Florida Insurance Exam/Florida Insurance Adjuster Licensing Test/Florida Adjuster Licensing Practice Exam/Florida Adjusters License Exam/Claims Adjuster Final (Multiple Choice Questions)/Florida Claims Adjuster Exam - 3/Florida Adjuster Exam Questions And

The policy period is found in what part of an insurance contract? - Answer- Declarations Insurance policies are said to be contracts of... - Answer- Adhesion The failure to exercise due care is known as - Answer- Negligence A building is destroyed by flood. The loss of profits from renting ...

A claim in the property/casualty industry Is defined as: - Answer- an assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damages when you purchase insurance, you are buying: - Answer- peace of mi...

When Sally applies for an auto policy, her agent issues her a ________ so that she can benefit from insurance protection while he underwrites the policy. - Answer- Binder When an insurer buys insurance to reduce its exposure to loss, this is called - Answer- Reinsurance Reinsurance - Answer- i...

An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of - Answer- The insured and insurer An insurer gives which of the following as Consideration for an insurance policy? - Answer- A Promise The interest of the insured and all other persons in the property involve...

This optional provision states that if the insured becomes totally disabled, premiums are waived but the coverage remains in force: B. Waiver of Premium - Answer- B. Waiver of Premium "premiums are waived" Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were...

Which of the following is NOT one of the duties of the Department of Financial Services? b. Dept does NOT set rates nor write policies - Answer- Set rates and write policies for various company products The adjuster has a particular relationship to his principal, the insurer. Which of the follow...

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 performan...

The insurer and insured agree to a specific value of insured item - Answer- Agreed Value Policies Someone who has care, custody or control of another's property - Answer- Bailee Claim filed by policy holder against his _ - Answer- First Party Claim When a person who entrusts another with a...

The insurer and insured agree to a specific value of insured item Agreed Value Policies Someone who has care, custody or control of another's property Bailee Claim filed by policy holder against his _ First Party Claim When a person who entrusts another with an object and it...

-Insurable Interest must exist at the time of the loss. -Insurance Interest must exist for insurance to respond. *Show a similarity between insurance and wagering* -The insured would suffer an economic loss. - Answer- All of the following describe insurable interest EXCEPT -It is a personal...

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 - Answer- Loss of Settlement Contract The Insurer's responsibility to pay for a property loss may...

Frank owned a home that was destroyed by a hurricane. Both TD Bank and Bank of America were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, TD Bank B. The Insured C. Jointly to TD Bank and Bank of America D. All listed...