Florida Adjuster Licensing Practice Exam
QUESTIONS AND ANSWERS ALL CORRECT
A claim in the property/casualty industry Is defined as: Correct Answer: an assertion of an
alleged legal right against a person, entity, company or insurer that carries with it a demand for
money as compensation for injuries or damages
when you purchase insurance, you are buying: Correct Answer: peace of mind that if an insured
event does occur, that the insurance company will keep its promise and provide the financial
protection that you purchased
in today's society, the most important factor in the purchase of insurance is: Correct Answer:
trust
One of the most important claim handling goals of an insurance company is: Correct Answer: to
help those who have been injured or who have suffered loss for which the insured is responsible,
while at the same time minimizing loss for the insured party and carrier
what is the primary difference between a company employee adjuster and an independent
adjuster Correct Answer: a company employee adjuster works for an insurance company and an
independent adjuster works independently for themselves or for adjusting firms who represent
many clients
an adjuster's responsibility as a fiduciary means: Correct Answer: the adjuster represents, and
controls, the property and financial interests of the client to whom he/she owes a high degree of
loyalty and good faith
the basic and primary functions of an adjuster are: Correct Answer: investigating, evaluating,
reporting, negotiating and disposing of claims
once an adjuster is licensed, he or she must maintain a continuing education requirement. What
is that adjuster's compliance requirement in order to retain a license? Correct Answer: an
adjuster must complete 24 hours of continuing education in every 2 year compliance period, of
which 5 hours must be taken in a properly certified 5 hour law and ethics update course
the adjuster's code of ethics starts with a basic premise which states: Correct Answer: the work
of adjusting engages the public trust
Which of the following would NOT be a preferred claims practice or behavior under FL Unfair
Insurance Trade Practices Act? Correct Answer: Not responding to an insured calls because you
haven't made up your mind
what are the four critical elements of a contract? Correct Answer: 1. agreement to terms (must
understand what is given and received)
2. adequate consideration for the promises made
QUESTIONS AND ANSWERS ALL CORRECT
A claim in the property/casualty industry Is defined as: Correct Answer: an assertion of an
alleged legal right against a person, entity, company or insurer that carries with it a demand for
money as compensation for injuries or damages
when you purchase insurance, you are buying: Correct Answer: peace of mind that if an insured
event does occur, that the insurance company will keep its promise and provide the financial
protection that you purchased
in today's society, the most important factor in the purchase of insurance is: Correct Answer:
trust
One of the most important claim handling goals of an insurance company is: Correct Answer: to
help those who have been injured or who have suffered loss for which the insured is responsible,
while at the same time minimizing loss for the insured party and carrier
what is the primary difference between a company employee adjuster and an independent
adjuster Correct Answer: a company employee adjuster works for an insurance company and an
independent adjuster works independently for themselves or for adjusting firms who represent
many clients
an adjuster's responsibility as a fiduciary means: Correct Answer: the adjuster represents, and
controls, the property and financial interests of the client to whom he/she owes a high degree of
loyalty and good faith
the basic and primary functions of an adjuster are: Correct Answer: investigating, evaluating,
reporting, negotiating and disposing of claims
once an adjuster is licensed, he or she must maintain a continuing education requirement. What
is that adjuster's compliance requirement in order to retain a license? Correct Answer: an
adjuster must complete 24 hours of continuing education in every 2 year compliance period, of
which 5 hours must be taken in a properly certified 5 hour law and ethics update course
the adjuster's code of ethics starts with a basic premise which states: Correct Answer: the work
of adjusting engages the public trust
Which of the following would NOT be a preferred claims practice or behavior under FL Unfair
Insurance Trade Practices Act? Correct Answer: Not responding to an insured calls because you
haven't made up your mind
what are the four critical elements of a contract? Correct Answer: 1. agreement to terms (must
understand what is given and received)
2. adequate consideration for the promises made
