Florida Claims Adjuster (6-20) Practice Test

These questions are part of the practice quiz. Start practicing

• Which Inland Marine policy would cover shipments year-round?
• In the non-construction industry, all of the following employments are exempt from Workers Compensation EXCEPT:
• Value Reporting describes a coverage limit set at an amount somewhat higher than which value?
• If an Umbrella Policy serves as primary coverage, which part allows the insurer to apply a deductible?
• How many days does a non-resident vehicle physically present in Florida have to be subject to the no-fault law?
• Direct Loss is defined as ...
• A bid is described as which of the following?
• Funding for Tier Three employers is based on which participants?
• Domestic Insurer is defined as what?
• In a cross-state accident with a Florida policy of 10/20/10 and Georgia minimum of 20/40/10, how will the Florida policy respond?
• Replacement Services under Basic PIP cover the cost of household services performed by whom?
• Trucker insurance premiums are based on all EXCEPT?
• The claims adjuster's role in the insurance industry includes which activity?
• Which action is described as binding insurance coverage, i.e., transacting insurance?
• What is the amount allotted for funeral expenses under Workers' Compensation benefits?
• Limited Customer Representative 4-42 may transact Auto insurance in which setting?
• All of the following are included in the definition of a building, EXCEPT:
• Bodily Injury (BI) is defined as which of the following?
• Which term describes a total loss of a motor vehicle or mobile home?
• Which party is protected by the mortgagee clause in a real property policy?
• Which bond protects the consumer against misrepresentation of a securities dealer?
• A florist wanted coverage on business contents, which vary in amount over the course of a year. Which form best fits this situation?
• Appraisal is defined in the material as a written contract of or written agreement for or effecting insurance, including all clauses and endorsements. Which term is described?
• If a loss occurs outside the stated policy territory, what is its coverage status?
• In condo losses where both forms apply, which form is primary for payment?
• A Bureau Adjuster is described as which of the following?
• Employment Related Practices Liability provides employers with which type of coverage?
• Additional PIP applies only to which group?
• Under Florida health coverage concepts, which organization is associated with coordinated, prepaid health services?
• Under the Discovery form, a loss is covered if discovered during the policy period or within how many days after expiration, regardless of when it occurred?
• Which Inland Marine policy protects those who ship and receive goods on an annual basis?
• Which of the following is NOT a minimum requirement under the Financial Responsibility Law?
• A Conditional Contract is enforceable only if which occurs?
• Under Property Covered, the policy covers property the named insured owns or holds or for which the insured is legally liable, and for whose benefit?
• In an 80/20 coinsurance arrangement, what portion does the insured typically pay after deductible?
• An HO-4 Policy is designed for a:
• Which statement best describes Property Insurance?
• Building Ordinance Coverage pays for enforcement actions requiring demolition of which portions?
• The purpose of indemnity is to restore the insured to what financial state after a loss?
• Coverage Territory includes which locations?
• Which description best fits the All Lines Claims Adjuster 6-20 role?
• Which term describes the essential elements such as offer, acceptance, and consideration that make a contract enforceable?
• An Umbrella Policy provides higher liability limits that extend beyond core home and auto coverages to protect against which scenario?
• Which description best fits a Personal Contract in insurance?
• The insured has PIP deductible of $1,000 and medicals of $12,000 with lost wages of $6,000. How much will PIP pay?
• Which of the following would not result in license suspension?
• Which statement best describes the general role of a claims adjuster as described in the material?
• Indirect Loss is defined as ...
• Health insurance protects against all of the following, EXCEPT:
• Which scenario best describes sliding in insurance terms?
• A partial owner of a building cannot receive full value for the building in the event of a loss because of?
• How must policy changes be effected according to the rules?
• A Claims Adjuster is best described as which of the following?
• Hail damage to an auto is an example of?
• Under the Business and Personal Property Coverage Form, all of the following are additional coverages EXCEPT:
• Which of the following is a violation of the Unfair Trade Practices Act?
• Medical Payments coverage under a CGL policy generally does not apply to injuries to which group?
• Policy Territory sets coverage limits by geography. Coverage is limited to losses that take place where?
• Which statement best describes Commercial Inland Marine insurance?
• After paying a claim, the insurer's right to pursue recovery from the responsible party is known as?
• Under the Building and Personal Property Coverage Form, which of the following is included in the definition of a building?
• All of the following are eligible for a Homeowner Policy, EXCEPT:
• What term describes pro-rata sharing of a loss when a master sacrifices cargo to save the ship?
• Which term refers to something that causes a loss?
