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A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public - ANSWER B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Interim Report C. Full Report D. None of the above - ANSWER A. Field Report States have adopted statutes regarding claims adjusting. To avoid unfair treatment to a claimant the adjuster must not: A. Prompt...

Severability - ANSWER Insurance applies separately to each insured as if other insureds did not exist. Abandonment - ANSWER Property insurance policies usually contain a(n) __________ clause, *stating the insured cannot dump damaged property on the insurer and demand its full value.* Insurable Interest - ANSWER One wherein economic loss would be suffered from an adverse happening to the subject.

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 - ANSWER 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 wor...

Jane has $150,000 homeowners policy with a 3% percentage deductible. One night, In oven fire destroys her kitchen, causing $50,000 in damage. How much of the damage falls under Janes responsibility? - ANSWER $4,500 Xavier owns a small insurance company. Recently the company want to bid to ensure a new housing development in Omaha, Nebraska. His company can handle any claims that arise, but if a series of tornadoes were to tear through the area and destroy the entire development, Xavier's com...

claim in the property/casualty industry Is defined as: - ANSWER an assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damages when you purchase insurance, you are buying: - ANSWER peace of mind that if an insured event does occur, that the insurance company will keep its promise and provide the financial protection that you purchased

Manny is purchasing a Commercial Property policy with a Business Income form included. Manny can select from any of the following as a method to provide coverage, while avoiding the coinsurance requirement, EXCEPT: - ANSWER The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - ANSWER Replacement cost minus

The following are basic characteristics of a property or liability insurance contract, EXCEPT: A. Personal Contract B. Conditional Contract C. Loss Settlement Contract D. Contract of Adhesion - ANSWER C. Loss Settlement Contract The Insurers 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?

Those who are eligible for coverage under the Florida Automobile Joint Underwriting Association are? - ANSWER Military Personnel A non-resident owning an automobile in Florida A non-resident subject to Florida no-fault law A forcible entry into locked premises and the carrying away of the property of others is a definition of: - ANSWER Burglary The inland marine coverage form that covers clothing, cameras and other portable property worn and carried by tourists and travelers is a: - ANS...

Florida No-Fault Tort Exemption - ANSWER Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) - ANSWER 1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death

There are several important statutory requirements pertaining to contracts made by public adjusters: - ANSWER Must state the type of claim, including an emergency claim, non-emergency claim or supplemental claim. Requires the signatures of all named insureds. If the signatures of all named insureds are not available, the public adjuster must submit an affidavit signed by the available named insureds attesting that they have authority to enter into the contract and settle all claim issues on be...