6.20 All Lines Adjuster- Florida- Review of Quizzes (100% Verified with correct answers) Florida Claims Adjuster Exam 2024 (A+ GRADED) Florida 6-20 All Lines Adjuster Test (100% correct answers)
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Insurance correct answers -an economic device used to protect against extreme unforeseen loss - the transfer of risk from one party to another Premium correct answers -the fee paid by the insured in exchange for insurance Principle of Indemnity correct answers -the insurer should be restored ...
Voorbeeld 2 van de 13 pagina's
In winkelwagenInsurance correct answers -an economic device used to protect against extreme unforeseen loss - the transfer of risk from one party to another Premium correct answers -the fee paid by the insured in exchange for insurance Principle of Indemnity correct answers -the insurer should be restored ...
Which kind of losses are covered under a standard fire policy? correct answers Direct All fires are not covered by the Standard Fire policies, only those that: correct answers are hostile and have a flame or glow At what time does a fire policy go into affect? correct answers 12:01am standard ...
Voorbeeld 3 van de 16 pagina's
In winkelwagenWhich kind of losses are covered under a standard fire policy? correct answers Direct All fires are not covered by the Standard Fire policies, only those that: correct answers are hostile and have a flame or glow At what time does a fire policy go into affect? correct answers 12:01am standard ...
Multi Peril-Package correct answers Any policy which provides property & liability coverage (not homeowner) ISO policy correct answers Sold in Texas, but not Texas form Only Texas DP 1 correct answers Mainly the only TDP sold, now with plethora of endorsements Texas Standard Fire Policy cor...
Voorbeeld 2 van de 7 pagina's
In winkelwagenMulti Peril-Package correct answers Any policy which provides property & liability coverage (not homeowner) ISO policy correct answers Sold in Texas, but not Texas form Only Texas DP 1 correct answers Mainly the only TDP sold, now with plethora of endorsements Texas Standard Fire Policy cor...
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 correc...
Voorbeeld 3 van de 29 pagina's
In winkelwagenThe 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 correc...
Accumulated Depreciation correct answers The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) correct answers A valuation method used by insurers to reflect an item's current market value right before being da...
Voorbeeld 3 van de 18 pagina's
In winkelwagenAccumulated Depreciation correct answers The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) correct answers A valuation method used by insurers to reflect an item's current market value right before being da...
What is insurance? correct answers protection against financial loss what is a premium correct answers a scheduled amount to be paid for an insurance policy. What are premiums used for correct answers premiums are collected into a "pool" or "reserve to pay out claimants when needed. how ...
Voorbeeld 2 van de 13 pagina's
In winkelwagenWhat is insurance? correct answers protection against financial loss what is a premium correct answers a scheduled amount to be paid for an insurance policy. What are premiums used for correct answers premiums are collected into a "pool" or "reserve to pay out claimants when needed. how ...
What is a reserve, in insurance terms? correct answers A pool of collected premiums that the insurer sets aside to pay claims Ricky was watching a baseball game at XYZ Stadium, when the railing on which he was leaning gave way and he fell two stories. As a result of his fall, Ricky broke his back...
Voorbeeld 3 van de 23 pagina's
In winkelwagenWhat is a reserve, in insurance terms? correct answers A pool of collected premiums that the insurer sets aside to pay claims Ricky was watching a baseball game at XYZ Stadium, when the railing on which he was leaning gave way and he fell two stories. As a result of his fall, Ricky broke his back...
Florida No-Fault Tort Exemption correct answers Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) correct answers 1. Significant and Permanent loss of bodily function. 2.Permanent injury oth...
Voorbeeld 2 van de 9 pagina's
In winkelwagenFlorida No-Fault Tort Exemption correct answers Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) correct answers 1. Significant and Permanent loss of bodily function. 2.Permanent injury oth...
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 Provi...
Voorbeeld 2 van de 5 pagina's
In winkelwagenActual 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 Provi...
What is an Insurance Policy correct answers An Insurance Policy is a Contract (agreement between 2 parties) Insurance Policy in the state of Florida must be? correct answers Written in order to constitute a policy Legal Definition of Insurance correct answers Contract that undertakes to indemn...
Voorbeeld 1 van de 4 pagina's
In winkelwagenWhat is an Insurance Policy correct answers An Insurance Policy is a Contract (agreement between 2 parties) Insurance Policy in the state of Florida must be? correct answers Written in order to constitute a policy Legal Definition of Insurance correct answers Contract that undertakes to indemn...
The insurer and insured agree to a specific value of insured item correct answers Agreed Value Policies Someone who has care, custody or control of another's property correct answers Bailee Claim filed by policy holder against his _ correct answers First Party Claim When a person who entru...