• Which statement best defines an alien insurer?
• Which policy covers shipments and deliveries on a single-trip basis?
• Which losses are covered under Boiler and Machinery policy?
• A Florida employee was sent to Boston to work for one week. While in Boston, they were injured on the job. How is the injury covered under WC benefits?
• If a private employer has exactly four employees, which statement is true regarding WC?
• Which bond guarantees performance of a construction contract?
• Under HO-3, Coverage B is typically what percent of Coverage A?
• If two distinct perils occur at the same time and one is designated the proximate cause, the policy's outcome follows that peril's effects. This describes which concept?
• Which item is not typically a Peril of the Sea?
• If an insured collects damages under their insurance policy instead of pursuing the other party, what happens to the insured's rights against the other party?
• In a surety bond, which party is typically the project owner seeking to protect?
• If the insured collects damages via their policy, what happens to the insured's subrogation rights?
• What is the minimum basic liability limit for a Boiler and Machinery policy?
• Extended PIP increases which benefit percentage?
• Which endorsement is explicitly listed as part of the Commercial General Liability contract?
• Comprehensive Coverage, as described, covers which losses?
• Apportionment refers to which of the following?
• Which term describes informing an applicant that a specific ancillary coverage is required by law when such a coverage is not required by law?
• The Supplemental Extended Reporting Period is typically available after expiration of which policy?
• When covered property is damaged, the cost for temporary repairs and the cost to expedite permanent repairs or replacement is covered under:
• Which endorsement is intended to guard inventory during seasonal peaks?
• In the 10/20/10 no-fault limits, what does the '20' represent?
• The Mortgage Clause in a property policy grants special protection for which party?
• In the 10/20/10 scheme, what does the first number '10' represent?
• Which of the following is NOT a component of negotiating EXCEPT?
• Which description best defines a Personal Contract in insurance?
• Which is not one of the core factors looked at in bond underwriting?
• Which of the following are examples of a peril?
• Which location is NOT included in the Coverage Territory?
• Insurable Interest refers to what concept?
• Under Comprehensive Coverage, which losses have a $500 deductible per occurrence?
• Underwriting an aircraft hull policy includes all of the following considerations, EXCEPT:
• Which item is identified by the Declarations page besides the named insured and address?
• Which of the following is not eligible for a homeowners policy?
• What does the Coverage Trigger determine?
• Representing to an applicant that a legally mandated coverage exists when it does not is an example of which misrepresentation?
• How many people can a private employer hire before they are required to purchase WC?
• Which of the following is a deductible listed on the Personal Auto Policy Declaration Page?
• A windshield costs $650 to replace. The vehicle has a $500 collision deductible and a $250 other-than-collision deductible. The insurer will pay how much?
• Three types of property are covered under the Building and Personal Property coverage form. They are:
• The clause that protects the lender in a real property policy is the:
• Comparative negligence reduces damages by the degree of what?
• Which Florida statute grants the right to sue an insurer for damages due to unfair practices?
• The insurance applies separately to each insured as if the other insureds did not exist.
• What is the basic Medical Payment coverage limit under a CGL policy?
• An Express Waiver occurs when:
• Joe wants PAP coverage for his company car. What coverage would you add?
• ACV is defined as replacement cost minus depreciation.
• What is the maximum death benefit payable to eligible dependents under WC?
• The clause that protects the lender in a real property policy is the?
• For establishing financial responsibility after an accident, what are the two actions that must occur?
• Which statement best differentiates Property Insurance from Liability Insurance?
• Which loss is covered under Forgery Or Alteration?
• The Florida Financial Responsibility Law is triggered by?
• Contract bonds include all of the following, EXCEPT:
• Valuation: Securities are valued at what?
• If a claimant is represented by an attorney, the adjuster should?
• Which of the following is a fiduciary responsibility of a claims adjuster?
• Which license category authorizes writing property/casualty, surety, or health insurance?
• Which agency administers the Financial Responsibility Law?
• Under the Valuation Clause, replacement cost applies if property is repaired or replaced within how many months?
• What is the standard deductible under Comprehensive Coverage per car?
• E&O claims arise from which factors?
• Which is the largest limit available for commercial vehicles in the residual market?
• Florida Valued Policy Law requires payment of what amount on a total loss?
• Which situation is not covered for liability under an HO3 policy?
• What is the combination name for joining property and liability into one policy to save underwriting expenses?
• Under common law, whether the policy provides coverage depends on which peril is chosen as the proximate cause. Which term describes this principle?
• Which description best matches a PPO?
• Temporary structures on or within 100 feet of the premises are included as part of the building under the Building and Personal Property Coverage Form.
