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Florida Claims Adjuster Practice
Exam Questions With Correct
Answers 2024 - 2025
Frank cowned ca chome cthat cwas cdestroyed cby ca churricane. cBoth cABC cand cXYZ cBanks cwere clisted cas cadditional cinterests con chis chomeowner cpolicy. cThe cinsurance ccompany cwill cmake ca cpayment cto: c A. cThe cfirst cmortgagee, cABC B. cThe cInsured C. cJointly cto cABC cand cXYZ D. cAll clisted cinterests c- ccorrect canswers✔✔D. cAll clisted cinterests Remember cthat cthe cinsurer cis cnot cresponsible cto cknow cthe cdegrees cof cinterest. cIn cthe cevent cof ca closs, cone cpayment cis cmade cby cthe cinsurer cand cit cis cup cto cthe cadditional cinterests con cworking cout ctheir cshare. Insurance capplies cseparately cto ceach cinsured cas cif cother cinsureds cdid cnot cexist. cThis cis cdefined cas: A. cSeverability B. cConditional C. cWarranty D. cNone cof cthe cabove c- ccorrect canswers✔✔A. cSeverability Property cinsurance cpolicies cusually ccontain ca(n) c__________ cclause, cstating cthe cinsured ccannot cdump cdamaged cproperty con cthe cinsurer cand cdemand cits cfull cvalue: A. cPro cRata B. cAbandonment C. cLiberalization D. cAll cof cthe cabove c- ccorrect canswers✔✔B. cAbandonment A(n) c__________ cis cone cwherein ceconomic closs cwould cbe csuffered cfrom can cadverse chappening cto cthe csubject: A. cConditional cContract B. cPersonal cContract C. cEconomic cContract D. cInsurable cInterest c- ccorrect canswers✔✔D. cInsurable cInterest States cthat cif cthe cinsurer cadopts ca crevision cwhich cwould cbroaden ccoverage cwithout cadditional cpremium cwithin csome cperiod cof ctime cprior cto cthe cpolicy cperiod cor cduring cthe cpolicy cperiod, cthe cinsured creceives cthe cbenefit cof csuch cbroadened ccoverage. A. cCancellation cClause
B. cPolicy cPeriod C. cPro cRata D. cLiberalization c- ccorrect canswers✔✔D. cLiberalization The ctime cframe cis ctypically c 60 cdays. The c__________ cstates cthat cwhen cthere cis can cunbroken cconnection cbetween can coccurrence cand cdamage cthat cgrows cout cof cthe coccurrence, cthen cthe cresultant cdamage cis call ca cpart cof cthe coccurrence. A. cDoctrine cof cProximate cCause B. cDoctrine cof cPerils c& cHazards C. cInsurance cPolicy cHandbook D. cDoctrine cof cProperty cInsurance c- ccorrect canswers✔✔A. cDoctrine cof cProximate cCause For cexample, cif ca cproperty cinsurance cpolicy ccovers cthe cperil cof cfire cbut cfurther cdamage cis ccaused cby csmoke, cwater cused cto cextinguish, cand cthe cprocess cof cmoving cproperty caway c- cfire cis cconsidered cto cbe cthe cproximate ccause cof call cof cthe cdamage. The cLoss cSettlement cValuation cthat csubtracts can callowance cfor cdepreciation cis cdefined cas? A. cActual cCash cValue B. cReplacement cCost C. c"Old cfor cNew" D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cActual cCash cValue A cpolicy ccondition, ceither cbased con cinformation cin cthe cinsured's capplication cor cinserted cby cthe cinsurer, cis cdefined cas: A. cWarranty B. cMisrepresentation C. cConcealment D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cWarranty The cfollowing care cbasic ccharacteristics cof ca cproperty cor cliability cinsurance ccontract, cexcept: A. cPersonal cContract B. cConditional cContract C. cLoss cof cSettlement cContract D. cContract cof cAdhesion c- ccorrect canswers✔✔C. cLoss cof cSettlement cContract The cInsurer's cresponsibility cto cpay cfor ca cproperty closs cmay cbe cconditioned con cthe cinsured chaving cused creasonable cmeans cto cavoid cthe closs, cto cprotect cthe cproperty cagainst cfurther closs, cand cto cgive cthe cinsurer cproof cof cthe closs cis cdefined cas? A. cConditional cContract B. cAdhesion cContract C. cIndemnity cContract D. cAll cof cthe cAbove c- ccorrect canswers✔✔A. cConditional cContract
D. cDepends con cthe cdamaged cproperty c- ccorrect canswers✔✔A. c10, Used cto cinsure cbusinesses cengaged cin cselling, cservicing, crepairing, cparking cor cstoring cautomobiles: A. cServicing cCoverage cForm B. cGarage cCoverage cForm C. cTruckers cCoverage cForm D. cNone cof cthe cAbove c- ccorrect canswers✔✔B. cGarage cCoverage cForm The cfollowing cexamples care creferred cto cas c__________ cliability climits: c25/50/25 cor c10/20/10. A. cSplit B. cSingle C. cStraight D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cSplit 10/20/10 c= c 10,000 cper cperson cinjured 20,000 call cinjuries ccombined 10,000 cproperty cdamage Example cof cstraight cliability climit c= c$30, Jeremy chas ca cnot cat cfault caccident. cIf che chas cPIP cwith ca c$1,000 cdeductible, chow cmuch ccan che cexpect chis cPIP ccoverage cto cpay ctoward chis cmedical cbills cthat ctotal c$3,000? A. c$1, B. c$1, C. c$2, D. c$3,000 c- ccorrect canswers✔✔A. c$1, 3000 c(bills) c- c 1000 c(deductible) c= c 2000 cx c.80 c(eighty cpercent) Frank chas ca cnot-at-fault caccident, che chas cbasic cPIP, cno cdeductible cand cMed cpay cof c$5,000. cHow cmuch cwill chis cMed cPay ccontribute cto cmedical cbills cof c$15,000? A. c$15, B. c$5, C. c$3, D. c$0, cFrank cis cnot-at-fault c- ccorrect canswers✔✔B. c$5, Medical cPayment climits capply cper cperson; cFrank cwill creceive cfull camount ctowards cmedical cbills. Which cof cthe cfollowing cis cnot cone cof cthe crating cfactors cfor ca cHomeowner's cPolicy? A. cType cof cConstruction B. cLocation cof cRisk C. cAge c& cGender cof cInsured D. cProximity cto cFire cDepartment c- ccorrect canswers✔✔C. cAge c& cGender cof cInsured
