1. 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: D. All liste...
Florida claims adjuster Exam Questions With Correct S
olutions
1. 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: D. All listed interests
Remember that the insurer is not responsible to know the degrees of interest. In
the event of a loss, one payment is made by the insurer and it is up to the additional
interests on working out their share.
2. Insurance applies separately to each insured as if other insureds did not
exist. This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above: A. Severability
3. Property insurance policies usually contain a(n) clause,
stating the insured cannot dump damaged property on the insurer and
demandits full value:
A. Pro Rata
B. Abandonment
C. Liberalization
D. All of the above: B. Abandonment
4. A(n) is one wherein economic loss would be suffered from an
adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest: D. Insurable Interest
5. States that if the insurer adopts a revision which would broaden coverage
without additional premium within some period of time prior to the policy
period or during the policy period, the insured receives the benefit of such
Florida claims adjuster exam questions with correct sol
utions
,Florida claims adjuster Exam Questions With Correct S
olutions
broadened coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization: D. Liberalization
The time frame is typically 60 days.
Florida claims adjuster exam questions with correct sol
utions
,Florida claims adjuster Exam Questions With Correct S
olutions
6. The states that when there is an unbroken connection be-
tween an occurrence and damage that grows out of the occurrence, then the
resultant damage is all a part of the occurrence.
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance: A. Doctrine of Proximate Cause
For example, if a property insurance policy covers the peril of fire but further
damage is caused by smoke, water used to extinguish, and the process of moving
property away - fire is considered to be the *proximate cause* of all of the damage.
7. The Loss Settlement Valuation that subtracts an allowance for deprecia-
tion is defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above: A. Actual Cash Value
8. A policy condition, either based on information in the insured's application
or inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above: A. Warranty
9. 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: C. Loss of Settlement Contract
10. 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?
Florida claims adjuster exam questions with correct sol
utions
, Florida claims adjuster Exam Questions With Correct S
olutions
A. Conditional Contract
B. Adhesion Contract
C. Indemnity Contract
D. All of the Above: A. Conditional Contract
"may be conditioned"
Florida claims adjuster exam questions with correct sol
utions
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