Florida Claims Adjuster Exam With
questions And Answers Graded A
Severability - correct answerInsurance applies separately to each insured as if other
insureds did not exist.
Abandonment - correct answerProperty insurance policies usually contain a(n)
__________ clause, *stating the insured cannot dump damaged property on the insurer
and demand its full value.*
Insurable Interest - correct answerOne wherein economic loss would be suffered from
an adverse happening to the subject.
Liberalization - correct answerStates that if the insurer adopts a revision which would
broaden coverage without additional premium within some period of time prior to the
policy period or during the policy period, the insured receives the benefit of such
broadened coverage..
Doctrine of Proximate Cause - correct answerStates that when there is an unbroken
connection between an occurrence and damage that grows out of the occurrence, then
the resultant damage is all a part of the occurrence.
Actual Cash Value - correct answerThe Loss Settlement Valuation that subtracts an
allowance for depreciation
Warranty - correct answerA policy condition, either based on information in the insured's
application or inserted by the insurer
Conditional Contract - correct answerThe Insurer's responsibility to pay for a property
loss may be conditioned on the insured having used reasonable means to avoid the
loss, to protect the property against further loss, and to give the insurer proof of the loss
is defined as?
Under Mechanical Breakdown Coverage, *new cars are eligible for service up to:* -
correct answer36 Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
If financial responsibility doesn't exist at the time of an accident, what happens? -
correct answerThe legally valid claims of others must be satisfied (10/20/10)
The owner and operator must provide certification of future responsibility for future
accidents
As to required proof for future accidents by purchase of auto liability insurance, the
insurer must make a filing (Form SR-22) certifying that coverage is in effect, and this
certification must remain on file for __________ years - correct answer3
,Florida Claims Adjuster Exam With
questions And Answers Graded A
The Business Automobile Policy includes all of the following coverage forms except: -
correct answerThe Trailer Interchange Coverage Form
Personal Injury Protection, or PIP, has a __________ per person, per accident limit. -
correct answer10,000
Used to insure businesses engaged in selling, servicing, repairing, parking or storing
automobiles: - correct answerGarage Coverage Form
The following examples are referred to as __________ liability limits: 25/50/25 or
10/20/10. - correct answerSplit
10/20/10 =
10,000 per person injured
20,000 all injuries combined
10,000 property damage
Example of straight liability limit = $30,000
Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible, how much
can he expect his PIP coverage to pay toward his medical bills that total $3,000? -
correct answer$1,600
3000 (bills) - 1000 (deductible) =
2000 x .80 (eighty percent)
Frank has a not-at-fault accident, he has basic PIP, no deductible and Med pay of
$5,000. How much will his Med Pay contribute to medical bills of $15,000? - correct
answer$5,000
Medical Payment limits apply per person; Frank will receive full amount towards medical
bills.
Which of the following is not one of the rating factors for a Homeowner's Policy? -
correct answerAge & Gender of Insured
On a Homeowner's Policy, covers items that are not permanently attached to the
dwelling. This is defined as: - correct answerOther Structures
Examples include sheds, fences, pool houses, detached car ports, etc.
A lender has an insurable interest in a home and finds protection in the: - correct
answerMortgagee Clause
, Florida Claims Adjuster Exam With
questions And Answers Graded A
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy
Which of the following forms is "all-risk" on the dwelling policy? - correct answerDP-3, or
the Special Form
When the basic liability limits provided by the policy are insufficient for an insureds
needs, two coverage forms are used to provide the additional amounts of coverage:
A. Excess Liability
B. Umbrella
C. Both A & B
D. None of the Above - correct answerBoth A & B
Which of the following is not covered under Coverage C, Personal Property?
A. A fire breaks out in the residence and an overnight guest loses his clothes in the fire
B. A fish dies because he has been left alone for a week without food
C. The insureds daughters tennis racket is stolen from her locker
D. The insureds suitcase and clothing, valued at $1,500, are stolen from his hotel -
correct answerB. A fish dies because he has been left alone for a week without food
Animals are listed as an "exclusion" under a Homeowner's policy.
All of the following are eligible for a Homeowner's Policy, except?
A. An apartment tenant
B. A condominium owner
C. Four-family dwelling owner-occupant
D. A business condo owned by a local insurance company - correct answerD. A
business condo owned by a local insurance company
Commercial property is not eligible for a Homeowner's policy.
Which of the following are characteristics of Homeowner's Insurance?
A. Protects against economic loss to residences and household property and legal
liabilities
B. Owner-occupants of 1-4 family dwellings
C. Renters who maintain residential occupancy in any type of building
D. All of the Above - correct answerD. All of the Above
Also included: personal, non-business risk, no more than 2 roomers/boarders,
condominium unit owners and cooperative apartment occupants
questions And Answers Graded A
Severability - correct answerInsurance applies separately to each insured as if other
insureds did not exist.
