FLORIDA 3-20 PUBLIC ADJUSTERS STATE
LICENSE EXAM (SET 1) FINAL EXAM
NEWEST ACTUAL EXAM WITH COMPLETE
QUESTIONS AND DETAILED ANSWERS
GRADED A | BRAND NEW!!!
A legal two-party document describing the relationship
between the insured and the insurance company - ✔✔✔
Correct Answer > Indemnity Contract
Legal document that makes some person responsible for
damages their actions or products cause regardless of any fault
on their part - ✔✔✔ Correct Answer > Strict Liabilty
The intention to withhold relative information about the risk
from the insurance company - ✔✔✔ Correct Answer >
Concealment
A subset of the claims function whereby suspicious losses are
investigated separately from the normal claims adjusters'
activities - ✔✔✔ Correct Answer > Special Investigations Unit
,An insurer takes no action upon realizing material changes in a
contract - ✔✔✔ Correct Answer > Implied Waiver
Acts committed without negligence but result in damages -
✔✔✔ Correct Answer > Intentional Tort
Willful and illegal sinking of a ship at sea or its cargo - ✔✔✔
Correct Answer > barratry
Covers physical damage as well as liability and tends to be very
broad in coverage - ✔✔✔ Correct Answer > Commercial Inland
Marine
Single insurance for only one kind of property at only one
location of an insured - ✔✔✔ Correct Answer > Specific
Coverage
Legislative Acts or Laws - ✔✔✔ Correct Answer > Statutes
The insurance company to which the risk is transferred to by
the contract - ✔✔✔ Correct Answer > Second Party
, Hazards on private property that might attract trespassing such
as swimming pools or trampolines - ✔✔✔ Correct Answer >
Attractive Nuisance
An approximate calculation of amount, extent, quality,
magnitude, position, degree or worth of something - ✔✔✔
Correct Answer > Estimages
Insurance company assesses, mitigates, and monitors the items
of risk that potential customers want to insure - ✔✔✔ Correct
Answer > Risk management
Granting the privileges and licensing in a state based on having
a license in another state that is deemed equivalent by the
granting state - ✔✔✔ Correct Answer > Reciprocity
Specific protection in an insurance policy - ✔✔✔ Correct
Answer > Coverage
An individual holding a license under the authority of the State -
✔✔✔ Correct Answer > Licensee
LICENSE EXAM (SET 1) FINAL EXAM
NEWEST ACTUAL EXAM WITH COMPLETE
QUESTIONS AND DETAILED ANSWERS
GRADED A | BRAND NEW!!!
A legal two-party document describing the relationship
between the insured and the insurance company - ✔✔✔
Correct Answer > Indemnity Contract
Legal document that makes some person responsible for
damages their actions or products cause regardless of any fault
on their part - ✔✔✔ Correct Answer > Strict Liabilty
The intention to withhold relative information about the risk
from the insurance company - ✔✔✔ Correct Answer >
Concealment
A subset of the claims function whereby suspicious losses are
investigated separately from the normal claims adjusters'
activities - ✔✔✔ Correct Answer > Special Investigations Unit
,An insurer takes no action upon realizing material changes in a
contract - ✔✔✔ Correct Answer > Implied Waiver
Acts committed without negligence but result in damages -
✔✔✔ Correct Answer > Intentional Tort
Willful and illegal sinking of a ship at sea or its cargo - ✔✔✔
Correct Answer > barratry
Covers physical damage as well as liability and tends to be very
broad in coverage - ✔✔✔ Correct Answer > Commercial Inland
Marine
Single insurance for only one kind of property at only one
location of an insured - ✔✔✔ Correct Answer > Specific
Coverage
Legislative Acts or Laws - ✔✔✔ Correct Answer > Statutes
The insurance company to which the risk is transferred to by
the contract - ✔✔✔ Correct Answer > Second Party
, Hazards on private property that might attract trespassing such
as swimming pools or trampolines - ✔✔✔ Correct Answer >
Attractive Nuisance
An approximate calculation of amount, extent, quality,
magnitude, position, degree or worth of something - ✔✔✔
Correct Answer > Estimages
Insurance company assesses, mitigates, and monitors the items
of risk that potential customers want to insure - ✔✔✔ Correct
Answer > Risk management
Granting the privileges and licensing in a state based on having
a license in another state that is deemed equivalent by the
granting state - ✔✔✔ Correct Answer > Reciprocity
Specific protection in an insurance policy - ✔✔✔ Correct
Answer > Coverage
An individual holding a license under the authority of the State -
✔✔✔ Correct Answer > Licensee
