Florida Claims Adjuster Exam Review, Exams of Nursing

Download Florida Claims Adjuster Exam Review and more Exams Nursing in PDF only on Docsity! FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Peril - CORRECT ANSWERS Something that causes a loss. Hazard - CORRECT ANSWERS Something that increases the probability that a loss will occur. Warranty - CORRECT ANSWERS A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation - CORRECT ANSWERS An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment - CORRECT ANSWERS The failure of the insured to reveal relevant facts known to the insured in applying for insurance. Abandonment - CORRECT ANSWERS Property insurance policies usually contain an abandonment clause, stating the FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ insured cannot dump damaged property on the insurer and demand its full value. Severability - CORRECT ANSWERS The insurance applies separately to each insured as if other insureds did not exist. Proximate Cause - CORRECT ANSWERS The cause having the most significant impact in bringing about the loss under a first-party property insurance policy, when two or more independent perils operate at the same time (i.e., concurrently) to produce a loss. Courts employ a set of rules to resolve causation disputes when a property policy states that it covers or excludes losses "caused by" a peril and there is more than one peril at work in a fact pattern. Under common law, whether the policy provides coverage depends on which peril is chosen as the proximate cause. Direct Loss - CORRECT ANSWERS Physical harm to tangible property. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Express Waiver - CORRECT ANSWERS Occurs when the insurer or its representative knowingly gives up a known right under the insurance contract. Implied Waiver - CORRECT ANSWERS A waiver that is assumed to be in effect from a person's behavior and shows he is waiving a right. Damages - CORRECT ANSWERS Monetary compensation that is awarded by a court in a civil action to an individual who has been injured through the wrongful conduct of another party. Subrogation - CORRECT ANSWERS When an insured has a right to collect damages from another party, but instead elects to claim the damages under his insurance policy, his rights against the other party are transferred to the insurer. Changes - CORRECT ANSWERS All policies provide that any changes to the policy be made by the insurer, in writing. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Policy Period - CORRECT ANSWERS The condition states that coverage applies only to losses or occurrences that take place during the policy period. (Prior to the stated date and time of termination). Policy Territory - CORRECT ANSWERS Condition limiting coverage to occurrences or losses that take place only within a stated geographical region. Other Insurance - CORRECT ANSWERS The principle of indemnity dictates against duplicate recovery for the same loss. Cancellation - CORRECT ANSWERS The insured may cancel at any time, for any reason, without advance notice. If the conpany wishes to cancel, it must provide some degree of advance notice so the insured will have time to replace the coverage. Appraisal - CORRECT ANSWERS A written contract of or written agreement for or effecting insurance, or the certificate FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ thereof, by whatever name called, and includes all clauses, riders, endorsements and papers which are a part thereof. Insurance - CORRECT ANSWERS Is a contract whereby one undertakes to indemnify another or pay or allow a specified amount or a determinable benefit upon determinable contingencies. Binder - CORRECT ANSWERS Acts as a temporary contract until the policy is issued. How many days should an insurer give for prior notice of cancellation of a binder? - CORRECT ANSWERS 5 days. Property Insurance - CORRECT ANSWERS Any insurance wherein payment by the insurer will be paid directly to the insured or other specifically named interests. Liability Insurance - CORRECT ANSWERS Payment will be on behalf of the insured to another, based upon the insureds FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Commercial Property Insurance - CORRECT ANSWERS Covers direct and indirect losses related to properties other than one to four family dwellings and farm properties. Employee Theft - CORRECT ANSWERS Provides coverage for loss of or damage to money, securities, and other property resulting from theft committed by an employee. Theft is defined as the unlawful taking of money, securities or other property to the deprivation of the insured. Bid - CORRECT ANSWERS Aggreement to fulfill a contractual obligation used frequently in construction and supplying goods. Health Maintenance Organization (HMO) - CORRECT ANSWERS Provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium. Preferred Provider Organization FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ (PPO) - CORRECT ANSWERS A selected group of hospital's and medical practitioners in a given area who have joined together in an effort to reduce medical costs. Estoppel - CORRECT ANSWERS Is an equitable principle to the effect that if one intentionally or unintentionally creates the impression that a certain fact exists, and an innocent party relies on that impression and is damaged as a result, the guilty party may be legally prohibited(estopped) from asserting that the fact does not exist. Salvage - CORRECT ANSWERS Motor vehicle or mobile home is a total loss. Junk - CORRECT ANSWERS Any 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. