FLORIDA 3-20 PUBLIC ADJUSTERS
STATE LICENSE FINAL EXAM 2024-2025
WITH ACTUAL CORRECT QUESTIONS
AND VERIFIED DETAILED ANSWERS
|FREQUENTLY TESTED QUESTIONS AND
SOLUTIONS |ALREADY GRADED
A+|BRAND NEW!!!|LATEST UPDATE
|GUARANTEED PASS
An insurance adjuster who works primarily outside of an office and often meets personally with the
public
Field Adjuster
Purposefully setting fire to property. Not covered under the policy if the act is committed by the insured
Arson
The attempt, by an applicant to deceive an insurance company
Misrespresentation
Personal property that is not part of the dwelling or structure
Contents
An individual that is used when a claim has been questioned by either the insured or the insurer, an
unbiased part is required to resolve the dispute
Umpire
Amount an insurer will have to pay an insured to meet the promises outlined in the insurance contract,
reduction in value of insured item
loss
An addition, deletion or change to a legal document or policy
1|Page
,Amendment
The section of an insurance policy identifying the insured, endorsements, coverages, limits and
premiums
The Declarations page
Reinsureance agreement where the insurers involved will pay claims in direct relationship with the % of
the risk they are insuring
Co-insurance
Financial investment or financial dependency that an individual or business has in a person or property
Insurable interest
Failure to use the care that a reasonable and prudent person would have used under that same or
similar circumstance
Negligence
"Insurer" has an obligation to pay covered loss, "insured" has no obligation
Unilateral insurance contract
Uninsurable because of the possibility of either loss or gain in the risk
Speculative Risk
The depreciation from the total Replacement Cost due to age, use and condition. The resulting dollar
amount is Actual Cash Value
Non-recoverable Depreciation
626.854 (3)
The insurer and insured agree to a specific value of insured item
Agreed Value Policies
Someone who has care, custody or control of another's property
Bailee
Claim filed by policy holder against his _
First Party Claim
When a person who entrusts another with an object and it results in injury to someone can be held
liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI
Negligent Entrustment
2|Page
, Hazard that results from a conscious decision made by an insured to participate in a manner or behavior
more likely to result in a loss because they have insurance
Moral Hazard
Used to provide temporary insurance coverage until an insurance policy can be written
Binder
Required by lenders to guarantee that outstanding loans against a job are paid upon completion
Completion Bonds
The section of an insurance policy identifying the insured, endorsements, coverages, limits, and
premiums
Declarations
Policyholder cannot transfer the policy to someone else without written permission from their insurance
company
Assignment
An instance, behavior or environment that increases the likelihood of a loss on an insured item
Hazard
Actual cause or source of an incidence of destruction, injury, or loss
Peril
An insurance company organized and domiciled outside the US
Alien
When there is an unbroken chain of events between an occurrence and a loss, then the loss is part of
the original occurrence
Proximate Cause
Is proximate cause of all subsequent damages
Original Occurance
An individual who contracts with an adjusting firm as an independent contractor and handles claims for
the insurance companies
Independent Adjuster
Action or practice of the insured party is permitted to continue because any defense against a
continuation of said action or practice has been waived by the insurer
Estoppel
Operate for profit, collect premiums, reserve a portion of premiums to pay claims
3|Page
STATE LICENSE FINAL EXAM 2024-2025
WITH ACTUAL CORRECT QUESTIONS
AND VERIFIED DETAILED ANSWERS
|FREQUENTLY TESTED QUESTIONS AND
SOLUTIONS |ALREADY GRADED
A+|BRAND NEW!!!|LATEST UPDATE
|GUARANTEED PASS
An insurance adjuster who works primarily outside of an office and often meets personally with the
public
Field Adjuster
Purposefully setting fire to property. Not covered under the policy if the act is committed by the insured
Arson
The attempt, by an applicant to deceive an insurance company
Misrespresentation
Personal property that is not part of the dwelling or structure
Contents
An individual that is used when a claim has been questioned by either the insured or the insurer, an
unbiased part is required to resolve the dispute
Umpire
Amount an insurer will have to pay an insured to meet the promises outlined in the insurance contract,
reduction in value of insured item
loss
An addition, deletion or change to a legal document or policy
1|Page
,Amendment
The section of an insurance policy identifying the insured, endorsements, coverages, limits and
premiums
The Declarations page
Reinsureance agreement where the insurers involved will pay claims in direct relationship with the % of
the risk they are insuring
Co-insurance
Financial investment or financial dependency that an individual or business has in a person or property
Insurable interest
Failure to use the care that a reasonable and prudent person would have used under that same or
similar circumstance
Negligence
"Insurer" has an obligation to pay covered loss, "insured" has no obligation
Unilateral insurance contract
Uninsurable because of the possibility of either loss or gain in the risk
Speculative Risk
The depreciation from the total Replacement Cost due to age, use and condition. The resulting dollar
amount is Actual Cash Value
Non-recoverable Depreciation
626.854 (3)
The insurer and insured agree to a specific value of insured item
Agreed Value Policies
Someone who has care, custody or control of another's property
Bailee
Claim filed by policy holder against his _
First Party Claim
When a person who entrusts another with an object and it results in injury to someone can be held
liable for the injury to someone. Can be held liable for the injury i.e. Firearm or DWI
Negligent Entrustment
2|Page
, Hazard that results from a conscious decision made by an insured to participate in a manner or behavior
more likely to result in a loss because they have insurance
Moral Hazard
Used to provide temporary insurance coverage until an insurance policy can be written
Binder
Required by lenders to guarantee that outstanding loans against a job are paid upon completion
Completion Bonds
The section of an insurance policy identifying the insured, endorsements, coverages, limits, and
premiums
Declarations
Policyholder cannot transfer the policy to someone else without written permission from their insurance
company
Assignment
An instance, behavior or environment that increases the likelihood of a loss on an insured item
Hazard
Actual cause or source of an incidence of destruction, injury, or loss
Peril
An insurance company organized and domiciled outside the US
Alien
When there is an unbroken chain of events between an occurrence and a loss, then the loss is part of
the original occurrence
Proximate Cause
Is proximate cause of all subsequent damages
Original Occurance
An individual who contracts with an adjusting firm as an independent contractor and handles claims for
the insurance companies
Independent Adjuster
Action or practice of the insured party is permitted to continue because any defense against a
continuation of said action or practice has been waived by the insurer
Estoppel
Operate for profit, collect premiums, reserve a portion of premiums to pay claims
3|Page
