FLORIDA ALL LINES ADJUSTER EXAM 200 QUESTIONS
WITH 100% COMPLETE AND CORRECT ANSWERS/A+
GRADE
The insured has filed a claim under the "Business
... [Show More] Income Department Properties -
Broad Form" because the primary buyer of products and services from the business has
filed for bankruptcy under this form the primary buyers business would be known as -
Correct answer-A recipient location
recipient location - Correct answer-Businesses who support insured by being the
primary buyer for their products
HO-3 (special form) - Correct answer-covers the dwelling and other structures on a riskof-direct-physical loss basis. All direct physical losses are covered except those losses
specifically excluded. Personal property is covered on a named perils basis
HO-5 Comprehensive Form - Correct answer-provides open perils coverage ("all-risks
coverage") on the dwelling, other structures and personal property.
HO-2 (broad form) - Correct answer-covers the dwelling, other structures, and personal
property on a named perils basis
HO-4 (contents broad form) - Correct answer-Only covers a tenant's personal property
on a named perils basis
The dwelling is insured for 200,000 under DP-2 dwelling policy how much coverage
applies to the barn? - Correct answer-Nothing farm property are not eligible under the
dwelling policy.
A Covered Auto includes those vehicle(s) listed on the Declarations, plus any trailers or
wagons owned by the Named Insured, any newly acquired vehicles, and any vehicle
used as a . - Correct answer-Temporary Substitute Auto
The covered auto is defined in the policy as all of the following EXCEPT:
A) any additional auto acquired in the past 30 days.
B) any auto shown in the declarations.
C) any auto used as a temporary substitute while an insured auto is being repaired.
D) any trailer owned by the insured or spouse. - Correct answer-Answer: A
An additional auto acquired during the policy period is considered a covered auto.
However, some restrictions do apply. For example, if the newly acquired auto is in
addition to any vehicle shown on the declarations, it must be insured within 14 days of
FLORIDA ALL LINES ADJUSTER EXAM 200 QUESTIONS
WITH 100% COMPLETE AND CORRECT ANSWERS/A+
GRADE
the purchase date. If it replaces one of the cars, the insured does not need to add it
during that policy period.
Coverage F on homeowners policy provides - Correct answer-Medical payments to
others; pays all necessary medical expenses for up to three years after an accident.
Coverage F: Medical Payments to Others - Correct answer-Does not apply to the
insured or members of the insured's household
Not liability coverage and is not base on fault
An insured has taken inventory of his merchandise and discovers a substantial shortage
of valuable stock. He submits a claim to his insurance carrier that provides his coverage
under a Business Owners Policy. What coverage is provided by the BOP? - Correct
answer-No coverage would apply, there is no coverage for missing property when there
is no physical evidence to show cause of loss
Arbitration (ADR) - Correct answer-Neutral third party hears a dispute and makes a
decision both parties have agreed to follow.
Mediation - Correct answer-A method of settling disputes outside of court by using the
services of a neutral third party, called a mediator. The mediator acts as a
communicating agent between the parties and suggests ways in which the parties can
resolve their dispute. Not binding. [Show Less]