{"id":119125,"date":"2023-09-08T19:23:41","date_gmt":"2023-09-08T19:23:41","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=119125"},"modified":"2023-09-08T19:27:05","modified_gmt":"2023-09-08T19:27:05","slug":"florida-adjuster-exams-package-deal-2023-2024-questions-and-correct-detailed-answersagrade","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/09\/08\/florida-adjuster-exams-package-deal-2023-2024-questions-and-correct-detailed-answersagrade\/","title":{"rendered":"FLORIDA ADJUSTER EXAMS PACKAGE DEAL 2023-2024 QUESTIONS AND CORRECT DETAILED ANSWERS|AGRADE"},"content":{"rendered":"\n

FLORIDA CLAIMS ADJUSTER
LATEST EXAM 2023-2024\/CLAIMS
ADJUSTER (FLORIDA) 270+ REAL
EXAM QUESTIONS AND CORRECT
ANSWERS|AGRADE
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 – ANSWER- Loss of Settlement Contract
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 – ANSWER- Conditional Contract
“may be conditioned”
If financial responsibility doesn’t exist at the time of an accident, which
of the following things must happen to avoid penalties?
A. The legally valid claims of others must be satisfied (up to 10\/20\/10)
B. The owner and operator must provide certification of future
responsibility for future accidents<\/p>\n\n\n\n

C. Both A & B
D. None of the Above – ANSWER- C. Both A & B
A lender has an insurable interest in a home and finds protection in the:
A. Loss Payee Clause
B. Mortgagee Clause
C. Lender Clause
D. Additional Insured Clause – ANSWER- B. Mortgagee Clause
Mortgagee – Homeowner’s policy
Loss Payee – Automobile policy
Which of the following forms is “all-risk” on the dwelling policy?
A. DP-1, or the Basic Form
B. DP-2, or the Broad
C. DP-3, or the Special Form
D. None of the Above – ANSWER- C. DP-3, or the Special Form
Which of the following is not covered under Coverage C, Personal
Property?
A. A fire breaks out in the residence and an overnight guest loses his
clothes in the fire
B. A fish dies because he has been left alone for a week without food
C. The insureds daughters tennis racket is stolen from her locker
D. The insureds suitcase and clothing, valued at $1,500, are stolen from
his hotel – ANSWER- B. A fish dies because he has been left alone for a
week without food
Animals are listed as an “exclusion” under a Homeowner’s policy.
Which of the following are characteristics of Homeowner’s Insurance?
A. Protects against economic loss to residences and household property
and legal liabilities
B. Owner-occupants of 1-4 family dwellings
C. Renters who maintain residential occupancy in any type of building
D. All of the Above – ANSWER- D. All of the Above<\/p>\n\n\n\n

Also included: personal, non-business risk, no more than 2
roomers\/boarders, condominium unit owners and cooperative apartment
occupants
An insured who wishes to purchase flood insurance, but is located in a
moderate or low risk flood zone may do so by purchasing a:
A. Preferred Risk Flood Policy
B. Standard Flood Policy
C. Universal Flood Insurance
D. None of the Above – ANSWER- A. Preferred Risk Flood Policy
Although Flood Insurance is provided by the Federal Government, those
who are not in a “flood zone” may purchase a preferred risk policy to
cover them for a flood claim.
Used only for Commercial Condominiums, it covers the unit-owners
business personal property and the personal property of others in the
insured’s care, custody or control:
A. Condominium Dwelling Form
B. Personal Condominium Unit Owners Form
C. Condominium Unit Owners Form
D. None of the Above – ANSWER- C. Condominium Unit Owners Form
Does not cover buildings since coverage would typically be provided
under the Condo Association coverage form issued.
The Commercial Property Contract includes all of the following, except:
A. Common Policy Conditions
B. Commercial Property Conditions
C. Coverage Form
D. Commercial Loss Schedule – ANSWER- Commercial Loss Schedule
Also included: Declarations, Causes of Loss Form, Endorsements
Insures a condominium association against direct physical loss or
damage to buildings, business personal property and personal property
of others in the care, custody or control of the association and located at
the premises:<\/p>\n\n\n\n