• Which endorsement should be purchased to cover inventory during peak demand months?
• The coverage for damage to an aircraft under the care, custody and control of the insured while the plane is in storage is:
• Which statement best defines a Waiver in insurance?
• Which statement describes a Health Maintenance Organization (HMO) in health care terms?
• Property Damage includes loss of use of the property?
• Which of the following best describes a Company or Staff Adjuster?
• What term describes loss distribution when cargo is sacrificed to save the ship?
• What is the minimum age that a person can obtain an adjuster's insurance license?
• A Claim is defined as which of the following?
• Which description best fits a derelict in the context of insurance material?
• Which item is identified on the Declarations page?
• Which statement best describes the main elements of Florida law regarding immunities and PIP?
• The adjuster's duty to the insurer is best described as?
• The Truckers form that provides liability coverage for damage to non-owned trailers is called?
• If Jane causes an at-fault accident while driving Mary's car, with Mary's liability limits of 10/20/10 and Jane's 100/300/100, and Bob has $40,000 in bodily injury, how much will be collected from Jane's policy?
• How is an Independent Adjuster best described?
• Pollution: What is the general coverage stance?
• Which statement best describes the Valuation method for money, securities, and other property?
• Tom is injured in a not at-fault auto accident and has temporary injuries. What can be recovered in a tort claim if he has $16,000 in medical bills with a $1,000 PIP deductible?
• Damages in a civil action refer to:
• Which policy form is designed to cover renters' personal property?
• Coverage C refers to which type of coverage?
• Which statement about Mechanical Breakdown Coverage is true?
• Which item is not covered under Coverage C for a standard HO policy?
• Commercial Inland Marine Insurance covers risks related to which types of property?
• Under PAP liability, which of the following is covered?
• Uninsured Motorists coverage is used to cover the insured for?
• A Loan Receipt is best described as which of the following?
• The cause having the most significant impact in bringing about the loss when two or more independent perils occur concurrently is called ...
• Property Damage (PD) is defined as which of the following?
• An insured wants to fly to Canada and then down to Mexico. Will he have coverage available for this trip?
• Which item is not covered under Coverage C of a standard HO policy?
• Misappropriation of funds is listed as a reason for suspension, revocation, or termination of a license.
• Under Supplemental Payments in a CGL policy, which item is not covered?
• A selected group of hospitals and doctors in a given area who have joined together to reduce medical costs is:
• To be considered an insurance contract, a policy must be?
• Which statement best reflects insurable interest?
• What is unique about lawyer's professional liability insurance?
• When an adjuster deals with a claimant who is not a policyholder, this claim is known as a?
• In the Florida regulatory context, what does FLDFS stand for?
• Property insurance policies often include a clause stating the insured cannot dump damaged property on the insurer and demand its full value. This is known as ...
• Under Comprehensive Coverage, which loss is excluded from coverage?
• Which principle prevents paying more than the actual loss?
• HO3 liability coverage would apply to which scenario?
• Under the policy period rule, the coverage applies only to losses that occur during which timeframe?
• Under what circumstances may an adjuster's investigation be expanded beyond a simple verification?
• Failure to comply with the Workers Compensation Law is classified as which offense?
• The principle of indemnity prevents duplicate recovery for the same loss. Which term describes this principle?
• The Farm Employers Liability/Medical Payments Endorsement applies basic Liability and Medical Payments Coverages to injuries to farm employees, but not to workers' compensation eligible employees. Which statement is true?
• Which of the following is not one of the basic claims activities of the adjuster?
• The successful adjuster/negotiator should understand that communication includes all of the following EXCEPT?
• A fourth party to a bond is called a:
• What is the death benefit amount under PIP?
• Under the Occurrence form, BI or PD occurring during the policy period are covered regardless of when a claim is made.
• Which best describes health insurance?
• The provision in the Builders Risk Coverage Form that penalizes underinsurance is called?
• Which party may cancel a policy without advance notice?
• In the PIP scenario with a deductible, which amount represents the maximum PIP payout shown in the example?
• How many days should an insurer give for prior notice of cancellation of a binder?
• What is the purpose of endorsements in a property policy?
• Before flood coverage is approved for a community, the policy is under which program?
• Admitted Liability is:
• Which option allows a policyholder to reject UM coverage in writing?
• For UM coverage with three cars on the policy and unstacked coverage, what is the maximum UM payout available per accident?
• Which form is used for condo owners in Homeowners insurance?
• All of the following are penalties for non-compliance with Workers Compensation laws, EXCEPT:
• Which statement best defines a Fee Adjuster?
