Florida 3-20 Public Adjusters State Exam

(Set 1)-with 100% verified solutions-2023-

2024

The insurer and insured agree to a specific value of insured item

Agreed Value Policies

Someone who has care, custody or control of another's property

Bailee

Claim filed by policy holder against his _

First Party Claim

When a person who entrusts another with an object and it results in injury to

someone can be held liable for the injury to someone. Can be held liable for the

injury i.e. Firearm or DWI

Negligent Entrustment

Hazard that results from a conscious decision made by an insured to participate in a

manner or behavior more likely to result in a loss because they have insurance

Moral Hazard

Used to provide temporary insurance coverage until an insurance policy can be

written

Binder

Required by lenders to guarantee that outstanding loans against a job are paid upon

completion

Completion Bonds

The section of an insurance policy identifying the insured, endorsements, coverages,

limits, and premiums

Declarations

Policyholder cannot transfer the policy to someone else without written permission

from their insurance company

Assignment