A. Condominium Association Form
B. Condominium Unit Owners Form
C. Condominium Insured Owner Form
D. None of the Above – ANSWER- A. Condominium Association Form
This, along with Condo Unit Owners Form, is located under Condo
Coverage.
Sometimes referred to as commercial fire and allied lines, this is the
form of insurance that covers direct and indirect losses related to
properties other than one-to-four family dwellings and farm properties:
A. Business Property Insurance
B. Building Property Insurance
C. Commercial Property Insurance
D. None of the Above – ANSWER- C. Commercial Property Insurance
(the question is the definition for this term)
Under Commercial Property Policies, Florida law requires an insurer to
give the insured at least ____days advance written notice of nonrenewal. A. 25 B. 90 C. 45 D. None of the Above – ANSWER- C. 45 Also, notice must state reasons the policy is not to be renewed. Liberalization states, “The insured gets the benefit of any broadened coverage if the company, within ____<\/em><\/strong><\/em><\/strong> days of inception, adopts a
form revision that is broader and without increase in premium.”
A. 10 days
B. 55 days
C. 65 days
D. 45 days – ANSWER- D. 45 days
Protects against loss of business income that results from damage to
covered property from a covered cause of loss.<\/p>\n\n\n\n

FLORIDA PERSONAL LINES LICENSE
EXAM LATEST 2023-2024 ACTUAL
EXAM 300 QUESTIONS AND CORRECT
ANSWERS|AGRADE
This endorsement is only available in the policy includes other than collision
coverage. This endorsement will reimburse the insured for a rental charges
incurred because the covered auto is out of use because of a covered loss.
while an insured covered auto is in the repair shop following damage by a
collision, the insured would have coverage for which of the following vehicles
under a personal auto policy?
A. Any vehicle not owned by the insured, but furnished for use while the covered
auto is out of normal use because of repair
B. Any vehicle use by the insured without the reasonable belief that the insured is
entitled to use such vehicle
C. Any auto furnished for the insured’s regular use, but not named on the policy
D. Any vehicle while located inside a racing facility for the purpose of racing –
ANSWER- A. Any vehicle not owned by the insured, but furnished for use while
the covered auto is out of normal use because of repair
The Florida automobile joint underwriting association (FAJUA) is a market source
for person unable to purchase auto insurance thought the standard markets. All of
the following statements concerning (FAJUA) are TRUE, EXCEPT
A. Agents do not have binding Authority
B. Coverage is available to military nonresident stationed in Florida.
C. Private passenger auto are eligible for liability coverage with limits up to
100\/300\/50, PIP, U\/M.
D. Each licensed agent in Florida is assigned to one of the servicing carries with
which the agent places all risks to be insured in FAJUA – ANSWER- A. Agents do
not have binding Authority<\/p>\n\n\n\n

Agents have authority to immediately bind coverage upon securing a completed
and signed application upon payment of the require premium deposit by the
applicant.
If a person is using auto with the belief that he is entitled to do so, subrogation
rights under a personal auto policy would apply to all coverages EXCEPT
A. no fault medical payments
B. Liability
C. Physical Damage
D. Uninsured Motorist – ANSWER- C. Physical Damage
Subrogation rights do NOT apply to physical damage coverage if the damage is
caused by a person using the auto with a reasonable belief that they were entitled to
do so.
what type of information would be found in a policy’s insuring agreement?
A. Insurers’ address
B. Renewal Dates
C. Location of premises
D. Policy limts – ANSWER- B. Renewal Dates
The insuring agreement lists the parties to the contract, effective and renewal dates,
the description of coverage provided, and perils (among other things). Location of
premises, policy limits, supplemental representations, and insurer’s name and
address can all be found in the Declarations.
A neighbor’s tree has fallen into the insured’s yard. The insured’s homeowners
policy will only pay to remove the tree if
a)The damage is more than $1,000.
b)The neighbor has no homeowners insurance.
c)The tree has caused damage to the insured’s vehicle.
d)The tree is blocking the driveway. – ANSWER- d)The tree is blocking the
driveway.
An insured’s homeowners policy will pay up to $1,000 to remove from premises if
a neighbor’s tree fell by a covered peril, or if the tree blocks a driveway or
handicapped ramp, even if no damage to a covered structure has occurred.<\/p>\n\n\n\n