• When there is an unbroken connection between an occurrence and the damage that arises from the occurrence, this is known as?
• Additional PIP increases the $10,000 limit by amounts such as which of the following?
• Which exposures are covered by the Leaseholder Interest Coverage Form?
• Which endorsement applies basic Liability and Medical Payments coverages to injuries to farm employees, but not to workers' compensation eligible employees?
• A Conditional Contract is best described as what?
• Which of the following is an example of transacting insurance?
• The standard 30 day deadline for reporting an address change to FLDFS is used in which state?
• Which statement best defines a foreign insurer for regulatory purposes?
• If a health insurance policy cannot be cancelled and can be renewed at the option of the insured to a stated age with no premium increases, this policy is:
• Public Auto within a Business Auto Policy refers to which type of vehicles?
• Valuation: Money is valued at what value?
• Which form is used to insure businesses engaged in selling, servicing, repairing, parking or storing autos?
• Under Lesses of Safe Deposit Boxes coverage, which items are included?
• Which option allows elect non-stacked UM coverage in writing?
• Commercial Crime Forms can be written as which options?
• How many days does the insured have to request the Supplemental Extended Reporting Period after a claims-made CGL policy expires?
• An entity required to be licensed or registered but operating without proper authorization is identified as which of the following?
• How many days must a licensee notify the Department in writing for changes such as name, address, phone number, or email?
• Which statement describes the penalties for non-compliance with compulsory insurance requirements?
• Which factor is used to rate homeowners policies?
• When Crime Insurance is written as a package policy, it is bundled with which coverage?
• Ethics in claims handling primarily concerns which of the following?
• Medical Payments coverage generally pays for expenses incurred within how long after the incident?
• Sam is an owner and not insured for PIP. Sam borrows Fred's car, which is insured for PIP. Sam has an at-fault accident when he strikes Betty's car. Betty is insured for PIP. As a result of Sam's negligence, Betty is injured and has $5,000 in medical bills. Which of the following is true?
• Which statement best describes who administers insurance laws?
• What is the deductible for a Personal Articles Floater (PAF)?
• Under Other Structures, which items are commonly covered?
• Bob has a basic health insurance policy. He has a covered accident in which he suffers an injury to his mouth that requires dental treatment. Which of the following is true?
• Which HO form covers a condo owner?
• Which bond is used to guarantee bid submission on a project?
• Which territory is typically covered under a standard CGL policy?
• All of the following are among the broad classes of Ocean Marine Insurance, EXCEPT:
• Which action would likely lead to license suspension?
• Susie is driving down the street when a dog runs in front of her car. She swerves to avoid the dog and hits a tree. This is an example of?
• Which term describes economic losses that result from a direct loss, such as lost income?
• Estoppel is best described as which of the following?
• An untrue statement by the insured in an application that does not become part of the policy is known as a ...
• Which form insures buildings under construction?
• Which statement about the no-fault law is true?
• If a company wishes to cancel its policy, how many days of prior notice must be given?
• Mr. Smith buys two CGL claims-made policies with retroactive dates 1-1-04 and 1-1-05. An accident occurs 7-1-04 and the claimant files this injury 9-1-05. Which policy covers?
• The Builders Risk Coverage Form assumes which coinsurance provision?
• What is the purpose of the Personal Auto Policy?
• Which coverage would pay in a case where a check is altered and cashed for $2000?
• If the insured occupies his principal residence 80% of the year and suffers a flood loss, at which settlement method would the loss be paid?
• The automatic broadening of coverage with no additional premium is known as what principle?
• Which organization replaced FRP&CJUA and Florida Windstorm?
• What percentage of gross income is reimbursed under PIP Work Loss benefits?
• If a policy includes PIP, which statement best describes its coverage for medical expenses and lost wages?
• Which of the following is not a duty of the claims adjuster?
• Which organization is the residual market source for auto insurance in Florida?
• In which situation would Joe have PIP benefits available to him?
• The principle that ensures claims are settled without allowing the insured to profit from the settlement is called?
• Do legal defense costs count toward the liability limits in a PAP claim?
• The failure of the insured to reveal relevant facts known to the insured in applying for insurance is called ...
• Government Crime forms are tailored for insuring which type of entities?
• Intentionally Injury: Which describes the coverage exclusion?
• Funds Transfer Fraud coverage is designed to cover losses due to fraudulent transfer of funds through which means?
• The Civil Remedies Provision states adjusters should not?
• All of the following are characteristics of an insurance contract EXCEPT?
• What term describes the process of disposing of an insurance claim?
