FLORIDA CLAIMS ADJUSTER EXAM | 206
QUESTIONS AND ANSWERS.
Frank owned a home that was destroyed by a hurricane. Both
homeowner policy. The insurance company will make a
payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests - correct answerD. All listed interests
Remember that the insurer is not responsible to know the
degrees of interest. In the event of a loss, one payment is made
by the insurer and it is up to the additional interests on working
out their share.
Insurance applies separately to each insured as if other
insureds did not exist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above - correct answerA. Severability
Property insurance policies usually contain a(n) __________
clause, stating the insured cannot dump damaged property on
the insurer and demand its full value:
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above - correct answerB. Abandonment
A(n) __________ is one wherein economic loss would be
suffered from an adverse happening to the subject:
,A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest - correct answerD. Insurable Interest
States that if the insurer adopts a revision which would
broaden coverage without additional premium within some
period of time prior to the policy period or during the policy
period, the insured receives the benefit of such broadened
coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization - correct answerD. Liberalization
The time frame is typically 60 days.
The __________ states that when there is an unbroken
connection between an occurrence and damage that grows out
of the occurrence, then the resultant damage is all a part of the
occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance - correct answerA. Doctrine
of Proximate Cause
For example, if a property insurance policy covers the peril of
fire but further damage is caused by smoke, water used to
extinguish, and the process of moving property away - fire is
considered to be the *proximate cause* of all of the damage.
The Loss Settlement Valuation that subtracts an allowance for
depreciation is defined as?
,A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above - correct answerA. Actual Cash Value
A policy condition, either based on information in the insured's
application or inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above - correct answerA. Warranty
The following are basic characteristics of a property or liability
insurance contract, except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion - correct answerC. Loss of Settlement
Contract
The Insurer's responsibility to pay for a property loss may be
conditioned on the insured having used reasonable means to
avoid the loss, to protect the property against further loss, and
to give the insurer proof of the loss is defined as?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above - correct answerA. Conditional Contract
"may be conditioned"
, Which of the following is not one of the "Thresholds" in the
"No-Fault" law?
A. Death of the Insured
B. Temporary Injury of the Insured
C. A permanent loss of a bodily function
D. Permanent scarring on the face of the insured - correct
answerB. Temporary Injury of the Insured
Also included: permanent injury other than scarring and
disfigurement
Under Mechanical Breakdown Coverage, new cars are eligible
for service up to:
A. 36 Months/36,000 Miles
B. 24 Months/36,000 Miles
C. 12,000 Months/12,000 Miles
D. 12 Months/36,000 Miles - correct answerA. 36
Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
If financial responsibility doesn't exist at the time of an
accident, which of the following things must happen to avoid
penalties?
A. The legally valid claims of others must be satisfied (up to
10/20/10)
B. The owner and operator must provide certification of future
responsibility for future accidents
C. Both A & B
D. None of the Above - correct answerC. Both A & B
As to required proof for future accidents by purchase of auto
liability insurance, the insurer must make a filing (Form SR-22)
QUESTIONS AND ANSWERS.
Frank owned a home that was destroyed by a hurricane. Both
homeowner policy. The insurance company will make a
payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests - correct answerD. All listed interests
Remember that the insurer is not responsible to know the
degrees of interest. In the event of a loss, one payment is made
by the insurer and it is up to the additional interests on working
out their share.
Insurance applies separately to each insured as if other
insureds did not exist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above - correct answerA. Severability
Property insurance policies usually contain a(n) __________
clause, stating the insured cannot dump damaged property on
the insurer and demand its full value:
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above - correct answerB. Abandonment
A(n) __________ is one wherein economic loss would be
suffered from an adverse happening to the subject:
,A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest - correct answerD. Insurable Interest
States that if the insurer adopts a revision which would
broaden coverage without additional premium within some
period of time prior to the policy period or during the policy
period, the insured receives the benefit of such broadened
coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization - correct answerD. Liberalization
The time frame is typically 60 days.
The __________ states that when there is an unbroken
connection between an occurrence and damage that grows out
of the occurrence, then the resultant damage is all a part of the
occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance - correct answerA. Doctrine
of Proximate Cause
For example, if a property insurance policy covers the peril of
fire but further damage is caused by smoke, water used to
extinguish, and the process of moving property away - fire is
considered to be the *proximate cause* of all of the damage.
The Loss Settlement Valuation that subtracts an allowance for
depreciation is defined as?
,A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above - correct answerA. Actual Cash Value
A policy condition, either based on information in the insured's
application or inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above - correct answerA. Warranty
The following are basic characteristics of a property or liability
insurance contract, except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion - correct answerC. Loss of Settlement
Contract
The Insurer's responsibility to pay for a property loss may be
conditioned on the insured having used reasonable means to
avoid the loss, to protect the property against further loss, and
to give the insurer proof of the loss is defined as?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above - correct answerA. Conditional Contract
"may be conditioned"
, Which of the following is not one of the "Thresholds" in the
"No-Fault" law?
A. Death of the Insured
B. Temporary Injury of the Insured
C. A permanent loss of a bodily function
D. Permanent scarring on the face of the insured - correct
answerB. Temporary Injury of the Insured
Also included: permanent injury other than scarring and
disfigurement
Under Mechanical Breakdown Coverage, new cars are eligible
for service up to:
A. 36 Months/36,000 Miles
B. 24 Months/36,000 Miles
C. 12,000 Months/12,000 Miles
D. 12 Months/36,000 Miles - correct answerA. 36
Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
If financial responsibility doesn't exist at the time of an
accident, which of the following things must happen to avoid
penalties?
A. The legally valid claims of others must be satisfied (up to
10/20/10)
B. The owner and operator must provide certification of future
responsibility for future accidents
C. Both A & B
D. None of the Above - correct answerC. Both A & B
As to required proof for future accidents by purchase of auto
liability insurance, the insurer must make a filing (Form SR-22)
