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Claims Adjuster Florida 2024/2025 already graded A+
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Claims Adjuster Florida 2024/2025 already graded A+
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Claims Adjuster FloridaFor purposes of insurance, a "loss" is best defined as: - ANSan unwelcomed, unplanned
reduction in economic value
An automatic sprinkler system in a hotel building is a risk reduction measure because it: -
ANSreduces the amount of damage that a fire is likely to do
Insuring a new restaurant against business failure is not possible because business success or
failure is: - ANSa speculative risk
Which of the following is an example of pure risk? - ANSthe possibility of a business being
flooded
Zenith Insurance Company issues a policy to Best Manufacturing Company. A dispute arises
between Zenith and Best on the meaning of an ambiguous clause in their contract. The matter
goes to court, which can be expected to interpret the clause in a manner that: - ANSfavors Best
Manufacturing
The fact that insurance policy language is written by an insurance company and is
nonnegotiable makes insurance policies: - ANScontracts of adhesion
Which of the following correctly identifies three elements that must be present to create an
enforceable contract? - ANSacceptance, consideration, and offer
Rhonda's parents bought her a car for her sixteenth birthday and made her responsible for
maintaining and insuring it. However, when Rhonda applied for auto insurance after getting her
driver's license, she was told that she could not enter into a binding insurance contract because,
according to the law in her state, a 16-year-old does not qualify as a(n): - ANScompetent party
A fire severely damages Carl's home, making it uninhabitable. He moves his family to a hotel
while the house is repaired. The additional expenses incurs in housing the family are considered
what type of loss? - ANSindirect
Butch's Meat Market loses electrical power during a flood. The business closes for several days,
during which time there is no refrigeration and a large quantity of meat spoils. The loss of the
meat is what type of loss? - ANSconsequential
"Replacement cost minus physical depreciation" describes which type of loss valuation method?
- ANSactual cash value
,From a property insurance perspective, which of the following is NOT a basic type of
construction? - ANSsteel
For an insurer to pay a property insurance claim, when must the policyholder have an insurable
interest in the insured property? - ANSat the time of the loss
Ken's house has an exterior layer of brick that covers wooden walls supported by wooden
2-by-4 studs. What type of construction does Ken's house have? - ANSmasonry veneer
Corinne purchased her home with a 10 percent down payment and a 90 percent mortgage from
Sidney Bank. Why does Sidney Bank have an insurable interest in Corinne's house? - ANSThe
bank faces the possibility of a loss if Corinne's house is damaged or destroyed.
All of the following are perils EXCEPT:
texting while driving
theft
lightning
windstorm - ANStexting while driving
A dump truck collided with a tall oak tree in Marian's front yard. The tree fell onto her house,
breaking a glass picture window and knocking a lamp off the table inside it. Sparks from the
lamp started a fire that destroyed half the house. What is the proximate cause of the damage to
Marian's house? - ANSthe collision
All of the following causes of loss are commonly listed as excluded perils in open perils property
insurance policies, EXCEPT:
wear and tear
flood
war
vandalism - ANSvandalism
While a homeowner is out of town, a group of teenagers break into her house, throw a beer
party, and damage the interior without stealing anything. Connie's resulting property insurance
claim will be covered if her policy covers what peril(s)? - ANSvandalism
Laura owns poisonous snakes on her property, which she uses for venom research purposes.
One of the snakes escaped and within hours bit a neighbor who sued Laura. Though Laura was
not negligent in her ownership of the snakes, the plaintiff easily won the suit based on the
doctrine of: - ANSstrict (absolute) liability
Which one of the following incidents is an example of vicarious liability?
Rudy is held responsible for an accident caused by his employee.
Dominic is held responsible for food poisoning due to a pizza he delivered.
Edie is held responsible for striking a pedestrian with her bicycle.
,Lilly is held responsible for her cat's injury to Lilly's guest. - ANSRudy is held responsible for an
accident caused by his employee.
Bill's children have grown up and moved away, but the tree house that he built for them now
draws other neighborhood children despite his handmade "No Trespassing" sign. If a neighbor's
child is injured by falling from the tree house, Bill might be held liable for the child's injuries
under what legal doctrine or principle? - ANSattractive nuisance
Lorraine was parking her car when her brakes failed, and she struck the car next to her, which
was owned by Marty. In this case, all the following statements are correct EXCEPT:
The rolling of Lorraine's car into Marty's car was the proximate cause of the damage.
The costs to repair Marty's car represent compensable damages.
The accident was a breach of duty on Lorraine's part.
Lorraine had a duty to keep her car from striking Marty's car. - ANSThe rolling of Lorraine's car
into Marty's car was the proximate cause of the damage.
The gradually expanding brown spot on the ceiling of his barbershop suggests that Edmond
might have a plumbing leak, but he ignores it because any drips from the ceiling fall into a sink.
When the ceiling collapses because of water damage, Edmond finally submits an insurance
claim that the insurer denies because his policy has an exclusion for: - ANSwater leakage or
seepage
Many endorsements are attached to Bettie's policy. If she examines them closely, she will
probably find one or more endorsements that do all the following EXCEPT:
expand coverage to cover a specific exposure
add exclusions
eliminate an exclusion
cancel the policy - ANScancel the policy
Why do insurance policies use quotation marks with certain words and phrases? - ANSto
identify words and phrases that are defined in the policy
Which one of the following is NOT a type of provision found in property and casualty insurance
policies?
declarations
insertions
definitions
conditions - ANSinsertions
The standard mortgage (mortgagee) clause in a property insurance policy covering real property
does which of the following?
-It requires the lender to purchase property insurance on the mortgaged property.
-It ensures that the mortgage lender is paid if mortgaged property suffers a loss.
, -It makes the lender the owner of the property if the borrower does not maintain insurance on
the mortgaged property.
-It requires the lender to pay off the mortgage should a loss occur on the mortgaged property. -
ANSIt ensures that the mortgage lender is paid if mortgaged property suffers a loss.
With respect to property and casualty insurance policies, "subrogation" refers to: - ANSthe
insurer's right to recover its claim payment from the party that was responsible for the loss
When a bank is named as a mortgagee in a customer's homeowners insurance policy, the bank:
- ANSis entitled to advance written notice of any policy cancellation
While working at his service station, Bert mistakenly fueled a customer's truck with gasoline
rather than diesel fuel, damaging the truck's engine. In responding to the trucker's liability claim
for damages, Bert's insurance policy requires him to perform all the following duties EXCEPT: -
ANStry to settle the claim on his own
How do public adjusters primarily differ from staff or independent adjusters? - ANSPublic
adjusters represent insureds, while other adjusters represent insurers.
Most policies require the insured to do all of the following EXCEPT:
notify the insurer promptly
identify the cause of a loss
protect the property from further damage
notify the police if the law has been violated - ANSidentify the cause of a loss
When settling a property claim, an insurer may offer the insured a choice of each of the
following EXCEPT:
payment of the insured value of the property
replacement of the damaged property
reduction in premium to insure the damaged property
reparation of the damaged property - ANSreduction in premium to insure the damaged property
A claims adjuster is required to maintain a complete and accurate claim file for all of the
following reasons EXCEPT:
to support denial of the claim
to record the activities that occurred during the adjustment of the claim
to facilitate examination by insurance regulators
to permit others to service the claim if the adjuster is unavailable - ANSto support denial of the
claim
Jeff is a licensed insurance agent in both New York and Florida. He is was charged with
embezzlement in New York, and pleaded guilty to the charge on March 1. He must notify the
Florida Department of Financial Services of the charge within how many days? - ANS30
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