Florida Claims Adjuster Exam Review

That any person who is damaged by certain insurer practices is granted a right to sue the insurer for damages.

An insurance contract is based on serious responsibilities for the claim adjuster regarding conduct, work habits, and specific claims handling activities.

10=10,000 Livability per person injured, 20=20,000 Combined Total Liability for all injuries, 10=10,000 Property Damage.

<p>A form of coverage known as a NAMED NOOWNER policy required for insurance coverage while operating cars owned by others.</p> Signup and view all the answers

<p>The legally valid claims of others must be satisfied up to the 10/20/10 requirements and certification of financial responsibility must be provided.</p> Signup and view all the answers

<p>Compliance with the law provides limited immunity from tort suits and substitutes legal liability damages with Personal Injury Protection (PIP).</p> Signup and view all the answers

<p>90 days.</p> Signup and view all the answers

<p>The owner is denied immunities from legal liabilities, personally liable for PIP benefits, and subject to suspension of driver's license and vehicle registration.</p> Signup and view all the answers

<p>Increases medical benefits from 80% to 100% and income loss from 60% to 80%, applying only to named insured and family members.</p> Signup and view all the answers

<p>Increases the $10,000 limit by amounts such as $10,000, $25,000, $40,000, and $90,000, applies only to the insured and family members.</p> Signup and view all the answers

<p>It is used to insure the automobile exposures of individuals and families.</p> Signup and view all the answers

<p>It insures the automobile exposures of businesses.</p> Signup and view all the answers

<p>Includes private passenger type autos, public autos, commercial autos, and special types of vehicles.</p> Signup and view all the answers

<p>Used to insure businesses engaged in selling, servicing, repairing, parking, or storing autos.</p> Signup and view all the answers

<p>Used to insure businesses that are hired to transport goods for someone else.</p> Signup and view all the answers

<p>Insures the automobile exposures of all businesses other than garage or trucking businesses.</p> Signup and view all the answers

<p>Declarations, common policy conditions, coverage forms, a Nuclear Energy Liability Exclusion endorsement, and various endorsements.</p> Signup and view all the answers

<p>Identifies the named insured, states the policy period, premium, and limits of coverage.</p> Signup and view all the answers

<p>Something that causes a loss.</p> Signup and view all the answers

<p>Something that increases the probability that a loss will occur.</p> Signup and view all the answers

<p>A policy condition that is a guarantee of a fact.</p> Signup and view all the answers

<p>An untrue statement by the insured made in an insurance application that does not become part of the policy.</p> Signup and view all the answers

<p>The failure of the insured to reveal relevant facts known to the insured in applying for insurance.</p> Signup and view all the answers

<p>The insured cannot dump damaged property on the insurer and demand its full value.</p> Signup and view all the answers

<p>The insurance applies separately to each insured as if other insureds did not exist.</p> Signup and view all the answers

<p>The cause having the most significant impact in bringing about the loss under a first-party property insurance policy.</p> Signup and view all the answers

<p>Physical harm to tangible property.</p> Signup and view all the answers

<p>Economic loss which flows as a result of direct loss.</p> Signup and view all the answers

<p>Replacement Cost minus Depreciation.</p> Signup and view all the answers

<p>The amount, generally expressed as a fixed percentage, an insured must pay against a claim after the deductible is satisfied.</p> Signup and view all the answers

<p>Policies cover people who own and operate things, such as automobiles.</p> Signup and view all the answers

<p>A contract agreement that requires performance once the delineated conditions are met.</p> Signup and view all the answers

<p>When a loss occurs, the insured should be restored to the approximate financial condition before the loss.</p> Signup and view all the answers

<p>The reasonable concern of a person to obtain insurance for any individual or property against unforeseen events.</p> Signup and view all the answers

<p>Implied voluntary relinquishment or agreement that excludes some losses or limits a claim.</p> Signup and view all the answers

<p>Occurs when the insurer or its representative knowingly gives up a known right under the insurance contract.</p> Signup and view all the answers

<p>A waiver that is assumed to be in effect from a person's behavior.</p> Signup and view all the answers

<p>Monetary compensation awarded by a court to an injured party.</p> Signup and view all the answers

<p>When an insured collects damages from another party under the insurance policy, their rights are transferred to the insurer.</p> Signup and view all the answers

<p>Made by the insurer, in writing.</p> Signup and view all the answers

<p>Coverage applies only to losses that take place during the policy period.</p> Signup and view all the answers

<p>A condition limiting coverage to occurrences that take place within a stated geographical region.</p> Signup and view all the answers

<p>It dictates against duplicate recovery for the same loss.</p> Signup and view all the answers

<p>The insured may cancel at any time, while the company must provide advance notice to the insured.</p> Signup and view all the answers

<p>A contract or written agreement affecting insurance, including all clauses and endorsements.</p> Signup and view all the answers

<p>A contract whereby one undertakes to indemnify another upon determinable contingencies.</p> Signup and view all the answers

<p>Acts as a temporary contract until the policy is issued.</p> Signup and view all the answers

<p>5 days.</p> Signup and view all the answers

<p>Insurance wherein payment by the insurer will be paid directly to the insured.</p> Signup and view all the answers