A sworn written statement that must be furnished by the insured to the insurer
before any loss under a policy can be paid is called?
A. Binder
B. Proof of lose
C. Notice of Claim
D. Claim Report – ANSWER- B. Proof of lose
Proof of loss is a sworn statement that must usually be furnished by the insured to
an insurer before any loss under a policy can be paid. Proof of loss must be in
writing.
According to the standard mortgage clause, who has the right to bring a suit in
their own name to recover damages, pay policy premiums, and submit a proof of
loss?
a)Policyholder
b)Mortgagee
c)Insurance company
d)Governor – ANSWER- b)Mortgagee
The standard mortgage clause, a basis provision of all property policies for real
property, also ensures that mortgagees have the right to receive prior notice if an
insurance policy is to be cancelled.
An agent transacts business for Insurer A and Insurer B, both selling life insurance,
and for Insurer C, selling health insurance. How many appointments must the
agent hold?
a)No appointments are required.
b)Only one – for any of the insurers
c)Two – one for life and one for health
d)Three – one for each insurer – ANSWER- d)Three – one for each insurer
An agent must have a separate appointment for each insurer.
Which of the following losses would NOT be covered by a homeowners policy?
a)A coin collection valued at $500 lost in a fire
b)A $550 utility trailer blown away by a tornado
c)A stolen silver tea set worth $2,000
d)A $800 outboard motor destroyed by hail – ANSWER- a)A coin collection
valued at $500 lost in a fire<\/p>\n\n\n\n

An HO policy will pay up to $2,500 for silverware by theft, $1,500 for boats,
motors, trailers, $1,500 for loss of trailers not used with boats, but no more than
$200 for coins.
Which of the following does the term proximate cause refer to?
a)Reason for filing a lawsuit
b)Negligence that leads to an injury
c)Injury that leads to monetary compensation
d)Duty of the defendant to act – ANSWER- b)Negligence that leads to an injury
Proximate cause is the reasonably foreseeable act or event that results in an injury
or damage. Negligence may often be the proximate cause of the damage; without
it, the accident would not have happened. This is also called direct liability.
What is the basic limit for costs incurred at the place a vehicle is disabled provided
by the towing and labor costs endorsement?
a)$25
b)$50
c)$75
d)$100 – ANSWER- a)$25
This endorsement provides a basic limit of $25 for towing and labor costs incurred
at the place a vehicle is disabled. Higher limits are available for an additional
premium.
An insurer neglects to pay a legitimate claim that is covered under the terms of the
policy. Which of the following insurance principles has the insurer violated?
a)To extend coverage to motorized vehicles rented for recreation
b)To expand the definition of a covered auto to include various motorized vehicles
c)To limit coverage to various motorized vehicles only
d)To provide coverage for hit-and-run accidents The miscellaneous type vehicle
endorsement is used to – ANSWER- B.) to expand the definition of a covered auto
to a include various motorized vehicles<\/p>\n\n\n\n

