies usually
contain a(n) __________ clause, *stating the insured cannot dump damaged
property on the insurer and demand its full value.*
Insurable Interest :~CORRECT ANSWER~One wherein economic loss
would be suffered from an adverse happening to the subject.
Liberalization :~CORRECT ANSWER~States that if the insurer adopts a
revision which would broaden coverage without additional premium
within some period of time prior to the policy period or during the policy
period, the insured receives the benefit of such broadened coverage..
Doctrine of Proximate Cause :~CORRECT ANSWER~States that when
there is an unbroken connection between an occurrence and damage that
grows out of the occurrence, then the resultant damage is all a part of the
occurrence.
Actual Cash Value :~CORRECT ANSWER~The Loss Settlement Valuation
that subtracts an allowance for depreciation
,Warranty :~CORRECT ANSWER~A policy condition, either based on
information in the insured's application or inserted by the insurer
Conditional Contract :~CORRECT ANSWER~The Insurer's responsibility
to pay for a property loss may be conditioned on the insured having used
reasonable means to avoid the loss, to protect the property against further
loss, and to give the insurer proof of the loss is defined as?
Under Mechanical Breakdown Coverage, *new cars are eligible for service
up to:* :~CORRECT ANSWER~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? :~CORRECT ANSWER~The legally valid claims of others must
be satisfied (10/20/10)
The owner and operator must provide certification of future responsibility
for future accidents
As to required proof for future accidents by purchase of auto liability
insurance, the insurer must make a filing (Form SR-22) certifying that
coverage is in effect, and this certification must remain on file for
__________ years :~CORRECT ANSWER~3
,The Business Automobile Policy includes all of the following coverage
forms except: :~CORRECT ANSWER~The Trailer Interchange Coverage
Form
Personal Injury Protection, or PIP, has a __________ per person, per
accident limit. :~CORRECT ANSWER~10,000
Used to insure businesses engaged in selling, servicing, repairing, parking
or storing automobiles: :~CORRECT ANSWER~Garage Coverage Form
The following examples are referred to as __________ liability limits:
25/50/25 or 10/20/10. :~CORRECT ANSWER~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 much can he expect his PIP coverage to pay toward his medical bills
that total $3,000? :~CORRECT ANSWER~$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
pay of $5,000. How much will his Med Pay contribute to medical bills of
$15,000? :~CORRECT ANSWER~$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 ANSWER~Age & Gender of Insured
On a Homeowner's Policy, covers items that are not permanently attached
to the dwelling. This is defined as: :~CORRECT ANSWER~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 ANSWER~Mortgagee Clause
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy
State of Florida – Comprehensive Exam Preparation Material.
Severability :~CORRECT ANSWER~Insurance applies separately to each
insured as if other insureds did not exist.
Abandonment :~CORRECT ANSWER~Property insurance policies usually
contain a(n) __________ clause, *stating the insured cannot dump damaged
property on the insurer and demand its full value.*
Insurable Interest :~CORRECT ANSWER~One wherein economic loss
would be suffered from an adverse happening to the subject.
Liberalization :~CORRECT ANSWER~States that if the insurer adopts a
revision which would broaden coverage without additional premium
within some period of time prior to the policy period or during the policy
period, the insured receives the benefit of such broadened coverage..
Doctrine of Proximate Cause :~CORRECT ANSWER~States that when
there is an unbroken connection between an occurrence and damage that
grows out of the occurrence, then the resultant damage is all a part of the
occurrence.
Actual Cash Value :~CORRECT ANSWER~The Loss Settlement Valuation
that subtracts an allowance for depreciation
,Warranty :~CORRECT ANSWER~A policy condition, either based on
information in the insured's application or inserted by the insurer
Conditional Contract :~CORRECT ANSWER~The Insurer's responsibility
to pay for a property loss may be conditioned on the insured having used
reasonable means to avoid the loss, to protect the property against further
loss, and to give the insurer proof of the loss is defined as?
Under Mechanical Breakdown Coverage, *new cars are eligible for service
up to:* :~CORRECT ANSWER~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? :~CORRECT ANSWER~The legally valid claims of others must
be satisfied (10/20/10)
The owner and operator must provide certification of future responsibility
for future accidents
As to required proof for future accidents by purchase of auto liability
insurance, the insurer must make a filing (Form SR-22) certifying that
coverage is in effect, and this certification must remain on file for
__________ years :~CORRECT ANSWER~3
,The Business Automobile Policy includes all of the following coverage
forms except: :~CORRECT ANSWER~The Trailer Interchange Coverage
Form
Personal Injury Protection, or PIP, has a __________ per person, per
accident limit. :~CORRECT ANSWER~10,000
Used to insure businesses engaged in selling, servicing, repairing, parking
or storing automobiles: :~CORRECT ANSWER~Garage Coverage Form
The following examples are referred to as __________ liability limits:
25/50/25 or 10/20/10. :~CORRECT ANSWER~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 much can he expect his PIP coverage to pay toward his medical bills
that total $3,000? :~CORRECT ANSWER~$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
pay of $5,000. How much will his Med Pay contribute to medical bills of
$15,000? :~CORRECT ANSWER~$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 ANSWER~Age & Gender of Insured
On a Homeowner's Policy, covers items that are not permanently attached
to the dwelling. This is defined as: :~CORRECT ANSWER~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 ANSWER~Mortgagee Clause
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy
