FL All Lines Claims Adjuster QUESTIONS
AND ANSWERS RATED A
What is an eligible building for flood insurance? Correct Answer: A structure with 2 or more
outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the
value above ground level and located within an eligible community
What is Builders Risk Coverage? Correct Answer: Covers buildings in the course of completion.
Proper coverage is 100% of expected completed value
Do all Homeowners policies contain Coverage A? Correct Answer: No, HO-4 (Renters personal
property)
What is casual labor in workers' compensation? Correct Answer: Labor that is casual, irregular,
limited or temporary purpose.
What is the waiting period for worker's compensation disability? Correct Answer: 7 days prior
to the payment of disability benefits. If a disability lasts more than 21 days, benefits will be paid
from the first day of injury.
What are the parties to a surety bond Correct Answer: Principle, Obligee, Surety, and
Indemnitor
How does a crime policy value money and securities? Correct Answer: Money is valued at face
value. Securities are valued on the day the loss was discovered.
How is the employee theft coverage written? Correct Answer: Scheduled persons coverage,
Scheduled position coverage, and blanket coverage
What is the deductible in an umbrella policy? Correct Answer: No deductible, this is liability
coverage
What are the types of Health Insurance? Correct Answer: HMO and PPO
What is the limit of medical expenses in workers' compensation? Correct Answer: There is no
limit
What does workers' compensation provide for funeral expenses? Correct Answer: If death
results within one year of an accident, or follows a continuous disability within 5 years, then
actual funeral expenses, not exceeding $7500
What is Ocean Marine coverage? Correct Answer: Oldest form of insurance known. Covers
perils associated with water transport.
AND ANSWERS RATED A
What is an eligible building for flood insurance? Correct Answer: A structure with 2 or more
outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the
value above ground level and located within an eligible community
What is Builders Risk Coverage? Correct Answer: Covers buildings in the course of completion.
Proper coverage is 100% of expected completed value
Do all Homeowners policies contain Coverage A? Correct Answer: No, HO-4 (Renters personal
property)
What is casual labor in workers' compensation? Correct Answer: Labor that is casual, irregular,
limited or temporary purpose.
What is the waiting period for worker's compensation disability? Correct Answer: 7 days prior
to the payment of disability benefits. If a disability lasts more than 21 days, benefits will be paid
from the first day of injury.
What are the parties to a surety bond Correct Answer: Principle, Obligee, Surety, and
Indemnitor
How does a crime policy value money and securities? Correct Answer: Money is valued at face
value. Securities are valued on the day the loss was discovered.
How is the employee theft coverage written? Correct Answer: Scheduled persons coverage,
Scheduled position coverage, and blanket coverage
What is the deductible in an umbrella policy? Correct Answer: No deductible, this is liability
coverage
What are the types of Health Insurance? Correct Answer: HMO and PPO
What is the limit of medical expenses in workers' compensation? Correct Answer: There is no
limit
What does workers' compensation provide for funeral expenses? Correct Answer: If death
results within one year of an accident, or follows a continuous disability within 5 years, then
actual funeral expenses, not exceeding $7500
What is Ocean Marine coverage? Correct Answer: Oldest form of insurance known. Covers
perils associated with water transport.