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Fiduciary Agent - CORRECT ANSWERS Agent for a principal/Client. The legal or special relationship of trust, confidence, or responsibility between 2 or more parties. Domestic Insurer - CORRECT ANSWERS Insurer is one formed under the laws of its this state. Foreign Insurer - CORRECT ANSWERS Insurer is one formed under the laws of any state, district territory, or commonwealth of the United States other than this State. Alien Insurer - CORRECT ANSWERS Insurer is an insurer other than a domestic or foreign insurer. Appointment - CORRECT ANSWERS The authority given by an insurer or employer to a licensee to transact insurance or adjust claims on behalf an insurer or employer. Derelict - CORRECT ANSWERS Material which is or may have been a motor vehicle or mobile home, with or without all FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ such as the GAB Business Services, Inc and Underwriters Adjusting Company both national firms. Independent Adjuster - CORRECT ANSWERS Are Self- Employed and are not affiliated with either insurers or bureaus. They serve as adjuster representatives of insurers, and their services are compensated on a fee-plus-expenses basis for each loss handled. Public Adjuster - CORRECT ANSWERS Is a claims adjuster who is an advocate for the policyholder in appraising and negotiating an insurance claim. What are the Characteristics of a Personal Auto Policy Declaration Page ? - CORRECT ANSWERS -Liability(Bodily Injury) -Property Damage -Uninsured Motorist -Medical Payments -Personal Injury Protection -Collision Deductible FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ -Comprehensive Deductible -Towing Coverage -Rental Coverage What are examples of Transacting Insurance? - CORRECT ANSWERS -Solictitation of Insurance -Negotiation of Insurance -Effecting Coverage (Binding insurance coverage) -Transacting Insurance Matters(during and after insurance is bound). What are thresholds of the No-Fault Law ? - CORRECT ANSWERS -Significant and permanent loss of a bodily function or -Permanent injury other than scarring and disfigurement or -Significant and permanent scarring or disfigurement or -Death FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ What is the adjusters investigation limited too ? - CORRECT ANSWERS A simple verification of bills and estimates or it may be expanded to include photographs, witness canvasses, or recorded statements as the circumstances require. What are the componets of a investigation process ? - CORRECT ANSWERS -Inquiry -Verification -Comparison What are some reasons for suspension, revocation or termination of a license ? - CORRECT ANSWERS - Transacting Insurance outside of scope of one's license -Misrepresentation or fraud -Sliding -Demonstration of unworthiness or lack of fitness -Misappropriation of funds -Failure to inform Department of financial services, within 30 days, after pleading guilty or no contest to a felony. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Adjusting - CORRECT ANSWERS Process of disposing of an insurance claim. Loan Receipt - CORRECT ANSWERS 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 advanced pending the outcome of a claim against the person responsible for the damage. Apportionment - CORRECT ANSWERS Is a provision for computing and assigning to each of two or more contracts covering a claim its proportion of the amount of the loss. How to settle a claim for an Injured Minor ? - CORRECT ANSWERS Under Fl Law, the adjuster should settle a third- party liability claim of an injured minor child with both parents of the injured child, presuming the settlement is for an amount not in excess of $15,000. If it is more than that it must be consummated through the Circuit or County Courts. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ What are the violations of the Unfair Trade Practices Act ? - CORRECT ANSWERS -Failing to act promptly. -Failure to affirm or deny a claim when an insured is entitled thereto. -Failure to explain claim denials in writing. -Failure to maintain complaint-handling procedures, such as keeping accurate records of complaints. Section 624.155 of the Florida Statues provides ? - CORRECT ANSWERS That any person who is damaged by certain insurer practices is granted a right to sue the insurer for damages. The Principle Of Utmost Good Faith - CORRECT ANSWERS An insurance contract is based, places serious responsibilities on the claim adjuster with regard to conduct, work habits, and specific claims handling activities. What does 10/20/10 mean ? - CORRECT ANSWERS 10=10,000 Livability per person injured-amount that will be paid out for injuries to one person. