Florida Claims Adjuster Exam, Exams of Nursing

Download Florida Claims Adjuster Exam and more Exams Nursing in PDF only on Docsity! FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - CORRECT ANSWERS D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is made by the insurer and it is up to the additional interests on working out their share. Insurance applies separately to each insured as if other insureds did not exist. This is defined as: A. Severability B. Conditional C. Warranty D. None of the above - CORRECT ANSWERS A. Severability Property insurance policies usually contain a(n) __________ clause, stating the insured cannot dump damaged property on the insurer and demand its full value: A. Pro Rata FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ B. Abandonment C. Liberalization D. All of the above - CORRECT ANSWERS B. Abandonment A(n) __________ is one wherein economic loss would be suffered from an adverse happening to the subject: A. Conditional Contract B. Personal Contract C. Economic Contract D. Insurable Interest - CORRECT ANSWERS D. Insurable Interest States that if the insurer adopts a revision which would broaden coverage without additional premium within some period of time prior to the policy period or during the policy period, the insured receives the benefit of such broadened coverage. A. Cancellation Clause B. Policy Period C. Pro Rata D. Liberalization - CORRECT ANSWERS D. Liberalization The time frame is typically 60 days. FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ "may be conditioned" Which of the following is not one of the "Thresholds" in the "No-Fault" law? A. Death of the Insured B. Temporary Injury of the Insured C. A permanent loss of a bodily function D. Permanent scarring on the face of the insured - CORRECT ANSWERS B. Temporary Injury of the Insured Also included: permanent injury other than scarring and disfigurement Under Mechanical Breakdown Coverage, new cars are eligible for service up to: A. 36 Months/36,000 Miles B. 24 Months/36,000 Miles C. 12,000 Months/12,000 Miles D. 12 Months/36,000 Miles - CORRECT ANSWERS A. 36 Months/36,000 Miles Used vehicles: 12 Months/12,000 Miles If financial responsibility doesn't exist at the time of an accident, which of the following things must happen to avoid penalties? FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ A. The legally valid claims of others must be satisfied (up to 10/20/10) B. The owner and operator must provide certification of future responsibility for future accidents C. Both A & B D. None of the Above - CORRECT ANSWERS C. Both A & B As to required proof for future accidents by purchase of auto liability insurance, the insurer must make a filing (Form SR-22) certifying that coverage is in effect, and this certification must remain on file for __________ years: A. 1 B. 3 C. 4 D. 2 - CORRECT ANSWERS B. 3 The Business Automobile Policy includes all of the following coverage forms except: A. The Garage Coverage Form B. The Trailer Interchange Coverage Form C. The Truckers Coverage Form D. The Business Auto Coverage Form - CORRECT ANSWERS B. The Trailer Interchange Coverage Form FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Personal Injury Protection, or PIP, has a __________ per person, per accident limit. A. 10,000 B. 20,000 C. 1,000 D. Depends on the damaged property - CORRECT ANSWERS A. 10,000 Used to insure businesses engaged in selling, servicing, repairing, parking or storing automobiles: A. Servicing Coverage Form B. Garage Coverage Form C. Truckers Coverage Form D. None of the Above - CORRECT ANSWERS B. Garage Coverage Form The following examples are referred to as __________ liability limits: 25/50/25 or 10/20/10. A. Split B. Single C. Straight FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ A lender has an insurable interest in a home and finds protection in the: A. Loss Payee Clause B. Mortgagee Clause C. Lender Clause D. Additional Insured Clause - CORRECT ANSWERS B. Mortgagee Clause Mortgagee - Homeowner's policy Loss Payee - Automobile policy Which of the following forms is "all-risk" on the dwelling policy? A. DP-1, or the Basic Form B. DP-2, or the Broad C. DP-3, or the Special Form D. None of the Above - CORRECT ANSWERS C. DP-3, or the Special Form When the basic liability limits provided by the policy are insufficient for an insureds needs, two coverage forms are used to provide the additional amounts of coverage: A. Excess Liability FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ B. Umbrella C. Both A & B D. None of the Above - CORRECT ANSWERS C. Both A & B Which of the following is not covered under Coverage C, Personal Property? A. A fire breaks out in the residence and an overnight guest loses his clothes in the fire B. A fish dies because he has been left alone for a week without food C. The insureds daughters tennis racket is stolen from her locker D. The insureds suitcase and clothing, valued at $1,500, are stolen from his hotel - CORRECT ANSWERS B. A fish dies because he has been left alone for a week without food Animals are listed as an "exclusion" under a Homeowner's policy. All of the following are eligible for a Homeowner's Policy, except? A. An apartment tenant B. A condominium owner C. Four-family dwelling owner-occupant D. A business condo owned by a local insurance company - CORRECT ANSWERS D. A business condo owned by a local insurance company FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Commercial property is not eligible for a Homeowner's policy. Which of the following are characteristics of Homeowner's Insurance? A. Protects against economic loss to residences and household property and legal liabilities B. Owner-occupants of 1-4 family dwellings C. Renters who maintain residential occupancy in any type of building D. All of the Above - CORRECT ANSWERS D. All of the Above Also included: personal, non-business risk, no more than 2 roomers/boarders, condominium unit owners and cooperative apartment occupants Jeremy owns a home that is recently damaged due to a hurricane. The repair estimate is averaged at $25,000 and Jeremy decides to stay in a hotel because most of the damage is to his bedroom and kitchen. Under a Homeowner's Policy, what coverage will pay for the hotel room bill? A. Fair Rental Value B. Value Obligation C. Loss of Use D. Insurers Duties - CORRECT ANSWERS C. Loss of Use FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Sometimes referred to as commercial fire and allied lines, this is the form of insurance that covers direct and indirect losses related to properties other than one-to-four family dwellings and farm properties: A. Business Property Insurance B. Building Property Insurance C. Commercial Property Insurance D. None of the Above - CORRECT ANSWERS C. Commercial Property Insurance (the question is the definition for this term) Under Commercial Property Policies, Florida law requires an insurer to give the insured at least __________days advance written notice of non-renewal. A. 25 B. 90 C. 45 D. None of the Above - CORRECT ANSWERS C. 45 Also, notice must state reasons the policy is not to be renewed. When a business's personal property values fluctuate, a single, fixed amount of insurance could produce either over- or under-insurance at FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ any given time. With this option, the limit of coverage is set at an amount somewhat higher than expected peak values. A. Value Reporting B. Replacement Cost C. Agreed Value D. None of the Above - CORRECT ANSWERS A. Value Reporting Replacement Cost is incorrect b/c it calculates monetary value of one's personal property Liberalization states, "The insured gets the benefit of any broadened coverage if the company, within __________ days of inception, adopts a form revision that is broader and without increase in premium." A. 10 days B. 55 days C. 65 days D. 45 days - CORRECT ANSWERS D. 45 days Used to cover buildings in the course of construction: A. Builders Risk Policy B. Builders Replacement Policy C. Construction Replacement Policy FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ D. None of the Above - CORRECT ANSWERS A. Builders Risk Policy Includes: structure being built (including foundations), fixtures and machinery, equipment to service building, owned materials and supplies used for construction. Temporary structures built or assembled on site are also included if not covered by insurance. First developed as an extension of Ocean Marine coverage, to provide coverage for cargo traveling over land, instead of by sea. A. Commercial Inland Marine Coverage B. Personal Inland Marine Coverage C. Ocean Commercial Coverage D. None of the Above - CORRECT ANSWERS A. Commercial Inland Marine Coverage Definition: to help identify kinds of risks which are eligible for either Ocean or Inland Marine insurance. Protects against loss of business income that results from damage to covered property from a covered cause of loss. A. Business Income Insurance Coverage B. Business Income Replacement Coverage C. Business Income Actual Value Coverage FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ D. A Percentage Ratio - CORRECT ANSWERS C. 0% Under a Commercial General Liability Policy, a basic limit of __________ per person applies to Medical Payments: A. $1,000 B. $10,000 C. $2,500 D. $5,000 - CORRECT ANSWERS D. $5,000 Payment is for medical, dental, hospital, and funeral services incurred within one year of date of accident to persons who suffer bodily injury by accident 1. on or next to insured's owned or rented premises, or 2. due to insured's operations. The Commercial General Liability __________ identifies the named insured and address, states the policy period and premium and miscellaneous information about the insured, and specifies the limits of coverage that apply. A. Declarations B. Contract C. Policy D. None of the Above - CORRECT ANSWERS A. Declarations States the pertinent information of the policy FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ The Nuclear Energy Liability Exclusion endorsement, in general, __________ all hazards related to nuclear energy. A. Includes B. Excludes C. Prohibits D. Summarizes - CORRECT ANSWERS B. Excludes Firms involved in Nuclear activities receive protection from special insurer pools organized for that purpose. Toxic wastes escaped from a gas station disposal tank. The insured operator discovers the leak and cleans up the spill. Unfortunately, the waste quickly seeped into the ground and has caused illness among the residents of a neighboring community This is an example of? A. Loss Known B. Known Loss C. Claims-Made D. None of the Above - CORRECT ANSWERS B. Known Loss Insurer should have been notified and further investigation of the spill and effective clean-up would have been observed. FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Applies to BI or PD which occurs during the policy period, regardless of any later time at which a claim is made: A. Occurrence Form B. Claims-Made Form C. Premises and Operations Exposure D. None of the Above - CORRECT ANSWERS A. Occurrence Form vs. Claims-Made: applies only to BI or PD occurring on or after retroactive date for which claim is received/recorded during policy period Applies only to a BI or PD which occurs on or after the retroactive date, and for which the claim is received or recorded by an insured or the company during the policy period: A. Occurrence B. Claims-Made C. Operations Completed D. None of the Above - CORRECT ANSWERS B. Claims-Made Retroactive date is stated in Declarations and will normally be same date as issuing company's first claims-made effective date for insured. All of the following are components of Workers Compensation, except: A. Up to $750,000 in Death Benefits FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Under Workers Compensation, Part Four Your Duties if Injuries Occur, an employer is required to: A. Provide the names/addresses of injured persons and witnesses B. Promptly provide any legal papers C. Cooperate and assist as insurer requests D. All of the Above - CORRECT ANSWERS D. All of the Above Also included: immediate contact with insurer, providing immediate medical or other services, do nothing to interfere with insured's right of recovery, make no voluntary payments or assume any obligation except at employer's own cost. Under Workers Compensation, Employers Liability includes: A. Claims by others for the liabilities to insureds employees B. Claims by relatives of injured employees for consequential damages C. Claims made by employees that are not subject to Workers Comp Laws D. All of the Above - CORRECT ANSWERS D. All of the Above Samantha eats uncooked chicken at a local barbecue joint and becomes violently ill. Which of the following workers compensation benefits would pay for this occurrence? FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ A. A products and completed operations form B. A premises and operations form C. An owners and contractors protective liability form D. None of the Above - CORRECT ANSWERS D. None of the Above Samantha is not an employee of the barbecue joint; Workers Comp does not apply. An optional alternative providing for adjustment of premium after expiration, based on a guaranteed basic premium to the insurer to which is added the actual losses incurred by the insured. This is defined as: A. Cost-Plus Rating Plan B. Experience Rating Plan C. Retrospective Rating Plan D. None of the Above - CORRECT ANSWERS C. Retrospective Rating Plan Often referred to as Cost-Plus Programs Under Employer's Liability, the minimum limits of liability are: A. 100/100/500 B. 100/500/1000 C. 500/100/500 FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ D. 100/500 - CORRECT ANSWERS A. 100/100/500 $100,000 for all claims in each accident $100,000 per employee for disease $500,000 for all disease claims Under Inside The Premises - Robbery or Safe Burglary of Personal Property, a special limit of __________ per occurrence applies to articles whose principal value is precious metals, precious or semiprecious stones, pearls or furs, and to the physical or intrinsic value of manuscripts, drawings or records: A. $1,000 B. $2,000 C. $4,000 D. $5,000 - CORRECT ANSWERS D. $5,000 Under Crime Insurance, losses must be discovered within 1 year. This is defined as: A. The Discovery Period B. The Loss Sustained Period C. The Open Period D. All of the Above - CORRECT ANSWERS A. The Discovery Period FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ C. Care, Custody, & Control D. None of the Above - CORRECT ANSWERS B. Outside the Premises Also covers robbery of other property under the circumstances. Taking or attempted taking of property from within a locked safe or vault, by unlawful entry, with visible marks of forcible entry, or taking of the safe or vault from inside the premises. This is defined as: A. Safe Burglary B. Inside the Premises C. Custodial Burglary D. None of the Above - CORRECT ANSWERS A. Safe Burglary Exclusions: accounting errors, giving/surrendering property, voluntarily parting, fire (except damage to safe/vault), vandalism, transferring property to someone based on unauthorized instructions or from threat to harm Covers for all types of property, when surrendered away from the premises as a result of a threat to do bodily harm to the insured or an employee, or to a relative or invitee of either, who is (or allegedly is) being held captive. This is defined as: A. Extortion B. Surrendered Property FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ C. Client's Property D. None of the Above - CORRECT ANSWERS A. Extortion Also triggered by threats to damage the premises or property within the premises. Employee Theft Coverage may be written in the following ways: A. Scheduled Persons Coverage B. Scheduled Position Coverage C. Blanket Coverage D. All May Apply - CORRECT ANSWERS D. All May Apply Employee Theft may be written in three ways. Which of the following are NOT a type of bond? A. Contract B. Fiduciary C. Court D. Apprentice - CORRECT ANSWERS D. Apprentice Contract - fulfill obligation Fiduciary - make good to court for any deficiencies found in performance Court - protect opposing party from loss FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Which of the following are characteristics of a License Bond? A. To guarantee the licensee will act according to laws B. Protect public from unfair business practice C. Proper collection and payment of taxes D. All of the Above - CORRECT ANSWERS D. All of the Above Guarantees the performance between the principle and the obligee: A. Principal B. Obligee C. Surety D. All of the Above - CORRECT ANSWERS C. Surety aka Bonding Company; Surety is a "guarantee" This bond guarantees indemnification to the obligee for any losses resulting from the principal's failure to complete the contract work in accord with specifications: A. Performance B. Bid C. Court D. Maintenance - CORRECT ANSWERS A. Performance FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ C. Supply D. None of the Above - CORRECT ANSWERS B. Subdivision Falls under Maintenance Bond When a person has lost stock certificates, bonds or similar instruments, a bond is generally required by the issuing company to reissue the document. This is known as a: A. Public Official Bond B. Lost Instrument Bond C. Public Instrument Bond D. None of the Above - CORRECT ANSWERS B. Lost Instrument Bond Also guarantees to save issuer from any loss growing out of lost instrument A __________ is a selected group of hospitals and medical practitioners in a given area who have joined together in an effort to reduce medical costs. A. HMO B. Major Medical Insurance C. Coinsurance D. PPO - CORRECT ANSWERS D. PPO FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Most plans provide that emergency treatment will be paid even if treated party does not go to service provider on approved list. Define the coverage that pays a flat amount per day for hospitalization, regardless of expenses or other insurance: A. Hospitilization B. Hospital Indemnity C. Hospital Services D. All of the Above - CORRECT ANSWERS B. Hospital Indemnity This optional provision states that if the insured becomes totally disabled, premiums are waived but the coverage remains in force: A. Waiver of Subrogation B. Waiver of Premium C. Waiver of Value D. None of the Above - CORRECT ANSWERS B. Waiver of Premium "premiums are waived" Provides coverage for expenses, including loss of income, arising from an accident. This is defined as? A. Accident Insurance FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ B. Hospitilization C. Hospital Pay D. None of the Above - CORRECT ANSWERS A. Accident Insurance Typical exclusions would be: hernia, war, disease and bacterial infections, suicide attempts, air travel injuries, accidents while committing felony, accidents while under the influence This type of provision states the insurer can refuse to renew the policy only under certain conditions. The policy must state the conditions under which the policy will not be renewed. This is defined as? A. Conditionally Renewable B. Guaranteed Renewable C. Optionally Renewable D. None of the Above - CORRECT ANSWERS A. Conditionally Renewable vs. Optionally: company may not cancel during term but reserves right to non-renew upon expiration vs. Guaranteed: insurer required to renew policy at stated age (typically 65); company reserves right to increase premium The coverage that is intended to afford protection against catastrophic losses is defined as? FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Established in 1973, this association was created for applicants who are unable to obtain insurance in the private market: A. FWCJUA B. FWUA C. Citizens D. FRPCJUA E. FAJUA - CORRECT ANSWERS E. FAJUA In 2002, the Florida Residential Property and Casualty Joint Underwriting Association (FRPCJUA) and the Florida Windstorm Joint Underwriting Association (FWUA), were combined to create: A. FWCJUA B. FWUA C. Citizens D. FRPCJUA E. FAJUA - CORRECT ANSWERS C. Citizens Passed during a legislative session in 1993, this association was created for employers who cannot obtain workers compensation insurance in the private market: A. FWCJUA FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ B. FWUA C. Citizens D. FRPCJUA E. FAJUA - CORRECT ANSWERS A. FWCJUA A General Lines Agent instructs a licensed Customer Representative 4- 40 to thoroughly cover the details of a new life insurance product with every Homeowner customer who calls or visits the office. The agent provides training on the new product. Although the Customer Representative does not have a Life License, he or she feels comfortable with the training and does as requested. Which of the following is true? A. This practice is acceptable if done in the office under supervision of General Lines Agent B. This practice is acceptable because adequate training and product knowledge was provided C. This practice is unacceptable and may result in the suspension or revocation of the Customer Representative's license D. This practice is only acceptable if the product training was certified by the Life Insurance Company - CORRECT ANSWERS C. This practice is unacceptable and may result in the suspension or revocation of the Customer Representative's license FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Unlike a Customer Representative, a General Lines Claim Adjuster need not be appointed with the Department of Financial Services. A. True B. False - CORRECT ANSWERS B. False While selling an Automobile policy to a customer, an agent tells them that they are also required to purchase an Emergency Road Service Plan, even though that is not true. This is an example of: A. Misrepresentation B. Lack of Fitness C. Deception D. Sliding - CORRECT ANSWERS D. Sliding A licensed General Lines Claim Adjuster is required to complete how many hours of continuing education every two years? A. 6 B. 12 C. 18 D. 24 - CORRECT ANSWERS D. 24 FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ One who is involved in the investigation, adjustment, negotiation and/or trial preparations of claims arising under insurance policies is defined as: A. Insurance Agent B. General Lines Agent C. Claims Adjuster D. All of the Above - CORRECT ANSWERS C. Claims Adjuster Commonly referred to as claims auditor Establishing a dollar value on a claim is defined as: A. Negotiation B. Evaluation C. Adjusting D. None of the Above - CORRECT ANSWERS B. Evaluation For bodily injury and uninsured motorist claims, a settlement range will be set rather than a single dollar amount Damaged property that may be retrieved, reconditioned and sold to reduce an insured loss is defined as: A. Junk FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ B. Salvage C. Covered Property D. Peril - CORRECT ANSWERS B. Salvage Efficient disposal of salvage reduces amount of loss to either insured or insurer The voluntary or intentional relinquishment of a known right is defined as a(n): A. Waiver B. Estoppel C. Avoidance of Performance D. None of the Above - CORRECT ANSWERS A. Waiver The law recognizes two types: express and implied. The principle of utmost good faith on which an insurance contract is based places serious responsibilities on the claims adjuster in regards to: A. Conduct B. Work Habits C. Claim Handling Activites D. All of the Above - CORRECT ANSWERS D. All of the Above FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ The adjusters basic activities in claims handling are: A. Investigation B. Evaluation C. Negotiation D. All of the Above - CORRECT ANSWERS D. All of the Above Investigation - establish coverage, determine liability, verify damages qualify Evaluation - determine fair payment in accordance with contract and law Negotiation - settlement based on facts discovered during evaluation Under the Florida Unfair Insurance Trade Practices Act, penalties are provided for misrepresentation of business practices, which include all of the following except: A. Failing to act promptly B. Failure to explain claim denials in writing C. Denying claims with reasonable investigation D. Failure to maintain complaint handling procedures - CORRECT ANSWERS C. Denying claims with reasonable investigation FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ C. Claim D. None of the Above - CORRECT ANSWERS C. Claim Relieving the financial burden on the claimant by making certain payments to the claimant even before the claim can be negotiated is defined as: A. Advanced Payment B. Full Release Settlement C. Non-Advanced Payment D. Scheduled Payment - CORRECT ANSWERS A. Advanced Payment The process of disposing of an insurance claim is defined as: A. Adjusting B. Claims Management C. Adjustment D. None of the Above - CORRECT ANSWERS A. Adjusting Also "the negotiation period that results in an agreement" All of the following are requirements for the "Code of Ethics," except: A. Adjusters should not give legal advice FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ B. Adjusters may negotiate with a claimant who is represented by an attorney C. A witness who requests a copy of a statement given must be provided with one D. Adjusters will keep an unprejudiced and open mind - CORRECT ANSWERS B. Adjusters may negotiate with a claimant who is represented by an attorney Adjusters MAY NOT. Bad, adjuster, bad! A written statement given by the insured to the insurer acknowledging that money received in the settlement of damages is received, not as a final payment, but as an advance pending an outcome of a claim against the person responsible for the damage. This is defined as a(n): A. Loan Receipt B. Subrogation Loan C. Full Release Statement D. Partial Release Statement - CORRECT ANSWERS A. Loan Receipt Enables insurer to bring an action for recovery against a third party Duties and functions of the Department of Financial Services include all of the following except: FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ A. Approve the issuance of licenses B. Rating and underwriting rules C. Claims Supervision D. Investigate charges of unethical behavoir - CORRECT ANSWERS B. Rating and underwriting rules An adjuster who is a salaried employee under the supervision of the home, branch, or regional claims department of insurers is defined as a(n): A. Company or Staff Adjuster B. Fee Adjuster C. Public Adjuster D. Bureau Adjuster - CORRECT ANSWERS A. Company or Staff Adjuster Which of the following are not considered to be an adjuster: A. Employee or Staff Adjuster B. Independent Adjuster C. Public Adjuster D. General Lines Adjuster - CORRECT ANSWERS D. General Lines Adjuster FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ D. None of the Above - CORRECT ANSWERS B. Derelict An individual appointed by a general lines or agency to assist that agent or agency in transacting the business of insurance from the office of that agent or agency is defined as: A. Customer Representative B. General Lines Agent C. Adjuster D. None of the Above - CORRECT ANSWERS A. Customer Representative (4-40 license) The authority given by an insurer or employer to a licensee to transact insurance or adjust claims on behalf of an insurer or employer is defined as: A. Appointment B. Express Authority C. Registered D. Certificate of Authority - CORRECT ANSWERS A. Appointment Licensees are given authority through the appointment process FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ The Department may issue a nonrenewable temporary license authorizing the appointment of a general lines insurance agent, life agent, or an industrial fire or burglary agent, for a period not to exceed: A. 1 Year B. 6 Weeks C. 1 Month D. 6 Months - CORRECT ANSWERS D. 6 Months How many continuing education hours must an insurance adjuster complete every 2 years? A. 12 B. 20 C. 24 D. 14 - CORRECT ANSWERS C. 24 Which of the following are considered unfair methods of competition and unfair or deceptive acts or practices: A. False Statements B. Unfair Discrimination C. Unlawful Rebates D. All of the Above - CORRECT ANSWERS D. All of the Above FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ A customer representative appointed by a general lines agent or agency in transacting only the business of private passenger motor vehicle insurance from the office of that agent or agency is defined as: A. Automobile Agent B. Automobile Representative C. Limited Customer Service Representative D. Limited Customer Service Agent - CORRECT ANSWERS C. Limited Customer Service Representative An individual representing an insurer as to life insurance and annuity contracts, including agents appointed to transact life insurance, fixed- dollar annuities, or variable contracts by the same insurer is defined as: A. Life Agent B. Life Representative C. General Lines Agent D. None of the Above - CORRECT ANSWERS A. Life Agent Charging an applicant for a specific ancillary coverage or product, in addition to the cost of the insurance coverage provided for, without the informed consent of the applicant is a practice of: A. Churning FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ D. None of the Above - CORRECT ANSWERS C. Both A & B One who is duly authorized by a subsisting certificate of authority issued by the department to transact insurance in this state. This is defined as a(n): A. Unauthorized B. Certified C. Domiciled Insurer D. Authorized - CORRECT ANSWERS D. Authorized Actual Cash Value - CORRECT ANSWERS Replacement cost minus depreciation Subrogation - CORRECT ANSWERS When an insured has a right to collect damages from another party but elects to claim damages under his/her insurance policy; rights transfer to the insurer Loss Payee Clause - CORRECT ANSWERS Provides, in event of payment being made under the policy in relation to insured risk, that payment will be made to a third party rather than the beneficiary FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Mortgagee Clause - CORRECT ANSWERS Protects a lender who has an insurable interest in a home Grants special protection for the interest of a mortgage named in the policy; setting up a separate content between insurer and mortgagee Liability - CORRECT ANSWERS Negligence of the insured Other Structures - CORRECT ANSWERS Homeowner's Policy, covers items not permanently attached to main dwelling (shed, fence, etc.) Commercial Inland Marine - CORRECT ANSWERS Identifies risks which are eligible for either ocean or inland marine insurance Developed as extension to Ocean Marine coverage to provide coverage for cargo traveling over land instead of by sea Umbrella Policy - CORRECT ANSWERS Covers much higher limit and goes above/beyond claims directly relating to