ne
sh
ACA FINAL EXAM QUESTIONS AND
ne
ANSWERS
la
tz
sh
Sp
ne
At the end of this course, you must do which of the following?
la
sh
Pass the final course exam with a scored of 70% or higher
Sp
ne
Print your certificate from this website
la
tz
Apply for your Insurance Adjuster license at the Florida Department of Financial
sh
Sp
Services website at www.myfloridacfo.com/division/agents
ne
la
All of the above - Answer All of the above
sh
Which of the following is NOT one of the duties of the Department of Financial
Sp
ne
Services?
la
License adjusters
tz
sh
Set rates and write policies for various company products
Sp
Supervise the claims activity of adjusters
ne
Investigate charges of unethical conduct of adjusters - Answer Set rates and write
la
policies for various company products
sh
Sp
When an insurance licensee moves, he has how long to notify the Florida Dept. of
ne
Financial Services of his change of address?
la
10 Days
tz
30 Days
sh
Sp
60 Days
ne
180 Days - Answer 30
la
An Insurance Policy is a contract with all of the following characteristics, EXCEPT
sh
Sp
ne
It is a personal contract.
Parties are of unequal power with ambiguities or unclear wording resolved in favor of
a
the insured because it is a contract of adhesion.
tz
l
sh
Indemnity is not part of an insurance contract.
Sp
There are conditions imposed upon both the insurer and insured. - Answer Indemnity is
ne
not part of an insurance contract.
la
sh
Sp
la
Sp
, ne
sh
ne
An insurance contract may contain a "gray area" or an ambiguity, that is generally
la
resolved in favor of the insured because insurance policies are contracts of:
tz
sh
Sp
Indemnity
Cohesion
Adhesion ne
la
Conditions - Answer adhesion
sh
Sp
Strict or Absolute Liability
ne
la
applies to school systems.
tz
must have failure to use "due care.
sh
Sp
"considers the actions of a prudent person.
ne
is assigned by law or statute. - Answer is assigned by law or statute.
la
Risks that are insurable are:
sh
Sp
ne
Speculative risk
Pure risk
la
Both A & B
tz
sh
None of the above - Answer Pure Risk
Sp
ne
The goal of insurance is to restore the insured to the same economic position as before
la
the covered loss occurred, this is the principle of:
sh
Adhesion
Sp
ne
Actual Cash Value
Indemnity
la
tz
Severability - Answer Indemnity sh
Sp
ne
Firemen caused water damage to a property by spraying water to put out a fire. If the
property insurance policy listed "fire" as the only named peril:
la
sh
The water damage is not a covered peril.
Sp
The fire dept. has liability for the water damage.
ne
The water damage is covered due to the concept of proximate cause.
a
The Fire damage is covered but not the water damage due to proximate cause. -
tz
Answer The water damage is covered due to the concept of proximate cause.
l
sh
Sp
ne
XYZ Insurance Corp. filed its corporate charter in Tallahassee and has its home office in
Tampa:
la
sh
Sp
la
Sp
sh
ACA FINAL EXAM QUESTIONS AND
ne
ANSWERS
la
tz
sh
Sp
ne
At the end of this course, you must do which of the following?
la
sh
Pass the final course exam with a scored of 70% or higher
Sp
ne
Print your certificate from this website
la
tz
Apply for your Insurance Adjuster license at the Florida Department of Financial
sh
Sp
Services website at www.myfloridacfo.com/division/agents
ne
la
All of the above - Answer All of the above
sh
Which of the following is NOT one of the duties of the Department of Financial
Sp
ne
Services?
la
License adjusters
tz
sh
Set rates and write policies for various company products
Sp
Supervise the claims activity of adjusters
ne
Investigate charges of unethical conduct of adjusters - Answer Set rates and write
la
policies for various company products
sh
Sp
When an insurance licensee moves, he has how long to notify the Florida Dept. of
ne
Financial Services of his change of address?
la
10 Days
tz
30 Days
sh
Sp
60 Days
ne
180 Days - Answer 30
la
An Insurance Policy is a contract with all of the following characteristics, EXCEPT
sh
Sp
ne
It is a personal contract.
Parties are of unequal power with ambiguities or unclear wording resolved in favor of
a
the insured because it is a contract of adhesion.
tz
l
sh
Indemnity is not part of an insurance contract.
Sp
There are conditions imposed upon both the insurer and insured. - Answer Indemnity is
ne
not part of an insurance contract.
la
sh
Sp
la
Sp
, ne
sh
ne
An insurance contract may contain a "gray area" or an ambiguity, that is generally
la
resolved in favor of the insured because insurance policies are contracts of:
tz
sh
Sp
Indemnity
Cohesion
Adhesion ne
la
Conditions - Answer adhesion
sh
Sp
Strict or Absolute Liability
ne
la
applies to school systems.
tz
must have failure to use "due care.
sh
Sp
"considers the actions of a prudent person.
ne
is assigned by law or statute. - Answer is assigned by law or statute.
la
Risks that are insurable are:
sh
Sp
ne
Speculative risk
Pure risk
la
Both A & B
tz
sh
None of the above - Answer Pure Risk
Sp
ne
The goal of insurance is to restore the insured to the same economic position as before
la
the covered loss occurred, this is the principle of:
sh
Adhesion
Sp
ne
Actual Cash Value
Indemnity
la
tz
Severability - Answer Indemnity sh
Sp
ne
Firemen caused water damage to a property by spraying water to put out a fire. If the
property insurance policy listed "fire" as the only named peril:
la
sh
The water damage is not a covered peril.
Sp
The fire dept. has liability for the water damage.
ne
The water damage is covered due to the concept of proximate cause.
a
The Fire damage is covered but not the water damage due to proximate cause. -
tz
Answer The water damage is covered due to the concept of proximate cause.
l
sh
Sp
ne
XYZ Insurance Corp. filed its corporate charter in Tallahassee and has its home office in
Tampa:
la
sh
Sp
la
Sp
