Which of the following is NOT one of the duties of the Department of Financial Services?
a. License adjusters
b. Set rates and write policies for
... [Show More] various company products
c. Supervise the claims activity of adjusters
d. Investigate charges of unethical conduct of adjusters
B. Set rates and write policies for various company products
The adjuster has a particular relationship to his principal, the insurer. Which of the following best describes this relationship?
a. It is a fiduciary relationship.
b. It is a functional relationship.
c. It is a final relationship.
d. It is a festering relationship.
A. It is a fiduciary relationship.
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The Claims Adjuster's role in the insurance industry includes all the following EXCEPT:
a. Facilitating payment of legitimate claims
b. Replies to communication on a claim within 14 calendar days
c. Replies to Department of Insurance inquires on a claim within 21 calendar days
d. Gives appropriate legal advice and writes binding contracts
D. Gives appropriate legal advice and writes binding contracts
All of the following activities are illegal for an adjuster, EXCEPT:
a. Give advice which is of a legal nature
b. Use only company forms to prepare releases
c. Encourage a claimant to make a quick decision on an offer to settle
d. Fail to make claimant aware of potential litigation for claimant's actions
B. Use only company forms to prepare releases
All of the following are part of the conditions imposed upon the insured in the event of a loss, EXCEPT:
a. Insured should inventory property.
b. Insured should protect damaged property to prevent further damage.
c. Insured should negotiate on behalf of the company for 3rd party claimants.
d. Insured should allow inspection of damages by the insurance company.
C. Insured should negotiate on behalf of the company for 3rd party claimants.
All of the following are part of the conditions imposed upon the insured in the event of a loss, EXCEPT:
a. Insured should inventory property.
b. Insured should protect damaged property to prevent further damage.
c. Insured should negotiate on behalf of the company for 3rd party claimants.
d. Insured should allow inspection of damages by the insurance company.
C. Insured should negotiate on behalf of the company for 3rd party claimants.
A claimant was given a settlement, which stipulated, that if the claimant did not contact the company within a certain period of time, the claim would automatically close. No release was signed. Which of the following best describes this method of settlement?
a. Full release
b. No release or walk-away
c. Advanced payment
d. Scheduled payment
B. No release or walk-away
The Continuing Education requirement to maintain an Adjuster license in Florida is:
a. Not required for any adjuster license.
b. Twenty four hours every two years.
c. Ten hours every two years.
d. Only required for Workers Comp Adjusters
B. Twenty four hours every two years.
An adjuster received written notice from the Department of Financial Services regarding a claim. What length of time does he have to respond to the inquiry?
a. 10 calendar days
b. 14 calendar days
c. 21 calendar days
d. 30 calendar days
C. 21 calendar days
Comparative negligence is determined through
a. Investigation & Analysis
b. Agreement between parties or by mediation or arbitration
c. Judge and/or jury
d. All of the above may be used to determine comparative negligence
D. All of the above may be used to determine comparative negligence
Adjuster Jane moved from one city in Florida to another. What length of time does she have to notify the Insurance Department of the address change?
a. 10 days
b. 30 days
c. 60 days
d. 90 days
B. 30 days [Show Less]