FL ADJUSTERS LICENSE PRACTICE EXAM WITH
COMPLETE SOLUTION – LATEST
Which Of The Following Is Not One Of The Four Critical Elements Of A Contract?
(A) A Mutual Understanding And Agreement With The Terms Of The Contract.
(B) Written Evidence Of The Agreement And Its Terms.
(C)A Legal Purpose.
(D)Consideration, Consisting Of Money Or A Promise Of Performance. Correct Answer:
(B) Written Evidence Of The Agreement And Its Terms.
Assume That Five Years Ago A Couple Insured Their Home For [Its Then Appraised
Value Of] $60,000. Two Weeks Ago They Had A Stove Fire Resulting In An Estimated
Loss Of $15,000 For Repairs. The Adjuster Finds That The Value Of Their Home Is Now
$100,000, But The Home Is Still Only Insured For $60,000 And Has A Deductible Of
$500. The Policy Has An 80% Coinsurance Clause. How Much Should The Adjuster Pay
To The Couple?
(A) $11,500
(B) $10,875
(C) $14,500
(D) $15,000 Correct Answer: (B) $10,875
,Negligence Is Described As:
(A)Liability Imposed By Jury Verdict.
(B) Liability Arising From Statutorily Imposed Liability Regardless Of Fault.
(C) Fault That Arises From Doing Something You Shouldn't Have Done, Or Not Doing
Something You Should Have Done.
(D) Fault Imposed On You Because You Have A Greater Ability To Pay. Correct
Answer: (C) Fault That Arises From Doing Something You Shouldn't Have Done, Or
Not Doing Something You Should Have Done.
Describe The Coverage's Provided In A Split Limit Policy Of 10/20/10.
(A) The Coverage Provides $10,000 In Property Damage Limits, $20,000 In Bodily
Injury For Any One Individual, And $10,000 For Bodily Injuries To Each Additional
Person Injured.
(B) The Coverage Provides $10,000 For Bodily Injury To One Individual, $20,000 For
Property Damage, And $10,000 For Bodily Injuries To Each Additional Person Injured.
(C) The Coverage Provides Up To $10,000 Of Liability Protection For Bodily Injury To
Any One Individual, An Aggregate Of $20,000 For All Bodily Injuries Regardless Of
How Many Individuals, And $10,000 For Medical Payments Coverage For The Insured's
Bodily Injury.
(D) The Coverage Provides Up To $10,000 Of Liability Protection For Bodily Injury To
Any One Individual, An Aggregate Of $20,000 For All Bodily Injuries Regardless Of
How Many Individuals, And $10,000 For Property Damage. Correct Answer: (D) The
,Coverage Provides Up To $10,000 Of Liability Protection For Bodily Injury To Any One
Individual, An Aggregate Of $20,000 For All Bodily Injuries Regardless Of How Many
Individuals, And $10,000 For Property Damage.
A Couple Has Insured Their Home For $150,000. A Fire Ensues And Guts Their Home,
Resulting In A Total Loss. An Appraisal Of The Home Prior To Loss Results In A Value
Of $120,000, Yet The Adjuster Is Required By Law To Pay The Couple $150,000. This
Is Known As The Application Of:
(A)The Valued Policy Law.
(B) Payment Of Policy Limits Plus A Penalty For Over-Insuring The Home.
(C) Replacement Cost Value
(D) Actual Cash Value Correct Answer: (A)The Valued Policy Law.
Which Of The Following Would Not Be A Preferred Claims Practice Or Behavior Under
Florida's Unfair Insurance Trade Practices Act?
(A) Not Responding To An Insured's Calls Because You Haven't Made Up Your Mind
Yet.
(B) Sending A Letter To A Claimant Explaining Why You Can't Pay Their Claim, Or
Offering A Compromise Based On Specific Facts And Legal Issues.
(C) Contacting A Witness The Day After Receiving The Claim And Getting Additional
Facts About The Accident.
, (D) Contacting An Insured Or Claimant Immediately Upon Receipt Of A Claim For
Property Damage Or Bodily Injury. Correct Answer: (A) Not Responding To An
Insured's Calls Because You Haven't Made Up Your Mind Yet.
The Doctrine Of Proximate Cause Is Defined As:
(A) The Proximity Of A Loss To An Insured Location.
(B) The Physical Link Between One Insured Loss And Another.
(C) The Primary Reason For An Event Or Accident.
(D) If There Is An Unbroken Chain Of Events, Or Series Of Consequences, Flowing
From The Initial Loss Caused By The Insured Peril To A Subsequent Loss, The Insured
Peril Causing The Initial Loss Will Be Considered The "Proximate Cause" Of The
Subsequent Loss. Correct Answer: (D) If There Is An Unbroken Chain Of Events, Or
Series Of Consequences, Flowing From The Initial Loss Caused By The Insured Peril To
A Subsequent Loss, The Insured Peril Causing The Initial Loss Will Be Considered The
"Proximate Cause" Of The Subsequent Loss.
Once An Adjuster Is Licensed, He Or She Must Maintain A Continuing Education
Requirement. Select From The Following An Adjuster's Compliance Requirement In
Order To Stay Licensed:
(A) A Newly Licensed Adjuster Must Complete 24 Hours Of Continuing Education In
Every Two Year Compliance Period, Of Which 5 Hours Must Be Taken In A Properly
Certified 5 Hour Law & Ethics Update Course.
(B) An Adjuster Has To Complete 28 Hours Of Continuing Education In Every Two
Year Compliance Requirement In The Following Categories: 12 Law, 2 Ethics And 14
Optional.