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ 20=20,000 Combined Total Liability for all injuries-this is the most paid out for injuries for an accident. 10=10,000 Property Damage-the most paid out for damage caused to property of others. What is SR-22 ? - CORRECT ANSWERS A form of coverage known as a NAMED NOOWNER policy is required, this form offers insurance coverage only while the insured is operating automobiles owned by others. What are the two things that need to happen for financial responsibility that did not exist at the time of the accident ? - CORRECT ANSWERS -The legally valid claims of others must be satisfied(up to the 10/20/10 requirements). -The owner and operator must provide certification of financial responsibility for future accidents. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Private Passenge Type Auto-Station Wagons, jeeps, pickups, panel trucks, vans, and utility trailers. -Public Auto- Buses and Taxicabs -Commercial Auto- truck tractors, semi-trailers, commercial trailers, and Service trailers. -Special types of vehicles like cherry pickers, air compressors. Garage Coverage Form - CORRECT ANSWERS Used to insure businesses engaged in selling, servicing, repairing, parking or storing autos. Truckers Coverage Form - CORRECT ANSWERS Used to insure businesses that are hired to transport goods for someone else. Business Auto Coverage Form - CORRECT ANSWERS Used to insure the automobile exposures of all businesses other than garage or trucking businesses. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ What does Commercial General Liability contract includes ? - CORRECT ANSWERS -Declarations -Common policy conditions -One of the two coverage forms, Occurrence, or Claims-Made -A Nuclear Energy Liability Exclusion endorsement -Various other endorsements may be attached to broaden or restrict the coverage provided by these basic forms. Declarations - CORRECT ANSWERS 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. The policy states that if a company wishes to cancel, How many days must it give prior notice ? - CORRECT ANSWERS 30 days. Nuclear Endorsement - CORRECT ANSWERS Excludes all hazards related to nuclear energy. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ What is Coverage A ? - CORRECT ANSWERS Bodily Injury and Property Damage Insuring Agreement. Bodily Injury(BI) - CORRECT ANSWERS Physical harm and includes sickness or disease or death resulting there from. Property Damage(PD) - CORRECT ANSWERS Physical injury to tangible property, including loss of use of that property. Occurrence - CORRECT ANSWERS An accident, including. continues or repeated exposure to substantially the same general harmful conditions. Accident - CORRECT ANSWERS A sudden, unexpected event. Coverage Territory - CORRECT ANSWERS Is the U.S. and its territories or possessions , Puerto Rico and Canada, including international waters and airspace between these places. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ What are the General Liability Insurance Forms ? - CORRECT ANSWERS -Owners and Contractors Protective Liability(OCP)Form. -Liquor Liability Coverage Form. -Products/Completed Operations Liability Coverage Form -Pollution Liability Coverage and Pollution Limited Form. Professional Liability Insurance Coverage - CORRECT ANSWERS Covers liability arising from rendering of or failure to render professional services. Farm Liability Coverage Form - CORRECT ANSWERS Provides coverage for BI or PD arising out of farming operations of personal activities. The Custom Farming Endorsement - CORRECT ANSWERS Provides coverage for liability arising from the insureds performance of farming operations for another, for a charge under any contract or agreement. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ The Farm Employers Liability/Medical Payments Endorsement - CORRECT ANSWERS Applies the basic Liability and Medical Payments coverages to injuries to farm employees, but not to employees eligible to receive workers compensation benefits. Employment Related Practices Liability - CORRECT ANSWERS This Form provides employers witg claims- made coverage for liability arising out of claims for injury to an employee because of an employment-related offense. Unauthorized Entity - CORRECT ANSWERS An entity that is required to be licensed or registered with the Florida Office of Insurance Regulation but is operating without the proper authorization is identified as an unauthorized insurer. To be Authorized and transact business in FL what must you have ? - CORRECT ANSWERS Certificate of Authority. General Lines Agent 2-20 - CORRECT ANSWERS Licensed to write property/casualty, surety, or health insurance. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Customer Representative 4-40 - CORRECT ANSWERS Must be licensed, appointed by a General Lines Agent and may assist in transactions in the OFFICE ONLY. Limited Customer Representative 4-42 - CORRECT ANSWERS Must be licensed, appointed by a General Lines Agent and transact AUTO insurance in the OFFICE ONLY. All Lines Claims Adjuster 6-20 - CORRECT ANSWERS Investigates, Evaluates, and Negotiates Claims. A General Lines Adjuster is required to do what ? - CORRECT ANSWERS Participate in 24 hrs of continuing education every 2 years. A licensee must notify the Department in writing in how many days for change of name, address, phone number or email ? - CORRECT ANSWERS 30 days. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Computer Fraud - CORRECT ANSWERS Will pay for the loss of or damage to money, securities and other property resulting from using a computer to fraudulently transport from inside the insureds promises to a person or place outside the premises, which encompasses anywhere in the world. Extortion - CORRECT ANSWERS 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 being held captive. Clients Property - CORRECT ANSWERS Offers coverage for non-owned property for which the insured is legally liable while the property is on the premises of the insureds client. Lesses of Safe Deposit Boxes - CORRECT ANSWERS Covers theft, disappearance, or destruction of securities; and burglary or robbery of property other than money or securities, all from within designated places of safe depository. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Funds Transfer Fraud - CORRECT ANSWERS Is designed to cover loss due to the fraudulent transfer of funds through the use of a telephone or fax machine. Securities Deposited with Others - CORRECT ANSWERS Covers theft, disappearance, or destruction of securities, which have been deposited with a custodian, such as a bank or stockbroker. The deductible - CORRECT ANSWERS The dollar amount that the insured pays before the insurer is required to pay the remainder of the loss is known as? Replacement cost - CORRECT ANSWERS Which loss settlement provides new for old? the claims adjuster's role in the insurance industry includes - CORRECT ANSWERS Give appropriate legal advice and write binding contracts FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ following are examples of a peril - CORRECT ANSWERS Lighting, Explosion and Fire The abandonment clause - CORRECT ANSWERS The clause that prohibits the insured from dumping damaged property on the insurance company and demanding to be paid in full is? Liberalization - CORRECT ANSWERS When a policy change results in broadened coverage with no additional premium, the insured automatically receives the benefit under the principle of? Risk - CORRECT ANSWERS The chance of financial loss is known as? Percentage - CORRECT ANSWERS Hurricane insurance in coastal areas in Florida is written subject to which of the following deductibles? FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ the following are part of an insurance policy - CORRECT ANSWERS Exclusions, Declarations and Endorsementd ACV - CORRECT ANSWERS replacement cost minus depreciation The insured's house is totally destroyed in a fire. The house is insured for $200,000. The adjuster who investigates the claims determines the ACV of the home is $185,000. - CORRECT ANSWERS The Florida Valued Policy Law requires the insurer to pay $200,000 describe a franchise deductible - CORRECT ANSWERS No payment is made until the loss equals or exceeds the amount of the deductible and then the loss is paid in full All of the following are characteristics of an insurance contract EXCEPT? Personal, Private, Conditional, Adhesion? - CORRECT ANSWERS Private FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ If a claimant is represented by an attorney, the adjuster should? - CORRECT ANSWERS Only meet with the client when the attorney is present Adjusters should advise claimants on? - CORRECT ANSWERS claims information An adjuster is required to notify a claimant when a claim is denied. The notification must be? - CORRECT ANSWERS Written The term ethics refers to? - CORRECT ANSWERS service to others, personal respect and proper mode of conduct When an adjuster deals with a claimant who is not a policyholder, this claim is known as an? - CORRECT ANSWERS third party claim FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ The successful adjuster/negotiator should understand that communication includes all of the following EXCEPT? Select one: A. Verbal and non-verbal messages B. Questioning C. Listening D. Decision-making - CORRECT ANSWERS Decision-making Which of the following is not a duty of the claims adjuster? Select one: A. Investigating B. Evaluating C. Negotiating D. Counseling - CORRECT ANSWERS Counseling The adjuster's duty to the insurer is best described as? Select one: A. Friendly B. Factual FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ The insured, a resident of Florida, was in an accident in Georgia. The Florida car was insured with liability limits of 10/20/10. Georgia's minimum liability limits are 20/40/10. How will the Florida policy respond? Select one: A. 10/20/10 B. 20/40/10 C. No coverage D. 20/40/20 - CORRECT ANSWERS 20/40/10 Under a PAP, when does the insurance company cease to defend the insured? Select one: A. The insurance company is not obligated to defend the insured B. After the case has been resolved C. When the policy limit is exhausted D. At the policy's expiration - CORRECT ANSWERS When the policy limit is exhausted FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ The Florida Financial Responsibility Law is triggered by? Select one: A. Registration of the vehicle B. Purchase of the vehicle C. An accident involving bodily injury or property damage D. Purchase of an auto policy - CORRECT ANSWERS An accident involving bodily injury or property damage The insured is an owner and is insured for PIP. She is injured in an accident and has the following damages? medicals-$12,000, lost wages-$6,000. How much will PIP pay if there is a $1,000 deductible? Select one: A. $11,200 B. $12,400 C. $9,600 D. $10,000 - CORRECT ANSWERS $10,000 FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Trucker insurance premiums are based on all EXCEPT? Select one: A. Radius B. Age of the driver C. Type of business D. Territory garaged - CORRECT ANSWERS Age of the driver Joe works for Sinks-R-Us, Inc. As part of his compensation package, he is supplied with a company car, which he gets to take home every night. Joe wants to make sure the Liability coverage under his PAP covers him while driving his company car. What coverage would you add to Joe's PAP? Select one: A. Named Non-owned coverage B. Extended Non-owned Liability coverage C. Drive Away Liability coverage D. False Pretense coverage - CORRECT ANSWERS Extended Non-owned Liability coverage FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Jane is driving Mary's car. Jane has an at-fault accident with Bob. Mary has liability limits of 10/20/10. Jane has liability limits of 100/300/100. If Bob has $40,000 in bodily injury, how much will be collected from Jane's policy? (IGNORE PIP) Select one: A. $30,000 B. $10,000 C. $50,000 D. $20,000 - CORRECT ANSWERS $30,000 Jim owns an auto and he is involved in an auto accident. He suffered $4,000 in medical expenses and $4,000 of lost income. How much does his insurance pay if he has Extended PIP? Select one: A. $7,200 B. $8,200 C. $4,200 D. $5,200 - CORRECT ANSWERS $7,200 FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ If an insured has $100,000 of unstacked UM coverage with three cars on the policy, how much is available under a UM claim? Select one: A. $0- B. $300,000 C. $100,000 D. $200,000 - CORRECT ANSWERS $100,000 The insured has a PAP with single liability of $50,000. The following loss occurs: $37,000-BI pedestrian; $3,000-Display window; $10,000-Sports car; $1,500-Legal defense. How much would his policy pay for the loss? Select one: A. $51,500 B. $37,000 C. $40,000 D. $50,000 - CORRECT ANSWERS $51,500 FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ The insured is driving down the road when a low hanging branch strikes and cracks his windshield. The cost to replace the windshield is $650. The insured has a $500 collision deductible and a $250 other than collision deductible. The insurance company will pay...? Select one: A. $250 B. No coverage C. $500 D. $650 - CORRECT ANSWERS $650 Which of the following is covered under PAP liability? Select one: A. Intentional damage B. Permissive use of insured's automobile C. Damage to property owned by the insured D. Injury to an employee in the course of employment - CORRECT ANSWERS Permissive use of insured's automobile FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ 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? Select one: A. $6,000 B. $5,000 C. $15,000 D. $10,000 - CORRECT ANSWERS $6,000 The coverage that provides Liability, Medical Payments and Uninsured Motorist for a named individual who does not own an automobile is? Select one: A. Extended Non Owned B. Driver Other Car C. Named Non Owned D. Extended PIP - CORRECT ANSWERS Named Non Owned Uninsured Motorists coverage is used to cover the insured for? FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Select one: A. Bodily injury only B. Bodily injury and property damage C. Medical payments D. Liability - CORRECT ANSWERS Bodily injury only 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? Select one: A. Sam does not have Tort Exemption B. Betty may sue Sam and Fred for $5,000 C. Betty must use her own PIP to pay her medical bills D. Sam may recover any damages from Fred's PIP - CORRECT ANSWERS Betty must use her own PIP to pay her medical bills FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ 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? Select one: A. Collision B. Both A and B C. Other than collision