FLORIDA CLAIMS EXAM Complete Quiz with Verified Answers 100+ Graded Exam Questions and Solutions
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Course
Florida Public Adjuster 3-20
Institution
Florida Public Adjuster 3-20
FLORIDA CLAIMS EXAM
Complete Quiz with Verified Answers
100+ Graded Exam Questions and Solutions
1) Unauthorized Entity - ANSWER An entity that is required to be
licensed or registered with the Florida Office of Insurance
Regulation but is operating without the proper authorization is
ide...
FLORIDA CLAIMS EXAM
Complete Quiz with Verified Answers
100+ Graded Exam Questions and Solutions
1) Unauthorized Entity - ANSWER ✔ An entity that is required to be
licensed or registered with the Florida Office of Insurance
Regulation but is operating without the proper authorization is
identified as an unauthorized insurer.
2) To be Authorized and transact business in FL what must you have
? - ANSWER ✔ Certificate of Authority.
3) General Lines Agent 2-20 - ANSWER ✔ Licensed to write
property/casualty, surety, or health insurance.
4) Customer Representative 4-40 - ANSWER ✔ Must be licensed,
appointed by a General Lines Agent and may assist in transactions
in the OFFICE ONLY.
5) Limited Customer Representative 4-42 - ANSWER ✔ Must be
licensed, appointed by a General Lines Agent and transact AUTO
insurance in the OFFICE ONLY.
6) All Lines Claims Adjuster 6-20 - ANSWER ✔ Investigates,
Evaluates, and Negotiates Claims.
7) A General Lines Adjuster is required to do what ? - ANSWER ✔
Participate in 24 hrs of continuing education every 2 years.
8) A licensee must notify the Department in writing in how many
days for change of name, address, phone number or email ? -
ANSWER ✔ 30 days.
,9) Loss Sustained - ANSWER ✔ Cover only losses that both
occurred and were discovered during the policy period, or within
one year of it's expiration.
10) Discovery - ANSWER ✔ Any loss discovered during the
policy period or within 60 days after it's expiration is called
regardless of when it occurred.
11) Property Covered - ANSWER ✔ The policy covers only
property the named insured owns or holds or for which the insured
is legally liable, and for the benefit of the insured.
12) Safe Depository - ANSWER ✔ Covers the named insureds
legal liability if it is the safe depository for customers property.
Perils covered include burglary, robbery, destruction on damage.
13) Valuation - ANSWER ✔ Money is valued at its face value;
securities at their value on the day loss is discovered; and other
property at actual replacement cost or, if less, cost to repair.
14) Government Crime - ANSWER ✔ A slightly different set of
basic Crime Coverage Forms is tailored for insuring governmental
entities.
15) Guests' Property - ANSWER ✔ Covers the named insureds
legal liability for guest's property while in a safe deposit box or
while the property is inside the premises or in the named insureds
possession.
16) Commercial Crime Forms - ANSWER ✔ Crime Insurance
may be written as a separate policy, with it's own Declaration and
Conditions, or as a package policy, bundled together with
Employee Dishonesty.
, 17) Forgery Or Alteration - ANSWER ✔ Provides coverage for
loss by forgery or alteration of negotiable instruments, such as
checks, drafts, promissory notes or similar instruments calling for
payment of a sum certain in money.
18) Computer Fraud - ANSWER ✔ Will pay for the loss of or
damage to money, securities and other property resulting from
using a computer to fraudulently transport from inside the insureds
promises to a person or place outside the premises, which
encompasses anywhere in the world.
19) Extortion - ANSWER ✔ Covers for all types of property,
when surrendered away from the premises as a result of a threat to
do bodily harm to the insured or an employee, or to a relative or
invitee of either, who is being held captive.
20) Clients Property - ANSWER ✔ Offers coverage for non-
owned property for which the insured is legally liable while the
property is on the premises of the insureds client.
21) Lesses of Safe Deposit Boxes - ANSWER ✔ Covers theft,
disappearance, or destruction of securities; and burglary or robbery
of property other than money or securities, all from within
designated places of safe depository.
22) Funds Transfer Fraud - ANSWER ✔ Is designed to cover
loss due to the fraudulent transfer of funds through the use of a
telephone or fax machine.
23) Peril - ANSWER ✔ Somthing t√dhat causes a loss.
24) Hazard - ANSWER ✔ Something that increases the
probability that a loss will occur.
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