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Exam (elaborations)

Florida Insurance Adjuster Licensing Test

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FLORIDA INSURANCE ADJUSTER LICENSING TEST The policy period is found in what part of an insurance contract? - CORRECT ANSWER -Declarations Insurance policies are said to be contracts of... - CORRECT ANSWER -Adhesion The failure to exercise due care is known as - CORRECT ANSWER -Negligence A building is destroyed by flood. The loss of profits from renting the building is - CORRECT ANSWER Indirect Loss The notice required for cancellation of an Auto Binders is _____ days - CORRECT ANSWER -5 Property Insurance means - CORRECT ANSWER -Insurance where the payment by the insurance company will be directly to the insured An insurance contract is based on the principle of - CORRECT ANSWER -utmost good faith two kinds of waivers are - CORRECT ANSWER -Express and Implied Proximate cause is the ____ between the occurrence and damage which grows ... the occurrence is the - CORRECT ANSWER -unbroken connection Replacement Cost may be a violation of - CORRECT ANSWER -Principle of Indemnity Coinsurance of 80% regarding a $1 million dollar property means the insured must carry insurance amount of - CORRECT ANSWER -$800,000 a 5% hurricane deductible in a homeowner's policy insuring a $100,000 home would be - CORRECT ANSWER -$5000 Giving up a known right voluntarily is known as a - CORRECT ANSWER -waiver in order for an insured's residence to be considered the insured's principal residence for the purp

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