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FLORIDA76ADJUSTER76EXAM76COVERING76ALL76ACTU
AL76PRACTICE76QUESTIONS76ANSWERED76CORRECT
LY7676RECENT76VERSION76202576BEST76GRADE76A+
Frank76owned76a76home76that76was76destroyed76by76a76hurricane.76Both76ABC76and76XYZ76Ba
nks76were76listed76as76additional76interests76on76his76homeowner76policy.76The76insurance76co
mpany76will76make76a76payment76to:
A. The76first76mortgagee,76ABC
B. The76Insured
C. Jointly76to76ABC76and76XYZ
D. All76listed76interests76-76ANSWER:76D.76All76listed76interests
Remember76that76the76insurer76is76not76responsible76to76know76the76degrees76of76interest.76In7
6the76event76of76a76loss,76one76payment76is76made76by76the76insurer76and76it76is76up76to76the76
additional76interests76on76working76out76their76share.
Insurance76applies76separately76to76each76insured76as76if76other76insureds76did76not76exist.76T
his76is76defined76as:
A. Severability
B. Conditional
C. Warranty
D. None76of76the76above76-76ANSWER:76A.76Severability
SPECIALISTS76EXAM
, SPECIALISTS76EXAM
Property76insurance76policies76usually76contain76a(n)76
clause,76stating76t
he76insured76cannot76dump76damaged76property76on76the76insurer76and76demand76its76
full76value:
A. Pro76Rata
B. Abandonment
C. Liberalization
SPECIALISTS76EXAM
, SPECIALISTS76EXAM
Page76276of7656
D. All76of76the76above76-76ANSWER:76B.76Abandonment
A(n)76
is76one76wherein76economic76loss76would76be76suffered76from76a
n76adverse76happening76to76the76subject:
A. Conditional76Contract
B. Personal76Contract
C. Economic76Contract
D. Insurable76Interest76-76ANSWER:76D.76Insurable76Interest
States76that76if76the76insurer76adopts76a76revision76which76would76broaden76coverage76without
76additional76premium76within76some76period76of76time76prior76to76the76policy76period76or76durin
g76the76policy76period,76the76insured76receives76the76benefit76of76such76broadened76coverage.
A. Cancellation76Clause
B. Policy76Period
C. Pro76Rata
D. Liberalization76-
76ANSWER:76D.76Liberalization76The76time76frame76is76t
ypically766076days.
The76
states76that76when76there76is76an76unbroken76connection76between76an76
occurrence76and76damage76that76grows76out76of76the76occurrence,76then76the76resultant76da
mage76is76all76a76part76of76the76occurrence.
A. Doctrine76of76Proximate76Cause
B. Doctrine76of76Perils76&76Hazards
C. Insurance76Policy76Handbook
D. Doctrine76of76Property76Insurance76-76ANSWER:76A.76Doctrine76of76Proximate76Cause
For76example,76if76a76property76insurance76policy76covers76the76peril76of76fire76but76further76da
mage76is76caused
, SPECIALISTS76EXAM