Download Insurance Claims Adjuster Assessment Questions and Answers and more Exams Nursing in PDF only on Docsity! FL All Lines Claims Adjuster Assessment Questions with Answers What is an eligible building for flood insurance? - Correct Answers A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage? - Correct Answers Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A? - Correct Answers No, HO-4 (Renters personal property) What is casual labor in workers' compensation? - Correct Answers Labor that is casual, irregular, limited or temporary purpose. What is the waiting period for worker's compensation disability? - Correct Answers 7 days prior to the payment of disability benefits. If a disability lasts more than 21 days, benefits will be paid from the first day of injury. What are the parties to a surety bond - Correct Answers Principle, Oblige, Surety, and Inseminator How does a crime policy value money and securities? - Correct Answers Money is valued at face value. Securities are valued on the day the loss was discovered. How is the employee theft coverage written? - Correct Answers Scheduled person’s coverage, Scheduled position coverage, and blanket coverage What is the deductible in an umbrella policy? - Correct Answers No deductible, this is liability coverage What are the types of Health Insurance? - Correct Answers HMO and PPO What is the limit of medical expenses in workers' compensation? - Correct Answers There is no limit What does workers' compensation provide for funeral expenses? - Correct Answers If death results within one year of an accident, or follows a continuous disability within 5 years, then actual funeral expenses, not exceeding $7500 What is Ocean Marine coverage? - Correct Answers Oldest form of insurance known. Covers perils associated with water transport. What is Inland Marine Coverage? - Correct Answers Covers the cargo traveling overland, instead of by sea. What is "all risk" coverage in a homeowner’s policy? - Correct Answers Property insurance covering loss arising from any fortuitous cause except those specifically excluded If you know how much Coverage A is in a Homeowners' policy, do you know how much Coverage B and C would be? - Correct Answers Coverage B is automatically 10% of A and Coverage C is normally 50% of A. When is PIP available to the insured? - Correct Answers PIP is available to an insured while occupying a motor vehicle or while injured as a pedestrian in the state of FL How does PIP deductible work? - Correct Answers If an insured selects a deductible than that amount is always taken off the loss, even if it’s more than the PIP limit. What does occupying mean in regard to auto? - Correct Answers means in, upon, getting in, on, out, or off of a vehicle In which coverage is the insurance company's promise to defend the insured? - Correct Answers Liability Coverage What is excluded from auto liability coverage? - Correct Answers intentional injury or damage, property owned or being transported by the insured, injuries to an employee while on the job, using a vehicle without the reasonable belief of permission. Vehicle with less than 4 wheels Bodily Injury - Correct Answers means physical harm and includes sickness, disease or death resulting from that physical harm. What vehicles are covered by a auto liability insurance? - Correct Answers Restricted to 4-wheel private passenger vehicles that are owned by the insured. What does the Miscellaneous Type Vehicle endorsement cover? - Correct Answers covers equipment such as motor-homes, motorcycles, golf carts and all-terrain vehicles. What coverage does Garage Insurance provide? - Correct Answers specifically designed for those in the business of selling, servicing, repairing, or parking automobiles.