FLORIDA 2-15 INSURANCE LICENSE EXAM LATEST 2023-
2024 REAL EXAM 200 QUESTIONS AND CORRECT ANSWERS
WITH RATIONALES |AGRADE
On August 9, Albert made an application for life insurance that his agent submitted
a day later without a premium payment. On August 21, the insurer issued the
policy as applied for and on August 24, the agent delivered the policy and collected
the initial premium. On what day was the contract offer made?
A. August 9
B. August 10
C. August 21
D. August 24 – ANSWER- C. Rationale:If an applicant does not submit an initial
premium with the application, the applicant is inviting the insurance company to
make a contract offer. The insurer can respond by issuing a policy (the offer) that
the applicant can accept by paying the premium when the policy is delivered.
All statements made by an applicant in an application for life insurance are
considered to be
A. warranties
B. affirmations
C. representations
D. declarations – ANSWER- C. Rationale:Most states require that life insurance
policies contain a provision that all statements made in application be deemed
representation not warranties. A representation is a statement made by the
applicant that the applicant believes to be true. A warranty is a statement made by
the applicant that is guaranteed to be true. If an insurance company rejects a claim
on the basis of a representation, the company bears the burden of proving
materiality.
Which of the following legal terms indicates that a life insurance contract contains
the enforceable promises of only one party?
A. adhesion
B. unilateral
C. conditional
D. aleatory – ANSWER- B. Rationale:Insurance contracts are unilateral in that only
one party – the insurer – makes any kind of enforceable promise.<\/p>\n\n\n\n

Which of the following types of agent authority is specifically set forth in writing
in the agent’s contract?
A. express
B. implied
C. apparent
D. personal – ANSWER- A. Rationale:Express authority is the authority a principal
gives to its agent. Express authority is granted by means of the agent’s contract,
which is the principal’s appointment of the agent to act on its behalf.
Assume a home catches fire after it is struck by lightning and the fire destroys its
structure and contents. By insurance definition, the fire is
A. the risk
B. the hazard
C. the peril
D. the proximate cause – ANSWER- C. Rationale:A peril is the immediate specific
event causing loss and giving rise to risk. When a building burns, fire is the peril.
What constitutes “consideration” for a life insurance policy?
A. application and initial premium
B. agent’s commission
C. adhesion feature of the contract
D. policy’s benefits – ANSWER- A. Rationale:Consideration is the value given in
exchange for the promises sought. In an insurance contract, consideration is given
by the applicant in exchange for the insurer’s promise to pay benefits, and it
consists of the application and the initial premium.
Statements made by an applicant for life insurance that are guaranteed to be true
are
A. warranties
B. material statements
C. representations
D. declarations – ANSWER- A. Rationale:A warranty in insurance is a statement
made by the applicant that is guaranteed to be true. It becomes part of the contract
and, if found to be untrue, can be grounds for revoking the contract. Warranties are<\/p>\n\n\n\n

presumed to be material because they affect the insurer’s decision to accept or
reject an applicant.
Which of the following insurance companies is owned by its policyholders?
A. service insurer
B. stock insurer
C. reinsurer
D. mutual insurer – ANSWER- D. Rationale:Mutual insurers are owned by the
policyholders. Anyone purchasing insurance from a mutual insurer is both a
customer and an owner.
With regard to life insurance, all of the following statements are correct EXCEPT
A. all individuals are considered to have insurable interests in themselves
B. spouses are automatically considered to have insurable interests in each other
C. a creditor has an insurable interest in a debtor
D. insurable interest must be maintained throughout the life of the contract –
ANSWER- D. Rationale:Insurable interest is required only when a contract is
issued; it does not have to be maintained throughout the life of the contract nor is it
necessary at the time of claim.
A life insurance company is organized in Orlando where it maintains its home
office. In Florida, the company is classified as
A. a domestic company
B. a local company
C. a foreign company
D. a preferred company – ANSWER- Rationale: A. An insurer is termed
“domestic” in a state when it is incorporated in that state.
A life insurance company organized in Illinois, with its home office in
Philadelphia, is licensed to conduct business in Wisconsin. In Wisconsin, this
company is classified as
A. a domestic company
B. an alien company
C. a foreign company<\/p>\n\n\n\n

