FLORIDA 6-20 ALL LINES ADJUSTER EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A+||UPDATED MAY 2024!

When two or more policies apply to the same loss, the one that pays first is called? - <>Primary

The clause that protects the lender in a real property policy is the? - <>Mortgagee Clause

The concept that one should not profit from the payment provided by an insurance policy is known as? - <>Indemnity

Payment the insurance company makes directly to the insured is? - <>Property or first-party insurance

To be considered an insurance contract, a policy must be? - <>Written

When the insured transfers his/her rights to collect for damages to the insurer, it is known as? - <>Subrogation

If an insurance policy is unclear or ambiguous, in whose favor does the policy respond? - <>The insured

A partial owner of a building cannot receive full value for the building in the event of a loss because of? - <>Insurable interest

Reduces the insured's damages by the degree of negligence - <>Comparative negligence

Exclusions, Declarations and Endorsementd - <>the following are part of an insurance policy

replacement cost minus depreciation - <>ACV

The Florida Valued Policy Law requires the insurer to pay $200,000 - <>The insured's house is totally destroyed in a fire. The house is insured for $200,000. The adjuster who investigates the claims determines the ACV of the home is $185,000.

No payment is made until the loss equals or exceeds the amount of the deductible and then the loss is paid in full - <>describe a franchise deductible

Private - <>All of the following are characteristics of an insurance contract EXCEPT? Personal, Private, Conditional, Adhesion?

Only meet with the client when the attorney is present - <>If a claimant is represented by an attorney, the adjuster should?

claims information - <>Adjusters should advise claimants on?

Written - <>An adjuster is required to notify a claimant when a claim is denied. The notification must be?

service to others, personal respect and proper mode of conduct - <>The term ethics refers to?

third party claim - <>When an adjuster deals with a claimant who is not a policyholder, this claim is known as an?

Decision-making - <>The successful adjuster/negotiator should understand that communication includes all of the following EXCEPT?
Select one:
A. Verbal and non-verbal messages
B. Questioning
C. Listening
D. Decision-making

Counseling - <>Which of the following is not a duty of the claims adjuster?
Select one:
A. Investigating
B. Evaluating
C. Negotiating
D. Counseling

Fiduciary - <>The adjuster's duty to the insurer is best described as?
Select one:
A. Friendly
B. Factual
C. Fun
D. Fiduciary

Both unethical behavior and lack of knowledge or information are correct - <>Errors and Omissions claims are a result of?
Select one:
A. unethical behavior
B. lack of knowledge or information
C. Both unethical behavior and lack of knowledge or information are correct
D. Neither unethical behavior and lack of knowledge or information are correct

All of the above - <>Unethical behavior affects?
Select one:
A. The claimant
B. The adjuster