FLORIDA 6-20 ALL LINES ADJUSTER TEST

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FLORIDA 6-20 ALL LINES ADJUSTER TEST

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -100 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: If both the Condominium Association form and the Condominium Unit-Owner form cover the same property, how will the loss be handled?

• Each policy will pay pro-rata
• The Association policy will be excess over the Unit-Owners
• Each policy will share equally in the loss
• The Unit-Owners policy will be excess over the Association policy

Answer:

• The Unit-Owners policy will be excess over the Association policy

Question 2: In Commercial Crime coverage, the "Inside the Premises Theft of Money and Securities"

insuring agreement would cover loss of all the following, except:

• Currency
• Jewelry
• Tokens and tickets

• Checks and drafts

Answer:

• Jewelry

Question 3: The Dye's host a party. When the guests arrive, they place their coats in the bedroom. Two days later, Mr. Dye discovers that his ring is missing from the bedroom dresser. This loss is

referred to as a:

• Mysterious disappearance
• Burglary
• Robbery
• Theft

Answer:

• Mysterious disappearance

Question 4: An "accident" under an Equipment Breakdown policy includes:

• Sudden breakdown of an object.
• Gradual breakdown of an object.
• Leakage of a valve.
• All of the above.

Answer:

• Sudden breakdown of an object.

Question 5: Under the Business Auto Policy, each of the following is true about classification of

"covered autos," except:

• "Any auto" is the broadest coverage classification.
• An insured may select different classifications for different coverages.
• All classes of newly acquired autos are automatically covered.
• "Hired autos" includes autos the insured leases, hires, rents or borrows.

Answer:

• All classes of newly acquired autos are automatically covered.

Question 6: In crime insurance terminology, an officer of the company having care and custody of

insured property outside the insured premises is known as a:

• Scheduled executive
• Custodian
• Messenger
• Insured property executive

Answer:

• Messenger

Question 7: Which of the following losses would be covered under a Robbery and Safe Burglary coverage?

• Valuables kept in a locked safe are destroyed by fire.
• Cash disappears from a locked safe, with no explanation.
• Jewelry is stolen from a locked safe that shows no signs of forced entry.
• Rare manuscripts are stolen from a locked safe that shows signs of forced entry.

Answer:

• Rare manuscripts are stolen from a locked safe that shows signs of forced entry.

Question 8: The Special Cause of Loss form excludes all of the following,

except:

• Loss of market.
• Loss due to artificially generated electric current.
• Agricultural smudging.
• None of these are exclusions.

Answer:

• None of these are exclusions.

Question 9: A prospective insured wishes to protect her firm against criminals taking money from a messenger going from the firm to a bank. In this situation, the prospect should purchase

coverage for:

• Fidelity
• Robbery
• Assault
• Burglary

Answer:

• Robbery

Question 10: If a boiler explodes and damages a building, contents and property of others, what coverage would apply?

• Only the damage to the boiler is covered.
• Only the building coverage is provided.
• Only the insured's contents are covered.
• If proper limits are in place the entire loss is covered.

Answer:

• If proper limits are in place the entire loss is covered.

Question 11: The Earthquake and Volcanic Eruption endorsement provides coverage:

• Against earthquake from volcanic eruption
• For commercial buildings and other covered property when used in conjunction with another

Cause of Loss forms

• For damage caused by shocks that occur within 168-hours after policy expiration if these

shocks began during the policy period

• All of the above

Answer:

• All of the above