Insurance Studies > EXAM > Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review || 332 Questions || 2024 (All)

Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review || 332 Questions || 2024

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Peril Correct Answer: Something that causes a loss. Hazard Correct Answer: Something that increases the probability that a loss will occur. Warranty Correct Answer: A policy condition, either... based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation Correct Answer: An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Concealment Correct Answer: The failure of the insured to reveal relevant facts known to the insured in applying for insurance. Abandonment Correct Answer: Property insurance policies usually contain an abandonment clause, stating the insured cannot dump damaged property on the insurer and demand its full value. Severability Correct Answer: The insurance applies separately to each insured as if other insureds did not exist. Proximate Cause Correct Answer: The cause having the most significant impact in bringing about the loss under a first-party property insurance policy, when two or more independent perils operate at the same time (i.e., concurrently) to produce a loss. Courts employ a set of rules to resolve causation disputes when a property policy states that it covers or excludes losses "caused by" a peril and there is more than [Show More]

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