• Which policy type is designed to provide liability protection beyond the limits of homeowners and auto policies?
• What is covered under Lesses of Safe Deposit Boxes coverage?
• Which of the following descriptions best matches the waiting period before workers' compensation benefits begin after an injury?
• Which of the following is not a Peril of the Sea?
• Under Instrumentalities of Transportation and Communication coverage, all of the following are covered EXCEPT:
• Which loss settlement provides new for old?
• Dan has a PAP with 10/20/10 and basic PIP with a $1,000 deductible. He is struck by a car; medicals are $7,500 and lost wages $1,000; He dies. How much will PIP pay?
• An adjuster is required to notify a claimant when a claim is denied. The notification must be?
• In an insurance contract, the value exchanged to form the agreement is called?
• Liquor Liability: In which scenario is liability excluded?
• In Boiler and Machinery coverage, which statement correctly defines an accident?
• Which endorsement covers damage to aircraft while stored in a hangar?
• Salvage refers to which of the following in relation to motor vehicles or mobile homes?
• Florida workers' compensation is regulated by which division?
• Betty must use her own PIP to pay her medical bills. This statement describes how medical expenses are handled in a not-at-fault situation. Which option best reflects this?
• A homeowner could not find coverage on the open market and looked to the residual market for coverage. What Joint Underwriting Association would handle this risk?
• Which practice is described as telling an applicant that a coverage is legally required when it is not?
• What is the purpose of the Value Reporting Endorsement?
• Joe wrote a policy through the Florida Automobile Joint Underwriting Association, and the company issued the policy. What is the company issuing the policy called?
• How is funding determined for Tier Three employers?
• Which of the following describes a covered leasehold interest under the Leaseholder Interest Coverage Form?
• Employee Theft coverage protects against losses caused by which party?
• Which policy type is designed to cover both property and liability in a single contract, aimed at reducing underwriting expenses?
• The coverage territory for Personal Inland Marine Insurance (PAF) is:
• Which term describes something that increases the probability that a loss will occur?
• Safe Depository coverage protects the named insured's legal liability when acting as a safe depository for customers' property. Perils covered include which of the following?
• In a third-party claim, who is filing the claim?
• Which factor is not used to determine trucker insurance premiums?
• What must you have to be authorized to transact insurance business in Florida?
• According to Client's Property coverage, the insured provides protection for property that is not owned by the insured but on the premises of a client. Whose property is protected?
• Which category of benefits includes payments to dependents after a worker's death?
• Which losses are covered by Commercial Property Insurance (as described)?
• In the Florida Automobile Joint Underwriting Association, the policy is issued by which type of carrier?
• Hurricane insurance in coastal Florida is commonly written with which type of deductible?
• Under Business Income Coverage, the period of restoration begins after how many hours after the date of direct damage?
• Occurrence is defined as which of the following?
• Bond underwriting usually looks at the three C's which include all of the following, EXCEPT:
• Which of the following is not a requirement to qualify for the FWCJUA?
• A Florida claims adjuster relocates to a new city within the state. What is the required time frame to report the change to FLDFS?
• The Nuclear Endorsement excludes hazards related to which item?
• Which of the following is a component of a Personal Auto Policy Declaration Page?
• Which statement accurately describes PIP within Florida's no-fault system?
• The Nuclear Endorsement excludes all hazards related to which of the following?
• Known Loss endorsement prevents coverage if the insured knew the loss was probable at the time the contract was issued. Which statement best reflects this rule?
• Which form among the listed General Liability forms is specifically abbreviated as OCP?
• Joe pays his health insurance premium on a monthly basis. If he forgets to pay this month's premium, how long will the policy remain in force after the premium date?
• What is the function of the insurance department?
• The Liberalization clause in a homeowners policy provides which of the following?
• Which statement best describes how a claims-made form applies to bodily injury or property damage (BI/PD)?
• A policy condition that guarantees a fact is called a ...
• If a CGL has an Occurrence form dated 1-1-03 and a Claims-Made form dated 1-1-04, and an injury occurs on 8-1-03 and is filed in 2005, which policy covers?
• An health insurance policy that prevents cancellation during the policy period, but reserves the right of the insurer to non-renew the policy once it expires is an example of:
• Under Part One of the WC policy, what is the limit for recovery of medical bills incurred by an employee as a result of work-related injuries?
• Which practice misleads customers by claiming a coverage is legally required to induce a sale?
• When a community applies for flood coverage, until approved they are under which program?
• Who are the three parties typically involved in a surety bond?
• The All Lines Claims Adjuster 6-20 is responsible for which activities?
