1|Page
FLORIDA 6-20 ALL LINES ADJUSTER NEWEST
EXAM WITH ACTUAL QUESTIONS AND
CORRECT VERIFIED ANSWERS|ALREADY
GRADED A+/100% GUARANTEED TO PASS
CONCEPTS
Peril - ....ANSWER ....✔✔ Something that causes a
loss.
Hazard - ....ANSWER ....✔✔ Something that increases
the probability that a loss will occur.
Warranty - ....ANSWER ....✔✔ A policy condition,
either based on information in the insureds application
or inserted by the insurer. It is a guarantee of a fact.
Misrepresentation - ....ANSWER ....✔✔ An untrue
statement by the insured, made in an application for
insurance but which does not become a part of the
policy.
,2|Page
Concealment - ....ANSWER ....✔✔ The failure of the
insured to reveal relevant facts known to the insured in
applying for insurance.
Abandonment - ....ANSWER ....✔✔ Property insurance
policies usually contain an abandonment clause, stating
the insured cannot dump damaged property on the
insurer and demand its full value.
Severability - ....ANSWER ....✔✔ The insurance
applies separately to each insured as if other insureds
did not exist.
Proximate Cause - ....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.
,3|Page
Direct Loss - ....ANSWER ....✔✔ Physical harm to
tangible property.
Indirect Loss - ....ANSWER ....✔✔ Economic loss which
flows as a result of direct loss.
Actual Cash Value(ACV) - ....ANSWER ....✔✔
Replacement Cost minus Depreciation
Coinsurance - ....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.
Personal Contract - ....ANSWER ....✔✔ Policies cover
people who own and operate things, such as
automobiles.
Conditional Contract - ....ANSWER ....✔✔ Also called
a hypothetical contract, is a contract agreement that
only requires performance once the delineated
, 4|Page
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.
Contract of Indemnity - ....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.
Insurable Interest - ....ANSWER ....✔✔ the reasonable
concern of a person to obtain insurance for any
individual or property against unforeseen events such as
death, losses, etc.
Waiver - ....ANSWER ....✔✔ 1.) Implied voluntary
relinquishment, abandoning a legal advantage, need,
claim or right.
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 6-20 ALL LINES ADJUSTER NEWEST
EXAM WITH ACTUAL QUESTIONS AND
CORRECT VERIFIED ANSWERS|ALREADY
GRADED A+/100% GUARANTEED TO PASS
CONCEPTS
Peril - ....ANSWER ....✔✔ Something that causes a
loss.
Hazard - ....ANSWER ....✔✔ Something that increases
the probability that a loss will occur.
Warranty - ....ANSWER ....✔✔ A policy condition,
either based on information in the insureds application
or inserted by the insurer. It is a guarantee of a fact.
Misrepresentation - ....ANSWER ....✔✔ An untrue
statement by the insured, made in an application for
insurance but which does not become a part of the
policy.
,2|Page
Concealment - ....ANSWER ....✔✔ The failure of the
insured to reveal relevant facts known to the insured in
applying for insurance.
Abandonment - ....ANSWER ....✔✔ Property insurance
policies usually contain an abandonment clause, stating
the insured cannot dump damaged property on the
insurer and demand its full value.
Severability - ....ANSWER ....✔✔ The insurance
applies separately to each insured as if other insureds
did not exist.
Proximate Cause - ....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.
,3|Page
Direct Loss - ....ANSWER ....✔✔ Physical harm to
tangible property.
Indirect Loss - ....ANSWER ....✔✔ Economic loss which
flows as a result of direct loss.
Actual Cash Value(ACV) - ....ANSWER ....✔✔
Replacement Cost minus Depreciation
Coinsurance - ....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.
Personal Contract - ....ANSWER ....✔✔ Policies cover
people who own and operate things, such as
automobiles.
Conditional Contract - ....ANSWER ....✔✔ Also called
a hypothetical contract, is a contract agreement that
only requires performance once the delineated
, 4|Page
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.
Contract of Indemnity - ....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.
Insurable Interest - ....ANSWER ....✔✔ the reasonable
concern of a person to obtain insurance for any
individual or property against unforeseen events such as
death, losses, etc.
Waiver - ....ANSWER ....✔✔ 1.) Implied voluntary
relinquishment, abandoning a legal advantage, need,
claim or right.
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.
