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6.20 ALL LINES ADJUSTER- FLORIDA- REVIEW OF QUIZZES QUESTIONS AND ANSWERS
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6.20 ALL LINES ADJUSTER- FLORIDA- REVIEW OF QUIZZES QUESTIONS AND ANSWERS
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6.20 ALL LINES ADJUSTER- FLORIDA- REVIEW OFQUIZZES QUESTIONS AND ANSWERS 2024 - 2025
The deductible ANS - The dollar amount that the insured pays before the insurer is required to pay the
remainder of the loss is known as?
Replacement cost ANS - Which loss settlement provides new for old?
the claims adjuster's role in the insurance industry includes ANS - Give appropriate legal advice and
write binding contracts
following are examples of a peril ANS - Lighting, Explosion and Fire
The abandonment clause ANS - The clause that prohibits the insured from dumping damaged property
on the insurance company and demanding to be paid in full is?
Liberalization ANS - When a policy change results in broadened coverage with no additional premium,
the insured automatically receives the benefit under the principle of?
Risk ANS - The chance of financial loss is known as?
Percentage ANS - Hurricane insurance in coastal areas in Florida is written subject to which of the
following deductibles?
Severability ANS - Insurance may apply separately to each insured, as if the other insureds did not exist.
This is known as the doctrine of?
The principle of proximate cause ANS - When there is an unbroken connection between an occurrence
and the damage that arises from the occurrence, and all the resulting damage happened on account of
that occurrence, this is known as?
characteristics of a contract ANS - Consideration must be given to at least one party
,Primary ANS - When two or more policies apply to the same loss, the one that pays first is called?
Mortgagee Clause ANS - The clause that protects the lender in a real property policy is the?
Indemnity ANS - The concept that one should not profit from the payment provided by an insurance
policy is known as?
Property or first-party insurance ANS - Payment the insurance company makes directly to the insured
is?
Written ANS - To be considered an insurance contract, a policy must be?
Subrogation ANS - When the insured transfers his/her rights to collect for damages to the insurer, it is
known as?
The insured ANS - If an insurance policy is unclear or ambiguous, in whose favor does the policy
respond?
Insurable interest ANS - A partial owner of a building cannot receive full value for the building in the
event of a loss because of?
Comparative negligence ANS - Reduces the insured's damages by the degree of negligence
the following are part of an insurance policy ANS - Exclusions, Declarations and Endorsementd
ACV ANS - replacement cost minus depreciation
The insured's house is totally destroyed in a fire. The house is insured for $200,000. The adjuster who
investigates the claims determines the ACV of the home is $185,000. ANS - The Florida Valued Policy
Law requires the insurer to pay $200,000
,describe a franchise deductible ANS - No payment is made until the loss equals or exceeds the amount
of the deductible and then the loss is paid in full
All of the following are characteristics of an insurance contract EXCEPT? Personal, Private, Conditional,
Adhesion? ANS - Private
If a claimant is represented by an attorney, the adjuster should? ANS - Only meet with the client when
the attorney is present
Adjusters should advise claimants on? ANS - claims information
An adjuster is required to notify a claimant when a claim is denied. The notification must be? ANS -
Written
The term ethics refers to? ANS - service to others, personal respect and proper mode of conduct
When an adjuster deals with a claimant who is not a policyholder, this claim is known as an? ANS - third
party claim
The successful adjuster/negotiator should understand that communication includes all of the following
EXCEPT?
Select one:
A. Verbal and non-verbal messages
B. Questioning
C. Listening
D. Decision-making ANS - Decision-making
Which of the following is not a duty of the claims adjuster?
Select one:
A. Investigating
, B. Evaluating
C. Negotiating
D. Counseling ANS - Counseling
The adjuster's duty to the insurer is best described as?
Select one:
A. Friendly
B. Factual
C. Fun
D. Fiduciary ANS - Fiduciary
Errors and Omissions claims are a result of?
Select one:
A. unethical behavior
B. lack of knowledge or information
C. Both unethical behavior and lack of knowledge or information are correct
D. Neither unethical behavior and lack of knowledge or information are correct ANS - Both unethical
behavior and lack of knowledge or information are correct
Unethical behavior affects?
Select one:
A. The claimant
B. The adjuster
C. All of the above
D. The entire company ANS - All of the above
All of the following are components of negotiating EXCEPT?
Select one:
A. The issue should be negotiable
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