• Liability Insurance is defined as payment on behalf of the insured to another, based on the insured's liability to the recipient. Which option matches this definition?
• Which coverage specifically addresses the demolition or reconstruction requirements imposed by building codes, including when undamaged portions must be removed?
• Loss Sustained coverage includes what condition?
• Under Securities Deposited with Others coverage, which property is protected?
• Which license category is authorized to transact Auto insurance in the office only?
• What is the purpose of the Mortgagee Clause in a property policy?
• Which term refers to a policy condition that guarantees a fact, possibly based on information in the insured's application?
• Which of the following best describes an Occurrence in policy terms?
• When a driver borrows a neighbor's trailer and has an accident, which description best describes the insured's coverage under the PAP?
• Replacement Services under Basic PIP are paid at what percentage?
• An employee altered and cashed a check for $2000. The loss is payable under which insuring agreement?
• What is an appointment in insurance terms?
• Under a PAP, when does the insurance company cease to defend the insured?
• Which maritime term describes the practice of throwing cargo overboard to save a distressed vessel?
• Retroactive Date establishes the original policy date for which type of policy?
• A Mechanical Breakdown Policy on a car with an odometer reading 40,000 experiences a serious transmission failure after the breakdown; how does the policy respond?
• SR-22 is best described as which type of policy?
• In addition to medical and disability benefits, the PIP death benefit is set at what amount?
• In Boiler and Machinery insurance, an accident is defined as:
• Which of the following is typically required to obtain a permit for a construction project?
• Errors and Omissions claims are a result of?
• Which term best fits the description of persuading an applicant to replace an existing policy primarily to earn higher commissions?
• Under the Business and Personal Property Coverage Form, suspension for certain perils applies after how many days of vacancy?
• All of the following are true concerning Joint Underwriting Associations, EXCEPT:
• Under PAP, is damage to property owned by the insured typically covered?
• Under Medicare Supplement insurance, the maximum waiting period before coverage applies to pre-existing conditions is:
• PIP Medical benefits cover which categories of expenses?
• Which form insures the automobile exposures of all businesses other than garage or trucking businesses?
• Under Workers Compensation, what is the waiting period for disability benefits to begin?
• Coverage A refers to which insuring agreement?
• If a worker dies from a work-related injury, the death benefit payable to eligible dependents is capped at which amount?
• Jettison is defined as?
• In Florida terminology, a foreign company is chartered outside which jurisdiction?
• Which misrepresentation tactic involves stating that a legal requirement exists for an ancillary coverage?
• A house under construction is eligible for a Homeowner Policy if which statement is true?
• The term ethics refers to?
• On the way to the bank to make a deposit, an employee loses the bank bag. How is this money covered?
• An organization that provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium is:
• Which organization serves as the residual market for auto insurance in Florida?
• What does the abandonment clause prohibit?
• Which statement best describes coinsurance in a property policy?
• What is the purpose of the Business Auto Policy?
• Junk is defined as what in relation to motor vehicles or mobile homes?
• What is a foreign insurance company?
• A contract condition of the Homeowners policy which provides that the insured gets the benefit of broadened coverage if the company adopts a broader form without an increase in premium is:
• Section 624.155 of the Florida Statutes provides which remedy?
• The adjuster's investigation is limited to which description?
• Which is not a fiduciary responsibility of a claims adjuster?
• Valuation: Other property is valued at which amount?
• A company was incorporated in Massachusetts and has their home office in that state. What type of company is this when they do business in Florida?
• The Builders Risk coverage form covers:
• If an adjuster terminates their insurance appointment, how long from the date of the termination do they have to reactivate their appointment?
• Estoppel is described as an equitable principle for what scenario?
• Which practice involves offering refunds or premium payments to influence the purchase of a product?
• If an insured has $100,000 of unstacked UM coverage with three cars on the policy, how much is available under a UM claim?
• Binder: What describes its function?
• Which statement best describes the components of effective claim communications?
• Which group is typically excluded from Medical Payments coverage under a CGL policy?
• Which bond guarantees performance in conformity with the law?
• Which practice is described as part of the Florida Unfair Insurance Trade Practices Act?
• Which statement best describes an adjuster's fiduciary duty?
• Which of the following is NOT a component of the investigation process?
• A Dwelling Policy has Coverage A limit of 40,000. A covered loss totals the dwelling and a detached garage; the garage sustains 6,000 in damage. How much will be paid for the loss?
• Which statement best describes Health Maintenance Organization (HMO)?
• If a Florida adjuster changes address, to which agency must the change be reported within the prescribed period?
