FLORIDA 3-20 PUBLIC ADJUSTER STATE EXAM
140 EXAM PREPARATION PACK 2026 KEY
CONCEPTS AND REVISION NOTES
◉ Event or circumstance that causes damage.
Answer: Occurance
◉ Coverage provides for payment of losses if civil authority denies
access to the insured premises due to a covered peril.
Answer: Civil Authority
◉ Voluntary relinquishment of a known legal right.
Answer: Waiver
◉ An insurer domiciled outside the state where it writes insurance.
Answer: Foreign
◉ A state officer who administers the state's insurance laws and
regulations.
Answer: Commissioner
◉ Used as a promise to accept a bid if awarded to a company.
,Answer: Bid bond
◉ Damaged property an insurer takes over to reduce their loss after
paying a claim.
Answer: Salvage
◉ Factual statements upon which an insurance policy is based.
Answer: Representations
◉ A contract between two parties that offer the consumer little to no
leeway to negotiate the terms of the contract.
Answer: Contract of adhesion
◉ Publication in any media by the insured about goods or services.
Answer: Advertisements
◉ Also known as Absolute Liability, based on the theory of the duty
of making something sage that is inherently dangerous.
Answer: Strict Torts
◉ A house, structure, also referred to as a "primary risk".
Answer: Dwelling
, ◉ Condition enforced by the courts to do something bound under
law or in a contract.
Answer: Strict Torts
◉ Amount of loss paid by the policy holder.
Answer: Deductible
◉ Violation of an agreement between a seller and buyer in reference
to the condition, content, quality, or title of an item sold.
Answer: Breach of Warranty
◉ Compensation, reparation.
Answer: Indemnify
◉ Provides property coverage on a contractor's interest in
equipment intended for permanent installation while it is being
transported, unloaded, and installed.
Answer: Installation Floater
◉ A beneficiary of a contract only as a result of the First Party's
negligence.
Answer: Third Party
140 EXAM PREPARATION PACK 2026 KEY
CONCEPTS AND REVISION NOTES
◉ Event or circumstance that causes damage.
Answer: Occurance
◉ Coverage provides for payment of losses if civil authority denies
access to the insured premises due to a covered peril.
Answer: Civil Authority
◉ Voluntary relinquishment of a known legal right.
Answer: Waiver
◉ An insurer domiciled outside the state where it writes insurance.
Answer: Foreign
◉ A state officer who administers the state's insurance laws and
regulations.
Answer: Commissioner
◉ Used as a promise to accept a bid if awarded to a company.
,Answer: Bid bond
◉ Damaged property an insurer takes over to reduce their loss after
paying a claim.
Answer: Salvage
◉ Factual statements upon which an insurance policy is based.
Answer: Representations
◉ A contract between two parties that offer the consumer little to no
leeway to negotiate the terms of the contract.
Answer: Contract of adhesion
◉ Publication in any media by the insured about goods or services.
Answer: Advertisements
◉ Also known as Absolute Liability, based on the theory of the duty
of making something sage that is inherently dangerous.
Answer: Strict Torts
◉ A house, structure, also referred to as a "primary risk".
Answer: Dwelling
, ◉ Condition enforced by the courts to do something bound under
law or in a contract.
Answer: Strict Torts
◉ Amount of loss paid by the policy holder.
Answer: Deductible
◉ Violation of an agreement between a seller and buyer in reference
to the condition, content, quality, or title of an item sold.
Answer: Breach of Warranty
◉ Compensation, reparation.
Answer: Indemnify
◉ Provides property coverage on a contractor's interest in
equipment intended for permanent installation while it is being
transported, unloaded, and installed.
Answer: Installation Floater
◉ A beneficiary of a contract only as a result of the First Party's
negligence.
Answer: Third Party
