FLORIDA PUBLIC ADJUSTERS 3-20 STATE EXAM (SET 1)
EXAM QUESTIONS WITH COMPLETE SOLUTIONS
GUARANTEED PASS 2025/2026
Insurance contracts are written on a take it or leave it basis to
the policy owner. - ANSWER ->Adhesion
Event or circumstance that causes damage - ANSWER
>Occurance
Coverage provides for payment of losses if civil authority denies access
to the insured premises due to a covered peril - ANSWER ->Civil
Authority
Voluntary relinquishment of a known legal right - ANSWER
>Waiver
An insurer domiciled outside the state where it writes
insurance - ANSWER ->Foreign
A state officer who administers the state's insurance laws and
regulations - ANSWER ->Commissioner
Used as a promise to accept a bid if awarded to a company - ANSWER -
>Bid bond
Damaged property an insurer takes over to reduce their loss after
paying a claim - ANSWER ->Salvage
,Factual statements upon which an insurance policy is based - ANSWER -
>Representations
A contract between two parties that offer the consumer little to no
leeway to negotiate the terms of the contract - ANSWER -
>Contract of adhesion
Publication in any media by the insured about goods or services
- ANSWER ->Advertisements
Also known as Absolute Liability, based on the theory of the duty of
making something sage that is inherently dangerous -
ANSWER ->Strict Torts
A house, structure, also referred to as a "primary risk" - ANSWER -
>Dwelling
Condition enforced by the courts to do something bound under law or
in a contract - ANSWER ->Strict Torts
Amount of loss paid by the policy holder - ANSWER -
>Deductible
Violation of an agreement between a seller and buyer in reference to
the condition, content, quality, or title of an item sold - ANSWER -
>Breach of Warranty
Compensation, reparation - ANSWER ->Indemnify
, Provides property coverage on a contractor's interest in equipment
intended for permanent installation while it is being transported,
unloaded, and installed - ANSWER ->Installation
Floater
A beneficiary of a contract only as a result of the First Party's negligence
- ANSWER ->Third Party
Reinsurance agreement where the insurers involved will pay claims in
direct relationship with the % of the risk that they are insuring -
ANSWER ->Quota Share
Sharing the cost of replacement - ANSWER ->Risk Sharing
A legal action filed by one or more persons on behalf of themselves and
others having an identical interest in the
alleged wrongdoing - ANSWER ->Class-Action
A specific risk or cause of loss covered by an insurance policy, such as
fire, windstorm, flood, theft, etc. - ANSWER ->Peril Dangers in a store,
warehouse, or office; circumstances of risks and perils determine who
is responsible for _____ - ANSWER
>Premises Liability
A loss or risk the policy doesn't cover - ANSWER ->Exclusions
Technique used to transfer the risk of a person, business, or
organization in another through the use of a two-party contract
- ANSWER ->Insurance
EXAM QUESTIONS WITH COMPLETE SOLUTIONS
GUARANTEED PASS 2025/2026
Insurance contracts are written on a take it or leave it basis to
the policy owner. - ANSWER ->Adhesion
Event or circumstance that causes damage - ANSWER
>Occurance
Coverage provides for payment of losses if civil authority denies access
to the insured premises due to a covered peril - ANSWER ->Civil
Authority
Voluntary relinquishment of a known legal right - ANSWER
>Waiver
An insurer domiciled outside the state where it writes
insurance - ANSWER ->Foreign
A state officer who administers the state's insurance laws and
regulations - ANSWER ->Commissioner
Used as a promise to accept a bid if awarded to a company - ANSWER -
>Bid bond
Damaged property an insurer takes over to reduce their loss after
paying a claim - ANSWER ->Salvage
,Factual statements upon which an insurance policy is based - ANSWER -
>Representations
A contract between two parties that offer the consumer little to no
leeway to negotiate the terms of the contract - ANSWER -
>Contract of adhesion
Publication in any media by the insured about goods or services
- ANSWER ->Advertisements
Also known as Absolute Liability, based on the theory of the duty of
making something sage that is inherently dangerous -
ANSWER ->Strict Torts
A house, structure, also referred to as a "primary risk" - ANSWER -
>Dwelling
Condition enforced by the courts to do something bound under law or
in a contract - ANSWER ->Strict Torts
Amount of loss paid by the policy holder - ANSWER -
>Deductible
Violation of an agreement between a seller and buyer in reference to
the condition, content, quality, or title of an item sold - ANSWER -
>Breach of Warranty
Compensation, reparation - ANSWER ->Indemnify
, Provides property coverage on a contractor's interest in equipment
intended for permanent installation while it is being transported,
unloaded, and installed - ANSWER ->Installation
Floater
A beneficiary of a contract only as a result of the First Party's negligence
- ANSWER ->Third Party
Reinsurance agreement where the insurers involved will pay claims in
direct relationship with the % of the risk that they are insuring -
ANSWER ->Quota Share
Sharing the cost of replacement - ANSWER ->Risk Sharing
A legal action filed by one or more persons on behalf of themselves and
others having an identical interest in the
alleged wrongdoing - ANSWER ->Class-Action
A specific risk or cause of loss covered by an insurance policy, such as
fire, windstorm, flood, theft, etc. - ANSWER ->Peril Dangers in a store,
warehouse, or office; circumstances of risks and perils determine who
is responsible for _____ - ANSWER
>Premises Liability
A loss or risk the policy doesn't cover - ANSWER ->Exclusions
Technique used to transfer the risk of a person, business, or
organization in another through the use of a two-party contract
- ANSWER ->Insurance
