FLORIDA PUBLIC ADJUSTING 3-20, FLORIDA 3-20 PUBLIC
ADJUSTER EXAM OUTLINES, FLORIDA 3-20 PUBLIC ADJUSTERS
STATE EXAM (ALL THREE IN ONE) ACTUAL EXAM 400
QUESTIONS AND CORRECT DETAILED ANSWERS |AGRADE
COMPLETE DOCUMENT FOR STUDY & EXAM PREPARATION
The section of an insurance policy identifies the general requirements
of an insured and the insurer on matters such as loss reporting and
settlement, property valuation, other insurance, subrogation rights,
and cancellation and non-renewal.
Answers: The act of assessing (giving an expert estimate of) the value of
property
Assessed Value
Answers: The estimated monetary worth of a property (both real and
personal) established by a taxing entity
Surcharge
Answers: Valuation of Mobile/Manufactured Homes
If the manufactured home's homeowners' policy has a value on it, and
you're in a valued policy state, the insurance company will pay up to
the limit listed on the policy if the home is deemed a total loss.
Some manufactured home policies will have a provision that allows for
homes less than a certain age (10 years for example) to be valued at
replacement cost. This has been done in part because some companies
recognize that construction methods have changed over the years and
that the home is newer. It's kind of like getting new car replacement on
your auto policy, but only for late models.
,DP-1 Basic Form
Answers: Perils insured against are fire, lightning, and internal
explosion.
DP-2 Broad Form
Answers: This dwelling coverage form covers perils included under the
DP-1 with ECE and optional VMM endorsement attached,
plus: burglars; falling objects; weight of snow, ice, sleet; accidental
discharge or overflow of water or steam; sudden and accidental tearing
apart, cracking, burning or bulging of a steam or hot water heating
system, or an air conditioning or automatic fire protective sprinkler
system, or an appliance for heating water; freezing of a plumbing,
heating, air conditioning, or automatic fire protective sprinkler system,
or of a household appliance; and sudden and accidental damage from
artificially generated electrical current.
Answers: DP-3 Special Form
covers the dwelling and other structures on an open perils basis, except
for the perils specifically excluded.
Answers: Basic Form
covers these 11 "perils" or causes of loss: Fire or Lightning, Smoke,
Windstorm or Hail, Explosion, Riot or Civil Commotion, Aircraft (striking
the property), Vehicles (striking the property), Glass Breakage,
Vandalism & Malicious Mischief, Theft, and Volcanic Eruption.
Answers: Broad Form
covers the same 11 perils, but adds 6 more: Falling objects, Weight of
ice, snow or sleet, accidental discharge or overflow of water or stream
from within plumbing or related systems; does not include discharge or
, overflow of water from a sump, sudden and accidental rupture of
heating, air conditioning, fire protective sprinkler, or hot water heating
system. Freezing of plumbing or related systems. And Sudden and
accidental damage from artificially generated electrical current.
Answers: Special Form
does not specifically list perils, rather it is "all risk" coverage unless
otherwise specifically excluded.
Answers: HO-2 Policy
How long does a residential property policy have to be in effect to hold
the insured immune to 627.409(fraud by insured)
Answers: 90 Days
6 Responsibilities of the Public Adjuster
Answers: 1.Evaluate
2.Substantiate
3.Determine values
4.Negotiate
5.Recommend(upgraded insurance)
6. Re-Open Claims
626.8796
Public Adjuster Fraud Statement
How long must a Public Adjuster wait after an event that leads to a
claim to contact the claimant?
Answers: 48 hours. (626.854(13))
What must Public Adjuster Contracts Contain regarding fraud by
insured
ADJUSTER EXAM OUTLINES, FLORIDA 3-20 PUBLIC ADJUSTERS
STATE EXAM (ALL THREE IN ONE) ACTUAL EXAM 400
QUESTIONS AND CORRECT DETAILED ANSWERS |AGRADE
COMPLETE DOCUMENT FOR STUDY & EXAM PREPARATION
The section of an insurance policy identifies the general requirements
of an insured and the insurer on matters such as loss reporting and
settlement, property valuation, other insurance, subrogation rights,
and cancellation and non-renewal.
Answers: The act of assessing (giving an expert estimate of) the value of
property
Assessed Value
Answers: The estimated monetary worth of a property (both real and
personal) established by a taxing entity
Surcharge
Answers: Valuation of Mobile/Manufactured Homes
If the manufactured home's homeowners' policy has a value on it, and
you're in a valued policy state, the insurance company will pay up to
the limit listed on the policy if the home is deemed a total loss.
Some manufactured home policies will have a provision that allows for
homes less than a certain age (10 years for example) to be valued at
replacement cost. This has been done in part because some companies
recognize that construction methods have changed over the years and
that the home is newer. It's kind of like getting new car replacement on
your auto policy, but only for late models.
,DP-1 Basic Form
Answers: Perils insured against are fire, lightning, and internal
explosion.
DP-2 Broad Form
Answers: This dwelling coverage form covers perils included under the
DP-1 with ECE and optional VMM endorsement attached,
plus: burglars; falling objects; weight of snow, ice, sleet; accidental
discharge or overflow of water or steam; sudden and accidental tearing
apart, cracking, burning or bulging of a steam or hot water heating
system, or an air conditioning or automatic fire protective sprinkler
system, or an appliance for heating water; freezing of a plumbing,
heating, air conditioning, or automatic fire protective sprinkler system,
or of a household appliance; and sudden and accidental damage from
artificially generated electrical current.
Answers: DP-3 Special Form
covers the dwelling and other structures on an open perils basis, except
for the perils specifically excluded.
Answers: Basic Form
covers these 11 "perils" or causes of loss: Fire or Lightning, Smoke,
Windstorm or Hail, Explosion, Riot or Civil Commotion, Aircraft (striking
the property), Vehicles (striking the property), Glass Breakage,
Vandalism & Malicious Mischief, Theft, and Volcanic Eruption.
Answers: Broad Form
covers the same 11 perils, but adds 6 more: Falling objects, Weight of
ice, snow or sleet, accidental discharge or overflow of water or stream
from within plumbing or related systems; does not include discharge or
, overflow of water from a sump, sudden and accidental rupture of
heating, air conditioning, fire protective sprinkler, or hot water heating
system. Freezing of plumbing or related systems. And Sudden and
accidental damage from artificially generated electrical current.
Answers: Special Form
does not specifically list perils, rather it is "all risk" coverage unless
otherwise specifically excluded.
Answers: HO-2 Policy
How long does a residential property policy have to be in effect to hold
the insured immune to 627.409(fraud by insured)
Answers: 90 Days
6 Responsibilities of the Public Adjuster
Answers: 1.Evaluate
2.Substantiate
3.Determine values
4.Negotiate
5.Recommend(upgraded insurance)
6. Re-Open Claims
626.8796
Public Adjuster Fraud Statement
How long must a Public Adjuster wait after an event that leads to a
claim to contact the claimant?
Answers: 48 hours. (626.854(13))
What must Public Adjuster Contracts Contain regarding fraud by
insured
