Florida 3-20 Public Adjusters State Exam (Set 1) Study Guide Solutions
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Course
Adjuster
Institution
Adjuster
Florida 3-20 Public Adjusters State Exam (Set 1)
Study Guide Solutions
The insurer and insured agree to a specific value of insured item - Ans:-Agreed Value Policies
Someone who has care, custody or control of another's property - Ans:-Bailee
Claim filed by policy holder against his _ - Ans:-Fi...
Any person who investigates or adjusts losses on behalf of either an insurer or a self-insured - Ans:✔✔-
Independent Adjuster
The result of an insured's tort or wrongdoing. Consequences of a loss or amount or type of losses
suffered - Ans:✔✔-Damages
Requires the insured to insure the named property for a specific amount of insurance as required by the
insurance company - Ans:✔✔-Agreed Value
Physical harm to tangible property caused by peril (loss to property or person in which a covered peril is
the proximate cause of damage or destruction) - Ans:✔✔-Direct loss
The entity that is the "recipient" to the Principal - Ans:✔✔-Obligee
Insurance contracts are written on a take it or leave it basis to the policy owner. - Ans:✔✔-Adhesion
Event or circumstance that causes damage - Ans:✔✔-Occurance
Coverage provides for payment of losses if civil authority denies access to the insured premises due to a
covered peril - Ans:✔✔-Civil Authority
Voluntary relinquishment of a known legal right - Ans:✔✔-Waiver
An insurer domiciled outside the state where it writes insurance - Ans:✔✔-Foreign
A state officer who administers the state's insurance laws and regulations - Ans:✔✔-Commissioner
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