2023/ 2024 Update Florida All Lines Adjuster Exam| Questions and Answers Verified
QUESTION
The Commercial Building and Personal Property Coverage
... [Show More] form excludes all of the following
types of property, except:
A. Securities
B. Property of others in the insured's care, custody and control
C. Land
D. Patios or other paved surfaces
Answer:
B. Property of others in the insured's care, custody and control
QUESTION
Under the Commercial Building and Personal Property form, coverage for the "building"
includes:
A. Additions and extensions to the building
B. Property used to service the building
C. A heating system
D. All of the above
Answer:
D. All of the above
QUESTION
Under the Commercial Building and Personal Property form, coverage for "business
personal property" includes:
A. Furniture
B. Machinery
C. Stock
D. All of the above
Answer:
D. All of the above
QUESTION
Sinkhole collapse is covered under which of the following Cause of Loss forms?
A. Basic
B. Broad
C. Special
D. All of the above
Answer:
D. All of the above
QUESTION
A building valued at $100,000 was insured for $80,000 with a policy containing 80%
Coinsurance clause. Disregarding any deductibles, what would the company pay on a
$20,000 loss?
A. $7,500
B. $5,000
C. $15,000
D. $20,000
Answer:
D. $20,000
QUESTION
All of the following are excluded under the Commercial Building and Personal Property
form, except:
A. Furniture and fixtures.
B. Petty cash and IOUs.
C. A watch dog.
D. The insured's panel truck.
Answer:
A. Furniture and fixtures.
QUESTION
Which of the following is not covered property under a Commercial Property form?
A. Accounts, bills and currency.
B. Animals not held for sale.
C. Cost of foundations.
D. All of the above.
Answer:
D. All of the above.
QUESTION
The insured has transported a portion of his property to an exhibition trade show. It is
destroyed by a fire. What coverage would apply?
A. Property off the premises is not covered
B. Fire is not covered for this exposure
C. A limit of $10,000 would apply to cover the loss
D. Special coverage would have to be purchased to cover property off the premises
Answer:
C. A limit of $10,000 would apply to cover the loss
QUESTION
The deductible under the revised Commercial Property forms is:
A. $500
B. $1,000
C. $250
D. $750
Answer:
A. $500
QUESTION
The insured has suffered a loss as the result of a cracked steam boiler. What coverage
would apply under the Commercial Property Cause of Loss forms?
A. The loss would be covered
B. The loss is not covered
C. Only part of the loss is covered
D. Covers only the extra expense in replacing the boiler
Answer:
B. The loss is not covered
QUESTION
Before legal action may be taken against an insurer, an insured must have complied with all
terms of the policy. Any legal action must begin within ____ following a loss.
A. 6 months
B. 5 years
C. 2 years
D. 12 months
Answer:
C. 2 years
QUESTION
If the civil authority blocks access to the insured's premises because of a covered peril that
has damaged a building down the street, what period of time will the Business Income forms
pay the insured for loss of income at his/her premises?
A. One week
B. Two consecutive weeks
C. Four consecutive weeks
D. Three consecutive weeks
Answer:
C. Four consecutive weeks
QUESTION
Under the Condominium Association form, coverage is based on:
A. The Commercial Property form
B. The association agreement and bylaws
C. The Special Cause of Loss form
D. State and local ordinances
Answer:
B. The association agreement and bylaws
QUESTION
What is generally excluded on the Condominium Commercial Unit-Owners form?
A. The improvements and betterments of the unit-owner
B. Hostile fire damage
C. Building coverage
D. Inside appliances and fixtures [Show Less]