Study guides, Class notes & Summaries

What is an eligible building for flood insurance?: A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage?: Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A?: No, HO-4 (Renters person- al property) What is casual labor in workers' compen...

Claims Adjuster (Florida)| 206 questions| with complete solutions/Claims Adjuster (Florida)| 206 questions| with complete solutions/Claims Adjuster (Florida)| 206 questions| with complete solutions/Claims Adjuster (Florida)| 206 questions| with complete solutions/Claims Adjuster (Florida)| 206 questions| with complete solutions/Claims Adjuster (Florida)| 206 questions| with complete solutions

CLAIMS ADJUSTER EXAM 2024 WITH 100% ACCURATE SOLUTIONS Which term is generally considered to be a definition of "vacancy" in respect to a dwelling? - correct answer A dwelling from which the contents and occupants are removed. Dwelling Forms provide limited coverage for: 1. Pets 2. Rowboats & Canoes 3. Aircraft - correct answer 2. Rowboats & Canoes Liability coverage (section II) of the homeowners policy provides: - correct answer Legal defense costs in excess of the liability limi...

CLAIMS ADJUSTER FINAL EXAM 2024 WITH 100% ACCURATE SOLUTIONS An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of - correct answer The insured and insurer An insurer gives which of the following as Consideration for an insurance policy? - correct answer A Promise The interest of the insured and all other persons in the property involved in a claim is found in - correct answer A Proof of Loss An insured rear-ends another driver's vehicle. The auto p...

CLAIMS ADJUSTER EXAM 2024 Insurance - correct answer -an economic device used to protect against extreme unforeseen loss - the transfer of risk from one party to another Premium - correct answer -the fee paid by the insured in exchange for insurance Principle of Indemnity - correct answer -the insurer should be restored to where they were before the incident -no profit can be made Idemnification - correct answer -to compensate for loss or damage; to provide security for financ...

Florida Insurance Adjuster Licensing Test solve tested and verified 100% The policy period is found in what part of an insurance contract? -Correct Answer-Declarations Insurance policies are said to be contracts of... -Correct Answer-Adhesion The failure to exercise due care is known as -Correct Answer-Negligence A building is destroyed by flood. The loss of profits from renting the building is -Correct Answer-Indirect Loss The notice required for cancellation of an Auto Binders is ...

Florida Adjuster Licensing Practice Exam solved 100% A claim in the property/casualty industry Is defined as: -Correct Answer-an assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damages when you purchase insurance, you are buying: -Correct Answer-peace of mind that if an insured event does occur, that the insurance company will keep its promise and provide the financial protection that you...

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Correct Answers Florida No-Fault Tort Exemption - Correct Answer Those who comply with the law are granted limited immunity from suits of others through PIP coverage. 4 Exceptions to Tort Exemption(Threshold of No-Fault) - Correct Answer 1. Significant and Permanent loss of bodily function. 2.Permanent injury other than scarring and disfigurement. 3.Significant and Permanent scarring or disfigurement. 4.Death What does NFIP stand for? - Correct Answer National Flood Insurance Program ...

A public adjuster represents the interest of: A. The insurer B. The Insured C. The employer D. The interest of the general public - Correct Answer B. The insured Which of the following is the type of report that indicates the initial results of a claim investigation? A. Field Report B. Interim Report C. Full Report D. None of the above - Correct Answer A. Field Report States have adopted statutes regarding claims adjusting. To avoid unfair treatment to a claimant the adjuster must...

Severability - Correct Answer Insurance applies separately to each insured as if other insureds did not exist. Abandonment - Correct Answer Property insurance policies usually contain a(n) __________ clause, *stating the insured cannot dump damaged property on the insurer and demand its full value.* Insurable Interest - Correct Answer One wherein economic loss would be suffered from an adverse happening to the subject. Liberalization - Correct Answer States that if the insurer adopts a ...

Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - Correct Answer D. All listed interests 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 insurer and it is up to the additional interest...