Florida Claims Adjuster Exam | 206
Questions with 100% Correct Answers |
33 Pages
Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were
F F F F F F F F F F F F F F F
listed as additional interests on his homeowner policy. The insurance company will make
F F F F F F F F F F F F F
a payment to:
F F F F
A. The first mortgagee, ABC
F F F F
B. The Insured
F F
C. Jointly to ABC and XYZ
F F F F F
D. All listed interests - AnswersD. All listed interests
F F F F F F F F
Remember that the insurer is not responsible to know the degrees of interest. In the event
F F F F F F F F F F F F F F F
of a loss, one payment is made by the insurer and it is up to the additional interests on
F F F F F F F F F F F F F F F F F F F
working out their share.
F F F F
Insurance applies separately to each insured as if other insureds did not exist. This is
F F F F F F F F F F F F F F
Fdefined as: F
A. Severability
F
B. Conditional
F
C. Warranty
F
D. None of the above - AnswersA. Severability
F F F F F F F
Property insurance policies usually contain a(n) __________ clause, stating the insured
F F F F F F F F F F
cannot dump damaged property on the insurer and demand its full value:
F F F F F F F F F F F F
A. Pro Rata
F F
B. Abandonment
F
C. Liberalization
F
D. All of the above - AnswersB. Abandonment
F F F F F F F
A(n) __________ is one wherein economic loss would be suffered from an adverse
F F F F F F F F F F F F
happening to the subject:
F F F F
A. Conditional Contract
F F
B. Personal Contract
F F
C. Economic Contract
F F
D. Insurable Interest - AnswersD. Insurable Interest
F F F F F F
,States that if the insurer adopts a revision which would broaden coverage without
F F F F F F F F F F F F
additional premium within some period of time prior to the policy period or during the
F F F F F F F F F F F F F F F
policy period, the insured receives the benefit of such broadened coverage.
F F F F F F F F F F F
A. Cancellation Clause
F F
B. Policy Period
F F
C. Pro Rata
F F
D. Liberalization - AnswersD. Liberalization
F F F F
The time frame is typically 60 days.
F F F F F F
The __________ states that when there is an unbroken connection between an
F F F F F F F F F F F
occurrence and damage that grows out of the occurrence, then the resultant damage is
F F F F F F F F F F F F F F
all a part of the occurrence.
F F F F F F
A. Doctrine of Proximate Cause
F F F F
B. Doctrine of Perils & Hazards
F F F F F
C. Insurance Policy Handbook
F F F
D. Doctrine of Property Insurance - AnswersA. Doctrine of Proximate Cause
F F F F F F F F F F
For example, if a property insurance policy covers the peril of fire but further damage is
F F F F F F F F F F F F F F F
caused by smoke, water used to extinguish, and the process of moving property away -
F F F F F F F F F F F F F F F
fire is considered to be the *proximate cause* of all of the damage.
F F F F F F F F F F F F F
The Loss Settlement Valuation that subtracts an allowance for depreciation is defined as?
F F F F F F F F F F F F
A. Actual Cash Value
F F F
B. Replacement Cost
F F
C. "Old for New"
F F F
D. None of the Above - AnswersA. Actual Cash Value
F F F F F F F F F
A policy condition, either based on information in the insured's application or inserted by
F F F F F F F F F F F F F
the insurer, is defined as:
F F F F F
A. Warranty
F
B. Misrepresentation
F
C. Concealment
F
D. None of the Above - AnswersA. Warranty
F F F F F F F
The following are basic characteristics of a property or liability insurance contract, except:
F F F F F F F F F F F F
A. Personal Contract
F F
B. Conditional Contract
F F
C. Loss of Settlement Contract
F F F F
D. Contract of Adhesion - AnswersC. Loss of Settlement Contract
F F F F F F F F F
The Insurer's responsibility to pay for a property loss may be conditioned on the insured
F F F F F F F F F F F F F F
having used reasonable means to avoid the loss, to protect the property against further
F F F F F F F F F F F F F F
loss, and to give the insurer proof of the loss is defined as?
F F F F F F F F F F F F F
A. Conditional Contract
F F
B. Adhesion Contract
F F
C. Indemnity Contract
F F
D. All of the Above - AnswersA. Conditional Contract
F F F F F F F F
,"may be conditioned" F F
Which of the following is not one of the "Thresholds" in the "No-Fault" law?
