Florida Adjuster Licensing Practice Exam updated 2024 with Verified Solutions
A claim in the property/casualty industry Is defined as: - Ans: an assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damages when you purchase insurance, you are buying: - Ans: peace of mind that if an insured event does occur, that the insurance company will keep its promise and provide the financial protection that you purchased in today's society, the most important factor in the purchase of insurance is: - Ans: trust One of the most important claim handling goals of an insurance company is: - Ans: to help those who have been injured or who have suffered loss for which the insured is responsible, while at the same time minimizing loss for the insured party and carrier what is the primary difference between a company employee adjuster and an independent adjuster - Ans: a company employee adjuster works for an insurance company and an independent adjuster works independently for themselves or for adjusting firms who represent many clients Assume that 5 years ago a couple insured their home for its then appraised value of $60,000. 2 weeks ago they had a stove fire resulting in an estimated loss of $15,000. The adjuster finds that the value of their home is now $100,000 but the home is still only insured for $60K and there is a deductible of $500. The policy has an 80% coinsurance clause. How much should the adjuster pay to the couple? - Ans: ($15,000-$500)($60,000/$100,000(.80))= $10,875 describe the coverage's provided in a split limit policy of 10/20/10 - Ans: the coverage provides up to $10,000 of liability protection for bodily injury to any one individual, an aggregate of $20,000 for all bodily injuries regardless of how many individuals, and $10,000 for property damage negligence is described as - Ans: fault that arises from doing something you shouldn't have done, or not doing something you should have done what are examples of "compensatory damages"? - Ans: tangible, documentable financial losses such as medical expenses and lost wages (special damages) intangible losses such as pain and suffering, mental anguish, permanent injury and disfigurement (general damages) What are the defenses to a claim of negligence - Ans: no negligence, contributory negligence, comparative negligence and assumption of risk what are the laws that affects one's legal liability - Ans: Statutes of Limitations, Wrongful Death Act, Workers comp. and Auto No Fault, Waiver of Sovereign Immunity and Breach of Product Warranty
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- 24 oktober 2024
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