Florida Claims Adjuster Exam – 3 (206
Questions and Answers).
This optional provision states that if the insured becomes totally disabled,
premiums are waived but the coverage remains in force:
A. Waiver of Subrogation
B. Waiver of Premium
C. Waiver of Value
D. None of the Above - Correct Answers B. Waiver of Premium
"premiums are waived"
Frank owned a home that was destroyed by a hurricane. Both ABC and
XYZ Banks were listed as additional interests on his homeowner policy.
The insurance company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests - Correct Answers D. All listed interests
Remember that the insurer is not responsible to know the degrees of
interest. In the event of a loss, one payment is made by the insurer and it is
up to the additional interests on working out their share.
Insurance applies *separately* to each insured as if other insureds did not
exist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above - Correct Answers A. Severability
Property insurance policies usually contain a(n) __________ clause,
stating the insured cannot *dump damaged property* on the insurer and
demand its full value:
,A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above - Correct Answers B. Abandonment
A(n) __________ is one wherein economic loss would be suffered from an
adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest - Correct Answers D. Insurable Interest
States that if the insurer adopts a revision which would *broaden* coverage
without additional premium within some period of time prior to the policy
period or during the policy period, the insured receives the benefit of such
*broadened* coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization - Correct Answers D. Liberalization
The time frame is typically 60 days.
The __________ states that when there is an unbroken connection
between an occurrence and damage that *grows* out of the occurrence,
then the resultant damage is all a part of the occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance - Correct Answers A. Doctrine of
Proximate Cause
For example, if a property insurance policy covers the peril of fire but
further damage is caused by smoke, water used to extinguish, and the
process of moving property away - fire is considered to be the *proximate
cause* of all of the damage.
,The Loss Settlement Valuation that subtracts an allowance for depreciation
is defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above - Correct Answers A. Actual Cash Value
*A policy condition,* either based on information in the insured's application
or inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above - Correct Answers A. Warranty
The following are basic characteristics of a property or liability insurance
contract, except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion - Correct Answers C. Loss of Settlement Contract
The Insurer's responsibility to pay for a property loss *may be conditioned*
on the insured having used reasonable means to avoid the loss, to protect
the property against further loss, and to give the insurer proof of the loss is
defined as?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above - Correct Answers A. Conditional Contract
"may be conditioned"
Which of the following is not one of the "Thresholds" in the "No-Fault" law?
A. Death of the Insured
B. Temporary Injury of the Insured
C. A permanent loss of a bodily function
, D. Permanent scarring on the face of the insured - Correct Answers B.
Temporary Injury of the Insured
Also included: permanent injury other than scarring and disfigurement
Under Mechanical Breakdown Coverage, new cars are eligible for service
up to:
A. 36 Months/36,000 Miles
B. 24 Months/36,000 Miles
C. 12,000 Months/12,000 Miles
D. 12 Months/36,000 Miles - Correct Answers A. 36 Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
If financial responsibility doesn't exist at the time of an accident, which of
the following things must happen to avoid penalties?
A. The legally valid claims of others must be satisfied (up to 10/20/10)
B. The owner and operator must provide certification of future responsibility
for future accidents
C. Both A & B
D. None of the Above - Correct Answers C. Both A & B
As to required proof for future accidents by purchase of auto liability
insurance, the insurer must make a filing (Form SR-22) certifying that
coverage is in effect, and this certification must remain on file for
__________ years:
A. 1
B. 3
C. 4
D. 2 - Correct Answers B. 3
The Business *Automobile* Policy includes all of the following coverage
forms except:
A. The Garage Coverage Form
B. The Trailer Interchange Coverage Form
C. The Truckers Coverage Form
D. The Business Auto Coverage Form - Correct Answers B. The Trailer
Interchange Coverage Form
Questions and Answers).
This optional provision states that if the insured becomes totally disabled,
premiums are waived but the coverage remains in force:
A. Waiver of Subrogation
B. Waiver of Premium
C. Waiver of Value
D. None of the Above - Correct Answers B. Waiver of Premium
"premiums are waived"
Frank owned a home that was destroyed by a hurricane. Both ABC and
XYZ Banks were listed as additional interests on his homeowner policy.
The insurance company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests - Correct Answers D. All listed interests
Remember that the insurer is not responsible to know the degrees of
interest. In the event of a loss, one payment is made by the insurer and it is
up to the additional interests on working out their share.
Insurance applies *separately* to each insured as if other insureds did not
exist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above - Correct Answers A. Severability
Property insurance policies usually contain a(n) __________ clause,
stating the insured cannot *dump damaged property* on the insurer and
demand its full value:
,A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above - Correct Answers B. Abandonment
A(n) __________ is one wherein economic loss would be suffered from an
adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest - Correct Answers D. Insurable Interest
States that if the insurer adopts a revision which would *broaden* coverage
without additional premium within some period of time prior to the policy
period or during the policy period, the insured receives the benefit of such
*broadened* coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization - Correct Answers D. Liberalization
The time frame is typically 60 days.
The __________ states that when there is an unbroken connection
between an occurrence and damage that *grows* out of the occurrence,
then the resultant damage is all a part of the occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance - Correct Answers A. Doctrine of
Proximate Cause
For example, if a property insurance policy covers the peril of fire but
further damage is caused by smoke, water used to extinguish, and the
process of moving property away - fire is considered to be the *proximate
cause* of all of the damage.
,The Loss Settlement Valuation that subtracts an allowance for depreciation
is defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above - Correct Answers A. Actual Cash Value
*A policy condition,* either based on information in the insured's application
or inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above - Correct Answers A. Warranty
The following are basic characteristics of a property or liability insurance
contract, except:
A. Personal Contract
B. Conditional Contract
C. Loss of Settlement Contract
D. Contract of Adhesion - Correct Answers C. Loss of Settlement Contract
The Insurer's responsibility to pay for a property loss *may be conditioned*
on the insured having used reasonable means to avoid the loss, to protect
the property against further loss, and to give the insurer proof of the loss is
defined as?
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above - Correct Answers A. Conditional Contract
"may be conditioned"
Which of the following is not one of the "Thresholds" in the "No-Fault" law?
A. Death of the Insured
B. Temporary Injury of the Insured
C. A permanent loss of a bodily function
, D. Permanent scarring on the face of the insured - Correct Answers B.
Temporary Injury of the Insured
Also included: permanent injury other than scarring and disfigurement
Under Mechanical Breakdown Coverage, new cars are eligible for service
up to:
A. 36 Months/36,000 Miles
B. 24 Months/36,000 Miles
C. 12,000 Months/12,000 Miles
D. 12 Months/36,000 Miles - Correct Answers A. 36 Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
If financial responsibility doesn't exist at the time of an accident, which of
the following things must happen to avoid penalties?
A. The legally valid claims of others must be satisfied (up to 10/20/10)
B. The owner and operator must provide certification of future responsibility
for future accidents
C. Both A & B
D. None of the Above - Correct Answers C. Both A & B
As to required proof for future accidents by purchase of auto liability
insurance, the insurer must make a filing (Form SR-22) certifying that
coverage is in effect, and this certification must remain on file for
__________ years:
A. 1
B. 3
C. 4
D. 2 - Correct Answers B. 3
The Business *Automobile* Policy includes all of the following coverage
forms except:
A. The Garage Coverage Form
B. The Trailer Interchange Coverage Form
C. The Truckers Coverage Form
D. The Business Auto Coverage Form - Correct Answers B. The Trailer
Interchange Coverage Form