Florida All Lines Adjuster 2023 Exam| Verified Solutions | Questions and Answers| 100% SCORE
1. If all 5 of Jane's friends are Florida residents who own
... [Show More] automobiles, how much of Jane's PIP coverage is available for each of the 5 friends riding with her in the borrowed minivan?
Answer: 0
2. What if Jane has 5 children and she is taking them all to Disney for the day ... how much total PIP coverage is available from Jane's PIP to Jane and her 5 children in the friend's minivan?
Answer: $60,000
3. How much would Jane's PIP pay if the auto accident caused injuries to Jane that created $12,000 in medical bills and Jane had a $1000 PIP Deductible?
Answer: $8800
4. A health insurance policy was issued containing the provision that the insurance company must renew the policy to a particular age, but could adjust premiums. What is this policy called?
Answer: A guaranteed renewable policy
5. A health insurance policy was issued containing the provision that the insurance company must renew the policy to a particular age and could not adjust the premiums. What is this policy called?
Answer: A non-cancelable policy
6. A health policy often has a provision which states a period of time between issuance and acceptance before sickness benefits begin. This eliminates people only buying health insurance when they find out that they are ill. This is called a/an:
Answer: Elimination Period
7. All of the following are true for Medicare Supplement Insurance EXCEPT:
Answer: Policy must contain a 180 day "free look"
8. What type of health insurance plan usually offers the broadest coverage at the lowest cost with the most freedom of choice?
Answer: Group Insurance PPO
9. Insurance is considered a two-party contract, Surety Bonds are considered
Answer: a three-party contract
10. A builder contracted for framing on a new section of a hospital. There is a surety bond purchased to guarantee completion of the project. Which of the following best describes the hospital position in the surety bond?
Answer: The hospital is the obligee
11. The Surety attempts to avoid default by investigating the principal with regard to:
Answer: CharacterCapabilityCollateral
12. The Surety bond that guarantees that companies will not misrepresent securities is
Answer: Blue Sky Bond
13. A Surety Bond that guarantees the performance of a person appointed by a court, or named in a will or trust to take possession of property, collect assets, make investments, pay debts, sell assets, carry on a business, distribute property to heirs, or any related tasks is what type ?
Answer: Fiduciary Bond
14. If an insured's administrative assistant fraudulently forged the insured's name on a check, and cashed it, which of the following would cover this event?
Answer: Employee theft
15. Under one form of crime insurance, losses must occur during the policy period and be discovered within 1 year of policy expiration. This is:
Answer: The Loss Sustained Form
16. Which of the following type of employee theft best fits a business with a large turnover in its personnel?
Answer: The Blanket coverage [Show Less]