• Which term among the following is used to describe misrepresenting the legal requirements for a coverage to influence a purchase?
• For flood coverage when flooding is confined to one area, how many acres must be covered?
• Bill sent a cashier's check through the mail, but it never arrived at the destination of the recipient. Under which bond can the cashier's check be replaced?
• Joe is injured when the jack slips as he is changing a tire in his driveway. The ER bill is $450. Where will Joe go first to collect for his medical expenses?
• What does the Principle of Utmost Good Faith require in an insurance contract?
• Which form is used to insure businesses that are hired to transport goods for someone else?
• Special types of vehicles listed under the Business Auto Policy include which of the following?
• Which of the following is not one of the duties of the Florida Department of Financial Services?
• Which is not a requirement for licensure as an adjuster?
• The chance of financial loss is known as?
• Which type of property is covered under Clients Property?
• Which of the following forms is one of the General Liability Insurance Forms?
• A statement in an application that is untrue but does not become part of the policy is known as ...
• Who must initiate changes to an insurance policy, and in what form?
• Describe a franchise deductible.
• Failure to inform the Department of Financial Services within 30 days after pleading guilty to a felony results in which action?
• The insurer’s defense obligation ends when which occurs?
• Under Basic PIP, Medical benefits cover what percentage of reasonable expenses?
• Which of the following are available as HO hurricane deductibles?
• The coverage that extends liability when a driver uses a company car is called?
• Medical Payment coverage pays up to the stated limit per which unit?
• What does ACV stand for?
• Safe burglary is defined as:
• Acme Toys has a CGL policy. They hold a party and one of the guests has a little too much to drink. If the guest injures someone and the injured party sues the Acme Toys, the CGL policy:
• Employee Injuries: Which liabilities are excluded?
• Under an HO-3 policy, if Coverage A is $250,000, Coverage B is:
• In the theft scenario, the payout equals the market value at the time of loss, which was $162,000. Which option represents this payout?
• Extortion coverage applies to property surrendered away from the premises as a result of a threat to do bodily harm to whom?
• Unethical behavior affects whom according to the material?
• If an insured sells his house to another person, the buyer is prohibited from receiving the seller's insurance policy because insurance is a contract of which nature?
• Securities were stolen and later valued; what would be paid?
• Which action is a stated reason for suspension, revocation, or termination of a license?
• What does the Georgia minimum 20/40/10 represent in bodily injury and property damage terms?
• In a claims-made policy, the retroactive date determines the earliest date from which claims can be paid.
• A driver has a PAP with a single liability limit of $50,000. If a pedestrian BI is $37,000, a display window is $3,000, a sports car is $10,000, and legal defense costs are $1,500, how much would the policy pay for the total loss?
• What does the retroactive date in a Claims-Made CGL policy establish?
• What condition must be met in a HO Policy for replacement cost to settle the loss?
• Which of the following is NOT a basic activity in claims handling?
• Which adjuster is an employee or agent of an adjustment bureau serving multiple company clients?
• Who does the adjuster represent when they are working on a claim?
• A Customer Representative 4-40 must be licensed, appointed by a General Lines Agent, and may assist in transactions where?
• A claim is made under a CGL for a slip and fall injury. Two years later the injured person comes back saying the injury has flared-up. Is the reoccurrence covered under CGL Medical Payments?
• Which endorsement would be most applicable to farm operations needing coverage for employment-related injuries or disputes?
• What does Computer Fraud coverage primarily protect against?
• Which statement about Computer Fraud coverage geographic scope is correct?
• Under the Florida Valued Policy Law, when a dwelling is totally destroyed and the policy limit is $200,000, the insurer must pay?
• All of the following UM options are available to an insured, EXCEPT?
• Which term describes a company chartered in another country?
• The coverage that provides Liability, Medical Payments and Uninsured Motorist for a named individual who does not own an automobile is?
• Which document is used to protect a lender’s financial interest in insured property?
• Two sets of golf clubs are stolen from Tommy's car while visiting; which policy covers Chris' clubs?
• Which element is typically listed in the Declarations section of an insurance policy?
• Implied Waiver is best described as:
• Which of the following is not a covered territory for a CGL policy?
• The Division of Workers' Compensation is within which Florida department?
• Under a Dwelling Policy, all of the following are eligible, EXCEPT which?
• Which of the following is a basic claim activity of an adjuster?
• The concept that one should not profit from the payment provided by an insurance policy is known as?
• Coverage B refers to which type of coverage?
• Which statement best defines Insurance in the material?
• Professional Liability Coverage covers liability arising from what?
