At the end of this course, you must do which of the following?
Pass the final course exam with a scored of 70% or higher
Print your certificate from
... [Show More] this website
Apply for your Insurance Adjuster license at the Florida Department of Financial Services website at www.myfloridacfo.com/division/agents
All of the above
All of the above
Which of the following is NOT one of the duties of the Department of Financial Services?
License adjusters
Set rates and write policies for various company products
Supervise the claims activity of adjusters
Investigate charges of unethical conduct of adjusters
Set rates and write policies for various company products
When an insurance licensee moves, he has how long to notify the Florida Dept. of Financial Services of his change of address?
10 Days
30 Days
60 Days
180 Days
30
An Insurance Policy is a contract with all of the following characteristics, EXCEPT
It is a personal contract.
Parties are of unequal power with ambiguities or unclear wording resolved in favor of the insured because it is a contract of adhesion.
Indemnity is not part of an insurance contract.
There are conditions imposed upon both the insurer and insured.
Indemnity is not part of an insurance contract.
An insurance contract may contain a "gray area" or an ambiguity, that is generally resolved in favor of the insured because insurance policies are contracts of:
Indemnity
Cohesion
Adhesion
Conditions
adhesion
Strict or Absolute Liability
applies to school systems.
must have failure to use "due care.
"considers the actions of a prudent person.
is assigned by law or statute.
is assigned by law or statute.
Risks that are insurable are:
Speculative risk
Pure risk
Both A & B
None of the above
Pure Risk
The goal of insurance is to restore the insured to the same economic position as before the covered loss occurred, this is the principle of:
Adhesion
Actual Cash Value
Indemnity
Severability
Indemnity
Firemen caused water damage to a property by spraying water to put out a fire. If the property insurance policy listed "fire" as the only named peril:
The water damage is not a covered peril.
The fire dept. has liability for the water damage.
The water damage is covered due to the concept of proximate cause.
The Fire damage is covered but not the water damage due to proximate cause.
The water damage is covered due to the concept of proximate cause.
XYZ Insurance Corp. filed its corporate charter in Tallahassee and has its home office in Tampa:
In Florida, XYZ is a domestic insurer.
In Florida, XYZ is a foreign insurer.
In Florida, XYZ is an alien insurer.
None of the above is true.
In Florida, XYZ is a domestic insurer.
All of the following may qualify for a dwelling policy EXCEPT:
A 6 - family dwelling
A beach house owned by Acme Corporation
A small single family home, rented by a salesman
An old frame home, built upon piers, valued at $10,000 and occupied by the owner, Mrs. Jones. Company underwriting minimum for a homeowner policy is $50,000.
A 6 - family dwelling
All of the following are eligible for a Homeowners Policy EXCEPT:
A person who rents an apartment
A condominium owner
Owner-occupant of a four-family dwelling
A beach house owned by Acme Corporation
A beach house owned by Acme Corporation
Which of the following is NOT covered under the HO - Coverage C, Personal Property?
An insured's suitcase and clothing, valued at $1,500, stolen from his motel room while at a convention.
A fire breaks out in the residence and an overnight guest loses his clothes in the fire.
The insured's daughter's golf clubs are stolen from her locker at high school.
The dead fish when the insured accidentally overturns his tropical fish tank and all the fish die from lack of oxygen
The dead fish when the insured accidentally overturns his tropical fish tank and all the fish die from lack of oxygen
Which of the following forms is "all risks" on the dwelling policy?
DP-1, or the basic form
DP-2, or the broad form
DP-3, or the special form
None of the above, since "all risks" is not available on a dwelling policy
DP-3, or the special form
Jane has a dwelling policy with the house insured for $40,000. If her detached shed, which is valued at $4500, is destroyed by a covered peril, what can she expect?
Nothing, unless she has endorsed her policy with "unattached structures" coverage.She can expect the $4500 to be paid, since her policy protects her up to $40,000 for structures.She can expect $4,000 to be paid, because unattached structures are covered up to 10% of the dwelling amount.She can expect $4,000 to be paid, only if she has the proper endorsement to her dwelling policy
She can expect $4,000 to be paid, because unattached structures are covered up to 10% of the dwelling amount.
Homeowners Policies usually insure property for which of the following?
Rising water - Flood, back up of sewer or drainInherent vice, underground seepage, governmental actionFreezing, wear & tear, marring, deterioration
Fire, lightning, theft
Fire, lightning, theft
Which of the following would be excluded (NOT covered) under a personal articles floater on an "all risks" basis?
Insects destroy a valuable postage stamp worth $500A personal art collection on display at a museum show is stolenA sophisticated telescope is damaged in a fireAll of the above
Insects destroy a valuable postage stamp worth $500
Which of the following is false concerning flood insurance?
A community applies for flood coverage and during this time, it is in the "emergency program."
To be insured for flood, a new building only must have the walls up.
Two acres must be inundated with water - flooded.Loss to a detached garage would be settled on an actual cash value basis.
To be insured for flood, a new building only must have the walls up. [Show Less]