D. Neither A or B - CORRECT ANSWERS Collision Which of the following is not eligible for a homeowners policy? Select one: A. Tom who owns the house he rents to his neighbor B. Joe who lives is a garage apartment C. A husband and wife who own a vacation home in Georgia D. Betty who rent a condominium unit - CORRECT ANSWERS Tom who owns the house he rents to his neighbor Homeowner policies are rated on all of the following, EXCEPT: Select one: FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ D. A personal nature - CORRECT ANSWERS A personal nature All of the following are eligible for a Homeowner Policy, EXCEPT: Select one: A. Renters who maintain resident in any type of building B. Dwellings owned by a corporation C. Owner-occupants of 1-4 family dwellings D. Condominium unit owners - CORRECT ANSWERS Dwellings owned by a corporation Outdoor equipment used to service the premises is covered under: Select one: A. Coverage C B. Coverage A C. Coverage B D. Coverage D - CORRECT ANSWERS Coverage C FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ 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: Select one: A. Subrogation B. Liberalization C. Assignment D. Coinsurance - CORRECT ANSWERS Liberalization The coverage territory for Personal Inland Marine Insurance (PAF) is: Select one: A. Whatever is specified in the policy B. Worldwide C. United States D. U.S., Canada, and U.S. territories - CORRECT ANSWERS Worldwide FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ What condition must be met in a HO Policy for replacement cost to settle the loss? Select one: A. The insured must replace the item lost or damaged B. All of these answers are correct C. The insured must file the claim within 10 days D. The insured must carry insurance of at least 80% of the cost to replace the dwelling - CORRECT ANSWERS The insured must carry insurance of at least 80% of the cost to replace the dwelling Which HO form covers a condo owner? Select one: A. HO-3 B. HO-2 C. HO-6 D. HO-4 - CORRECT ANSWERS HO-6 Joe had a Dwelling Policy with $40,000 Coverage A limit. A covered loss occurred that totaled the dwelling and the FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ A. $10,000 B. None of the above C. $20,000 D. $25,000 - CORRECT ANSWERS $25,000 An HO-4 Policy is designed for a: Select one: A. Condo owner B. Home owner C. All of the above D. Renter - CORRECT ANSWERS Renter What is the deductible for a Personal Articles Floater (PAF)? Select one: A. $250 B. $100 C. $500 D. $0 - CORRECT ANSWERS $0 FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ 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 will pay? Select one: A. $10,000 B. No coverage C. $25,000 D. $20,000 - CORRECT ANSWERS $20,000 Which situation is not covered for liability under an HO3 policy? Select one: A. Mike used a 4-wheel ATV to haul yard clippings to his compost pile. A neighbor is on Mike's property and Mike accidentally runs into him with the ATV. B. Mike rents the community center for his son's wedding reception. A guest falls and the guest sues Mike for injuries. C. Mike owns a 16 foot. 100 H.P. outboard motor boat and he has an at-fault accident in which he totally destroys another boat. The owner of the boat sues Mike. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ D. Someone falls at the house Mike is planning to live in after it is built - CORRECT ANSWERS Mike owns a 16 foot. 100 H.P. outboard motor boat and he has an at-fault accident in which he totally destroys another boat. The owner of the boat sues Mike. Which of the following are available as HO hurricane deductibles? Select one: A. All of the above B. 2% C. 5% D. $500 - CORRECT ANSWERS All of the above If flooding is confined to one area, the flood water must cover: Select one: A. The building B. Over three acres of land C. Over two acres of land FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ The insured owns a fireworks factory, which is especially busy during the months of June and July. Which endorsement should he purchase to cover his inventory during these months? Select one: A. Building Ordinance B. Value Reporting C. Peak Season D. Inflation Guard - CORRECT ANSWERS Peak Season The Builders Risk coverage form covers: Select one: A. Contractors B. Buildings under construction C. Investors D. Builders - CORRECT ANSWERS Buildings under construction FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ The Builders Risk Coverage Form assumes which coinsurance provision: Select one: A. 90% B. 100% C. 80% D. 70% - CORRECT ANSWERS . 