FLORIDA PUBLIC ADJUSTING 3-20, FLORIDA 3-20 PUBLIC
ADJUSTER EXAM OUTLINES, FLORIDA 3-20 PUBLIC
ADJUSTERS STATE EXAM (ALL THREE IN ONE) 2023-2024
ACTUAL EXAM 400 QUESTIONS AND CORRECT DETAILED
ANSWERS WITH RATIONALES |AGRADE
Name the endorsement used on the dwelling policy to keep values
current with the replacement cost of the buildings (inflation of
construction costs) – ANSWER- The Automatic Increase Endorsement
What coverage should be added to the Business Owners Coverage Form
if the named insured’s employees use their own vehicles to run errands
when the insured does not have commercial auto coverage? – ANSWERNon-Owned and Hired
What is coverage based on under the commercial property condominium
association form? – ANSWER- Association agreement and bylaws
Name the excluded types of property under the Commercial Building
and Personal Property Form. – ANSWER- Animals (unless for sale)
Autos
Money
The BOP 2010 has extended the time for loss of income under an act of
civil authority. Was is the length of the time? – ANSWER- Four Weeks<\/p>\n\n\n\n
How long must all claim files be maintained and available for open and
closed files for the current and the preceding year? – ANSWER- 3 Years
DP-3 only provides damage to covered property caused by: – ANSWERBurglars
The HO-3 policy limits the theft of money to what amount? –
ANSWER- $200.00
In addition to the max coverage under an equipment breakdown
protection policy, what other expenses in addition to the limits of
coverage will the insurer pay? – ANSWER- Legal Fees
What is the prime coverage under flood insurance? – ANSWEROverflow of inland or tidal water
Under the DP-1 basic form what is excluded? – ANSWER- war
earthquake
landslide
Volcanic eruption can be found on which type of policy? – ANSWERThe basic dwelling policy
A Scheduled Personal Property endorsement under a Personal Inland
Marine Policy is usually settled on – ANSWER- ACV or Agreed Mutual
Basis<\/p>\n\n\n\n
A Scheduled Personal Property endorsement under a Personal Inland
Marine Policy is usually issued on: – ANSWER- An Open Peril
Which section explains the important terms used throughout the
contract? – ANSWER- Definitions
Under a dwelling broad or special form, what is the maximum that
would be paid for “loss of use”? – ANSWER- 20% of the Dwelling
Coverage
Though multiple parties may be involved in a lawsuit, the opposing
sides are referred to as: – ANSWER- Plaintiff and Defendant
Exclusions under the theft, disappearance and destruction coverage
form. – ANSWER- Fire
Vandalism
Accounting Errors
The theft disappearance and destruction coverage form is designed to
cover – ANSWER- Criminal Activities of customer and others
What is covered by a SP-23 protection and indemnity policy? –
ANSWER- Loss of life, Injury and illness
Collision liabilities including defence costs<\/p>\n\n\n\n
Damage to docks, buoys and other structures
When a motor vehicle is sold, transported, or delivered to a salvage
motor vehicle dealer, it must be accompanied by: – ANSWER- Properly
endorsed certificate of title
Salvage certificate of title
Vehicle certificate of destruction
What does the HO Policy Loss of Use cover? – ANSWER- ALE
An equipment dealers coverage form is designed to provide insurance on<\/p>\n\n\n\n