F F F F F F F F F F F F F
A. Death of the Insured
F F F F
B. Temporary Injury of the Insured
F F F F F
C. A permanent loss of a bodily function
F F F F F F F
D. Permanent scarring on the face of the insured - AnswersB. Temporary Injury of the
F F F F F F F F F F F F F F
Insured
F
Also included: permanent injury other than scarring and disfigurement
F F F F F F F F
Under Mechanical Breakdown Coverage, new cars are eligible for service up to:
F F F F F F F F F F F
A. 36 Months/36,000 Miles
F F F
B. 24 Months/36,000 Miles
F F F
C. 12,000 Months/12,000 Miles
F F F
D. 12 Months/36,000 Miles - AnswersA. 36 Months/36,000 Miles
F F F F F F F F
Used vehicles: 12 Months/12,000 Miles
F F F F
If financial responsibility doesn't exist at the time of an accident, which of the following
F F F F F F F F F F F F F F
Fthings must happen to avoid penalties?
F F F F F
A. The legally valid claims of others must be satisfied (up to 10/20/10)
F F F F F F F F F F F F
B. The owner and operator must provide certification of future responsibility for future
F F F F F F F F F F F F
Faccidents
C. Both A & B
F F F F
D. None of the Above - AnswersC. Both A & B
F F F F F F F F F F
As to required proof for future accidents by purchase of auto liability insurance, the
F F F F F F F F F F F F F
insurer must make a filing (Form SR-22) certifying that coverage is in effect, and this
F F F F F F F F F F F F F F F
certification must remain on file for __________ years:
F F F F F F F F F
A. 1 F
B. 3 F
C. 4 F
D. 2 - AnswersB. 3
F F F F
The Business Automobile Policy includes all of the following coverage forms except:
F F F F F F F F F F F
A. The Garage Coverage Form
F F F F
B. The Trailer Interchange Coverage Form
F F F F F
C. The Truckers Coverage Form
F F F F
D. The Business Auto Coverage Form - AnswersB. The Trailer Interchange Coverage
F F F F F F F F F F F
Form
F
Personal Injury Protection, or PIP, has a __________ per person, per accident limit.
F F F F F F F F F F F F
A. 10,000
F
B. 20,000
F
C. 1,000F
D. Depends on the damaged property - AnswersA. 10,000
F F F F F F F F
, Used to insure businesses engaged in selling, servicing, repairing, parking or storing
F F F F F F F F F F F
automobiles:
F
A. Servicing Coverage Form
F F F
B. Garage Coverage Form
F F F
C. Truckers Coverage Form
F F F
D. None of the Above - AnswersB. Garage Coverage Form
F F F F F F F F F
The following examples are referred to as __________ liability limits: 25/50/25 or
F F F F F F F F F F F
10/20/10.
F
A. Split
F
B. Single
F
C. Straight
F
D. None of the Above - AnswersA. Split
F F F F F F F
10/20/10 = F F
10,000 per person injured F F F
20,000 all injuries combined F F F
10,000 property damage F F
Example of straight liability limit = $30,000 F F F F F F
Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible, how much can
F F F F F F F F F F F F F F F F F
he expect his PIP coverage to pay toward his medical bills that total $3,000?
F F F F F F F F F F F F F F
A. $1,600
F
B. $1,000
F
C. $2,400
F
D. $3,000 - AnswersA. $1,600
F F F F
3000 (bills) - 1000 (deductible) =
F F F F F F
2000 x .80 (eighty percent)
F F F F
Frank has a not-at-fault accident, he has basic PIP, no deductible and Med pay of $5,000.
F F F F F F F F F F F F F F F
How much will his Med Pay contribute to medical bills of $15,000?
F F F F F F F F F F F F
A. $15,000
F
B. $5,000
F
C. $3,000
F
D. $0, Frank is not-at-fault - AnswersB. $5,000
F F F F F F F
Medical Payment limits apply per person; Frank will receive full amount towards medical
F F F F F F F F F F F F
bills.
F
Which of the following is not one of the rating factors for a Homeowner's Policy?
