FLORIDA CLAIMS ADJUSTER EXAM QUESTIONS & ANSWERS
1. Severability: Insurance applies separately to each insured as if other
insureds did not exist.
2. Abandonment: Property insurance policies usually contain a(n)
clause, *stating the insured cannot dump damaged property on the
insurer and demand its full value.*
3. Insurable Interest: One wherein economic loss would be suffered
from an adverse happening to the subject.
4. 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..
5. Doctrine of Proximate Cause: States that when there is an unbroken
connec- tion between an occurrence and damage that grows out of
the occurrence, then the resultant damage is all a part of the
occurrence.
6. Actual Cash Value: The Loss Settlement Valuation that subtracts an
allowance for depreciation
7. Warranty: A policy condition, either based on information in the
insured's appli- cation or inserted by the insurer
8. 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?
9. Under Mechanical Breakdown Coverage, *new cars are eligible for
service up to:*: 36 Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
10.If financial responsibility doesn't exist at the time of an accident,
what happens?: The legally valid claims of others must be satisfied
(10/20/10)
The owner and operator must provide certification of future
responsibility for future accidents
11.As to required proof for future accidents by purchase of auto liability
in- surance, the insurer must make a filing (Form SR-22) certifying that
coverage is in effect, and this certification must remain on file for years:
, FLORIDA CLAIMS ADJUSTER EXAM QUESTIONS & ANSWERS
3
, FLORIDA CLAIMS ADJUSTER EXAM QUESTIONS & ANSWERS
12.The Business Automobile Policy includes all of the following
coverage forms except:: The Trailer Interchange Coverage Form
13.Personal Injury Protection, or PIP, has a per person,
per accident limit.: 10,000
14.Used to insure businesses engaged in selling, servicing, repairing,
park- ing or storing automobiles:: Garage Coverage Form
15.The following examples are referred to as liability limits:
25/50/25 or 10/20/10.: Split
10/20/10 =
10,000 per person
injured 20,000 all
injuries combined
10,000 property
damage
Example of straight liability limit = $30,000
16.Jeremy has a not at fault accident. If he has PIP with a $1,000
deductible, how much can he expect his PIP coverage to pay toward his
medical bills that total $3,000?: $1,600
3000 (bills) - 1000 (deductible) =
2000 x .80 (eighty percent)
17. Frank has a not-at-fault accident, he has basic PIP, no deductible and
Med pay of $5,000. How much will his Med Pay contribute to medical bills
of
$15,000?: $5,000
Medical Payment limits apply per person; Frank will receive full
amount towards medical bills.
18.Which of the following is not one of the rating factors for a
Homeowner's Policy?: Age & Gender of Insured
19.On a Homeowner's Policy, covers items that are not permanently
attached to the dwelling. This is defined as:: Other Structures
Examples include sheds, fences, pool houses, detached car ports, etc.
20.A lender has an insurable interest in a home and finds protection
, FLORIDA CLAIMS ADJUSTER EXAM QUESTIONS & ANSWERS
in the:: Mortgagee Clause
1. Severability: Insurance applies separately to each insured as if other
insureds did not exist.
2. Abandonment: Property insurance policies usually contain a(n)
clause, *stating the insured cannot dump damaged property on the
insurer and demand its full value.*
3. Insurable Interest: One wherein economic loss would be suffered
from an adverse happening to the subject.
4. 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..
5. Doctrine of Proximate Cause: States that when there is an unbroken
connec- tion between an occurrence and damage that grows out of
the occurrence, then the resultant damage is all a part of the
occurrence.
6. Actual Cash Value: The Loss Settlement Valuation that subtracts an
allowance for depreciation
7. Warranty: A policy condition, either based on information in the
insured's appli- cation or inserted by the insurer
8. 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?
9. Under Mechanical Breakdown Coverage, *new cars are eligible for
service up to:*: 36 Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
10.If financial responsibility doesn't exist at the time of an accident,
what happens?: The legally valid claims of others must be satisfied
(10/20/10)
The owner and operator must provide certification of future
responsibility for future accidents
11.As to required proof for future accidents by purchase of auto liability
in- surance, the insurer must make a filing (Form SR-22) certifying that
coverage is in effect, and this certification must remain on file for years:
, FLORIDA CLAIMS ADJUSTER EXAM QUESTIONS & ANSWERS
3
, FLORIDA CLAIMS ADJUSTER EXAM QUESTIONS & ANSWERS
12.The Business Automobile Policy includes all of the following
coverage forms except:: The Trailer Interchange Coverage Form
13.Personal Injury Protection, or PIP, has a per person,
per accident limit.: 10,000
14.Used to insure businesses engaged in selling, servicing, repairing,
park- ing or storing automobiles:: Garage Coverage Form
15.The following examples are referred to as liability limits:
25/50/25 or 10/20/10.: Split
10/20/10 =
10,000 per person
injured 20,000 all
injuries combined
10,000 property
damage
Example of straight liability limit = $30,000
16.Jeremy has a not at fault accident. If he has PIP with a $1,000
deductible, how much can he expect his PIP coverage to pay toward his
medical bills that total $3,000?: $1,600
3000 (bills) - 1000 (deductible) =
2000 x .80 (eighty percent)
17. Frank has a not-at-fault accident, he has basic PIP, no deductible and
Med pay of $5,000. How much will his Med Pay contribute to medical bills
of
$15,000?: $5,000
Medical Payment limits apply per person; Frank will receive full
amount towards medical bills.
18.Which of the following is not one of the rating factors for a
Homeowner's Policy?: Age & Gender of Insured
19.On a Homeowner's Policy, covers items that are not permanently
attached to the dwelling. This is defined as:: Other Structures
Examples include sheds, fences, pool houses, detached car ports, etc.
20.A lender has an insurable interest in a home and finds protection
, FLORIDA CLAIMS ADJUSTER EXAM QUESTIONS & ANSWERS
in the:: Mortgagee Clause
