Page | 1
FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL
LINES ADJUSTER- FLORIDA- REVIEW EXAM
2025| BRAND NEW ACTUAL EXAM WITH 100%
VERIFIED QUESTIONS AND CORRECT
SOLUTIONS| GUARANTEED VALUE PACK| ACE
YOUR GRADES.
1. Peril - correct answer - Something that causes a loss.
2. Hazard - correct answer - Something that increases the
probability that a loss will occur.
3. Warranty - correct answer - A policy condition, either based on
information in the insureds application or inserted by the
insurer. It is a guarantee of a fact.
4. Misrepresentation - correct answer - An untrue statement by
the insured, made in an application for insurance but which
does not become a part of the policy.
, Page | 2
5. Concealment - correct answer - The failure of the insured to
reveal relevant facts known to the insured in applying for
insurance.
6. Abandonment - correct answer - Property insurance policies
usually contain an abandonment clause, stating the insured
cannot dump damaged property on the insurer and demand its
full value.
7. Severability - correct answer - The insurance applies
separately to each insured as if other insureds did not exist.
8. Proximate Cause - correct answer - The cause having the most
significant impact in bringing about the loss under a first-party
property insurance policy, when two or more independent perils
operate at the same time (i.e., concurrently) to produce a loss.
Courts employ a set of rules to resolve causation disputes
when a property policy states that it covers or excludes losses
"caused by" a peril and there is more than one peril at work in a
fact pattern. Under common law, whether the policy provides
coverage depends on which peril is chosen as the proximate
cause.
, Page | 3
9. Direct Loss - correct answer - Physical harm to tangible
property.
10. Indirect Loss - correct answer - Economic loss which flows
as a result of direct loss.
11. Actual Cash Value(ACV) - correct answer - Replacement
Cost minus Depreciation
12. Coinsurance - correct answer - The amount, generally
expressed as a fixed percentage, an insured must pay against
a claim after the deductible is satisfied. It's ultimately a way for
the insured and insurer to share responsibility for the risk. It can
also help reduce the cost of the insurance policy premium.
Coinsurance can be written on an 80/20, 90/100, or 100% rule.
13. Personal Contract - correct answer - Policies cover people
who own and operate things, such as automobiles.
, Page | 4
14. Conditional Contract - correct answer - Also called a
hypothetical contract, is a contract agreement that only
requires performance once the delineated conditions are met.
This legal agreement requires prior performance of another
agreement or clause in order to be enforceable. If the other
agreement or condition is performed, then the conditional
contract is enforceable and the parties are bound to carry out
the terms of the contract.
15. Contract of Indemnity - correct answer - Principle of
insurance that provides that when a loss occurs, the insured
should be restored to the approximate financial condition
he/she occupied before the loss occurred, no better or no
worse.
16. Insurable Interest - correct answer - the reasonable concern
of a person to obtain insurance for any individual or property
against unforeseen events such as death, losses, etc.
17. Waiver - correct answer - 1.) Implied voluntary
relinquishment, abandoning a legal advantage, need, claim or
right.
18. 2.) Agreement or added clause of a policy that excludes
some losses or limits the sum of a claim, or extends coverage
to add items not in a normal policy.
FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL
LINES ADJUSTER- FLORIDA- REVIEW EXAM
2025| BRAND NEW ACTUAL EXAM WITH 100%
VERIFIED QUESTIONS AND CORRECT
SOLUTIONS| GUARANTEED VALUE PACK| ACE
YOUR GRADES.
1. Peril - correct answer - Something that causes a loss.
2. Hazard - correct answer - Something that increases the
probability that a loss will occur.
3. Warranty - correct answer - A policy condition, either based on
information in the insureds application or inserted by the
insurer. It is a guarantee of a fact.
4. Misrepresentation - correct answer - An untrue statement by
the insured, made in an application for insurance but which
does not become a part of the policy.
, Page | 2
5. Concealment - correct answer - The failure of the insured to
reveal relevant facts known to the insured in applying for
insurance.
6. Abandonment - correct answer - Property insurance policies
usually contain an abandonment clause, stating the insured
cannot dump damaged property on the insurer and demand its
full value.
7. Severability - correct answer - The insurance applies
separately to each insured as if other insureds did not exist.
8. Proximate Cause - correct answer - The cause having the most
significant impact in bringing about the loss under a first-party
property insurance policy, when two or more independent perils
operate at the same time (i.e., concurrently) to produce a loss.
Courts employ a set of rules to resolve causation disputes
when a property policy states that it covers or excludes losses
"caused by" a peril and there is more than one peril at work in a
fact pattern. Under common law, whether the policy provides
coverage depends on which peril is chosen as the proximate
cause.
, Page | 3
9. Direct Loss - correct answer - Physical harm to tangible
property.
10. Indirect Loss - correct answer - Economic loss which flows
as a result of direct loss.
11. Actual Cash Value(ACV) - correct answer - Replacement
Cost minus Depreciation
12. Coinsurance - correct answer - The amount, generally
expressed as a fixed percentage, an insured must pay against
a claim after the deductible is satisfied. It's ultimately a way for
the insured and insurer to share responsibility for the risk. It can
also help reduce the cost of the insurance policy premium.
Coinsurance can be written on an 80/20, 90/100, or 100% rule.
13. Personal Contract - correct answer - Policies cover people
who own and operate things, such as automobiles.
, Page | 4
14. Conditional Contract - correct answer - Also called a
hypothetical contract, is a contract agreement that only
requires performance once the delineated conditions are met.
This legal agreement requires prior performance of another
agreement or clause in order to be enforceable. If the other
agreement or condition is performed, then the conditional
contract is enforceable and the parties are bound to carry out
the terms of the contract.
15. Contract of Indemnity - correct answer - Principle of
insurance that provides that when a loss occurs, the insured
should be restored to the approximate financial condition
he/she occupied before the loss occurred, no better or no
worse.
16. Insurable Interest - correct answer - the reasonable concern
of a person to obtain insurance for any individual or property
against unforeseen events such as death, losses, etc.
17. Waiver - correct answer - 1.) Implied voluntary
relinquishment, abandoning a legal advantage, need, claim or
right.
18. 2.) Agreement or added clause of a policy that excludes
some losses or limits the sum of a claim, or extends coverage
to add items not in a normal policy.