home and auto; protects assets from unforeseen events Known Loss - CORRECT ANSWERS Prevents insured from coverage if insured knew the loss was probable at time of contract FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Commercial Property Insurance - CORRECT ANSWERS Sometimes referred to as Commercial Fire and Allied Lines; Covers direct and indirect losses related to properties other than 1-4 family dwelling and farm properties Value Reporting - CORRECT ANSWERS Limit of coverage set at an amount higher than expected peak values Employee Theft - CORRECT ANSWERS Provides coverage for loss or damage to money, securities, and other property resulting from theft committed by an employee Bid - CORRECT ANSWERS Form of bond required to accompany a bid for a contract which will require that successful bidder furnish further bond if awarded job. Agreement to fulfill a contractual obligation used frequently in construction and supplying goods PPO - CORRECT ANSWERS (Preferred Provider Organization) Selected group of hospitals and medical practitioners in given area who have joined together in an effort to reduce medical costs FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Salvage - CORRECT ANSWERS Damaged property that may be retrieved, reconditioned and sold to reduce an insured loss. Motor vehicle or mobile home is a total loss Appointment - CORRECT ANSWERS Authority given by an insurer or employer to a licensee to transact insurance or adjust claims on their behalf Derelict - CORRECT ANSWERS Material which is or may have been a motor vehicle or mobile home, with or without all component parts, which is inoperable and which material is in such condition that its highest or primary value is either in its sale or transfer as scrap metal or component parts or both Implied Waiver - CORRECT ANSWERS May result from some act of neglect on part of the adjuster Express Waiver - CORRECT ANSWERS Occurs when insurer or its representative knowingly gives up a known right under insurance contract FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Mechanical Breakdown Coverage - CORRECT ANSWERS Covers repairs to mechanical parts of your vehicle that break; even covers in events not related to an accident Identify examples of peril. - CORRECT ANSWERS Fire, windstorm, flood after hurricane, etc. (something that causes a loss) How long does one have to notify the Department of Financial Services for a name and/or address change? - CORRECT ANSWERS 30 days What is the coinsurance clause and how might it apply to a given scenario? - CORRECT ANSWERS A coinsurance clause on a property policy requires the policyholder to carry, at minimum, a specified percent of the dwelling's replacement cost. Failure results in monetary penalty. Almost without exception, the percentage is 80% in coinsurance clauses of homeowner policies - this means the insured should carry 80% of replacement cost if they don't want to be penalized at the time of loss. What are the minimum requirements for the Financial Responsibility Law? (there are two) - CORRECT ANSWERS 1. legal valid claims of others must be satisfied up to the 10/20/10 requirements FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ 2. owner/operator must provide certification of financial responsibility for future accidents What is PIP and how may it apply to a given scenario? - CORRECT ANSWERS Personal Injury Protection with limit of $10,000 per person, per accident If Jeremy has a not-at-fault accident and he has PIP with a $1000 deductible, he can expect PIP to pay $1,600 of his $3,000 medical bill. (3,000 - 1,000 = 2,000 x .80 = 1,600) What is the difference between PIP and Workers Compensation? Which one is excess? - CORRECT ANSWERS PIP is primary against all other forms of medical and disability insurance coverage. Florida courts have held PIP is excess over Workers Comp. To eliminate duplicate recoveries, the law prohibits persons who have received PIP from recovering same amounts from others in legal liability actions. What are the basic PIP benefits? - CORRECT ANSWERS 1. Medical; 80% of reasonable expenses are paid for necessary medical, surgical, x- ray, dental, and rehab services 2. Work Loss; 60% of any loss of gross income and loss of earning capacity is reimbursed FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ What are the benefits under the Workers Compensation Law? - CORRECT ANSWERS -Medical Expenses: needed medical treatment with no dollar limit -Disability Benefits: compensation for wage loss -Death Benefits: if death results within one year of accident or, if it follow continuous disability, within five years after the accident What are the requirements for continuing education for a 6-20 license? - CORRECT ANSWERS A licensed General Lines Claims Adjuster is required to complete 24 hours of education every 2 years. Who might have an insurable interest in a property? - CORRECT ANSWERS Anyone who would suffer an economic loss from an adverse happening to the property What do the Declarations of a policy outline? - CORRECT ANSWERS The declarations identifies the named insured and address, states