Florida Claims Adjuster Exam 2023 Questions and Answers (Graded A)

Florida Claims Adjuster Exam 2023 Questions and Answers (Graded A)Florida Claims Adjuster Exam 2023 Questions and Answers (Graded A)Severability - ANSWER-Insurance applies separately to each insured as if other insureds did not exist. Abandonment - ANSWER-Property insurance policies usually contain a(n) __________ clause, *stating the insured cannot dump damaged property on the insurer and demand its full value.* Insurable Interest - ANSWER-One wherein economic loss would be suffered from an adverse happening to the subject. Liberalization - ANSWER-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.. Doctrine of Proximate Cause - ANSWER-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. Actual Cash Value - ANSWER-The Loss Settlement Valuation that subtracts an allowance for depreciation Warranty - ANSWER-A policy condition, either based on information in the insured's application or inserted by the insurer Conditional Contract - ANSWER-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? Under Mechanical Breakdown Coverage, *new cars are eligible for service up to:* - ANSWER-36 Months/36,000 Miles Used vehicles: 12 Months/12,000 Miles If financial responsibility doesn't exist at the time of an accident, what happens? - ANSWER-The legally valid claims of others must be satisfied (10/20/10) The owner and operator must provide certification of future responsibility for future accidents