100% In the event that the Condominium Association Coverage form and the Condominium Unit Owners Coverage form both cover a loss, which of the following is true? Select one: A. Both forms pay equally B. The Unit Owner form is primary and the Association form is excess. C. The two forms are prorated D. The Association form is primary and the Unit Owner form is excess - CORRECT ANSWERS The Association form is primary and the Unit Owner form is excess FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Both commercial property and liability were combined into one policy, thus saving money on underwriting expense. What is this combination called? Select one: A. A monocline policy B. A valid policy C. A combination policy D. A package policy - CORRECT ANSWERS A package policy Under the Business and Personal Property Coverage Form the provision for suspension for certain perils applies after: Select one: A. 60 days vacancy B. 30 days vacancy C. 90 days vacancy D. 120 days vacancy - CORRECT ANSWERS 60 days vacancy Under Business Income Coverage, the period of restoration begins: FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ A florist wanted coverage on business contents, which vary in amount over the course of a year. Which form best fits this situation? Select one: A. Peak Season Endorsement B. None of the above C. Value Reporting Endorsement D. An automatic increase in insurance - CORRECT ANSWERS Value Reporting Endorsement Under the Business and Personal Property Coverage Form, all of the following are additional coverages EXCEPT: Select one: A. Cost to hire a night watchman B. Cost to preserve property C. Debris Removal D. Fire Department Service Charge - CORRECT ANSWERS Cost to hire a night watchman FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Which exposures are covered by the Leaseholder Interest Coverage Form? Select one: A. All of the above B. A loss of any unused prepaid rent C. An unused part of tenant improvements D. A tenant's loss of a favorable lease/sub-lease - CORRECT ANSWERS All of the above 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? Select one: A. Yes, expenses are covered because of proximate cause. B. No, slip and falls are not covered under Medical Payment coverage C. Yes, expenses are covered within three years of the injury. D. No, expenses are covered within one year of the injury. - CORRECT ANSWERS No, expenses are covered within one year of the injury. FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ 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: Select one: A. Will cover if the insure has Liquor Liability Coverage B. Will not cover C. Will cover if the insured has Legal Liability Coverage D. Will cover the claim - CORRECT ANSWERS Will cover the claim An employee is hurt on the insured's premises. Three months later the employee dies. Are the employees funeral expenses covered under the company's CGL Medical Payments? Select one: A. Yes, the claim was made within one year time period B. No, the claim was filed too late C. Yes, the employee is automatically covered FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Tom purchases a CGL - Occurrence form with an effective date of 1-1-03. He purchases a claims-made CGL with an effective date of 1-1-04. An injury from 8-1-03 is filed in 2005 when a claim is made. Which policy covers the injury? Select one: A. 1-1-03 policy B. 1-1-04 policy C. No coverage D. 1-1-05 policy - CORRECT ANSWERS 1-1-03 policy All of the following are covered under Supplemental Payments in a CGL EXCEPT: Select one: A. Expenses incurred at the company's request B. Lost wages up to $100/day C. Bails bonds up to $250 D. Interest on judgments - CORRECT ANSWERS Lost wages up to $100/day FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Which of the following is not a covered territory for a CGL policy? Select one: A. Canada B. United States C. Puerto Rico D. Mexico - CORRECT ANSWERS Mexico Mr. Smith buys a CGL claims-made policy on 1-1-04 with a retroactive date of the policy's inception of 1-1-04. He buys another CGL claims-made policy on 1-1-05 with a retroactive date of 1-1-05. An accident occurs on 7-1-04 and the claimant files this injury on 9-1-05. Which policy covers? Select one: A. 1-1-04 claims-made policy B. 1-1-05 claims made policy C. 1-1-04 is primary and 1-1-05 policy is excess D. Neither policy covers - CORRECT ANSWERS Neither policy covers FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ What is unique about lawyer's professional liability insurance? Select one: A. It covers claims that existed before the policy was effective. B. It deducts claims expenses first and the balance is payable for the claim. C. It covers lawyers for fraudulent activities. D. It covers only lawyers in group practice. - CORRECT ANSWERS It deducts claims expenses first and the balance is payable for the claim. The three parties to a bond are: Select one: A. Surety, principal and cosigner B. Surety, insured and insurer C. Surety, obligee and indemnitor D. Surety, obligee and principal - CORRECT ANSWERS Surety, obligee and principal Safe Burglary is defined as: FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ 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? Select one: A. Fiduciary bond B. Blue Sky bond C. Lost Instrument bond D. Payment bond - CORRECT ANSWERS Lost Instrument bond A Florida employee was sent Boston to work for one week. While in Boston, they were injured on the