<p>Payment will be on behalf of the insured based on their liability.</p> Signup and view all the answers

<p>A clause that provides payment to a third party rather than the insured in relation to insured risk.</p> Signup and view all the answers

<p>A property insurance provision granting special protection for the mortgagee's interest.</p> Signup and view all the answers

<p>Items that are not permanently attached to the main dwelling, like a shed or fence.</p> Signup and view all the answers

<p>Helps identify risks eligible for ocean or inland marine insurance.</p> Signup and view all the answers

<p>Covers enforcement of laws requiring demolition of undamaged portions of buildings.</p> Signup and view all the answers

<p>Covers a higher limit and protects against unforeseen events.</p> Signup and view all the answers

<p>Prevents coverage if the insured knew the loss was probable at the time of the insurance contract.</p> Signup and view all the answers

<p>The limit of coverage is set at an amount higher than expected peak values.</p> Signup and view all the answers

<p>Covers direct and indirect losses related to properties other than one to four family dwellings.</p> Signup and view all the answers

<p>Coverage for loss or damage to property caused by an employee's theft.</p> Signup and view all the answers

<p>Agreement to fulfill a contractual obligation, used frequently in construction.</p> Signup and view all the answers

<p>Provides comprehensive health services for a prepaid fixed fee.</p> Signup and view all the answers

<p>A selected group of hospitals and medical practitioners aimed at reducing costs.</p> Signup and view all the answers

<p>An equitable principle that may legally prohibit a party from asserting a fact after creating an impression.</p> Signup and view all the answers

<p>A motor vehicle or mobile home that is a total loss.</p> Signup and view all the answers

<p>Any inoperable material that may have been a motor vehicle or mobile home.</p> Signup and view all the answers

<p>Agent for a principal/client, showing a legal or special relationship of trust.</p> Signup and view all the answers

<p>An insurer formed under the laws of its state.</p> Signup and view all the answers

<p>An insurer formed under the laws of any state other than this state.</p> Signup and view all the answers

<p>An insurer that is neither domestic nor foreign.</p> Signup and view all the answers

<p>The authority given to a licensee to transact insurance on behalf of an insurer.</p> Signup and view all the answers

<p>Material that is inoperable and whose highest value is as scrap metal.</p> Signup and view all the answers

<p>Covers repairs to mechanical parts of a vehicle that break.</p> Signup and view all the answers

<p>Selling an item and stating that it is required by law.</p> Signup and view all the answers

<p>$5,000.</p> Signup and view all the answers

<p>$10,000.</p> Signup and view all the answers

<p>The Department of Highway Safety and Motor Vehicles.</p> Signup and view all the answers

<p>Medical - 80% of expenses, Work Loss - 60% of income loss, Replacement Services - 100%, Death - $5,000 benefit.</p> Signup and view all the answers

<p>Salaried employees under the supervision of the insurer's claims department.</p> Signup and view all the answers

<p>Adjusters who offer services on a fee-for-service basis representing many insurers.</p> Signup and view all the answers

<p>An employee or agent serving multiple company clients.</p> Signup and view all the answers

<p>Self-employed representatives of insurers, compensated on a fee-plus-expenses basis.</p> Signup and view all the answers

<p>A claims adjuster who advocates for the policyholder.</p> Signup and view all the answers

<p>Liability, Property Damage, Uninsured Motorist, Medical Payments, Personal Injury Protection, Collision and Comprehensive Deductibles, Towing Coverage, Rental Coverage.</p> Signup and view all the answers

<p>Solicitation, Negotiation, Effecting Coverage, Transacting Insurance Matters.</p> Signup and view all the answers

<p>Significant and permanent loss of bodily function, Permanent injury other than scarring, Significant and permanent scarring, Death.</p> Signup and view all the answers

<p>Verification of bills and estimates, may include photographs and witness canvasses.</p> Signup and view all the answers

<p>Inquiry, Verification, Comparison.</p> Signup and view all the answers

<p>Transacting insurance outside of one's license, Misrepresentation or fraud, Sliding, Demonstration of unworthiness, Misappropriation of funds.</p> Signup and view all the answers

<p>Describes certain practices and penalties for misrepresentation and failing to act promptly.</p> Signup and view all the answers

<p>Covers all losses except collision or overturn.</p> Signup and view all the answers

<p>Legally valid claims must be satisfied; certification of financial responsibility required.</p> Signup and view all the answers

<p>Investigation, Evaluation, Negotiation.</p> Signup and view all the answers

<p>The assertion of an alleged legal right against an insurer.</p> Signup and view all the answers

<p>One involved in the investigation, adjustment, negotiation of claims.</p> Signup and view all the answers

<p>The process of disposing of an insurance claim.</p> Signup and view all the answers

<p>A statement acknowledging that money received is an advance pending the outcome of a claim.</p> Signup and view all the answers

<p>A provision for computing and assigning each contract its proportion of loss.</p> Signup and view all the answers

<p>Settle with both parents for amounts not exceeding $15,000; more must go through court.</p> Signup and view all the answers

<p>Failing to act promptly, Failure to affirm or deny a claim.</p> Signup and view all the answers