Abandonment - correct answerProperty insurance policies usually contain a(n)
__________ clause, *stating the insured cannot dump damaged property on the insurer
and demand its full value.*
Insurable Interest - correct answerOne wherein economic loss would be suffered from
an adverse happening to the subject.
Liberalization - correct answerStates that if the insurer adopts a revision which would
broaden coverage without additional premium within some period of time prior to the
policy period or during the policy period, the insured receives the benefit of such
broadened coverage..
Doctrine of Proximate Cause - correct answerStates that when there is an unbroken
connection between an occurrence and damage that grows out of the occurrence, then
the resultant damage is all a part of the occurrence.
Actual Cash Value - correct answerThe Loss Settlement Valuation that subtracts an
allowance for depreciation
Warranty - correct answerA policy condition, either based on information in the insured's
application or inserted by the insurer
Conditional Contract - correct answerThe Insurer's responsibility to pay for a property
loss may be conditioned on the insured having used reasonable means to avoid the
loss, to protect the property against further loss, and to give the insurer proof of the loss
is defined as?
Under Mechanical Breakdown Coverage, *new cars are eligible for service up to:* -
correct answer36 Months/36,000 Miles
Used vehicles: 12 Months/12,000 Miles
If financial responsibility doesn't exist at the time of an accident, what happens? -
correct answerThe legally valid claims of others must be satisfied (10/20/10)
The owner and operator must provide certification of future responsibility for future
accidents
As to required proof for future accidents by purchase of auto liability insurance, the
insurer must make a filing (Form SR-22) certifying that coverage is in effect, and this
certification must remain on file for __________ years - correct answer3
,Florida Claims Adjuster Exam With
questions And Answers Graded A
The Business Automobile Policy includes all of the following coverage forms except: -
correct answerThe Trailer Interchange Coverage Form
Personal Injury Protection, or PIP, has a __________ per person, per accident limit. -
correct answer10,000
Used to insure businesses engaged in selling, servicing, repairing, parking or storing
automobiles: - correct answerGarage Coverage Form
The following examples are referred to as __________ liability limits: 25/50/25 or
10/20/10. - correct answerSplit
10/20/10 =
10,000 per person injured
20,000 all injuries combined
10,000 property damage
Example of straight liability limit = $30,000
Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible, how much
can he expect his PIP coverage to pay toward his medical bills that total $3,000? -
correct answer$1,600
3000 (bills) - 1000 (deductible) =
2000 x .80 (eighty percent)
Frank has a not-at-fault accident, he has basic PIP, no deductible and Med pay of
$5,000. How much will his Med Pay contribute to medical bills of $15,000? - correct
answer$5,000
Medical Payment limits apply per person; Frank will receive full amount towards medical
bills.
Which of the following is not one of the rating factors for a Homeowner's Policy? -
correct answerAge & Gender of Insured
On a Homeowner's Policy, covers items that are not permanently attached to the
dwelling. This is defined as: - correct answerOther Structures
Examples include sheds, fences, pool houses, detached car ports, etc.
A lender has an insurable interest in a home and finds protection in the: - correct
answerMortgagee Clause
, Florida Claims Adjuster Exam With
questions And Answers Graded A
Mortgagee - Homeowner's policy
Loss Payee - Automobile policy
Which of the following forms is "all-risk" on the dwelling policy? - correct answerDP-3, or
the Special Form
When the basic liability limits provided by the policy are insufficient for an insureds
needs, two coverage forms are used to provide the additional amounts of coverage:
A. Excess Liability
B. Umbrella
C. Both A & B
D. None of the Above - correct answerBoth A & B
Which of the following is not covered under Coverage C, Personal Property?
A. A fire breaks out in the residence and an overnight guest loses his clothes in the fire
B. A fish dies because he has been left alone for a week without food
C. The insureds daughters tennis racket is stolen from her locker
D. The insureds suitcase and clothing, valued at $1,500, are stolen from his hotel -
correct answerB. A fish dies because he has been left alone for a week without food
Animals are listed as an "exclusion" under a Homeowner's policy.
All of the following are eligible for a Homeowner's Policy, except?
A. An apartment tenant
B. A condominium owner
C. Four-family dwelling owner-occupant
D. A business condo owned by a local insurance company - correct answerD. A
business condo owned by a local insurance company
Commercial property is not eligible for a Homeowner's policy.
Which of the following are characteristics of Homeowner's Insurance?
A. Protects against economic loss to residences and household property and legal
liabilities
B. Owner-occupants of 1-4 family dwellings
C. Renters who maintain residential occupancy in any type of building
D. All of the Above - correct answerD. All of the Above
Also included: personal, non-business risk, no more than 2 roomers/boarders,
condominium unit owners and cooperative apartment occupants