the policy period and premium and miscellaneous information about the insured, and specifies the limits of coverage that apply FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ Which parties are associated with a bond? - CORRECT ANSWERS - Principal: one who undertakes to perform, fulfill a contract, or meet an obligation -Obligee: one who is guaranteed that the principal will perform -Surety (Bonding Company): guarantees performance -Indemnitor: may act as additional party at times; agrees to reimburse the surety for any loss it may suffer from having bonded the principal What are the features of Major Medical Insurance? - CORRECT ANSWERS Major Medical Insurance is intended to afford protection against catastrophic losses. Some forms are designated to supplement basic hospital/surgical policies; others intend to provide both basic and catastrophic coverage These policies are characterized by a deductible, high maximum limit, and percentage participation or coinsurance. It may contain internal limits for hospital daily room charge and surgical services. What associations make up Citizens Property and Insurance? - CORRECT ANSWERS Florida Residential Property and Casualty Joint Underwriting Association (FRPCJUA) and Florida Windstorm Joint Underwriting Association (FWUA) FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ What are the characteristics of a Personal Automobile Policy Declaration page? - CORRECT ANSWERS Liability (bodily injury), property damage, uninsured motorist, medical payments, PIP, collision deductible, comprehensive deductible, towing coverage, and rental coverage What are some examples of transacting insurance? - CORRECT ANSWERS 1. solicitation and inducement 2. preliminary negotiations 3. effectuation of a contract of insurance 4. transaction of matters subsequent to effectuation of contract of insurance 5. mailing or otherwise delivering written solicitation to any person in this state by an insurer or any person acting on their behalf for fee or compensation What is the website for the Florida Department of Financial Services? - CORRECT ANSWERS www.myfloridacfo.com What are the thresholds of the No-Fault Law? - CORRECT ANSWERS (1) Significant and permanent loss of a bodily function, or (2) Permanent injury other than scarring and disfigurement, or FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ 5. Demonstration of unworthiness or lack of fitness. 6. Misappropriation of funds. 7. Failure to inform Department of Financial Services, within 30 days, after pleading guilty or no contest to a felony. Compare/contrast different types of adjusters. - CORRECT ANSWERS 1. Independent Adjuster - self-employed and not affiliated with either insurers or bureaus 2. Company/Staff Adjuster - salaried employee under supervision of home, branch, regional claims department of insurers 3. Public Adjuster - represents the financial interests of the insured named in the policy 4. Claims Adjuster - one who is involved in the investigation, adjustment, negotiation and/or trial preparations of claims arising under insurance policies 5. Bureau Adjuster - agent of adjustment bureau which serves multiple company clients *Independent and Bureau are both "Fee Adjusters" What is an Insurance Contract? - CORRECT ANSWERS Insurance is a contract whereby one undertakes to indemnify another or pay or FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ allow a specified amount or a determinable benefit upon determinable contingencies What are the components that make up the investigation process? - CORRECT ANSWERS Inquiry, verification, comparison What are the Code of Ethics for adjusters? - CORRECT ANSWERS Formal rules which impact on adjuster practices 1. Adjusters may not directly negotiate with a claimant who is represented by an attorney. 2. In interviewing witnesses, adjusters must avoid any actions tending to induce a suppression or deviation from the truth. A witness who requests a copy of a statement given must be provided with a copy. 3. Adjusters shall not give legal advice. 4. Adjusters shall not draft special releases; they are permitted only to fill in blanks of forms provided by the insurer. 5. Adjusters will not take advantage of an incapacitated claimant which would be to the detriment of the claimant. 6. Adjusters will not knowingly fail to advise claimants of their rights under contracts and laws of the state. 7. Adjusters will approach all aspects of the process with an unprejudiced and open mind, make truthful and unbiased reports, handle all processes with integrity and accept no remuneration other FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+ FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 77 PAGES LATEST UPDATE 2023/2024 RATED A+ than that to which there is legal entitlement, and act with diligence and due dispatch in achieving proper disposition of claims. 8. The adjuster must put the duty for fair and honest treatment of the claimant above the adjuster's own interests, in every instance. FLORIDA CLAIMS ADJUSTER EXAM | 206 QUESTIONS WITH 100% CORRECT ANSWERS | 76 PAGES LATEST UPDATE 2023/2024 RATED A+