job. How is the injury covered under WC benefits? Select one: A. The injury is covered under Florida's WC law B. There is no coverage under either state law C. The injury is covered under Massachusetts WC law D. None of the above - CORRECT ANSWERS The injury is covered under Florida's WC law FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Contract bonds include all of the following, EXCEPT: Select one: A. Permit bond B. Performance bond C. Bid bond D. Maintenance bond - CORRECT ANSWERS Permit bond In the non-construction industry, all of the following employments are exempt from Workers Compensation EXCEPT: Select one: A. Pro athletes B. Casual labor completed in 30 days for $750 C. Labor under sentence of a court order D. Domestic servants in private homes - CORRECT ANSWERS Casual labor completed in 30 days for $750 Which bond protects the consumer against misrepresentation of a securities dealer? Select one: FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ A. Blue Sky bond B. Permit bond C. Payment bond D. Lost Instrument bond - CORRECT ANSWERS Blue Sky bond 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? Select one: A. $100, 000 B. $150,000 C. No limit D. $250,000 - CORRECT ANSWERS No limit An employee is injured on the job and is out of work for 10 days. How many days' wages can this employee recover? Select one: A. No recovery FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ D. A first-degree felony - CORRECT ANSWERS A third- degree felony Employees of ABC Manufacturing are required to wear steel- toed shoes when they are in the factory. An employee who injures their foot because they are not wearing safety shoes while in the plant would have their benefits reduced by: Select one: A. 20% B. 10% C. 25% D. 15% - CORRECT ANSWERS 25% What is the amount allotted for funeral expenses under Workers Compensation benefits? Select one: A. $2,500 B. $10,000 C. $5,000 D. $7,500 - CORRECT ANSWERS $7,500 FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ What is the maximum death benefit payable to eligible dependents under WC? Select one: A. $250,000 B. $200,000 C. $150,000 D. $100,000 - CORRECT ANSWERS $150,000 Bond underwriting usually looks at the three C's which include all of the following, EXCEPT: Select one: A. Contingency B. Collateral/Capital C. Capability D. Character - CORRECT ANSWERS Contingency Which bond guarantees performance in conformity with the law? FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Select one: A. A Conservation Bond B. A Blue Sky Bond C. A License Bond D. A Franchise Bond - CORRECT ANSWERS A License Bond Joe is off the job for 27 days due to a work related injury. Joe can receive WC benefits for how many days? Select one: A. 7 days B. 14 days C. 21 days D. 27 days - CORRECT ANSWERS 27 days Workers Compensation in Florida is regulated by: Select one: A. The Department of Labor B. The Department of Labor Security FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ All of the following are among the broad classes of Ocean Marine Insurance, EXCEPT: Select one: A. Cargo B. Barratry C. Freight D. Hull - CORRECT ANSWERS Barratry An insured wants to fly to Canada and then down to Mexico. Will he have coverage available for this trip? Select one: A. He cannot go outside the U.S. B. There is coverage in Canada, but not in Mexico C. There is coverage in Canada, and 100 miles into Mexico D. There is coverage in Mexico, but not in Canada - CORRECT ANSWERS There is coverage in Canada, and 100 miles into Mexico Admitted Liability is: FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ Select one: A. Requires a legal action for injuries B. None of the above C. Applicable to passengers carried for hire D. Not applicable to passengers carried for hire - CORRECT ANSWERS Not applicable to passengers carried for hire The minimum basic liability limit for a Boiler and Machinery policy is: Select one: A. $500,000 B. $1,000,000 C. $250,000 D. $100,000 - CORRECT ANSWERS $500,000 he Valuation Clause in Boiler and Machinery coverage provides for replacement cost if: Select one: A. Property is repaired or replaced within 18 months FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+ B. Property is repaired or replaced within 24 months C. Property is repaired or replaced within 36 months D. Property is repaired or replaced within 48 months - CORRECT ANSWERS Property is repaired or replaced within 18 months Which Commercial Inland Marine policy would cover those who ship and receive goods on a single trip basis? Select one: A. Motor Truck Cargo B. Trip Transit C. Trailer Interchange D. Annual Transit - CORRECT ANSWERS Trip Transit One category of Commercial Inland Marine insurance is "Instrumentalities of Transportation and Communication. All of the following are covered under this form, EXCEPT: Select one: A. Tractor trailer trucks B. Pipelines FLORIDA CLAIMS ADJUSTER EXAM, 6-20 ALL LINES ADJUSTER- FLORIDA- REVIEW 332QUESTIONS AND ALL ANSWERS 100% CORRECTLY VERIFIED 2023/2024 GRADED A+