Florida Claims Adjuster Exam QUESTION AND ANSWER NEW VIEW

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1. Frank owned a home that was destroyed by a hurri- cane. Both ABC and XYZ Banks were listed as addi- tional interests on his homeowner policy. The insur- ance company will make a payment to: A. The... first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests 2. 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 3. 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 B. Abandonment C. Liberalization D. All of the above 4. A(n) is one wherein economic loss would be suffered from an adverse happening to the sub- ject: A. Conditional Contract B. Personal Contract C. Economic Contract D. Insurable Interest D. All listed inter- ests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is made by the insur- er and it is up to the additional in- terests on working out their share. A. Severability B. Abandonment D. Insurable Inter- est 5. 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 6. The states that when there is an unbro- ken connection between an occurrence and damage that grows out of the occurrence, then the resultant damage is all a part of the occurrence. A. Doctrine of Proximate Cause B. Doctrine of Perils & Hazards C. Insurance Policy Handbook D. Doctrine of Property Insurance 7. The Loss Settlement Valuation that subtracts an al- lowance for depreciation is defined as? A. Actual Cash Value B. Replacement Cost C. "Old for New" D. None of the Above 8. A policy condition, either based on information in the insured's application or inserted by the insurer, is defined as: A. Warranty B. Misrepresentation D. Liberalization The time frame is typically 60 days. A. Doctrine of Proximate Cause For example, if a property insur- ance policy covers the peril of fire but further damage is caused by smoke, water used to ex- tinguish, and the process of mov- ing property away - fire is considered to be the *proxi- mate cause* of all of the damage. A. Actual Cash Value A. Warranty C. Concealment D. None of the Above 9. The following are basic characteristics of a property or liability insurance contract, except: A. Personal Contract B. Conditional Contract C. Loss of Settlement Contract D. Contract of Adhesion 10. The Insurer's responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property against further loss, and to give the insurer proof of the loss is defined as? A. Conditional Contract B. Adhesion Contract C. Indemnity Contract D. All of the Above 11. Which of the following is not one of the "Thresholds" in the "No-Fault" law? A. Death of the Insured B. Temporary Injury of the Insured C. A permanent loss of a bodily function D. Permanent scarring on the face of the insured 12. Under Mechanical Breakdown Coverage, new cars are eligible for service up to: A. 36 M [Show More]

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