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FLORIDA 3-20 PUBLIC ADJUSTERS
STATE EXAM 2026 |150 QUESTIONS
AND VERIFIED ANSWERS | RATED A+
| NEW AND REVISED
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 an object and it results in
injury to someone can be held liable for the injury to someone. Can be
held liable for the injury i.e. Firearm or DWI - ANSWER- Negligent
Entrustment
Hazard that results from a conscious decision made by an insured to
participate in a manner or behavior more likely to result in a loss
because they have insurance - ANSWER- Moral Hazard
Used to provide temporary insurance coverage until an insurance policy
can be written - ANSWER- Binder
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Required by lenders to guarantee that outstanding loans against a job are
paid upon completion - ANSWER- Completion Bonds
The section of an insurance policy identifying the insured,
endorsements, coverages, limits, and premiums - ANSWER-
Declarations
Policyholder cannot transfer the policy to someone else without written
permission from their insurance company - ANSWER- Assignment
An instance, behavior or environment that increases the likelihood of a
loss on an insured item - ANSWER- Hazard
Actual cause or source of an incidence of destruction, injury, or loss -
ANSWER- Peril
An insurance company organized and domiciled outside the US -
ANSWER- Alien
When there is an unbroken chain of events between an occurrence and a
loss, then the loss is part of the original occurrence - ANSWER-
Proximate Cause
Is proximate cause of all subsequent damages - ANSWER- Original
Occurance
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An individual who contracts with an adjusting firm as an independent
contractor and handles claims for the insurance companies - ANSWER-
Independent Adjuster
Action or practice of the insured party is permitted to continue because
any defense against a continuation of said action or practice has been
waived by the insurer - ANSWER- Estoppel
Operate for profit, collect premiums, reserve a portion of premiums to
pay claims - ANSWER- Commercial Insurers
Any person who investigates or adjusts losses on behalf of either an
insurer or a self-insured - ANSWER- Independent Adjuster
The result of an insured's tort or wrongdoing. Consequences of a loss or
amount or type of losses suffered - ANSWER- Damages
Requires the insured to insure the named property for a specific amount
of insurance as required by the insurance company - ANSWER- Agreed
Value
Physical harm to tangible property caused by peril (loss to property or
person in which a covered peril is the proximate cause of damage or
destruction) - ANSWER- Direct loss
FLORIDA 3-20 PUBLIC ADJUSTERS
STATE EXAM 2026 |150 QUESTIONS
AND VERIFIED ANSWERS | RATED A+
| NEW AND REVISED
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 an object and it results in
injury to someone can be held liable for the injury to someone. Can be
held liable for the injury i.e. Firearm or DWI - ANSWER- Negligent
Entrustment
Hazard that results from a conscious decision made by an insured to
participate in a manner or behavior more likely to result in a loss
because they have insurance - ANSWER- Moral Hazard
Used to provide temporary insurance coverage until an insurance policy
can be written - ANSWER- Binder
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Required by lenders to guarantee that outstanding loans against a job are
paid upon completion - ANSWER- Completion Bonds
The section of an insurance policy identifying the insured,
endorsements, coverages, limits, and premiums - ANSWER-
Declarations
Policyholder cannot transfer the policy to someone else without written
permission from their insurance company - ANSWER- Assignment
An instance, behavior or environment that increases the likelihood of a
loss on an insured item - ANSWER- Hazard
Actual cause or source of an incidence of destruction, injury, or loss -
ANSWER- Peril
An insurance company organized and domiciled outside the US -
ANSWER- Alien
When there is an unbroken chain of events between an occurrence and a
loss, then the loss is part of the original occurrence - ANSWER-
Proximate Cause
Is proximate cause of all subsequent damages - ANSWER- Original
Occurance
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An individual who contracts with an adjusting firm as an independent
contractor and handles claims for the insurance companies - ANSWER-
Independent Adjuster
Action or practice of the insured party is permitted to continue because
any defense against a continuation of said action or practice has been
waived by the insurer - ANSWER- Estoppel
Operate for profit, collect premiums, reserve a portion of premiums to
pay claims - ANSWER- Commercial Insurers
Any person who investigates or adjusts losses on behalf of either an
insurer or a self-insured - ANSWER- Independent Adjuster
The result of an insured's tort or wrongdoing. Consequences of a loss or
amount or type of losses suffered - ANSWER- Damages
Requires the insured to insure the named property for a specific amount
of insurance as required by the insurance company - ANSWER- Agreed
Value
Physical harm to tangible property caused by peril (loss to property or
person in which a covered peril is the proximate cause of damage or
destruction) - ANSWER- Direct loss
