Florida adjuster exam 2 - Study guides, Class notes & Summaries

Florida Adjuster Exam 2uestions with correct Answers

Adjuster Pro - Florida Certified Adjuster Glossary Exam Prep 2023. Accumulated Depreciation - ANSWER The total decrease in an item's value over a period of time. Formula: (Annual Depreciation x Number of years used) Actual Cash Value (ACV) - ANSWER A valuation method used by insurers to reflect an item's current market value right before being damaged or destroyed. Formula: (Replacement cost - Accumulated Depreciation) Adhesion - ANSWER One of the characteristics of an insurance contrac...

Florida Claims Adjuster Exam 2023 1. Peril: Something that causes a loss. 2. Hazard: Something that increases the probability that a loss will occur. 3. Warranty: A policy condition, either based on information in the i nsureds appli- cation or inserted by the insurer. It is a guarantee of a fact. 4. Misrepresentation: An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 5. Concealment: Th...

What is an eligible building for flood insurance? A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage? Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A? No, HO-4 (Renters personal property) What is casual labor in...

Florida Adjuster Exam 2

FLORIDA ADJUSTER EXAM LATEST 2023 ACTUAL EXAM 200 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |AGRADE FLORIDA ADJUSTER EXAM LATEST 2023 ACTUAL EXAM 200 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |AGRADE FLORIDA ADJUSTER EXAM LATEST 2023 ACTUAL EXAM 200 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |AGRADE

Florida Claims Adjuster Exam Questions with Correct Answers 1 / 36 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 ma...

Peril - ANSWER Something that causes a loss. Hazard - ANSWER Something that increases the probability that a loss will occur. Warranty - ANSWER A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation - ANSWER An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment - ANSWER The failure of the insured to reveal relev...

Liability insurance policies are what kind of contracts - ANSWER-third party contracts third party contracts do what - ANSWER-promise to pay on behalf of the insured all damages two forms of legal liability - ANSWER-civil and criminal liability what is a tort - ANSWER-A civil wrong who is the tortfeasor - ANSWER-someone who committed the tort joint tortfeasor - ANSWER-two or more people who commit a single tort in civil lawsuit, the tortfeasor is referred to as - ANSWER-the def...

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review Already Passed Peril Something that causes a loss. Hazard Something that increases the probability that a loss will occur. Warranty A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment The fail...