FLORIDA CLAIMS ADJUSTER EXAM 100 QUESTIONS
WITH VERIFIED AND CORRECT ANSWERS/2023/A+
GRADE
Frank owned a home that was destroyed by a hurricane. Both
... [Show More] TD Bank and
Bank of America were listed as additional interests on his homeowner policy.
The insurance company will make a payment to:
A. The first mortgagee, TD Bank
B. The Insured
C. Jointly to TD Bank and Bank of America
D. All listed interests - ANSWER D. All listed interests
Insurance applies separately to each insured as if other insureds did not exist.
This is defined as:
A. Severability
B. Conditional
C. Warranty
D. None of the above - ANSWER A. Severability
Property insurance policies usually contain a(n) clause, stating
the insured cannot dump damaged property on the insurer and demand its
full value:
A. Pro Rata
FLORIDA CLAIMS ADJUSTER EXAM 100 QUESTIONS
WITH VERIFIED AND CORRECT ANSWERS/2023/A+
GRADE
B. Abandonment
C. Liberalization
D. All of the above - ANSWER B. Abandonment
A(n) is one wherein economic loss would be suffered from an
adverse happening to the subject:
A. Conditional Contract
B. Personal Contract
C. Economic Contract
D. Insurable Interest - ANSWER D. Insurable Interest
States that if the insurer adopts a revision which would broaden coverage
without additional premium within some period of time prior to the policy
period or during the policy period, the insured receives the benefit of such
broadened coverage.
A. Cancellation Clause
B. Policy Period
C. Pro Rata
D. Liberalization - ANSWER D. Liberalization
Time frame is typically 60 days
The states that when there is an unbroken connection between
an occurrence and damage that grows out of the occurrence, then the
resultant damage is all a part of the occurrence.
FLORIDA CLAIMS ADJUSTER EXAM 100 QUESTIONS
WITH VERIFIED AND CORRECT ANSWERS/2023/A+
GRADE
A. Doctrine of Proximate Cause
B. Doctrine of Perils & Hazards
C. Insurance Policy Handbook
D. Doctrine of Property Insurance - ANSWER D. Doctrine of Property
Insurance
The Loss Settlement Valuation that subtracts an allowance for depreciation is
defined as?
A. Actual Cash Value
B. Replacement Cost
C. "Old for New"
D. None of the Above - ANSWER A. Actual Cash Value
A policy condition, either based on information in the insured's application
or inserted by the insurer, is defined as:
A. Warranty
B. Misrepresentation
C. Concealment
D. None of the Above - ANSWER A. Warranty
The following are basic characteristics of a property or liability insurance
contract, except:
A. Personal Contract
B. Conditional Contract [Show Less]