Florida Claims Adjuster Exam
1. Frank owned a home that was destroyed by a hurricane. Both ABC
and XYZ Banks were listed as additional interests on his homeowner
policy. The insurance company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests: D. All listed interests
Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is
made by the insurer and it is up to the additional interests on working out their share.
2. Insurance applies separately to each insured as if other insureds did not exist.
This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above: A. Severability
,3. Property
insurance policies usually contain a(n) clause, stating the
insured cannot dump damaged property on the insurer and demand its
full value:
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above: B. Abandonment
4. A(n) is one wherein economic loss would be suffered
from an adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest: D. Insurable Interest
5. States that if the insurer adopts a revision which would broaden
coverage without additional premium within some period of time prior
to the policy period or during the policy period, the insured receives
,the benefit of such broadened coverage.
, A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization: D.
Liberalization The time frame is
typically 60 days.
6. The states that when there is an unbroken connection
between an occurrence and damage that grows out of the occurrence, then
the resultant damage is all a part of the occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance: A. Doctrine of Proximate Cause
For example, if a property insurance policy covers the peril of fire but further damage is caused by smoke, water used
to extinguish, and the process of moving property away - fire is considered to be the *proximate cause* of all of the
damage.
7. The Loss Settlement Valuation that subtracts an allowance for depreciation
1. Frank owned a home that was destroyed by a hurricane. Both ABC
and XYZ Banks were listed as additional interests on his homeowner
policy. The insurance company will make a payment to:
A. The first mortgagee, ABC
B. The Insured
C. Jointly to ABC and XYZ
D. All listed interests: D. All listed interests
Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is
made by the insurer and it is up to the additional interests on working out their share.
2. Insurance applies separately to each insured as if other insureds did not exist.
This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above: A. Severability
,3. Property
insurance policies usually contain a(n) clause, stating the
insured cannot dump damaged property on the insurer and demand its
full value:
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above: B. Abandonment
4. A(n) is one wherein economic loss would be suffered
from an adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest: D. Insurable Interest
5. States that if the insurer adopts a revision which would broaden
coverage without additional premium within some period of time prior
to the policy period or during the policy period, the insured receives
,the benefit of such broadened coverage.
, A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization: D.
Liberalization The time frame is
typically 60 days.
6. The states that when there is an unbroken connection
between an occurrence and damage that grows out of the occurrence, then
the resultant damage is all a part of the occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance: A. Doctrine of Proximate Cause
For example, if a property insurance policy covers the peril of fire but further damage is caused by smoke, water used
to extinguish, and the process of moving property away - fire is considered to be the *proximate cause* of all of the
damage.
7. The Loss Settlement Valuation that subtracts an allowance for depreciation
