Florida All Lines Adjuster Exam| 2023/ 2024 Update |Questions and Answers| Verified Answers
1. World-wide liability coverage is provided for a period of
... [Show More] 30 days for..
Answer: autos the insured hires, leases, rents or borrows without a driver. The insured's liability is determined in a settlement agreed to by the insurer, or in a suit filed in the United States or its territories, possessions, Puerto Rico or Canada.
2. The "principal" for an independent adjuster is the
Answer: insurer
3. The "control of property" condition of the Commercial Property policy:
Answer: states that a negligent act of someone beyond the insured's direction or control will not affect the coverage.
4. All loss or damage to property other than money and securities under a Crime policy is settled on
Answer: replacement cost basis
5. Which of the following businesses can cover their private passenger and commercial automobile exposures with a Business Auto policy?
Answer: a grocery store
6. An insured has purchased BAP physical damage coverage against specified causes of loss. Protection applies to all of the following perils, EXCEPT:
Answer: falling objects
7. period of restoration begins
Answer: 72 hours after loss occurs
8. Which of the following organizations creates and maintains model laws that establish standards for how insurance is offered and delivered in the United States?
Answer: The National Association of Insurance Commissioners (NAIC) creates and maintains model laws that establish standards for how insurance is offered and delivered in the United States.
9. What does the HO-6 Form cover
Answer: it covers walls, floors, and ceilings of a dwelling unit
10. This is a basic form peril covered on the Homeowners policy
Answer: Volcanic Eruptions
11. A seperate limit scheduled "per type of property" on a cause of loss form is know as
Answer: Insuring on a specific basis
12. The 3 cause of loss forms are
Answer: basic , broad and special
13. Economic loss that is the consequence of a direct loss is known as :
Answer: indirect loss
14. What is the deductible for glass breakage in a mechanical breakdown policy
Answer: $50 for glass expect windshields
15. T/F : Body panels are covered under a mechanical breakdown policy
Answer: false
16. The policy term on a basic mechanical breakdown policy term for a new automobile
Answer: 3 years or 36,000 miles, whichever comes first
17. The rental reimbursement provision of an automobile mechanical breakdown policy provides:
Answer: $15 per day up to a maximum of $75
18. 5 commercial automobile coverage forms [Show Less]