ACA Final Exam Practice Questions and Answers

ACA Final Exam Practice Questions and Answers At the end of this course, you must do which of the following? Pass the final course exam with a scored of 70% or higher Print your certificate from this website Apply for your Insurance Adjuster license at the Florida Department of Financial Services website at All of the above - Ans:-All of the above Which of the following is NOT one of the duties of the Department of Financial Services? License adjusters ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 2/24 Set rates and write policies for various company products Supervise the claims activity of adjusters Investigate charges of unethical conduct of adjusters - Ans:-Set rates and write policies for various company products When an insurance licensee moves, he has how long to notify the Florida Dept. of Financial Services of his change of address? 10 Days 30 Days 60 Days 180 Days - Ans:-30 An Insurance Policy is a contract with all of the following characteristics, EXCEPT It is a personal contract. ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 3/24 Parties are of unequal power with ambiguities or unclear wording resolved in favor of the insured because it is a contract of adhesion. Indemnity is not part of an insurance contract. There are conditions imposed upon both the insurer and insured. - Ans:-Indemnity is not part of an insurance contract. An insurance contract may contain a "gray area" or an ambiguity, that is generally resolved in favor of the insured because insurance policies are contracts of: Indemnity Cohesion Adhesion Conditions - Ans:-adhesion Strict or Absolute Liability applies to school systems. ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 4/24 must have failure to use "due care. "considers the actions of a prudent person. is assigned by law or statute. - Ans:-is assigned by law or statute. Risks that are insurable are: Speculative risk Pure risk Both A & B