Florida Claims Adjuster Exam Questions &
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Terms in this set (203)
Severability Insurance applies separately to each insured as if
other insureds did not exist.
Abandonment Property insurance policies usually contain a(n)
__________ clause, stating the insured cannot dump
damaged property on the insurer and demand
its full value.
Insurable Interest One wherein economic loss would be suffered
from an adverse happening to the subject.
Liberalization 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..
,Doctrine of Proximate Cause 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.
Actual Cash Value The Loss Settlement Valuation that subtracts an
allowance for depreciation
Warranty A policy condition, either based on information in
the insured's application or inserted by the
insurer
Conditional Contract The Insurer's responsibility to pay for a property
loss may be conditioned on the insured having
used reasonable means to avoid the loss, to
protect the property against further loss, and to
give the insurer proof of the loss is defined as?
Under Mechanical Breakdown 36 Months/36,000 Miles
Coverage, new cars are eligible for
service up to: Used vehicles: 12 Months/12,000 Miles
If financial responsibility doesn't The legally valid claims of others must be
exist at the time of an accident, satisfied (10/20/10)
what happens?
The owner and operator must provide
certification of future responsibility for future
accidents
As to required proof for future 3
accidents by purchase of auto
liability insurance, the insurer must
make a filing (Form SR-22)
certifying that coverage is in effect,
and this certification must remain
on file for __________ years
, The Business Automobile Policy The Trailer Interchange Coverage Form
includes all of the following
coverage forms except:
Personal Injury Protection, or PIP, 10,000
has a __________ per person, per
accident limit.
Used to insure businesses engaged Garage Coverage Form
in selling, servicing, repairing,
parking or storing automobiles:
The following examples are Split
referred to as __________ liability limits:
25/50/25 or 10/20/10. 10/20/10 =
10,000 per person injured
20,000 all injuries combined
10,000 property damage
Example of straight liability limit = $30,000
Jeremy has a not at fault accident. If $1,600
he has PIP with a $1,000 deductible,
how much can he expect his PIP 3000 (bills) - 1000 (deductible) =
coverage to pay toward his medical 2000 x .80 (eighty percent)
bills that total $3,000?
Frank has a not-at-fault accident, he $5,000
has basic PIP, no deductible and
Med pay of $5,000. How much will Medical Payment limits apply per person; Frank
his Med Pay contribute to medical will receive full amount towards medical bills.
bills of $15,000?
Answers | 100% Verified solutions |Questions
with Correct Answers 2026 latest update!!
Save
Terms in this set (203)
Severability Insurance applies separately to each insured as if
other insureds did not exist.
Abandonment Property insurance policies usually contain a(n)
__________ clause, stating the insured cannot dump
damaged property on the insurer and demand
its full value.
Insurable Interest One wherein economic loss would be suffered
from an adverse happening to the subject.
Liberalization 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..
,Doctrine of Proximate Cause 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.
Actual Cash Value The Loss Settlement Valuation that subtracts an
allowance for depreciation
Warranty A policy condition, either based on information in
the insured's application or inserted by the
insurer
Conditional Contract The Insurer's responsibility to pay for a property
loss may be conditioned on the insured having
used reasonable means to avoid the loss, to
protect the property against further loss, and to
give the insurer proof of the loss is defined as?
Under Mechanical Breakdown 36 Months/36,000 Miles
Coverage, new cars are eligible for
service up to: Used vehicles: 12 Months/12,000 Miles
If financial responsibility doesn't The legally valid claims of others must be
exist at the time of an accident, satisfied (10/20/10)
what happens?
The owner and operator must provide
certification of future responsibility for future
accidents
As to required proof for future 3
accidents by purchase of auto
liability insurance, the insurer must
make a filing (Form SR-22)
certifying that coverage is in effect,
and this certification must remain
on file for __________ years
, The Business Automobile Policy The Trailer Interchange Coverage Form
includes all of the following
coverage forms except:
Personal Injury Protection, or PIP, 10,000
has a __________ per person, per
accident limit.
Used to insure businesses engaged Garage Coverage Form
in selling, servicing, repairing,
parking or storing automobiles:
The following examples are Split
referred to as __________ liability limits:
25/50/25 or 10/20/10. 10/20/10 =
10,000 per person injured
20,000 all injuries combined
10,000 property damage
Example of straight liability limit = $30,000
Jeremy has a not at fault accident. If $1,600
he has PIP with a $1,000 deductible,
how much can he expect his PIP 3000 (bills) - 1000 (deductible) =
coverage to pay toward his medical 2000 x .80 (eighty percent)
bills that total $3,000?
Frank has a not-at-fault accident, he $5,000
has basic PIP, no deductible and
Med pay of $5,000. How much will Medical Payment limits apply per person; Frank
his Med Pay contribute to medical will receive full amount towards medical bills.
bills of $15,000?
