FL All Lines Claims Adjuster Questions and Answers 2023 100% verified

What is an eligible building for flood insurance? - CORRECT ANS A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage? - CORRECT ANS Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A? - CORRECT ANS No, HO-4 (Renters personal property) What is casual labor in workers' compensation? - CORRECT ANS Labor that is casual, irregular, limited or temporary purpose. What is the waiting period for worker's compensation disability? - CORRECT ANS 7 days prior to the payment of disability benefits. If a disability lasts more than 21 days, benefits will be paid from the first day of injury. What are the parties to a surety bond - CORRECT ANS Principle, Obligee, Surety, and Indemnitor How does a crime policy value money and securities? - CORRECT ANS Money is valued at face value. Securities are valued on the day the loss was discovered. How is the employee theft coverage written? - CORRECT ANS Scheduled persons coverage, Scheduled position coverage, and blanket coverage What is the deductible in an umbrella policy? - CORRECT ANS No deductible, this is liability coverage What are the types of Health Insurance? - CORRECT ANS HMO and PPO What is the limit of medical expenses in workers' compensation? - CORRECT ANS There is no limit What does workers' compensation provide for funeral expenses? - CORRECT ANS If death results within one year of an accident, or follows a continuous disability within 5 years, then actual funeral expenses, not exceeding $7500 What is Ocean Marine coverage? - CORRECT ANS Oldest form of insurance known. Covers perils associated with water transport. What is Inland Marine Coverage? - CORRECT ANS Covers the cargo traveling overland, instead of by sea. What is "all risk" coverage in a homeowners policy? - CORRECT ANS Property insurance covering loss arising from any fortuitous cause except those specifically excluded If you know how much Coverage A is in a Homeowners' policy, do you know how much Coverage B and C would be? - CORRECT ANS Coverage B is automatically 10% of A and Coverage C is normally 50% of A. When is PIP available to the insured? - CORRECT ANS PIP is available to an insured while occupying a motor vehicle or while injured as a pedestrian in the state of FL How does PIP deductible work? - CORRECT ANS If an insured selects a deductible than that amount is always taken off the loss, even if its more than the PIP limit. What does occupying mean in regard to auto? - CORRECT ANS means in, upon, getting in, on, out, or off of a vehicle In which coverage is the insurance company's promise to defend the insured? - CORRECT ANS Liability Coverage