Claims Adjuster's Exam (FL) UPDATED
ACTUAL Exam Questions and CORRECT
Answers
-Insurable Interest must exist at the time of the loss.
-Insurance Interest must exist for insurance to respond.
*Show a similarity between insurance and wagering*
-The insured would suffer an economic loss. - CORRECT ANSWER - All of the
following describe insurable interest EXCEPT
-It is a personal contract.
-Parties are of unequal power with ambiguities or unclear wording resolved in favor of the
insured because it is a contract of adhesion.
*Indemnity is not part of an insurance contract*
-There are conditions imposed upon both the insurer and insured. - CORRECT
ANSWER - An Insurance Policy is a contract with all of the following characteristics,
EXCEPT
-Indemnity
-Cohesion
*Adhesion*
-Conditions - CORRECT ANSWER - An insurance contract may contain a "gray area" or
an ambiguity, that is generally resolved in favor of the insured because insurance policies are
contracts of:
*Personal nature*
-Indemnity
-Adhesion
, -Actual cash value - CORRECT ANSWER - If an insured sells his car to another person,
the buyer may be prohibited from also receiving the insured's policy. This is because the
insurance contract is a contract of:
-applies to school systems.
-must have failure to use "due care."
-considers the actions of a prudent person.
*is assigned by law or statute* - CORRECT ANSWER - Strict or absolute liability:
*Legal purpose*
Competent parties
Consideration
Agreement of the parties - CORRECT ANSWER - Jack and Connie - both 50 years old
and of sound mind - agree to have Jack burn down Connie's house for $10,000. What element of
a valid contract is missing?
Speculative risk
*Pure risk*
Both A & B
None of the above - CORRECT ANSWER - Risks that are insurable are:
Not available in Florida insurance policies
Fourth party claims
Standard property insurance
*Liability* - CORRECT ANSWER - Insurance that covers the responsibility for loss
arising out of policy holder's negligence - that results in payment to a party other than the insured
is:
Adhesion
Actual Cash Value
ACTUAL Exam Questions and CORRECT
Answers
-Insurable Interest must exist at the time of the loss.
-Insurance Interest must exist for insurance to respond.
*Show a similarity between insurance and wagering*
-The insured would suffer an economic loss. - CORRECT ANSWER - All of the
following describe insurable interest EXCEPT
-It is a personal contract.
-Parties are of unequal power with ambiguities or unclear wording resolved in favor of the
insured because it is a contract of adhesion.
*Indemnity is not part of an insurance contract*
-There are conditions imposed upon both the insurer and insured. - CORRECT
ANSWER - An Insurance Policy is a contract with all of the following characteristics,
EXCEPT
-Indemnity
-Cohesion
*Adhesion*
-Conditions - CORRECT ANSWER - An insurance contract may contain a "gray area" or
an ambiguity, that is generally resolved in favor of the insured because insurance policies are
contracts of:
*Personal nature*
-Indemnity
-Adhesion
, -Actual cash value - CORRECT ANSWER - If an insured sells his car to another person,
the buyer may be prohibited from also receiving the insured's policy. This is because the
insurance contract is a contract of:
-applies to school systems.
-must have failure to use "due care."
-considers the actions of a prudent person.
*is assigned by law or statute* - CORRECT ANSWER - Strict or absolute liability:
*Legal purpose*
Competent parties
Consideration
Agreement of the parties - CORRECT ANSWER - Jack and Connie - both 50 years old
and of sound mind - agree to have Jack burn down Connie's house for $10,000. What element of
a valid contract is missing?
Speculative risk
*Pure risk*
Both A & B
None of the above - CORRECT ANSWER - Risks that are insurable are:
Not available in Florida insurance policies
Fourth party claims
Standard property insurance
*Liability* - CORRECT ANSWER - Insurance that covers the responsibility for loss
arising out of policy holder's negligence - that results in payment to a party other than the insured
is:
Adhesion
Actual Cash Value
