FLORIDA CLAIMS ADJUSTER COMPETENCY
REVIEW 2026 MOCK TEST COMPLETE KEY
INSIGHTS
◉ Severability.
Answer: The insurance applies separately to each insured as if other
insureds did not exist.
◉ Contract of Indemnity.
Answer: One should return to their same position as they were
before the loss occurred. This limits the number of people
intentionally causing losses because it was to their economic
advantage.
◉ Binder.
Answer: Acts as a temporary contract until the policy is issued.
◉ Loss Payee Clause.
Answer: A Clause in a contract of insurance that provides, in the
event of payment being made under the policy in relation to the
insured risk, that payment will be made to a 3rd party rather than to
the insured beneficiary of the policy.
, ◉ Building Ordinance Coverage.
Answer: This endorsement covers the insured for enforcement of
laws which require demolition of undamaged portions of buildings.
◉ Bid.
Answer: Aggreement to fulfill a contractual obligation used
frequently in construction and supplying goods.
◉ Sliding.
Answer: Selling an item and stating that it is required by law.
◉ Garage Coverage Form.
Answer: Used to insure businesses engaged in selling, servicing,
repairing, parking or storing autos.
◉ Truckers Coverage Form.
Answer: Used to insure businesses that are hired to transport goods
for someone else.
◉ Business Auto Coverage Form.
Answer: Used to insure the automobile exposures of all businesses
other than garage or trucking businesses.
REVIEW 2026 MOCK TEST COMPLETE KEY
INSIGHTS
◉ Severability.
Answer: The insurance applies separately to each insured as if other
insureds did not exist.
◉ Contract of Indemnity.
Answer: One should return to their same position as they were
before the loss occurred. This limits the number of people
intentionally causing losses because it was to their economic
advantage.
◉ Binder.
Answer: Acts as a temporary contract until the policy is issued.
◉ Loss Payee Clause.
Answer: A Clause in a contract of insurance that provides, in the
event of payment being made under the policy in relation to the
insured risk, that payment will be made to a 3rd party rather than to
the insured beneficiary of the policy.
, ◉ Building Ordinance Coverage.
Answer: This endorsement covers the insured for enforcement of
laws which require demolition of undamaged portions of buildings.
◉ Bid.
Answer: Aggreement to fulfill a contractual obligation used
frequently in construction and supplying goods.
◉ Sliding.
Answer: Selling an item and stating that it is required by law.
◉ Garage Coverage Form.
Answer: Used to insure businesses engaged in selling, servicing,
repairing, parking or storing autos.
◉ Truckers Coverage Form.
Answer: Used to insure businesses that are hired to transport goods
for someone else.
◉ Business Auto Coverage Form.
Answer: Used to insure the automobile exposures of all businesses
other than garage or trucking businesses.