F F F F F F F F F F F F F F
A. Type of Construction
F F F
B. Location of Risk
F F F
C. Age & Gender of Insured
F F F F F
D. Proximity to Fire Department - AnswersC. Age & Gender of Insured
F F F F F F F F F F F
On a Homeowner's Policy, covers items that are not permanently attached to the
F F F F F F F F F F F F
dwelling. This is defined as:
F F F F F
A. Other Structures
F F
Questions with 100% Correct Answers |
33 Pages
Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were
F F F F F F F F F F F F F F F
listed as additional interests on his homeowner policy. The insurance company will make
F F F F F F F F F F F F F
a payment to:
F F F F
A. The first mortgagee, ABC
F F F F
B. The Insured
F F
C. Jointly to ABC and XYZ
F F F F F
D. All listed interests - AnswersD. All listed interests
F F F F F F F F
Remember that the insurer is not responsible to know the degrees of interest. In the event
F F F F F F F F F F F F F F F
of a loss, one payment is made by the insurer and it is up to the additional interests on
F F F F F F F F F F F F F F F F F F F
working out their share.
F F F F
Insurance applies separately to each insured as if other insureds did not exist. This is
F F F F F F F F F F F F F F
Fdefined as: F
A. Severability
F
B. Conditional
F
C. Warranty
F
D. None of the above - AnswersA. Severability
F F F F F F F
Property insurance policies usually contain a(n) __________ clause, stating the insured
F F F F F F F F F F
cannot dump damaged property on the insurer and demand its full value:
F F F F F F F F F F F F
A. Pro Rata
F F
B. Abandonment
F
C. Liberalization
F
D. All of the above - AnswersB. Abandonment
F F F F F F F
A(n) __________ is one wherein economic loss would be suffered from an adverse
F F F F F F F F F F F F
happening to the subject:
F F F F
A. Conditional Contract
F F
B. Personal Contract
F F
C. Economic Contract
F F
D. Insurable Interest - AnswersD. Insurable Interest
F F F F F F
,States that if the insurer adopts a revision which would broaden coverage without
F F F F F F F F F F F F
additional premium within some period of time prior to the policy period or during the
F F F F F F F F F F F F F F F
policy period, the insured receives the benefit of such broadened coverage.
F F F F F F F F F F F
A. Cancellation Clause
F F
B. Policy Period
F F
C. Pro Rata
F F
D. Liberalization - AnswersD. Liberalization
F F F F
The time frame is typically 60 days.
F F F F F F
The __________ states that when there is an unbroken connection between an
F F F F F F F F F F F
occurrence and damage that grows out of the occurrence, then the resultant damage is
F F F F F F F F F F F F F F
all a part of the occurrence.
F F F F F F
A. Doctrine of Proximate Cause
F F F F
B. Doctrine of Perils & Hazards
F F F F F
C. Insurance Policy Handbook
F F F
D. Doctrine of Property Insurance - AnswersA. Doctrine of Proximate Cause
F F F F F F F F F F
For example, if a property insurance policy covers the peril of fire but further damage is
F F F F F F F F F F F F F F F
caused by smoke, water used to extinguish, and the process of moving property away -
F F F F F F F F F F F F F F F
fire is considered to be the *proximate cause* of all of the damage.
F F F F F F F F F F F F F
The Loss Settlement Valuation that subtracts an allowance for depreciation is defined as?
F F F F F F F F F F F F
A. Actual Cash Value
F F F
B. Replacement Cost
F F
C. "Old for New"
F F F
D. None of the Above - AnswersA. Actual Cash Value
F F F F F F F F F
A policy condition, either based on information in the insured's application or inserted by
F F F F F F F F F F F F F
the insurer, is defined as:
F F F F F
A. Warranty
F
B. Misrepresentation
F
C. Concealment
F
D. None of the Above - AnswersA. Warranty
F F F F F F F
The following are basic characteristics of a property or liability insurance contract, except:
F F F F F F F F F F F F
A. Personal Contract
F F
B. Conditional Contract
F F
C. Loss of Settlement Contract
F F F F
D. Contract of Adhesion - AnswersC. Loss of Settlement Contract
F F F F F F F F F
The Insurer's responsibility to pay for a property loss may be conditioned on the insured
F F F F F F F F F F F F F F
having used reasonable means to avoid the loss, to protect the property against further
F F F F F F F F F F F F F F
loss, and to give the insurer proof of the loss is defined as?
F F F F F F F F F F F F F
A. Conditional Contract
F F
B. Adhesion Contract
F F
C. Indemnity Contract
F F
D. All of the Above - AnswersA. Conditional Contract
F F F F F F F F
,"may be conditioned" F F
Which of the following is not one of the "Thresholds" in the "No-Fault" law?
