©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
Certified Claims Adjuster- Florida Exam Practice
Questions and Answers
Repair, replacement and recovery of injured lives and damaged property falls to? - Ans:✔✔-Insurance
Adjusters, CAT Troopers, Field Investigators, Property Appraisers and Front Line Supervisors
Insurance Transaction includes: - Ans:✔✔--Solicitation of insurance
-Negotiations;
-Binding, underwriting and sale of insurance;
-Handling or "adjusting" of claims
The Role of Insurance is: - Ans:✔✔-- Essential Product
-Financial Product
- Purchase of a Promise
-Purchase based on TRUST
The different types of insurance are: - Ans:✔✔--Health
-Life
Page 1/24
, ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
-Property
-Casualty
When you buy insurance, you are buying: - Ans:✔✔-Peace of Mind
Insurance is a Purchase based on: - Ans:✔✔-Trust
The most important factor in the purchase of insurance is: - Ans:✔✔-Trust
An assertion of an alleged legal right against a person, entity, company or insurer that carries with it a
demand for relief is: - Ans:✔✔-Claim
Is the same as a request, demand, a letter requesting action, a bill submitted for payment: - Ans:✔✔-
Assertion
Means that the claim may or may not be valid or legitimate, or that there may not be any legal right for
belief: - Ans:✔✔-Alleged
Relief: - Ans:✔✔-Compensation or payment. Can also mean:
-restitution
-return
-recovery
Page 2/24
, ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
-replacement
Takes form in property or money
Third Party Claim: - Ans:✔✔-A claim made by a third party against an "insured" person or entity
First Party Claim: - Ans:✔✔-A claim made by a policy holder against his/her own insurance company for
recovery under the policy (contract) for which a premium has been paid
Carrier's Claim Handling Goal #1: - Ans:✔✔-To help those who have been injured or who have suffered
loss for which the insured is responsible or which is covered by the insurance contract
Carrier's Claim Handling Goal #2: - Ans:✔✔-To minimize loss for the insured party and the carrier. To
fairly evaluate the legitimacy and legality of a claim and its value and resolve satisfactory
Carrier's Claim Handling Goal #3: - Ans:✔✔--To comply with the requirements of the law or terms of the
insurance contract
-To pay claims fairly and adequately
Carrier's Claim Handling Goal #4: - Ans:✔✔-To maintain friendly and satisfactory relations between the
injured party, the employer or policy holder, the insurance company an the public
Carrier's Claim Handling Goal #5: - Ans:✔✔-To satisfy the company's moral and ethical obligation to the
public and conduct business (claims) in a friendly, helpful manner
Page 3/24
FIRST PUBLISH OCTOBER 2024
Certified Claims Adjuster- Florida Exam Practice
Questions and Answers
Repair, replacement and recovery of injured lives and damaged property falls to? - Ans:✔✔-Insurance
Adjusters, CAT Troopers, Field Investigators, Property Appraisers and Front Line Supervisors
Insurance Transaction includes: - Ans:✔✔--Solicitation of insurance
-Negotiations;
-Binding, underwriting and sale of insurance;
-Handling or "adjusting" of claims
The Role of Insurance is: - Ans:✔✔-- Essential Product
-Financial Product
- Purchase of a Promise
-Purchase based on TRUST
The different types of insurance are: - Ans:✔✔--Health
-Life
Page 1/24
, ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
-Property
-Casualty
When you buy insurance, you are buying: - Ans:✔✔-Peace of Mind
Insurance is a Purchase based on: - Ans:✔✔-Trust
The most important factor in the purchase of insurance is: - Ans:✔✔-Trust
An assertion of an alleged legal right against a person, entity, company or insurer that carries with it a
demand for relief is: - Ans:✔✔-Claim
Is the same as a request, demand, a letter requesting action, a bill submitted for payment: - Ans:✔✔-
Assertion
Means that the claim may or may not be valid or legitimate, or that there may not be any legal right for
belief: - Ans:✔✔-Alleged
Relief: - Ans:✔✔-Compensation or payment. Can also mean:
-restitution
-return
-recovery
Page 2/24
, ©GRACEAMELIA 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED
FIRST PUBLISH OCTOBER 2024
-replacement
Takes form in property or money
Third Party Claim: - Ans:✔✔-A claim made by a third party against an "insured" person or entity
First Party Claim: - Ans:✔✔-A claim made by a policy holder against his/her own insurance company for
recovery under the policy (contract) for which a premium has been paid
Carrier's Claim Handling Goal #1: - Ans:✔✔-To help those who have been injured or who have suffered
loss for which the insured is responsible or which is covered by the insurance contract
Carrier's Claim Handling Goal #2: - Ans:✔✔-To minimize loss for the insured party and the carrier. To
fairly evaluate the legitimacy and legality of a claim and its value and resolve satisfactory
Carrier's Claim Handling Goal #3: - Ans:✔✔--To comply with the requirements of the law or terms of the
insurance contract
-To pay claims fairly and adequately
Carrier's Claim Handling Goal #4: - Ans:✔✔-To maintain friendly and satisfactory relations between the
injured party, the employer or policy holder, the insurance company an the public
Carrier's Claim Handling Goal #5: - Ans:✔✔-To satisfy the company's moral and ethical obligation to the
public and conduct business (claims) in a friendly, helpful manner
Page 3/24
