FLORIDA ADJUSTERS LICENSE EXAM
PRACTICE QUESTIONS AND ANSWERS -
LATEST AND COMPLETE UPDATE WITH
VERIFIED SOLUTIONS – ASSURED PASS WITH
INSTANT DOWNLOAD PDF.
Stan built a porch for his home three years ago at a cost of $10,000. The value of
the porch has depreciated by $6,000, and it would cost $12,000 to replace it today.
After Stan's porch burnt down during a BBQ today, how much would a Standard
Fire Policy indemnify Stan for his porch? - ANSWER: 12,000 - 6,000 = 6,000
he will receive 6,000 because standard fire pays actual cash value
John moved out of his home 3 months ago and put it up for sale. While waiting for
it to sell, the pipes burst and damage the floors due to freezing.
This is not covered - ANSWER: freezing is a covered peril but is excluded if the
building is vacant and the insured has not taken responsible care to maintain heat
or shut off the water supply
DP-2 Broad Form covers what under the peril of theft? - ANSWER: Broken
windows caused by the burglar breaking in
Which of the following is covered under a DP-3
a. earthquake
,b. flood
c. water backup from sewers
4. Power failure on premises - ANSWER: Power failure on-premises
In a dwelling policies, coverage D pays for - ANSWER: Lost Rental Income
If a Florida HO policy has been in effect for fewer than 90 days For nonpayment-
related cancelation the insurer must notify the policyholder at least: - ANSWER:
10 days before cancelling
If a Florida HO policy has been in effect for fewer than 90 days for any other
approved reason the policy holder must be notified at least - ANSWER: 20 days
before cancelling
The coverage for damage to personal property off-premises is limited to 10% of
coverage c's limit in a DP-2 policy. - ANSWER: coverage c is 25,000 x 10% =
2,500
2,500 would be off-premise coverage limit
HO-5 - ANSWER: Best coverage policy
,A processing and servicing company would qualify for a BOP only if they have
less than - ANSWER: 3 million in annual rev
A "Single Occurrence" on the earthquake and volcanic eruptions for involves any
and all eruptions and/or earthquakes that take place with in a: - ANSWER: Single
168-hour Policy -7 days
The coverage limit in bob's commercial property policy goes up 2% every time the
policy renews. Which optional coverage might Bob have included as part of his
insurance package? - ANSWER: Inflation Guard
In a BOP, the General Aggregate Limit is: - ANSWER: x2 / twice the per
occurrence limit
Why has pollutant clean up and removal coverage become more popular recently?
- ANSWER: EPA fines and penalties have increased
Strict Liability - ANSWER: holds a person liable for his actions regardless of how
much care he demonstrates
Binder - ANSWER: Temporary Coverage
, After a loss covered under a dwelling policy, ordinance and law, coverage pays for
- ANSWER: Increased repair cost due to laws or codes
BOP - ANSWER: offers liability protection
Under DP-1, claims for dwelling and other structures are settled at - ANSWER:
ACV
BOP's general aggregate limit and completed operations limits are twice the
amount of the selected per occurrence limit - ANSWER: EX: per occurrence limit
300,000
600,000 GA 600,000 CO
Loss Avoidance Measures will pay up to - ANSWER: 1,000 dollars in
indemnification
This 1,000 dollar limit can include indemnification of insureds own personal labor
to prevent loss at minimum wage rates as long as it does not collectively exceed
the limit
PRACTICE QUESTIONS AND ANSWERS -
LATEST AND COMPLETE UPDATE WITH
VERIFIED SOLUTIONS – ASSURED PASS WITH
INSTANT DOWNLOAD PDF.
Stan built a porch for his home three years ago at a cost of $10,000. The value of
the porch has depreciated by $6,000, and it would cost $12,000 to replace it today.
After Stan's porch burnt down during a BBQ today, how much would a Standard
Fire Policy indemnify Stan for his porch? - ANSWER: 12,000 - 6,000 = 6,000
he will receive 6,000 because standard fire pays actual cash value
John moved out of his home 3 months ago and put it up for sale. While waiting for
it to sell, the pipes burst and damage the floors due to freezing.
This is not covered - ANSWER: freezing is a covered peril but is excluded if the
building is vacant and the insured has not taken responsible care to maintain heat
or shut off the water supply
DP-2 Broad Form covers what under the peril of theft? - ANSWER: Broken
windows caused by the burglar breaking in
Which of the following is covered under a DP-3
a. earthquake
,b. flood
c. water backup from sewers
4. Power failure on premises - ANSWER: Power failure on-premises
In a dwelling policies, coverage D pays for - ANSWER: Lost Rental Income
If a Florida HO policy has been in effect for fewer than 90 days For nonpayment-
related cancelation the insurer must notify the policyholder at least: - ANSWER:
10 days before cancelling
If a Florida HO policy has been in effect for fewer than 90 days for any other
approved reason the policy holder must be notified at least - ANSWER: 20 days
before cancelling
The coverage for damage to personal property off-premises is limited to 10% of
coverage c's limit in a DP-2 policy. - ANSWER: coverage c is 25,000 x 10% =
2,500
2,500 would be off-premise coverage limit
HO-5 - ANSWER: Best coverage policy
,A processing and servicing company would qualify for a BOP only if they have
less than - ANSWER: 3 million in annual rev
A "Single Occurrence" on the earthquake and volcanic eruptions for involves any
and all eruptions and/or earthquakes that take place with in a: - ANSWER: Single
168-hour Policy -7 days
The coverage limit in bob's commercial property policy goes up 2% every time the
policy renews. Which optional coverage might Bob have included as part of his
insurance package? - ANSWER: Inflation Guard
In a BOP, the General Aggregate Limit is: - ANSWER: x2 / twice the per
occurrence limit
Why has pollutant clean up and removal coverage become more popular recently?
- ANSWER: EPA fines and penalties have increased
Strict Liability - ANSWER: holds a person liable for his actions regardless of how
much care he demonstrates
Binder - ANSWER: Temporary Coverage
, After a loss covered under a dwelling policy, ordinance and law, coverage pays for
- ANSWER: Increased repair cost due to laws or codes
BOP - ANSWER: offers liability protection
Under DP-1, claims for dwelling and other structures are settled at - ANSWER:
ACV
BOP's general aggregate limit and completed operations limits are twice the
amount of the selected per occurrence limit - ANSWER: EX: per occurrence limit
300,000
600,000 GA 600,000 CO
Loss Avoidance Measures will pay up to - ANSWER: 1,000 dollars in
indemnification
This 1,000 dollar limit can include indemnification of insureds own personal labor
to prevent loss at minimum wage rates as long as it does not collectively exceed
the limit