D. a regional company – ANSWER- C. Rationale:A foreign company operates
within a state in which it is not chartered and in which the home office is not
located.
To whom does the cash value of a life insurance policy belong?
A. policyowner
B. insured
C. insurer
D. beneficiary – ANSWER- A. Rationale:The accumulation that builds over the life
of a policy is called the “cash value,” and it belongs to the policyowner, who may
or may not be the insured.
Frank is the insured in a $40,000, 5-year level term policy issued in 2003. He died
in 2009. His beneficiary received
A. nothing
B. $20,000
C. $40,000
D. the cash value of the policy – ANSWER- Rationale:A. In this case, the insured
died after his term policy had expired. As a result, his beneficiary received nothing.
All of the following statements regarding assignment of a life insurance policy are
correct EXCEPT
A. to secure a loan, the policy can be transferred temporarily to the lender as
security for the loan
B. the policyowner must obtain approval from the insurance company before a
policy can be assigned
C. the life insurance company assume no responsibility for the validity of an
assignment
D. the life insurance company must be notified in writing by the policyowner of
any new assignment – ANSWER- B. Rationale:Policyowners actually own their
policies and may do with them as they please. They can even give them away, just
as they can give away any other kind of property they own. Nevertheless, they
must notify the insurance company in writing of any transfers of ownership
(assignments). The company must then accept the validity of the assignments
without question.<\/p>\n\n\n\n

FLORIDA 2-20 AGENTS LICENSE EXAM 2023-2024
REAL EXAM 300 QUESTIONS AND CORRECT
DETAILED ANSWERS|AGRADE
Keith commutes into the city in his car, and he provides a ride to two co-workers
who live near him. Every other week, the co-workers take turns buying the
gasoline for Keith’s car. Does this activity create a public or livery conveyance
situation that would preclude liability coverage under Keith’s Personal Auto Policy
(PAP)? – ANSWER- No, because Keith is involved in a share-the-expense car
pool.
An insured covers his owned auto with more than one Personal Auto Policy (PAP),
each from a different insurer. In the event of a claim for medical payments
coverage, – ANSWER- Each insurer pays its pro rata share based on the proportion
that its limit of liability bears to the total of applicable limits.
The Insuring Agreement in Part A – Liability Coverage of the Personal Auto Policy
contains descriptions of all of the following EXCEPT: – ANSWER- Limit of
Liability
Tom and Martha insure their house with an unendorsed HO-3\u2014Special Form (HO3) with a Coverage A\u2014Dwelling limit of $300,000, which is the replacement cost
of the house. A thief breaks into the house while Tom and Martha are on vacation
and steals the following items: \u2022$500 cash\u2022$50,000 stock certificates. Ignoring any
deductible that may apply, how much, if any, will Tom and Martha’s insurer pay
for the loss of the items? – ANSWER- $1,700
Under the HO-3\u2014Special Form (HO-3) Section I\u2014Conditions, the Loss
Settlement condition – ANSWER- Establishes the process for determining the
amount to be paid for a property loss.
Property described in Coverages A, B, and C of an HO-3\u2014Special Form (HO-3)
that is destroyed, confiscated, or seized by order of any governmental or public
authority is – ANSWER- Excluded.
Adam and his insurer disagree on the amount of a loss covered by his homeowners
policy. Adam wants the insurer to pay $10,000 toward the loss. The insurer’s
representative feels that the loss should be valued at $5,000. How could the
appraisal process resolve this situation? – ANSWER- Adam and the insurer will<\/p>\n\n\n\n

