FLORIDA CLAIMS ADJUSTER LATEST EXAM 2023-2024/CLAIMS ADJUSTER (FLORIDA) 270+ REAL EXAM QUESTIONS AND CORRECT ANSWERS|AGRADE

FLORIDA CLAIMS ADJUSTER

LATEST EXAM 2023-2024/CLAIMS

ADJUSTER (FLORIDA) 270+ REAL

EXAM QUESTIONS AND CORRECT

ANSWERS|AGRADE

The following are basic characteristics of a property or liability

insurance contract, except:

A. Personal Contract

B. Conditional Contract

C. Loss of Settlement Contract

D. Contract of Adhesion - ANSWER- Loss of Settlement Contract

The Insurer's responsibility to pay for a property loss may be

conditioned on the insured having used reasonable means to avoid the

loss, to protect the property against further loss, and to give the insurer

proof of the loss is defined as?

A. Conditional Contract

B. Adhesion Contract

C. Indemnity Contract

D. All of the Above - ANSWER- Conditional Contract

"may be conditioned"

If financial responsibility doesn't exist at the time of an accident, which

of the following things must happen to avoid penalties?

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 - ANSWER- C. Both A & B

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 - ANSWER- 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 - ANSWER- C. DP-3, or the Special Form

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 - ANSWER- 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.

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 - ANSWER- D. All of the Above

Also included: personal, non-business risk, no more than 2

roomers/boarders, condominium unit owners and cooperative apartment

occupants

An insured who wishes to purchase flood insurance, but is located in a

moderate or low risk flood zone may do so by purchasing a:

A. Preferred Risk Flood Policy

B. Standard Flood Policy

C. Universal Flood Insurance

D. None of the Above - ANSWER- A. Preferred Risk Flood Policy

Although Flood Insurance is provided by the Federal Government, those

who are not in a "flood zone" may purchase a preferred risk policy to

cover them for a flood claim.

Used only for Commercial Condominiums, it covers the unit-owners

business personal property and the personal property of others in the

insured's care, custody or control:

A. Condominium Dwelling Form

B. Personal Condominium Unit Owners Form

C. Condominium Unit Owners Form

D. None of the Above - ANSWER- C. Condominium Unit Owners Form

Does not cover buildings since coverage would typically be provided

under the Condo Association coverage form issued.

The Commercial Property Contract includes all of the following, except:

A. Common Policy Conditions

B. Commercial Property Conditions

C. Coverage Form

D. Commercial Loss Schedule - ANSWER- Commercial Loss Schedule

Also included: Declarations, Causes of Loss Form, Endorsements

Insures a condominium association against direct physical loss or

damage to buildings, business personal property and personal property

of others in the care, custody or control of the association and located at

the premises:

A. Condominium Association Form

B. Condominium Unit Owners Form

C. Condominium Insured Owner Form

D. None of the Above - ANSWER- A. Condominium Association Form

This, along with Condo Unit Owners Form, is located under Condo

Coverage.

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 - ANSWER- 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 nonrenewal.

A. 25

B. 90

C. 45

D. None of the Above - ANSWER- C. 45

Also, notice must state reasons the policy is not to be renewed.

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 - ANSWER- D. 45 days

Protects against loss of business income that results from damage to

covered property from a covered cause of loss.