Which of the following statements is false concerning No-Fault Auto Insurance?

Negligence must be established.

The Continuing Education requirement to maintain an Adjuster license in Florida is:

Twenty four hours every two years.

Which of the following is true concerning the extended PIP endorsement?

Medical expense reimbursement is raised from 80% to 100%

An Insurance Policy is a contract with all of the following characteristics, EXCEPT

Indemnity is not part of an insurance contract.

Commercial leases have special coverages in the Leasehold Coverage Form due to the fact that

they are long-term often with investment in the real estate.

Which of the following is TRUE concerning Subrogation?

Allows the insurer to sue a negligent to recover a loss paid

All of the following activities are illegal for an adjuster, EXCEPT:

Use only company forms to prepare releases

The Claims Adjuster’s role in the insurance industry includes all the following EXCEPT:

Gives appropriate legal advice and writes binding contracts

Which of the following is NOT one of the “thresholds” in the “No-Fault” law?

The temporary injury of the insured

Which of the following is false concerning flood insurance?

Flood insurance, a new building only must have the walls up

When is the named insured NOT entitled to PIP benefits?

Injured outside of Florida while a person struck by a car

Which of the following is NOT one of the fiduciary responsibilities of an adjuster?

Withhold information from the company to please a client

Which of the following is NOT a goal in the adjusting process?

always pay the maximum limit of the policy

All of the following describe insurable interest EXCEPT: Answer

Show a similarity between insurance and wagering.

Under CGL Claims-made form, the Supplemental extended reporting period:

may extend from one year to an indefinite

What is the difference between liability and coverage?

