1|Page
FLORIDA 3-20 PUBLIC ADJUSTER STATE LICENSE FINAL EXAM
NEWEST 2025/2026 ACTUAL EXAM WITH COMPLETE QUESTIONS
AND CORRECT DETAILED ANSWERS (100% VERIFIED ANSWERS)
|ALREADY GRADED A+| ||PROFESSOR VERIFIED||
Provides property coverage on a contractor's interest in
equipment intended for permanent installation while it is being
transported, unloaded, and installed - ANSWER-Installation
Floater
A beneficiary of a contract only as a result of the First Party's
negligence - ANSWER-Third Party
Reinsurance agreement where the insurers involved will pay
claims in direct relationship with the % of the risk that they are
insuring - ANSWER-Quota Share
Sharing the cost of replacement - ANSWER-Risk Sharing
A legal action filed by one or more persons on behalf of
themselves and others having an identical interest in the alleged
wrongdoing - ANSWER-Class-Action
,2|Page
A specific risk or cause of loss covered by an insurance policy,
such as fire, windstorm, flood, theft, etc. - ANSWER-Peril
Dangers in a store, warehouse, or office; circumstances of risks
and perils determine who is responsible for _____ - ANSWER-
Premises Liability
A loss or risk the policy doesn't cover - ANSWER-Exclusions
Technique used to transfer the risk of a person, business, or
organization in another through the use of a two-party contract -
ANSWER-Insurance
A legal two-party document describing the relationship between
the insured and the insurance company - ANSWER-Indemnity
Contract
,3|Page
Legal document that makes some person responsible for
damages their actions or products cause regardless of any fault
on their part - ANSWER-Strict Liabilty
The intention to withhold relative information about the risk from
the insurance company - ANSWER-Concealment
A subset of the claims function whereby suspicious losses are
investigated separately from the normal claims adjusters'
activities - ANSWER-Special Investigations Unit
An insurer takes no action upon realizing material changes in a
contract - ANSWER-Implied Waiver
Acts committed without negligence but result in damages -
ANSWER-Intentional Tort
Willful and illegal sinking of a ship at sea or its cargo - ANSWER-
barratry
, 4|Page
Covers physical damage as well as liability and tends to be very
broad in coverage - ANSWER-Commercial Inland Marine
Single insurance for only one kind of property at only one location
of an insured - ANSWER-Specific Coverage
Legislative Acts or Laws - ANSWER-Statutes
The insurance company to which the risk is transferred to by the
contract - ANSWER-Second Party
Hazards on private property that might attract trespassing such as
swimming pools or trampolines - ANSWER-Attractive Nuisance
An approximate calculation of amount, extent, quality, magnitude,
position, degree or worth of something - ANSWER-Estimages
Insurance company assesses, mitigates, and monitors the items
of risk that potential customers want to insure - ANSWER-Risk
management
FLORIDA 3-20 PUBLIC ADJUSTER STATE LICENSE FINAL EXAM
NEWEST 2025/2026 ACTUAL EXAM WITH COMPLETE QUESTIONS
AND CORRECT DETAILED ANSWERS (100% VERIFIED ANSWERS)
|ALREADY GRADED A+| ||PROFESSOR VERIFIED||
Provides property coverage on a contractor's interest in
equipment intended for permanent installation while it is being
transported, unloaded, and installed - ANSWER-Installation
Floater
A beneficiary of a contract only as a result of the First Party's
negligence - ANSWER-Third Party
Reinsurance agreement where the insurers involved will pay
claims in direct relationship with the % of the risk that they are
insuring - ANSWER-Quota Share
Sharing the cost of replacement - ANSWER-Risk Sharing
A legal action filed by one or more persons on behalf of
themselves and others having an identical interest in the alleged
wrongdoing - ANSWER-Class-Action
,2|Page
A specific risk or cause of loss covered by an insurance policy,
such as fire, windstorm, flood, theft, etc. - ANSWER-Peril
Dangers in a store, warehouse, or office; circumstances of risks
and perils determine who is responsible for _____ - ANSWER-
Premises Liability
A loss or risk the policy doesn't cover - ANSWER-Exclusions
Technique used to transfer the risk of a person, business, or
organization in another through the use of a two-party contract -
ANSWER-Insurance
A legal two-party document describing the relationship between
the insured and the insurance company - ANSWER-Indemnity
Contract
,3|Page
Legal document that makes some person responsible for
damages their actions or products cause regardless of any fault
on their part - ANSWER-Strict Liabilty
The intention to withhold relative information about the risk from
the insurance company - ANSWER-Concealment
A subset of the claims function whereby suspicious losses are
investigated separately from the normal claims adjusters'
activities - ANSWER-Special Investigations Unit
An insurer takes no action upon realizing material changes in a
contract - ANSWER-Implied Waiver
Acts committed without negligence but result in damages -
ANSWER-Intentional Tort
Willful and illegal sinking of a ship at sea or its cargo - ANSWER-
barratry
, 4|Page
Covers physical damage as well as liability and tends to be very
broad in coverage - ANSWER-Commercial Inland Marine
Single insurance for only one kind of property at only one location
of an insured - ANSWER-Specific Coverage
Legislative Acts or Laws - ANSWER-Statutes
The insurance company to which the risk is transferred to by the
contract - ANSWER-Second Party
Hazards on private property that might attract trespassing such as
swimming pools or trampolines - ANSWER-Attractive Nuisance
An approximate calculation of amount, extent, quality, magnitude,
position, degree or worth of something - ANSWER-Estimages
Insurance company assesses, mitigates, and monitors the items
of risk that potential customers want to insure - ANSWER-Risk
management
