Florida Public Adjuster 3-20 Exam
Questions with Verified Answers
The insurer and insured agree to a specific value of insured item - ✔✔Agreed Value Policies
Someone who has care, custody or control of another's property - ✔✔Bailee
When a person who entrusts another with an object and it results in injury to someone can be
held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI -
✔✔Negligent Entrustment
Hazard that results from a conscious decision made by an insured to participate in a manner or
behavior more likely to result in a loss because they have insurance - ✔✔Moral Hazard
Used to provide temporary insurance coverage until an insurance policy can be written -
✔✔Binder
The section of an insurance policy identifying the insured, endorsements, coverages, limits, and
premiums - ✔✔Declarations
Actual cause or source of an incidence of destruction, injury, or loss - ✔✔Peril
Is proximate cause of all subsequent damages - ✔✔Original Occurance
Action or practice of the insured party is permitted to continue because any defense against a
continuation of said action or practice has been waived by the insurer - ✔✔Estoppel
Questions with Verified Answers
The insurer and insured agree to a specific value of insured item - ✔✔Agreed Value Policies
Someone who has care, custody or control of another's property - ✔✔Bailee
When a person who entrusts another with an object and it results in injury to someone can be
held liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI -
✔✔Negligent Entrustment
Hazard that results from a conscious decision made by an insured to participate in a manner or
behavior more likely to result in a loss because they have insurance - ✔✔Moral Hazard
Used to provide temporary insurance coverage until an insurance policy can be written -
✔✔Binder
The section of an insurance policy identifying the insured, endorsements, coverages, limits, and
premiums - ✔✔Declarations
Actual cause or source of an incidence of destruction, injury, or loss - ✔✔Peril
Is proximate cause of all subsequent damages - ✔✔Original Occurance
Action or practice of the insured party is permitted to continue because any defense against a
continuation of said action or practice has been waived by the insurer - ✔✔Estoppel
