Florida 3-20 Public Adjusters State
Exam (Set 1) Questions And Answers
/. The insurer and insured agree to a specific value of insured item - Answer-✅Agreed
Value Policies
/.Someone who has care, custody or control of another's property - Answer-✅Bailee
/.Claim filed by policy holder against his _ - Answer-✅First Party Claim
/.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 - Answer-✅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 -
Answer-✅Moral Hazard
/.Used to provide temporary insurance coverage until an insurance policy can be written
- Answer-✅Binder
/.Required by lenders to guarantee that outstanding loans against a job are paid upon
completion - Answer-✅Completion Bonds
/.The section of an insurance policy identifying the insured, endorsements, coverages,
limits, and premiums - Answer-✅Declarations
/.Policyholder cannot transfer the policy to someone else without written permission
from their insurance company - Answer-✅Assignment
/.An instance, behavior or environment that increases the likelihood of a loss on an
insured item - Answer-✅Hazard
/.Actual cause or source of an incidence of destruction, injury, or loss - Answer-✅Peril
/.An insurance company organized and domiciled outside the US - Answer-✅Alien
/.When there is an unbroken chain of events between an occurrence and a loss, then
the loss is part of the original occurrence - Answer-✅Proximate Cause
, /.Is proximate cause of all subsequent damages - Answer-✅Original Occurance
/.An individual who contracts with an adjusting firm as an independent contractor and
handles claims for the insurance companies - Answer-✅Independent Adjuster
/.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 -
Answer-✅Estoppel
/.Operate for profit, collect premiums, reserve a portion of premiums to pay claims -
Answer-✅Commercial Insurers
/.Any person who investigates or adjusts losses on behalf of either an insurer or a self-
insured - Answer-✅Independent Adjuster
/.The result of an insured's tort or wrongdoing. Consequences of a loss or amount or
type of losses suffered - Answer-✅Damages
/.Requires the insured to insure the named property for a specific amount of insurance
as required by the insurance company - Answer-✅Agreed Value
/.Physical harm to tangible property caused by peril (loss to property or person in which
a covered peril is the proximate cause of damage or destruction) - Answer-✅Direct loss
/.The entity that is the "recipient" to the Principal - Answer-✅Obligee
/.Insurance contracts are written on a take it or leave it basis to the policy owner. -
Answer-✅Adhesion
/.Event or circumstance that causes damage - Answer-✅Occurance
/.Coverage provides for payment of losses if civil authority denies access to the insured
premises due to a covered peril - Answer-✅Civil Authority
/.Voluntary relinquishment of a known legal right - Answer-✅Waiver
/.An insurer domiciled outside the state where it writes insurance - Answer-✅Foreign
/.A state officer who administers the state's insurance laws and regulations - Answer-
✅Commissioner
/.Used as a promise to accept a bid if awarded to a company - Answer-✅Bid bond
Exam (Set 1) Questions And Answers
/. The insurer and insured agree to a specific value of insured item - Answer-✅Agreed
Value Policies
/.Someone who has care, custody or control of another's property - Answer-✅Bailee
/.Claim filed by policy holder against his _ - Answer-✅First Party Claim
/.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 - Answer-✅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 -
Answer-✅Moral Hazard
/.Used to provide temporary insurance coverage until an insurance policy can be written
- Answer-✅Binder
/.Required by lenders to guarantee that outstanding loans against a job are paid upon
completion - Answer-✅Completion Bonds
/.The section of an insurance policy identifying the insured, endorsements, coverages,
limits, and premiums - Answer-✅Declarations
/.Policyholder cannot transfer the policy to someone else without written permission
from their insurance company - Answer-✅Assignment
/.An instance, behavior or environment that increases the likelihood of a loss on an
insured item - Answer-✅Hazard
/.Actual cause or source of an incidence of destruction, injury, or loss - Answer-✅Peril
/.An insurance company organized and domiciled outside the US - Answer-✅Alien
/.When there is an unbroken chain of events between an occurrence and a loss, then
the loss is part of the original occurrence - Answer-✅Proximate Cause
, /.Is proximate cause of all subsequent damages - Answer-✅Original Occurance
/.An individual who contracts with an adjusting firm as an independent contractor and
handles claims for the insurance companies - Answer-✅Independent Adjuster
/.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 -
Answer-✅Estoppel
/.Operate for profit, collect premiums, reserve a portion of premiums to pay claims -
Answer-✅Commercial Insurers
/.Any person who investigates or adjusts losses on behalf of either an insurer or a self-
insured - Answer-✅Independent Adjuster
/.The result of an insured's tort or wrongdoing. Consequences of a loss or amount or
type of losses suffered - Answer-✅Damages
/.Requires the insured to insure the named property for a specific amount of insurance
as required by the insurance company - Answer-✅Agreed Value
/.Physical harm to tangible property caused by peril (loss to property or person in which
a covered peril is the proximate cause of damage or destruction) - Answer-✅Direct loss
/.The entity that is the "recipient" to the Principal - Answer-✅Obligee
/.Insurance contracts are written on a take it or leave it basis to the policy owner. -
Answer-✅Adhesion
/.Event or circumstance that causes damage - Answer-✅Occurance
/.Coverage provides for payment of losses if civil authority denies access to the insured
premises due to a covered peril - Answer-✅Civil Authority
/.Voluntary relinquishment of a known legal right - Answer-✅Waiver
/.An insurer domiciled outside the state where it writes insurance - Answer-✅Foreign
/.A state officer who administers the state's insurance laws and regulations - Answer-
✅Commissioner
/.Used as a promise to accept a bid if awarded to a company - Answer-✅Bid bond