F F F F F F F F F F F F F
A. Death of the Insured
F F F F
B. Temporary Injury of the Insured
F F F F F
C. A permanent loss of a bodily function
F F F F F F F
D. Permanent scarring on the face of the insured - AnswersB. Temporary Injury of the
F F F F F F F F F F F F F F
Insured
F
Also included: permanent injury other than scarring and disfigurement
F F F F F F F F
Under Mechanical Breakdown Coverage, new cars are eligible for service up to:
F F F F F F F F F F F
A. 36 Months/36,000 Miles
F F F
B. 24 Months/36,000 Miles
F F F
C. 12,000 Months/12,000 Miles
F F F
D. 12 Months/36,000 Miles - AnswersA. 36 Months/36,000 Miles
F F F F F F F F
Used vehicles: 12 Months/12,000 Miles
F F F F
If financial responsibility doesn't exist at the time of an accident, which of the following
F F F F F F F F F F F F F F
Fthings must happen to avoid penalties?
F F F F F
A. The legally valid claims of others must be satisfied (up to 10/20/10)
F F F F F F F F F F F F
B. The owner and operator must provide certification of future responsibility for future
F F F F F F F F F F F F
Faccidents
C. Both A & B
F F F F
D. None of the Above - AnswersC. Both A & B
F F F F F F F F F F
As to required proof for future accidents by purchase of auto liability insurance, the
F F F F F F F F F F F F F
insurer must make a filing (Form SR-22) certifying that coverage is in effect, and this
F F F F F F F F F F F F F F F
certification must remain on file for __________ years:
F F F F F F F F F
A. 1 F
B. 3 F
C. 4 F
D. 2 - AnswersB. 3
F F F F
The Business Automobile Policy includes all of the following coverage forms except:
F F F F F F F F F F F
A. The Garage Coverage Form
F F F F
B. The Trailer Interchange Coverage Form
F F F F F
C. The Truckers Coverage Form
F F F F
D. The Business Auto Coverage Form - AnswersB. The Trailer Interchange Coverage
F F F F F F F F F F F
Form
F
Personal Injury Protection, or PIP, has a __________ per person, per accident limit.
F F F F F F F F F F F F
A. 10,000
F
B. 20,000
F
C. 1,000F
D. Depends on the damaged property - AnswersA. 10,000
F F F F F F F F
, Used to insure businesses engaged in selling, servicing, repairing, parking or storing
F F F F F F F F F F F
automobiles:
F
A. Servicing Coverage Form
F F F
B. Garage Coverage Form
F F F
C. Truckers Coverage Form
F F F
D. None of the Above - AnswersB. Garage Coverage Form
F F F F F F F F F
The following examples are referred to as __________ liability limits: 25/50/25 or
F F F F F F F F F F F
10/20/10.
F
A. Split
F
B. Single
F
C. Straight
F
D. None of the Above - AnswersA. Split
F F F F F F F
10/20/10 = F F
10,000 per person injured F F F
20,000 all injuries combined F F F
10,000 property damage F F
Example of straight liability limit = $30,000 F F F F F F
Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible, how much can
F F F F F F F F F F F F F F F F F
he expect his PIP coverage to pay toward his medical bills that total $3,000?
F F F F F F F F F F F F F F
A. $1,600
F
B. $1,000
F
C. $2,400
F
D. $3,000 - AnswersA. $1,600
F F F F
3000 (bills) - 1000 (deductible) =
F F F F F F
2000 x .80 (eighty percent)
F F F F
Frank has a not-at-fault accident, he has basic PIP, no deductible and Med pay of $5,000.
F F F F F F F F F F F F F F F
How much will his Med Pay contribute to medical bills of $15,000?
F F F F F F F F F F F F
A. $15,000
F
B. $5,000
F
C. $3,000
F
D. $0, Frank is not-at-fault - AnswersB. $5,000
F F F F F F F
Medical Payment limits apply per person; Frank will receive full amount towards medical
F F F F F F F F F F F F
bills.
F
Which of the following is not one of the rating factors for a Homeowner's Policy?
F F F F F F F F F F F F F F
A. Type of Construction
F F F
B. Location of Risk
F F F
C. Age & Gender of Insured
F F F F F
D. Proximity to Fire Department - AnswersC. Age & Gender of Insured
F F F F F F F F F F F
On a Homeowner's Policy, covers items that are not permanently attached to the
F F F F F F F F F F F F
dwelling. This is defined as:
F F F F F
A. Other Structures
F F
