FL0RIDA ADJUSTERS LICENSE PRACTICE EXAM 130
QUESTIONS WITH 100% CORRECT ANSWERS/A+ GRADE
CORRECT ANSWERS/A+ GRADE GUARANTEED/2023 VERSION
Which of the
... [Show More] following is NOT one of the four critical elements of a contract?
(A) A mutual understanding and agreement with the terms of the contract.
(B) Written evidence of the agreement and its terms.
(C)A legal purpose.
(D)Consideration, consisting of money or a promise of performance. Correct Answer: (B)
Written evidence of the agreement and its terms.
Assume that five years ago a couple insured their home for [its then appraised value of] $60,000.
Two weeks ago they had a stove fire resulting in an estimated loss of $15,000 for repairs. The
adjuster finds that the value of their home is now $100,000, but the home is still only insured for
$60,000 and has a deductible of $500. The policy has an 80% coinsurance clause. How much
should the adjuster pay to the couple?
(A) $11,500
(B) $10,875
(C) $14,500
(D) $15,000 Correct Answer: (B) $10,875
Negligence is described as:
(A) Liability imposed by jury verdict.
(B) Liability arising from statutorily imposed liability regardless of fault.
(C) Fault that arises from doing something you shouldn't have done, or not doing something you
should have done.
(D) Fault imposed on you because you have a greater ability to pay. Correct Answer: (C) Fault
that arises from doing something you shouldn't have done, or not doing something you should
have done.
Describe the coverage's provided in a split limit policy of 10/20/10.
(A) The coverage provides $10,000 in property damage limits, $20,000 in bodily injury for any
one individual, and $10,000 for bodily injuries to each additional person injured.
FL0RIDA ADJUSTERS LICENSE PRACTICE EXAM 130
QUESTIONS WITH 100% CORRECT ANSWERS/A+ GRADE
(B)CORRECT The coverage provides $10,000 for bodily injury to one individual, $20,000 for property ANSWERS/A+ GRADE GUARANTEED/2023 VERSION
damage, and $10,000 for bodily injuries to each additional person injured.
(C) The coverage provides up to $10,000 of liability protection for bodily injury to any one
individual, an aggregate of $20,000 for all bodily injuries regardless of how many individuals,
and $10,000 for medical payments coverage for the insured's bodily injury.
(D) The coverage provides up to $10,000 of liability protection for bodily injury to any one
individual, an aggregate of $20,000 for all bodily injuries regardless of how many individuals,
and $10,000 for property damage. Correct Answer: (D) The coverage provides up to $10,000 of
liability protection for bodily injury to any one individual, an aggregate of $20,000 for all bodily
injuries regardless of how many individuals, and $10,000 for property damage.
A couple has insured their home for $150,000. A fire ensues and guts their home, resulting in a
total loss. An appraisal of the home prior to loss results in a value of $120,000, yet the adjuster is
required by law to pay the couple $150,000. This is known as the application of:
(A) The valued policy law.
(B) Payment of policy limits plus a penalty for over-insuring the home.
(C) Replacement cost value
(D) Actual cash value Correct Answer: (A)The valued policy la [Show Less]