Florida Public Adjuster (Set 2) Questions And Correct Answers

Personal Property under HO-3 is covered on a - Named Peril basis Personal Property under HO-5 is covered on - an open peril basis If a commercial building has been vacant for more than 60 days, the following peril(s) are affected as regards to coverage: - Vandalism Freezing Fire Under the BOP, up to how many years can the insurer request to examine the books and records of an insured? - 3 years What is an unendorsed commercial building and personal property form, loss valuation based on? - ACV Commercial Property Builders Risk Coverage Form covers: - Buildings under construction Foundation of a building under construction Fixtures, machinery, and equipment used to service the building if they become a permanent part of the building and are located within 100 feet of the premises Every licensee must notify the Department of a change of business address within: - 30 days What type of coverage provides coverage for all perils, unless that peril is specifically excluded? - Open Perils An adjuster in Florida has moved and changed his address without notifying the Department within the required period of time. What monetary penalty can be imposed by the Department? - $250 for the first offence and a fine of $500 or suspension or revocation of the license for a subsequent offence. The term "theft" is broad enough to cover: - Robbery