ACA Final Exam questions and answers well elaborated
x x x x x x x x
graded A LATEST UPDATE x x x
Atxthexendxofxthisxcourse,xyouxmustxdoxwhichxofxthexfollowing?
Passxthexfinalxcoursexexamxwithxaxscoredxofx70%xorxhigher
Printxyourxcertificatexfromxthisxwebsite
ApplyxforxyourxInsurancexAdjusterxlicensexatxthexFloridaxDepartmentxofxFinancialxServicesx
websitexatxwww.myfloridacfo.com/division/agents
Allxofxthexabovex–xanswerxallxofxthexabove
WhichxofxthexfollowingxisxNOTxonexofxthexdutiesxofxthexDepartmentxofxFinancialxServices?
Licensexadjusters
Setxratesxandxwritexpoliciesxforxvariousxcompanyxproducts
Supervisexthexclaimsxactivityxofxadjusters
Investigatexchargesxofxunethicalxconductxofxadjustersx-
xanswerxsetxratesxandxwritexpoliciesxforxvariousxcompanyxproducts
Whenxanxinsurancexlicenseexmoves,xhexhasxhowxlongxtoxnotifyxthexFloridaxDept.xOfxFinanci
alxServicesxofxhisxchangexofxaddress?
10xDays
30xDays
60xDays
180xDaysx-xanswer30
AnxInsurancexPolicyxisxaxcontractxwithxallxofxthexfollowingxcharacteristics,xEXCEPT
Itxisxaxpersonalxcontract.
Partiesxarexofxunequalxpowerxwithxambiguitiesxorxunclearxwordingxresolvedxinxfavorxofxthexi
nsuredxbecausexitxisxaxcontractxofxadhesion.
Indemnityxisxnotxpartxofxanxinsurancexcontract.
Therexarexconditionsximposedxuponxbothxthexinsurerxandxinsured.x-
xanswerxindemnityxisxnotxpartxofxanxinsurancexcontract.
, Anxinsurancexcontractxmayxcontainxax"grayxarea"xorxanxambiguity,xthatxisxgenerallyxresolve
dxinxfavorxofxthexinsuredxbecausexinsurancexpoliciesxarexcontractsxof:
Indemnity
Cohesion
Adhesion
Conditionsx-xanswerxadhesion
StrictxorxAbsolutexLiability
Appliesxtoxschoolxsystems.
Mustxhavexfailurextoxusex"duexcare.
"considersxthexactionsxofxaxprudentxperson.
Isxassignedxbyxlawxorxstatute.x-xanswerxisxassignedxbyxlawxorxstatute.
Risksxthatxarexinsurablexare:
Speculativexrisk
Purexrisk
BothxAx&xB
Nonexofxthexabovex-xanswerxpurexRisk
Thexgoalxofxinsurancexisxtoxrestorexthexinsuredxtoxthexsamexeconomicxpositionxasxbeforexth
excoveredxlossxoccurred,xthisxisxthexprinciplexof:
Adhesion
ActualxCashxValue
Indemnity
Severabilityx-xanswerxindemnity
Firemenxcausedxwaterxdamagextoxaxpropertyxbyxsprayingxwaterxtoxputxoutxaxfire.xIfxthexprop
ertyxinsurancexpolicyxlistedx"fire"xasxthexonlyxnamedxperil:
Thexwaterxdamagexisxnotxaxcoveredxperil.
Thexfirexdept.xHasxliabilityxforxthexwaterxdamage.
Thexwaterxdamagexisxcoveredxduextoxthexconceptxofxproximatexcause.
ThexFirexdamagexisxcoveredxbutxnotxthexwaterxdamagexduextoxproximatexcause.x-
xanswerxthexwaterxdamagexisxcoveredxduextoxthexconceptxofxproximatexcause.
x x x x x x x x
graded A LATEST UPDATE x x x
Atxthexendxofxthisxcourse,xyouxmustxdoxwhichxofxthexfollowing?
Passxthexfinalxcoursexexamxwithxaxscoredxofx70%xorxhigher
Printxyourxcertificatexfromxthisxwebsite
ApplyxforxyourxInsurancexAdjusterxlicensexatxthexFloridaxDepartmentxofxFinancialxServicesx
websitexatxwww.myfloridacfo.com/division/agents
Allxofxthexabovex–xanswerxallxofxthexabove
WhichxofxthexfollowingxisxNOTxonexofxthexdutiesxofxthexDepartmentxofxFinancialxServices?
Licensexadjusters
Setxratesxandxwritexpoliciesxforxvariousxcompanyxproducts
Supervisexthexclaimsxactivityxofxadjusters
Investigatexchargesxofxunethicalxconductxofxadjustersx-
xanswerxsetxratesxandxwritexpoliciesxforxvariousxcompanyxproducts
Whenxanxinsurancexlicenseexmoves,xhexhasxhowxlongxtoxnotifyxthexFloridaxDept.xOfxFinanci
alxServicesxofxhisxchangexofxaddress?
10xDays
30xDays
60xDays
180xDaysx-xanswer30
AnxInsurancexPolicyxisxaxcontractxwithxallxofxthexfollowingxcharacteristics,xEXCEPT
Itxisxaxpersonalxcontract.
Partiesxarexofxunequalxpowerxwithxambiguitiesxorxunclearxwordingxresolvedxinxfavorxofxthexi
nsuredxbecausexitxisxaxcontractxofxadhesion.
Indemnityxisxnotxpartxofxanxinsurancexcontract.
Therexarexconditionsximposedxuponxbothxthexinsurerxandxinsured.x-
xanswerxindemnityxisxnotxpartxofxanxinsurancexcontract.
, Anxinsurancexcontractxmayxcontainxax"grayxarea"xorxanxambiguity,xthatxisxgenerallyxresolve
dxinxfavorxofxthexinsuredxbecausexinsurancexpoliciesxarexcontractsxof:
Indemnity
Cohesion
Adhesion
Conditionsx-xanswerxadhesion
StrictxorxAbsolutexLiability
Appliesxtoxschoolxsystems.
Mustxhavexfailurextoxusex"duexcare.
"considersxthexactionsxofxaxprudentxperson.
Isxassignedxbyxlawxorxstatute.x-xanswerxisxassignedxbyxlawxorxstatute.
Risksxthatxarexinsurablexare:
Speculativexrisk
Purexrisk
BothxAx&xB
Nonexofxthexabovex-xanswerxpurexRisk
Thexgoalxofxinsurancexisxtoxrestorexthexinsuredxtoxthexsamexeconomicxpositionxasxbeforexth
excoveredxlossxoccurred,xthisxisxthexprinciplexof:
Adhesion
ActualxCashxValue
Indemnity
Severabilityx-xanswerxindemnity
Firemenxcausedxwaterxdamagextoxaxpropertyxbyxsprayingxwaterxtoxputxoutxaxfire.xIfxthexprop
ertyxinsurancexpolicyxlistedx"fire"xasxthexonlyxnamedxperil:
Thexwaterxdamagexisxnotxaxcoveredxperil.
Thexfirexdept.xHasxliabilityxforxthexwaterxdamage.
Thexwaterxdamagexisxcoveredxduextoxthexconceptxofxproximatexcause.
ThexFirexdamagexisxcoveredxbutxnotxthexwaterxdamagexduextoxproximatexcause.x-
xanswerxthexwaterxdamagexisxcoveredxduextoxthexconceptxofxproximatexcause.