liability legal doctrine / coverage contractual obligation

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Questions 35

Answers

1
In Section II of the Business Auto Policy, liability is available for
Anyone insured is vicariously liable for
Anyone insured is vicariously liable for
Permissive operators of autos owned, hired or borrowed
All of the above
2
Which of the following statements is false concerning No-Fault Auto Insurance?
Negligence must be established.
covers insured’s resident relatives
It covers loss of income due to injuries from an auto wreck
There is not complete immunity under Florida’s No Fault law
3
insurance contract may contain a "gray area" or an ambiguity . Contract Of ...
Adhesion
Cohesion
Conditions
Indemnity
4
The Continuing Education requirement to maintain an Adjuster license in Florida is:
Only required for Workers Comp Adjusters
Ten hours every two years.
Not required for any adjuster license.
Twenty four hours every two years.
5
Which of the following is a “defined motor vehicle” under Florida No-Fault law?
Motorcycle
Public transit bus
9,500 pound SUV
Golf cart
6
when the insured policy is considered
Indemnity
Personal nature
Actual cash value
Adhesion
7
Which of the following is true concerning the extended PIP endorsement?
Medical expense reimbursement is raised from 60% to 80%
Medical expense reimbursement is raised from 60% to 70%
Medical expense reimbursement is raised from 60% to 100%
Medical expense reimbursement is raised from 80% to 100%
8
An Insurance Policy is a contract with all of the following characteristics, EXCEPT
Indemnity is not part of an insurance contract.
It is a personal contract.
contract of adhesion
Conditions imposed upon the insurer and insured
9
Continuing education requirements to maintain a Customer representative license are
Ten hours every two years
Five hours every three years.
Only required for general lines agent license.
Not required for 4-40 license.
10
Commercial leases have special coverages in the Leasehold Coverage Form due to the fact that
they are exactly like residential leases.
they are long-term often with investment in the real estate.
None of the above
businesses do not enter into leases.
11
Which of the following forms is “all risks” on the dwelling policy?
DP-3, or the special form
None of the above
DP-1, or the basic form
DP-2, or the broad form
12
Which of the following is TRUE concerning Subrogation?
Allows the insured to collect twice for the same loss.
Allows the insurer to sue a negligent to recover a loss paid
Requires 70% co-insurance.
May allow insurer to divide the interests of the insureds.
13
All of the following activities are illegal for an adjuster, EXCEPT:
encourage claimant to make a decision on a offer
Use only company forms to prepare releases
Fail to make claimant aware of potential litigation
Give advice which is of a legal nature
14
The Claims Adjuster’s role in the insurance industry includes all the following EXCEPT:
Facilitating payment of legitimate claims
Replies to communication on a claim within 14 calendar days
Replies to Department of Insurance inquires on a claim
Gives appropriate legal advice and writes binding contracts
15
Which of the following is NOT one of the “thresholds” in the “No-Fault” law?
A permanent scarring on the face of an actress
The temporary injury of the insured
A permanent loss of a bodily function
Death of the insured
16
Which of the following is false concerning flood insurance?
detached garage would receive a actual cash value basis
pending status for flood coverage is the "emergency program"
Flood insurance, a new building only must have the walls up
Two acres must be inundated with water – flooded.
17
Which of the following is covered under the Garage Policy?
Garage location
Product recall
Employee injuries
Customer’s property under the care of the garage
18
Homeowners Policies usually insure property for which of the following?
Fire, lightning, theft
Rising water – Flood, back up of sewer or drain
Freezing, wear & tear, marring, deterioration
Inherent vice, underground seepage, governmental action
19
When is the named insured NOT entitled to PIP benefits?
Injured in Florida in a borrowed defined motor vehicle
Injured in Florida while a person struck by a car
Injured outside of Florida in their own insured Florida car
Injured outside of Florida while a person struck by a car
20
Which of the following is NOT one of the fiduciary responsibilities of an adjuster?
Maintain loyalty to the principal
Reveal underwriting facts to insurance company underwriter
Properly account for all money handled
Withhold information from the company to please a client
21
Under both the Dwelling and Homeowners, Coverage B – unattached structures coverage usually is:
25% of Coverage A – Structure
10% of Coverage A
10% of Coverage C – Personal Property
50% of Coverage A – Structure
22
Which of the following is NOT a goal in the adjusting process?
control costs
cultivate good customer relations and policyholder retention
always pay the maximum limit of the policy
comply with laws and contract
23
Exclusions under the liability section of the business auto policy include:
Liability for pollution, except from the vehicle.
All of the above are excluded.
Liability arising from mobile equipment
Employee injuries-covered under worker compensation
24
When an Additional PIP Endorsement is added to the Personal Auto Policy, what can we assume
UM coverage
None of the above apply
Extended PIP Endorsement
Named Non-owned Endorsement
25
Which of the following is NOT one of the rating factor used in determining a Homeowners premium
Fire protection available
Gender of ownerGender of owner
Location of risk
Type of construction
26
Who is covered for their exposure under the CGL – Commercial General Liability Policy
All of the above are covered
Employees of the business
Volunteers, legal representative, trustee
Real estate manager
27
Which of the following could NOT be considered an “owner” of a motor vehicle?
One who lease purchases with a time frame of 6 or more month
A long term lease of 3 months
The title holder of the auto.
A debtor in possession.
28
All of the following describe insurable interest EXCEPT: Answer
Insurable Interest must exist at the time of the loss.
Insurance Interest must exist for insurance to respond.
The insured would suffer an economic loss.
Show a similarity between insurance and wagering.
29
Strict or absolute liability:
must have failure to use "due care."
applies to school systems.
is assigned by law or statute.
considers the actions of a prudent person.
30
how long does an adjuster have to reply to communication from a policyholder on a claim?
30 days
14 days
10 days
3 days
31
Comparative negligence is determined through
All of the above
Judge and/or jury
Investigation & Analysis
Agreement between parties or by mediation or arbitration
32
what type of relationship does the adjuster have to the insured?
It is a final relationship.
It is a functional relationship.
It is a festering relationship.
It is a fiduciary relationship
33
Under CGL Claims-made form, the Supplemental extended reporting period:
is a 90 day period following policy expiration.
none of the above
must be selected before expiration of policy.
may extend from one year to an indefinite
34
the lowest single limit automobile liability that meets the requirements of the Florida
$30,000
10,000
$50,000
$20,000
35
What is the difference between liability and coverage?
coverage and liability is a legal obligation
they are not related
liability legal doctrine / coverage contractual obligation
there is no difference

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