Florida Claims Adjuster Exam Questions and Answers

Florida Claims Adjuster Exam Questions and
Answers
Question 1
A lender has an insurable interest in a home and finds protection in the:
A. Loss Payee Clause
B. Mortgagee Clause
C. Lender Clause
D. Additional Insured Clause
Correct Answer
B. Mortgagee Clause
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy



Question 2
An agent representing a health maintenance organization, or as to health insurance
only, an insurer transacting health insurance is defined as a(n):
A. Health Agent
B. Health Representative
C. HMO Agent
D. None of the Above
Correct Answer
A. Health Agent



Question 3
An adjuster who represents the financial interests of the insured named in the policy
is defined as a(n):
A. Public Adjuster
B. Bureau Adjuster
C. Fee Adjuster
D. Independent Adjuster
Correct Answer
A. Public Adjuster




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,Question 4
Implied Waiver
Correct Answer
May result from some act of neglect on part of the adjuster



Question 5
Relieving the financial burden on the claimant by making certain payments to the
claimant even before the claim can be negotiated is defined as:
A. Advanced Payment
B. Full Release Settlement
C. Non-Advanced Payment
D. Scheduled Payment
Correct Answer
A. Advanced Payment



Question 6
The following are classes of disability, except:
A. Permanent Total
B. Temporary Total
C. Permanent Impairment
D. Temporary Full
Correct Answer
D. Temporary Full
Also included: Temporary Partial



Question 7
After pleading guilty or no contest to a felony, a licensed individual has _________ days
to inform the Department?
A. 10
B. 20
C. 30
D. 40
Correct Answer
C. 30




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,Question 8
Under Employer's Liability, the minimum limits of liability are:
A. 100/100/500
B. 100/500/1000
C. 500/100/500
D. 100/500
Correct Answer
A. 100/100/500
$100,000 for all claims in each accident
$100,000 per employee for disease
$500,000 for all disease claims



Question 9
Which parties are associated with a bond?
Correct Answer
-Principal: one who undertakes to perform, fulfill a contract, or meet an obligation
-Obligee: one who is guaranteed that the principal will perform
-Surety (Bonding Company): guarantees performance
-Indemnitor: may act as additional party at times; agrees to reimburse the surety for
any loss it may suffer from having bonded the principal



Question 10
One who is duly authorized by a subsisting certificate of authority issued by the
department to transact insurance in this state. This is defined as a(n):
A. Unauthorized
B. Certified
C. Domiciled Insurer
D. Authorized
Correct Answer
D. Authorized




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, Question 11
All of the following are components of Workers Compensation, except:
A. Up to $750,000 in Death Benefits
B. Reimbursement for Medical Expenses incurred
C. Reimbursement for lost wages on percentage basis
D. Funeral costs up to $7,500
Correct Answer
A. Up to $750,000 in Death Benefits
Compensation for death is payable if death results within one year of an accident or
if it follows disability within five years of accident.



Question 12
Salvage
Correct Answer
Damaged property that may be retrieved, reconditioned and sold to reduce an
insured loss.
Motor vehicle or mobile home is a total loss



Question 13
Known Loss
Correct Answer
Prevents insured from coverage if insured knew the loss was probable at time of
contract



Question 14
Under the Florida Unfair Insurance Trade Practices Act, penalties are provided for
misrepresentation of business practices, which include all of the following except:
A. Failing to act promptly
B. Failure to explain claim denials in writing
C. Denying claims with reasonable investigation
D. Failure to maintain complaint handling procedures
Correct Answer
C. Denying claims with reasonable investigation




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