FLORIDA 6-20 ALL LINES ADJUSTER EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+||UPDATED MAY 2024!

When there is an unbroken connection between an occurrence and the damage that arises from the occurrence, and all the resulting damage happened on account of that occurrence, this is known as? - ANSWERSThe principle of proximate cause Consideration must be given to at least one party - ANSWERScharacteristics of a contract When two or more policies apply to the same loss, the one that pays first is called? - ANSWERSPrimary The clause that protects the lender in a real property policy is the? - ANSWERSMortgagee Clause The concept that one should not profit from the payment provided by an insurance policy is known as? - ANSWERSIndemnity Payment the insurance company makes directly to the insured is? - ANSWERSProperty or first-party insurance To be considered an insurance contract, a policy must be? - ANSWERSWritten When the insured transfers his/her rights to collect for damages to the insurer, it is known as? - ANSWERSSubrogation If an insurance policy is unclear or ambiguous, in whose favor does the policy respond? - ANSWERSThe insured A partial owner of a building cannot receive full value for the building in the event of a loss because of? - ANSWERSInsurable interest Reduces the insured's damages by the degree of negligence - ANSWERSComparative negligence Exclusions, Declarations and Endorsementd - ANSWERSthe following are part of an insurance policy replacement cost minus depreciation - ANSWERSACV The Florida Valued Policy Law requires the insurer to pay $200,000 - ANSWERSThe insured's house is totally destroyed in a fire. The house is insured for $200,000. The adjuster who investigates the claims determines the ACV of the home is $185,000. No payment is made until the loss equals or exceeds the amount of the deductible and then the loss is paid in full - ANSWERSdescribe a franchise deductible Private - ANSWERSAll of the following are characteristics of an insurance contract EXCEPT? Personal, Private, Conditional, Adhesion? Only meet with the client when the attorney is present - ANSWERSIf a claimant is represented by an attorney, the adjuster should? claims information - ANSWERSAdjusters should advise claimants on? Written - ANSWERSAn adjuster is required to notify a claimant when a claim is denied. The notification must be? service to others, personal respect and proper mode of conduct - ANSWERSThe term ethics refers to? third party claim - ANSWERSWhen an adjuster deals with a claimant who is not a policyholder, this claim is known as an? Decision-making - ANSWERSThe successful adjuster/negotiator should understand that communication includes all of the following EXCEPT? Select one: A. Verbal and non-verbal messages B. Questioning C. Listening D. Decision-making