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FLORIDA 3-20 PUBLIC ADJUSTER STATE LICENSE FINAL EXAM LATEST
2025/2026 ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED|| ||BRANDNEW!!!||
A combination of property and liability coverages of two or more
separate policies in one premium - ANSWER-Package policy
Fire that is not contained in the vessel in which it was set.
Example: - ANSWER-Hostile Fire
Written agreement attached to a policy to add or subtract
insurance coverage - ANSWER-Endorsement
Covers a variety of issues including lease of premiums,
easements, sidetrack agreements and elevator maintenance
agreements. - ANSWER-Insured contract
The act o taking responsibility through agreement for something
that person may not be legally liable - ANSWER-Assumption of
liability
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Only applies to business income coverage and not to the extra
expense coverage - ANSWER-Actual cash value (bi)
The value of the property is decreased or reduced due to damage
but the property still remains some value and can be used -
ANSWER-Diminution of value
Depreciation that is initially held back, then disbursed after proof
of repairs being performed to bring property back to whole -
ANSWER-Recoverable depreciation
Economic loss that arises as a consequence of the direct or
physical loss - ANSWER-indirect loss
A statement made regarding the extent of the claim, it may be
requested in accordance with the conditions of the policy -
ANSWER-Proof of loss
Tangible property other than the products or work produced -
ANSWER-impaired property
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Works upon the principal that the more times an event is
repeated, the more predictable the outcome of a specific event -
ANSWER-Law of Large Numbers
To access the eligibility of a customer to receive their products,
decide how much coverage the client should receive, and how
much they should pay for it. - ANSWER-Underwriting
Actual cost of replacing property due to a covered peril with
property of like kind and quality without depreciation - ANSWER-
replacement cost
Exaggerating an otherwise legitimate claim for profit - ANSWER-
Soft Fraud
Unincorporated association of members in which each member
insures the other members - ANSWER-Reciprocal insurance
exchange
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An Agreement and - ANSWER-Policy
An ongoing assurance made by one party to another that certain
facts : - ANSWER-Warranty
Method whereby the insurer pays the amount of each claim for
each risk up to a limit determined in advance, and the re-insurer
pays the amount of the claim above that specified limit -
ANSWER-Exxcess of loss
A person who voluntarily gives up possession of the property -
ANSWER-bailor
One of the earliest forms of insurance - ANSWER-Ocean Marine
An insurance adjuster who works primarily outside of an office
and often meets personally with the public - ANSWER-Field
Adjuster
FLORIDA 3-20 PUBLIC ADJUSTER STATE LICENSE FINAL EXAM LATEST
2025/2026 ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED|| ||BRANDNEW!!!||
A combination of property and liability coverages of two or more
separate policies in one premium - ANSWER-Package policy
Fire that is not contained in the vessel in which it was set.
Example: - ANSWER-Hostile Fire
Written agreement attached to a policy to add or subtract
insurance coverage - ANSWER-Endorsement
Covers a variety of issues including lease of premiums,
easements, sidetrack agreements and elevator maintenance
agreements. - ANSWER-Insured contract
The act o taking responsibility through agreement for something
that person may not be legally liable - ANSWER-Assumption of
liability
,2|Page
Only applies to business income coverage and not to the extra
expense coverage - ANSWER-Actual cash value (bi)
The value of the property is decreased or reduced due to damage
but the property still remains some value and can be used -
ANSWER-Diminution of value
Depreciation that is initially held back, then disbursed after proof
of repairs being performed to bring property back to whole -
ANSWER-Recoverable depreciation
Economic loss that arises as a consequence of the direct or
physical loss - ANSWER-indirect loss
A statement made regarding the extent of the claim, it may be
requested in accordance with the conditions of the policy -
ANSWER-Proof of loss
Tangible property other than the products or work produced -
ANSWER-impaired property
,3|Page
Works upon the principal that the more times an event is
repeated, the more predictable the outcome of a specific event -
ANSWER-Law of Large Numbers
To access the eligibility of a customer to receive their products,
decide how much coverage the client should receive, and how
much they should pay for it. - ANSWER-Underwriting
Actual cost of replacing property due to a covered peril with
property of like kind and quality without depreciation - ANSWER-
replacement cost
Exaggerating an otherwise legitimate claim for profit - ANSWER-
Soft Fraud
Unincorporated association of members in which each member
insures the other members - ANSWER-Reciprocal insurance
exchange
, 4|Page
An Agreement and - ANSWER-Policy
An ongoing assurance made by one party to another that certain
facts : - ANSWER-Warranty
Method whereby the insurer pays the amount of each claim for
each risk up to a limit determined in advance, and the re-insurer
pays the amount of the claim above that specified limit -
ANSWER-Exxcess of loss
A person who voluntarily gives up possession of the property -
ANSWER-bailor
One of the earliest forms of insurance - ANSWER-Ocean Marine
An insurance adjuster who works primarily outside of an office
and often meets personally with the public - ANSWER-Field
Adjuster