Voorbeeld 2 van de 11 pagina's
In winkelwagenThe insurer and insured agree to a specific value of insured item correct answers Agreed Value Policies Someone who has care, custody or control of another's property correct answers Bailee Claim filed by policy holder against his _ correct answers First Party Claim When a person who entru...
The following are basic characteristics of a property or liability insurance contract, EXCEPT: A. Personal Contract B. Conditional Contract C. Loss Settlement Contract D. Contract of Adhesion correct answers C. Loss Settlement Contract The Insurers responsibility to pay for a property loss ...
Voorbeeld 3 van de 27 pagina's
In winkelwagenThe following are basic characteristics of a property or liability insurance contract, EXCEPT: A. Personal Contract B. Conditional Contract C. Loss Settlement Contract D. Contract of Adhesion correct answers C. Loss Settlement Contract The Insurers responsibility to pay for a property loss ...
Actual Cash Value (ACV) correct answers Cost to replace property with new property of like kind and quality less depreciation. Combined Single Limit correct answers One limit per occurrence is what we pay up to Split limit correct answers What we pay up to per person and per occurrence Dedu...
Voorbeeld 2 van de 11 pagina's
In winkelwagenActual Cash Value (ACV) correct answers Cost to replace property with new property of like kind and quality less depreciation. Combined Single Limit correct answers One limit per occurrence is what we pay up to Split limit correct answers What we pay up to per person and per occurrence Dedu...
An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of correct answers The insured and insurer An insurer gives which of the following as Consideration for an insurance policy? correct answers A Promise The interest of the insured and all other persons in the prop...
Voorbeeld 2 van de 11 pagina's
In winkelwagenAn adjuster is a fiduciary agent with a responsibility of loyalty to the interest of correct answers The insured and insurer An insurer gives which of the following as Consideration for an insurance policy? correct answers A Promise The interest of the insured and all other persons in the prop...
What is an eligible building for flood insurance? correct answers A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage? correct an...
Voorbeeld 1 van de 4 pagina's
In winkelwagenWhat is an eligible building for flood insurance? correct answers A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage? correct an...
Insurance correct answers transfer of risk by contract to insurers who agree to indemnify insureds for losses Risk correct answers chance of loss pure risk correct answers only outcomes are loss or no loss personal risk correct answers premature death, insufficient income, poor health, unem...
Voorbeeld 2 van de 8 pagina's
In winkelwagenInsurance correct answers transfer of risk by contract to insurers who agree to indemnify insureds for losses Risk correct answers chance of loss pure risk correct answers only outcomes are loss or no loss personal risk correct answers premature death, insufficient income, poor health, unem...
All of the following describe insurable interest EXCEPT correct answers -Insurable Interest must exist at the time of the loss. -Insurance Interest must exist for insurance to respond. *Show a similarity between insurance and wagering* -The insured would suffer an economic loss. An Insuranc...
Voorbeeld 2 van de 6 pagina's
In winkelwagenAll of the following describe insurable interest EXCEPT correct answers -Insurable Interest must exist at the time of the loss. -Insurance Interest must exist for insurance to respond. *Show a similarity between insurance and wagering* -The insured would suffer an economic loss. An Insuranc...
A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public correct answers B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Inter...
Voorbeeld 4 van de 44 pagina's
In winkelwagenA public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public correct answers B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Inter...
Which of the following is NOT one of the duties of the Department of Financial Services? b. Dept does NOT set rates nor write policies correct answers Set rates and write policies for various company products The adjuster has a particular relationship to his principal, the insurer. Which of the ...
Voorbeeld 2 van de 12 pagina's
In winkelwagenWhich of the following is NOT one of the duties of the Department of Financial Services? b. Dept does NOT set rates nor write policies correct answers Set rates and write policies for various company products The adjuster has a particular relationship to his principal, the insurer. Which of the ...
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 correct answers Loss of Settlement Contract The Insurer's responsibility to pay for a property lo...
Voorbeeld 2 van de 9 pagina's
In winkelwagenThe 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 correct answers Loss of Settlement Contract The Insurer's responsibility to pay for a property lo...
Severability correct answers Insurance applies separately to each insured as if other insureds did not exist. Abandonment correct answers Property insurance policies usually contain a(n) __________ clause, *stating the insured cannot dump damaged property on the insurer and demand its full value....
Voorbeeld 3 van de 25 pagina's
In winkelwagenSeverability correct answers Insurance applies separately to each insured as if other insureds did not exist. Abandonment correct answers Property insurance policies usually contain a(n) __________ clause, *stating the insured cannot dump damaged property on the insurer and demand its full value....
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....
Voorbeeld 4 van de 32 pagina's
In winkelwagenFrank 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....
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