• Which of the following are part of an insurance policy?
• What describes a Domestic Insurer based on its formation?
• The address-change notification requirement is associated with which state agency?
• Who guarantees the principal's obligation in a bond?
• Which scenario is covered by the Custom Farming Endorsement?
• When the insured transfers his/her rights to collect for damages to the insurer, it is known as?
• Which Commercial Inland Marine policy covers shipments on a single-trip basis?
• Fiduciary Agent is defined as which kind of relationship?
• PPO stands for a group that is formed to reduce medical costs. Which option correctly describes it?
• Which form is NOT a General Liability Insurance Form?
• A General Lines Agent 2-20 is licensed to write which types of insurance?
• Which form covers products and completed operations?
• Which statement correctly describes Junk in the given material?
• Accident is defined as which of the following?
• Joe is off the job for 27 days due to a work related injury. Joe can receive WC benefits for how many days?
• Homeowner policies are rated on all of the following, EXCEPT:
• Physician, Surgeons and Dentists Insurance covers which of the following?
• Which term is described as a temporary contract until the policy is issued?
• Which statement best describes the Coverage A insuring agreement?
• Which CE requirement applies to a General Lines Adjuster?
• An adjuster moved from one Florida city to another. By when must she notify the Florida Department of Financial Services (FLDFS) of her new address?
• Which of the following is a threshold of the No-Fault Law?
• Under Florida law, settlements of third-party liability claims involving an injured minor can be reached with both parents if the amount is not more than how much?
• If an insurance policy is unclear or ambiguous, in whose favor does the policy respond?
• FAJUA stands for Florida Automobile Joint Underwriting Association.
• Which practice commonly involves initiating policy changes to generate increased compensation?
• What defines a Public Adjuster?
• In the Commercial General Liability contract, which type of coverage form can be used?
• Which scenario would be paid from the other-than-collision portion of auto insurance?
• Property Covered defines what property is eligible for coverage?
• An employee is injured on the job and is out of work for 10 days. How many days' wages can this employee recover?
• Which form provides Liquor Liability Coverage?
• Which endorsement is primarily used to protect a mortgagee's financial interest in the insured property?
• In a flood loss scenario where the insured's principal residence is occupied 80% of the year, which settlement method applies?
• Which statement best describes the set of basic forms in the Commercial General Liability policy?
• If Jim has Extended PIP and incurs $4,000 in medical expenses and $4,000 in lost income, how much will his insurance pay?
• Adjusters should advise claimants on?
• Which of the following best describes the purpose of Professional Liability coverage?
• In a property policy, what does the term exclusions refer to?
• Which adjuster is self-employed and compensated on a fee-plus-expenses basis for each loss handled?
• When two or more policies apply to the same loss, the one that pays first is called?
• Which statement describes a Contract of Indemnity?
• The continuing education requirement to maintain an adjuster's license in Florida is:
• An insured has $200,000 Coverage A dwelling coverage, under his HO-3 Policy. He incurs the following damage from a covered peril: fence 5,000; gazebo 7,500; tool shed 15,000. What will his HO Policy pay?
• The deductible is defined as which of the following?
• Bill misses 14 days of work due to a work-related injury. How long must he wait before starting WC benefits?
• A building vacant for 75 days; which peril is covered?
• What is the amount for medical and disability benefits afforded by PIP?
• Outdoor equipment used to service the premises is covered under which coverage?
• In the context of auto coverage, other than collision refers to damages such as hail or theft that are not caused by a collision. This is categorized as?
• Securities Deposited with Others coverage protects losses of securities deposited with what type of third party?
• Which statement about Joint Underwriting Associations is true?
• A company had its certificate of authority revoked because of bad sales practices. This type of company is known as:
• An employee injures their foot because they are not wearing safety shoes while in the plant. Benefits would be reduced by what percent?
• Which exposure does the Farm Liability Coverage Form cover?
• If both the Condominium Association Coverage form and the Condominium Unit Owners Coverage form cover a loss, which is true?
• Which describes a Guaranteed Renewable Policy?
• Fiduciary Agent is best described as what?
• What is Actual Cash Value (ACV) defined as?
• Under a Dwelling Policy, which dwelling type is not eligible?
• What does subrogation allow an insurer to do after paying a claim?
• A house under construction is eligible for a Homeowner Policy if which condition is met?
• What must the owner and operator provide to demonstrate financial responsibility for future accidents?
• Guests' Property coverage protects the named insured's liability for a guest's property under which conditions?
• A Loss Payee Clause provides that payment will be made to which party upon a covered loss?