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Florida 3-20 Public Adjusters State
Exam (Set 1) / Latest Questions &
Detailed Answers (A+ Guided Solutions)
Any changes that broaden coverage on the edition of the policy that the insured
holds will automatically apply without premiums-correct-answer-liberalization
cluse
Bonds that protect an employer form losses by an employee-correct-answer-
fidelity bonds
A combination of property and liability coverages of two or more separate policies
in one premium-correct-answer-Package policy
Fire that is not contained in the vessel in which it was set. Example:-correct-
answer-Hostile Fire
Written agreement attached to a policy to add or subtract insurance coverage-
correct-answer-Endorsement
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Covers a variety of issues including lease of premiums, easements, sidetrack
agreements and elevator maintenance agreements.-correct-answer-Insured
contract
The act o taking responsibility through agreement for something that person may
not be legally liable-correct-answer-Assumption of liability
Only applies to business income coverage and not to the extra expense coverage-
correct-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-correct-answer-Diminution of
value
Depreciation that is initially held back, then disbursed after proof of repairs being
performed to bring property back to whole-correct-answer-Recoverable
depreciation
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Economic loss that arises as a consequence of the direct or physical loss-correct-
answer-indirect loss
A statement made regarding the extent of the claim, it may be requested in
accordance with the conditions of the policy-correct-answer-Proof of loss
Tangible property other than the products or work produced-correct-answer-
impaired property
Works upon the principal that the more times an event is repeated, the more
predictable the outcome of a specific event-correct-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.-correct-
answer-Underwriting
Actual cost of replacing property due to a covered peril with property of like kind
and quality without depreciation-correct-answer-replacement cost
Florida 3-20 Public Adjusters State
Exam (Set 1) / Latest Questions &
Detailed Answers (A+ Guided Solutions)
Any changes that broaden coverage on the edition of the policy that the insured
holds will automatically apply without premiums-correct-answer-liberalization
cluse
Bonds that protect an employer form losses by an employee-correct-answer-
fidelity bonds
A combination of property and liability coverages of two or more separate policies
in one premium-correct-answer-Package policy
Fire that is not contained in the vessel in which it was set. Example:-correct-
answer-Hostile Fire
Written agreement attached to a policy to add or subtract insurance coverage-
correct-answer-Endorsement
,2|Page
Covers a variety of issues including lease of premiums, easements, sidetrack
agreements and elevator maintenance agreements.-correct-answer-Insured
contract
The act o taking responsibility through agreement for something that person may
not be legally liable-correct-answer-Assumption of liability
Only applies to business income coverage and not to the extra expense coverage-
correct-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-correct-answer-Diminution of
value
Depreciation that is initially held back, then disbursed after proof of repairs being
performed to bring property back to whole-correct-answer-Recoverable
depreciation
, 3|Page
Economic loss that arises as a consequence of the direct or physical loss-correct-
answer-indirect loss
A statement made regarding the extent of the claim, it may be requested in
accordance with the conditions of the policy-correct-answer-Proof of loss
Tangible property other than the products or work produced-correct-answer-
impaired property
Works upon the principal that the more times an event is repeated, the more
predictable the outcome of a specific event-correct-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.-correct-
answer-Underwriting
Actual cost of replacing property due to a covered peril with property of like kind
and quality without depreciation-correct-answer-replacement cost