each select an appraiser, and the two appraisers will submit their differences to an
impartial umpire who will reach a resolution.
Which one of the following has special limits of liability within Coverage C of the
HO-3\u2014Special Form (HO-3)? – ANSWER- Theft of firearms
A storm causes power lines to break ten miles from the insured’s premises. The
loss of electrical power causes food in the insured’s freezer to thaw and spoil.
Coverage for this loss is – ANSWER- Excluded because the power failure occurred
off the residence premises.
If law enforcement officials seize an insured’s personal computer to search for files
that might be related to a crime, the insured under an HO-3\u2014Special Form (HO-3)
may be unsuccessful in claiming a theft loss on the computer due to the –
ANSWER- Governmental Action exclusion.
Sam and Sophia insure their house with an unendorsed HO-3\u2014Special Form (HO3) policy. Sam stores a small fishing boat and trailer behind the house. While they
are out for the evening, a fire destroys most of their kitchen and completely
destroys the boat and trailer. Assuming Sam’s boat and trailer are valued at $4,000
and ignoring any deductible that may apply, what amount will their HO-3 insurer
pay for the loss of the boat and trailer? – ANSWER- $1,500
The Florida Valued Policy Law applies to: – ANSWER- mobile homes
For a Dwelling Flood policy, which is correct: – ANSWER- Primary residences are
covered at replacement cost on building losses.
Sally insures her house with an unendorsed HO-3\u2014Special Form (HO-3) with a
Coverage A\u2014Dwelling limit of $275,000, which is the replacement cost of the
house. A fire destroys the house including a collection of blueprints belonging to
Sally’s employer, valued at $10,000. Sally was storing the blueprints at her home
while her office was changing locations. Assuming no deductible applies, how
much, if any, will Sally’s HO-3 insurer pay to replace the blueprints? – ANSWER-
$0
One of the main factors used in developing a base premium for a homeowners
policy is – ANSWER- The public protection class.<\/p>\n\n\n\n

Bert and Maggie insure their house with an unendorsed HO-3\u2014Special Form (HO3) with a Coverage A\u2014Dwelling limit of $300,000, which is the replacement cost
of the house. A fire destroys their detached garage. The cost to replace the garage
is $35,000. Ignoring any deductible that may apply, how much will Bert and
Maggie’s insurer pay to replace the detached garage? – ANSWER- $30,000
Coverage for other structures is automatically provided under the HO-3\u2014Special
Form (HO-3) policy with a limit that is – ANSWER- 10 percent of the Coverage A
limit
Renee is an insured under an unendorsed HO-3\u2014Special Form (HO-3) with a
Coverage C\u2014Personal Property limit of $100,000. She owns a secondary
residence that contains $15,000 of personal property. Only her primary residence is
listed on the declarations page of the HO-3 policy. A fire destroys all of Renee’s
personal property at her secondary residence. How much of this loss will be paid
by Renee’s HO-3 policy? – ANSWER- $10,000
A homeowners policy premium is determined by first developing the base
premium. The base premium is influenced by certain factors, including which one
of the following? – ANSWER- Dwelling location
Ralph has an unendorsed HO-3\u2014Special Form (HO-3) policy. While coming
home from a coin show, Ralph discovers that his automobile was broken into and a
package containing $2,000 in coins, some tools, and groceries was stolen.
Disregarding any deductible that may apply, will Ralph’s HO-3 insurer pay for the
loss of the coins? – ANSWER- Yes, the coins are covered up to a specified limit.
Jim and Sue, a young married couple, are under contract to purchase a
condominium unit. Which one of the following ISO policy forms is best designed
to meet their homeowners insurance needs? – ANSWER- HO-6\u2014Unit-Owners
Form
Allen, a sole proprietor, is crossing the street when he is struck by a passing
uninsured auto. He sustains $2,500 in medical bills, $3,000 damage to the laptop
he was carrying, and $1,000 in lost wages. Allen’s business auto policy has
$100,000 liability limit and $5,000 medical payments limit. Assuming there is no
other coverage, how much will his business auto policy pay? – ANSWER- $2,500
An animal damaged the interior of an insured’s automobile while it was parked
with the windows down. Which one of the following types of physical damage<\/p>\n\n\n\n

coverage under the Business Auto Coverage Form would cover this loss? –
ANSWER- Comprehensive
Martha drives her auto, which is insured under a Business Auto Coverage Form,
outside the state in which it is licensed. The other state requires a $25,000 bodily
injury limit for underinsured motorists coverage. Martha’s policy does not provide
underinsured motorists coverage but does provide a $15,000 liability limit for
uninsured motorists coverage. How would Martha’s Business Auto Coverage Form
respond to a $30,000 underinsured motorists bodily injury claim in the other state?<\/p>\n\n\n\n