COMPLETE SOLUTION – LATEST
Which Of The Following Is Not One Of The Four Critical Elements Of A Contract?
(A) A Mutual Understanding And Agreement With The Terms Of The Contract.
(B) Written Evidence Of The Agreement And Its Terms.
(C)A Legal Purpose.
(D)Consideration, Consisting Of Money Or A Promise Of Performance. Correct Answer:
(B) Written Evidence Of The Agreement And Its Terms.
Assume That Five Years Ago A Couple Insured Their Home For [Its Then Appraised
Value Of] $60,000. Two Weeks Ago They Had A Stove Fire Resulting In An Estimated
Loss Of $15,000 For Repairs. The Adjuster Finds That The Value Of Their Home Is Now
$100,000, But The Home Is Still Only Insured For $60,000 And Has A Deductible Of
$500. The Policy Has An 80% Coinsurance Clause. How Much Should The Adjuster Pay
To The Couple?
(A) $11,500
(B) $10,875
(C) $14,500
(D) $15,000 Correct Answer: (B) $10,875
,Negligence Is Described As:
(A)Liability Imposed By Jury Verdict.
(B) Liability Arising From Statutorily Imposed Liability Regardless Of Fault.
(C) Fault That Arises From Doing Something You Shouldn't Have Done, Or Not Doing
Something You Should Have Done.
(D) Fault Imposed On You Because You Have A Greater Ability To Pay. Correct
Answer: (C) Fault That Arises From Doing Something You Shouldn't Have Done, Or
Not Doing Something You Should Have Done.
Describe The Coverage's Provided In A Split Limit Policy Of 10/20/10.
(A) The Coverage Provides $10,000 In Property Damage Limits, $20,000 In Bodily
Injury For Any One Individual, And $10,000 For Bodily Injuries To Each Additional
Person Injured.
(B) The Coverage Provides $10,000 For Bodily Injury To One Individual, $20,000 For
Property Damage, And $10,000 For Bodily Injuries To Each Additional Person Injured.
(C) The Coverage Provides Up To $10,000 Of Liability Protection For Bodily Injury To
Any One Individual, An Aggregate Of $20,000 For All Bodily Injuries Regardless Of
How Many Individuals, And $10,000 For Medical Payments Coverage For The Insured's
Bodily Injury.
(D) The Coverage Provides Up To $10,000 Of Liability Protection For Bodily Injury To
Any One Individual, An Aggregate Of $20,000 For All Bodily Injuries Regardless Of
How Many Individuals, And $10,000 For Property Damage. Correct Answer: (D) The
,Coverage Provides Up To $10,000 Of Liability Protection For Bodily Injury To Any One
Individual, An Aggregate Of $20,000 For All Bodily Injuries Regardless Of How Many
Individuals, And $10,000 For Property Damage.
A Couple Has Insured Their Home For $150,000. A Fire Ensues And Guts Their Home,
Resulting In A Total Loss. An Appraisal Of The Home Prior To Loss Results In A Value
Of $120,000, Yet The Adjuster Is Required By Law To Pay The Couple $150,000. This
Is Known As The Application Of:
(A)The Valued Policy Law.
(B) Payment Of Policy Limits Plus A Penalty For Over-Insuring The Home.
(C) Replacement Cost Value
(D) Actual Cash Value Correct Answer: (A)The Valued Policy Law.
Which Of The Following Would Not Be A Preferred Claims Practice Or Behavior Under
Florida's Unfair Insurance Trade Practices Act?
(A) Not Responding To An Insured's Calls Because You Haven't Made Up Your Mind
Yet.
(B) Sending A Letter To A Claimant Explaining Why You Can't Pay Their Claim, Or
Offering A Compromise Based On Specific Facts And Legal Issues.
(C) Contacting A Witness The Day After Receiving The Claim And Getting Additional
Facts About The Accident.
, (D) Contacting An Insured Or Claimant Immediately Upon Receipt Of A Claim For
Property Damage Or Bodily Injury. Correct Answer: (A) Not Responding To An
Insured's Calls Because You Haven't Made Up Your Mind Yet.
The Doctrine Of Proximate Cause Is Defined As:
(A) The Proximity Of A Loss To An Insured Location.
(B) The Physical Link Between One Insured Loss And Another.
(C) The Primary Reason For An Event Or Accident.
(D) If There Is An Unbroken Chain Of Events, Or Series Of Consequences, Flowing
From The Initial Loss Caused By The Insured Peril To A Subsequent Loss, The Insured
Peril Causing The Initial Loss Will Be Considered The "Proximate Cause" Of The
Subsequent Loss. Correct Answer: (D) If There Is An Unbroken Chain Of Events, Or
Series Of Consequences, Flowing From The Initial Loss Caused By The Insured Peril To
A Subsequent Loss, The Insured Peril Causing The Initial Loss Will Be Considered The
"Proximate Cause" Of The Subsequent Loss.
Once An Adjuster Is Licensed, He Or She Must Maintain A Continuing Education
Requirement. Select From The Following An Adjuster's Compliance Requirement In
Order To Stay Licensed:
(A) A Newly Licensed Adjuster Must Complete 24 Hours Of Continuing Education In
Every Two Year Compliance Period, Of Which 5 Hours Must Be Taken In A Properly
Certified 5 Hour Law & Ethics Update Course.
(B) An Adjuster Has To Complete 28 Hours Of Continuing Education In Every Two
Year Compliance Requirement In The Following Categories: 12 Law, 2 Ethics And 14
Optional.
