CLAIMS ADJUSTER FINAL EXAM 2025
QUESTIONS AND ANSWERS
An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of - ANS The
insured and insurer
An insurer gives which of the following as Consideration for an insurance policy? - ANS A
Promise
The interest of the insured and all other persons in the property involved in a claim is
found in - ANS A Proof of Loss
An insured rear-ends another driver's vehicle. The auto policy that pays damages to
repair the damaged vehicle is a _______? - ANS Liability Policy
Your insurance company wrote an auto insurance binder for an owner who said that he
did not have any prior accidents. Immediately thereafter it was discovered that he did not
tell the truth. The company now wants to cancel the binder as quickly as possible. What
is true? - ANS 5 days notice required
For insurance to pay damages, an insurable interest must exist: - ANS When the loss takes
place
Texting while driving is best described as a: - ANS Hazard
1 Copyright ©2025 FYNDLAY ALL RIGHTS RESERVED.
,A covered loss is $90,000. Policy A has a limit of $100,000. Policy B has a limit of
$200,000. Both policies are pro-rata policies. How much will policy B pay for this loss? -
ANS $60,000
I sold my home yesterday, signed a deed and transferred title. Last night there was a
house fire. I had not yet cancelled my homeowner's insurance. The purchaser also had a
homeowner's policy. Which policy should pay to pay the claim? - ANS Purchaser's policy
Giving prompt notice of loss is best described as a policy: - ANS Condition
If there is a total loss by an insured peril to a FL building, the insurer must pay: - ANS Actual
Cash Value
A Loss Payable Clause refers to - ANS Lenders interest in personal property
My coin collection was appraised and my insurance company specifically insured the
valued of that collection. That is an example of: - ANS A Valued Policy
An insurance contract is based on the Principle of: - ANS Utmost Good Faith
The two kinds of waivers are: - ANS express and implied
Proximate Cause is the unbroken connection between the occurrence and ____ that
grows out of the occurrence. - ANS Damages
Which loss settlement valuation may be a violation of the Principle of Indemnity? -
ANS Replacement Cost
If the policy limit is $60,000; 80% coinsurance requirement; loss of $60,000 and the
2 Copyright ©2025 FYNDLAY ALL RIGHTS RESERVED.
, value of the property is $100,000, what loss amount will the insurer pay? - ANS $45,000
The insured has a Homeowner's insurance policy with a 5% Hurricane deductible. If
a hurricane loss of $6,000 occurs to the home that is valued and insured for $100,000,
how much will the policy pay? - ANS $1,000
A waiver is defined as - ANS Giving up a known right voluntarily
An insured signs a release to settle a claim. In the event the insured discovers injuries
or damages that were unknown at the time of settlement, what is generally true? -
ANS Release extinguished all causes of action
Which of the following is not a tort: - ANS Breach of contract
The type of damages that pays medical bills is known as: - ANS Special
A marine policy has a $1 million limit and a $100,000 franchise deductible. A covered
loss is $110,000. How much will the policy pay? - ANS $110,000
Which of the following is NOT included in a proof of loss? - ANS Replacement cost of each
item
Property and Liability policies cover: - ANS Persons
What type of tort arises from a negligent act? - ANS Unintentional
A car crash victim sued the negligent-drunk driver for damages 5 years after the
accident. What is true in FL? - ANS Statute of Limitations applies
3 Copyright ©2025 FYNDLAY ALL RIGHTS RESERVED.
QUESTIONS AND ANSWERS
An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of - ANS The
insured and insurer
An insurer gives which of the following as Consideration for an insurance policy? - ANS A
Promise
The interest of the insured and all other persons in the property involved in a claim is
found in - ANS A Proof of Loss
An insured rear-ends another driver's vehicle. The auto policy that pays damages to
repair the damaged vehicle is a _______? - ANS Liability Policy
Your insurance company wrote an auto insurance binder for an owner who said that he
did not have any prior accidents. Immediately thereafter it was discovered that he did not
tell the truth. The company now wants to cancel the binder as quickly as possible. What
is true? - ANS 5 days notice required
For insurance to pay damages, an insurable interest must exist: - ANS When the loss takes
place
Texting while driving is best described as a: - ANS Hazard
1 Copyright ©2025 FYNDLAY ALL RIGHTS RESERVED.
,A covered loss is $90,000. Policy A has a limit of $100,000. Policy B has a limit of
$200,000. Both policies are pro-rata policies. How much will policy B pay for this loss? -
ANS $60,000
I sold my home yesterday, signed a deed and transferred title. Last night there was a
house fire. I had not yet cancelled my homeowner's insurance. The purchaser also had a
homeowner's policy. Which policy should pay to pay the claim? - ANS Purchaser's policy
Giving prompt notice of loss is best described as a policy: - ANS Condition
If there is a total loss by an insured peril to a FL building, the insurer must pay: - ANS Actual
Cash Value
A Loss Payable Clause refers to - ANS Lenders interest in personal property
My coin collection was appraised and my insurance company specifically insured the
valued of that collection. That is an example of: - ANS A Valued Policy
An insurance contract is based on the Principle of: - ANS Utmost Good Faith
The two kinds of waivers are: - ANS express and implied
Proximate Cause is the unbroken connection between the occurrence and ____ that
grows out of the occurrence. - ANS Damages
Which loss settlement valuation may be a violation of the Principle of Indemnity? -
ANS Replacement Cost
If the policy limit is $60,000; 80% coinsurance requirement; loss of $60,000 and the
2 Copyright ©2025 FYNDLAY ALL RIGHTS RESERVED.
, value of the property is $100,000, what loss amount will the insurer pay? - ANS $45,000
The insured has a Homeowner's insurance policy with a 5% Hurricane deductible. If
a hurricane loss of $6,000 occurs to the home that is valued and insured for $100,000,
how much will the policy pay? - ANS $1,000
A waiver is defined as - ANS Giving up a known right voluntarily
An insured signs a release to settle a claim. In the event the insured discovers injuries
or damages that were unknown at the time of settlement, what is generally true? -
ANS Release extinguished all causes of action
Which of the following is not a tort: - ANS Breach of contract
The type of damages that pays medical bills is known as: - ANS Special
A marine policy has a $1 million limit and a $100,000 franchise deductible. A covered
loss is $110,000. How much will the policy pay? - ANS $110,000
Which of the following is NOT included in a proof of loss? - ANS Replacement cost of each
item
Property and Liability policies cover: - ANS Persons
What type of tort arises from a negligent act? - ANS Unintentional
A car crash victim sued the negligent-drunk driver for damages 5 years after the
accident. What is true in FL? - ANS Statute of Limitations applies
3 Copyright ©2025 FYNDLAY ALL RIGHTS RESERVED.
