Florida Adjuster licensing EXAM, QUESTIONS
WITH ACCURATE ANSWERS | MULTIPLE
CHOICES |2025!
Save
Terms in this set (454)
While driving, Ben was Submitting a formal request to settle the damages
struck by another driver, with Roxanne's insurer
Roxanne. Ben then filed a
claim with Roxanne's
insurer. In
essence, what was Ben
doing when he filed this
claim?
Alerting Roxanne's insurer
of his intent to take the
case to court
Submitting a formal
request to settle the
damages with Roxanne's
insurer
Ordering Roxanne's
insurer to pay for his
damages within 15 days
Admitting he was actually
"at fault"
,Mark incurred $8,000 the principle of indemnity
damage to his car in an
accident. He received
$8,000 from his insurance
company and
$4,000 from the other
driver. By receiving a
profit from the loss, Mark
could be in violation of:
the principle of financial
status.
the principle of financial
restoration.
the principle of profit and
loss.
the principle of indemnity.
What is a reserve, in A pool of collected premiums that the insurer sets
insurance terms? aside to pay claims
The amount of revenue
that the insurer sets aside
to pay employee salaries
A group of policyholders
who pay into the same
pool of premiums
A pool of collected
premiums that the insurer
sets aside to pay claims
A set of rules governing
how the insurance industry
should work
,The purpose of the to prevent an insured from making a profit on a loss.
principle of indemnity is:
to prevent an insured from
making a profit on a loss.
to transfer the risk of
financial loss from one
party to another.
to transfer the right to
collect a debt from one
party to another.
to prevent an insurer from
making a profit on a loss.
, Greg plays trombone in The principle of indemnity
his school band during
football games. During a
rally song in the stands
one day,
Greg annoys one of the
opposing team's fans, who
grabs his $400 trombone
and hurls it down the
bleachers, completely
destroying it. Greg's
insurance pays him $400
to replace the trombone,
but then the
opposing team's coach
also offers to replace the
instrument, at whatever
the cost. So Greg orders a
new
$3,200 trombone and has
the opposing team's
athletic department
absorb the cost. Which
principle has
Greg violated?
The principle of
consideration
The principle of legal
purpose
The principal of the
opposing team
The principle of indemnity
WITH ACCURATE ANSWERS | MULTIPLE
CHOICES |2025!
Save
Terms in this set (454)
While driving, Ben was Submitting a formal request to settle the damages
struck by another driver, with Roxanne's insurer
Roxanne. Ben then filed a
claim with Roxanne's
insurer. In
essence, what was Ben
doing when he filed this
claim?
Alerting Roxanne's insurer
of his intent to take the
case to court
Submitting a formal
request to settle the
damages with Roxanne's
insurer
Ordering Roxanne's
insurer to pay for his
damages within 15 days
Admitting he was actually
"at fault"
,Mark incurred $8,000 the principle of indemnity
damage to his car in an
accident. He received
$8,000 from his insurance
company and
$4,000 from the other
driver. By receiving a
profit from the loss, Mark
could be in violation of:
the principle of financial
status.
the principle of financial
restoration.
the principle of profit and
loss.
the principle of indemnity.
What is a reserve, in A pool of collected premiums that the insurer sets
insurance terms? aside to pay claims
The amount of revenue
that the insurer sets aside
to pay employee salaries
A group of policyholders
who pay into the same
pool of premiums
A pool of collected
premiums that the insurer
sets aside to pay claims
A set of rules governing
how the insurance industry
should work
,The purpose of the to prevent an insured from making a profit on a loss.
principle of indemnity is:
to prevent an insured from
making a profit on a loss.
to transfer the risk of
financial loss from one
party to another.
to transfer the right to
collect a debt from one
party to another.
to prevent an insurer from
making a profit on a loss.
, Greg plays trombone in The principle of indemnity
his school band during
football games. During a
rally song in the stands
one day,
Greg annoys one of the
opposing team's fans, who
grabs his $400 trombone
and hurls it down the
bleachers, completely
destroying it. Greg's
insurance pays him $400
to replace the trombone,
but then the
opposing team's coach
also offers to replace the
instrument, at whatever
the cost. So Greg orders a
new
$3,200 trombone and has
the opposing team's
athletic department
absorb the cost. Which
principle has
Greg violated?
The principle of
consideration
The principle of legal
purpose
The principal of the
opposing team
The principle of indemnity
