Florida Adjuster Exam (A+ GRADED)

Which of the following is NOT one of the duties of the Department of Financial Services? b. Dept does NOT set rates nor write policies correct answers Set rates and write policies for various company products The adjuster has a particular relationship to his principal, the insurer. Which of the following best describes this relationship? correct answers It is a fiduciary relationship. The Claims Adjuster's role in the insurance industry includes all the following EXCEPT: correct answers Gives appropriate legal advice and writes binding contracts All of the following activities are illegal for an adjuster, EXCEPT: correct answers Use only company forms to prepare releases All of the following are part of the conditions imposed upon the insured in the event of a loss, EXCEPT: correct answers Insured should negotiate on behalf of the company for 3rd party claimants. A claimant was given a settlement, which stipulated, that if the claimant did not contact the company within a certain period of time, the claim would automatically close. No release was signed. Which of the following best describes this method of settlement? correct answers No release or walk-away The Continuing Education requirement to maintain an Adjuster license in Florida is: correct answers Twenty four hours every two years. An adjuster received written notice from the Department of Financial Services regarding a claim. What length of time does he have to respond to the inquiry? correct answers 21 calendar days Comparative negligence is determined through correct answers Investigation & AnalysisAgreement between parties or by mediation or arbitrationJudge and/or jury During what period of time must an adjuster reply to communication from a policyholder on a claim? correct answers 14 days Which of the following is NOT a goal in the adjusting process? correct answers always pay the maximum limit of the policy An adjuster offered a claimant a settlement where the full payment would be presented and a release was signed. This is called a: correct answers A Full Release settlement Adjuster Jane moved from one city in Florida to another. What length of time does she have to notify the Insurance Department of the address change? correct answers 30 Days