Florida Claims Adjuster Exam UPDATED 2024 EXAM
203 QUESTIONS AND DETAILED ANSWERS
Under the Florida Unfair Insurance Trade Practices Act,
penalties are provided for misrepresentation of business
practices, which include all of the following except:
A. Failing to act promptly
B. Failure to explain claim denials in writing
C. Denying claims with reasonable investigation
D. Failure to maintain complaint handling procedures -
✔️CORRECT ANSWER✅-C. Denying claims with reasonable
investigation
An adjuster who represents the financial interests of the
insured named in the policy is defined as a(n): - ✔️CORRECT
ANSWER✅-Public Adjuster
When investigating liability insurance claims, which of the
following three major elements are determined: (CLD) -
✔️CORRECT ANSWER✅-Coverage
Liability
,Damages
A relationship that requires maintenance of a high degree of
fidelity and loyalty to the interests of the principal, whether or
not the adjuster is a direct employee is defined as: -
✔️CORRECT ANSWER✅-Fiduciary
Should always be maintained whether or not the adjuster is a
direct employee
An adjuster who is self employed and not affiliated with either
insurers or bureaus is defined as a(n): - ✔️CORRECT
ANSWER✅-Independent Adjuster
The adjuster's investigation may include all of the following
except:
A. Verification of Bills and Estimates
B. Photographs
C. Witness Canvasses
D. Policy Cancellation - ✔️CORRECT ANSWER✅-Policy
Cancellation
,The assertion of an alleged legal right against an insurer, which
carries with it a demand for appropriate relief, is defined as: -
✔️CORRECT ANSWER✅-Claim
Relieving the financial burden on the claimant by making
certain payments to the claimant even before the claim can be
negotiated is defined as: - ✔️CORRECT ANSWER✅-Advanced
Payment
The process of disposing of an insurance claim is defined as: -
✔️CORRECT ANSWER✅-Adjusting
Also "the negotiation period that results in an agreement"
All of the following are requirements for the "Code of Ethics,"
except:
A. Adjusters should not give legal advice
B. Adjusters may negotiate with a claimant who is represented
by an attorney
, C. A witness who requests a copy of a statement given must be
provided with one
D. Adjusters will keep an unprejudiced and open mind -
✔️CORRECT ANSWER✅-B. Adjusters may negotiate with a
claimant who is represented by an attorney
Adjusters MAY NOT. Bad, adjuster, bad!
A written statement given by the insured to the insurer
acknowledging that money received in the settlement of
damages is received, not as a final payment, but as an advance
pending an outcome of a claim against the person responsible
for the damage. This is defined as a(n): - ✔️CORRECT
ANSWER✅-Loan Receipt
Enables insurer to bring an action for recovery against a third
party
Duties and functions of the Department of Financial Services
include all of the following except:
A. Approve the issuance of licenses
B. Rating and underwriting rules
203 QUESTIONS AND DETAILED ANSWERS
Under the Florida Unfair Insurance Trade Practices Act,
penalties are provided for misrepresentation of business
practices, which include all of the following except:
A. Failing to act promptly
B. Failure to explain claim denials in writing
C. Denying claims with reasonable investigation
D. Failure to maintain complaint handling procedures -
✔️CORRECT ANSWER✅-C. Denying claims with reasonable
investigation
An adjuster who represents the financial interests of the
insured named in the policy is defined as a(n): - ✔️CORRECT
ANSWER✅-Public Adjuster
When investigating liability insurance claims, which of the
following three major elements are determined: (CLD) -
✔️CORRECT ANSWER✅-Coverage
Liability
,Damages
A relationship that requires maintenance of a high degree of
fidelity and loyalty to the interests of the principal, whether or
not the adjuster is a direct employee is defined as: -
✔️CORRECT ANSWER✅-Fiduciary
Should always be maintained whether or not the adjuster is a
direct employee
An adjuster who is self employed and not affiliated with either
insurers or bureaus is defined as a(n): - ✔️CORRECT
ANSWER✅-Independent Adjuster
The adjuster's investigation may include all of the following
except:
A. Verification of Bills and Estimates
B. Photographs
C. Witness Canvasses
D. Policy Cancellation - ✔️CORRECT ANSWER✅-Policy
Cancellation
,The assertion of an alleged legal right against an insurer, which
carries with it a demand for appropriate relief, is defined as: -
✔️CORRECT ANSWER✅-Claim
Relieving the financial burden on the claimant by making
certain payments to the claimant even before the claim can be
negotiated is defined as: - ✔️CORRECT ANSWER✅-Advanced
Payment
The process of disposing of an insurance claim is defined as: -
✔️CORRECT ANSWER✅-Adjusting
Also "the negotiation period that results in an agreement"
All of the following are requirements for the "Code of Ethics,"
except:
A. Adjusters should not give legal advice
B. Adjusters may negotiate with a claimant who is represented
by an attorney
, C. A witness who requests a copy of a statement given must be
provided with one
D. Adjusters will keep an unprejudiced and open mind -
✔️CORRECT ANSWER✅-B. Adjusters may negotiate with a
claimant who is represented by an attorney
Adjusters MAY NOT. Bad, adjuster, bad!
A written statement given by the insured to the insurer
acknowledging that money received in the settlement of
damages is received, not as a final payment, but as an advance
pending an outcome of a claim against the person responsible
for the damage. This is defined as a(n): - ✔️CORRECT
ANSWER✅-Loan Receipt
Enables insurer to bring an action for recovery against a third
party
Duties and functions of the Department of Financial Services
include all of the following except:
A. Approve the issuance of licenses
B. Rating and underwriting rules