On ca cHomeowner's cPolicy, ccovers citems cthat care cnot cpermanently cattached cto cthe cdwelling. cThis cis cdefined cas: A. cOther cStructures B. cExcess cStructures C. cPersonal cProperty D. cDwelling c- ccorrect canswers✔✔A. cOther cStructures Examples cinclude csheds, cfences, cpool chouses, cdetached ccar cports, cetc. A clender chas can cinsurable cinterest cin ca chome cand cfinds cprotection cin cthe: A. cLoss cPayee cClause B. cMortgagee cClause C. cLender cClause D. cAdditional cInsured cClause c- ccorrect canswers✔✔B. cMortgagee cClause Mortgagee c- cHomeowner's cpolicy Loss cPayee c- cAutomobile cpolicy Which cof cthe cfollowing cforms cis c"all-risk" con cthe cdwelling cpolicy? A. cDP-1, cor cthe cBasic cForm B. cDP-2, cor cthe cBroad C. cDP-3, cor cthe cSpecial cForm D. cNone cof cthe cAbove c- ccorrect canswers✔✔C. cDP-3, cor cthe cSpecial cForm When cthe cbasic cliability climits cprovided cby cthe cpolicy care cinsufficient cfor can cinsureds cneeds, ctwo ccoverage cforms care cused cto cprovide cthe cadditional camounts cof ccoverage: A. cExcess cLiability B. cUmbrella C. cBoth cA c& cB D. cNone cof cthe cAbove c- ccorrect canswers✔✔C. cBoth cA c& cB Which cof cthe cfollowing cis cnot ccovered cunder cCoverage cC, cPersonal cProperty? A. cA cfire cbreaks cout cin cthe cresidence cand can covernight cguest closes chis cclothes cin cthe cfire B. cA cfish cdies cbecause che chas cbeen cleft calone cfor ca cweek cwithout cfood C. cThe cinsureds cdaughters ctennis cracket cis cstolen cfrom cher clocker D. cThe cinsureds csuitcase cand cclothing, cvalued cat c$1,500, care cstolen cfrom chis chotel c- ccorrect canswers✔✔B. cA cfish cdies cbecause che chas cbeen cleft calone cfor ca cweek cwithout cfood Animals care clisted cas can c"exclusion" cunder ca cHomeowner's cpolicy. All cof cthe cfollowing care celigible cfor ca cHomeowner's cPolicy, cexcept? A. cAn capartment ctenant B. cA ccondominium cowner C. cFour-family cdwelling cowner-occupant
B. cCommercial cProperty cConditions C. cCoverage cForm D. cCommercial cLoss cSchedule c- ccorrect canswers✔✔D. cCommercial cLoss cSchedule Also cincluded: cDeclarations, cCauses cof cLoss cForm, cEndorsements Insures ca ccondominium cassociation cagainst cdirect cphysical closs cor cdamage cto cbuildings, cbusiness cpersonal cproperty cand cpersonal cproperty cof cothers cin cthe ccare, ccustody cor ccontrol cof cthe cassociation cand clocated cat cthe cpremises: A. cCondominium cAssociation cForm B. cCondominium cUnit cOwners cForm C. cCondominium cInsured cOwner cForm D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cCondominium cAssociation cForm This, calong cwith cCondo cUnit cOwners cForm, cis clocated cunder cCondo cCoverage. Sometimes creferred cto cas ccommercial cfire cand callied clines, cthis cis cthe cform cof cinsurance cthat ccovers cdirect cand cindirect closses crelated cto cproperties cother cthan cone-to-four cfamily cdwellings cand cfarm cproperties: A. cBusiness cProperty cInsurance B. cBuilding cProperty cInsurance C. cCommercial cProperty cInsurance D. cNone cof cthe cAbove c- ccorrect canswers✔✔C. cCommercial cProperty cInsurance (the cquestion cis cthe cdefinition cfor cthis cterm) Under cCommercial cProperty cPolicies, cFlorida claw crequires can cinsurer cto cgive cthe cinsured cat cleast c__________days cadvance cwritten cnotice cof cnon-renewal. A. c 25 B. c 90 C. c 45 D. cNone cof cthe cAbove c- ccorrect canswers✔✔C. c 45 Also, cnotice cmust cstate creasons cthe cpolicy cis cnot cto cbe crenewed. When ca cbusiness's cpersonal cproperty cvalues cfluctuate, ca csingle, cfixed camount cof cinsurance ccould cproduce ceither cover- cor cunder-insurance cat cany cgiven ctime. cWith cthis coption, cthe climit cof ccoverage cis cset cat can camount csomewhat chigher cthan cexpected cpeak cvalues. A. cValue cReporting B. cReplacement cCost C. cAgreed cValue D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cValue cReporting Replacement cCost cis cincorrect cb/c cit ccalculates cmonetary cvalue cof cone's cpersonal cproperty Liberalization cstates, c"The cinsured cgets cthe cbenefit cof cany cbroadened ccoverage cif cthe ccompany, cwithin c__________ cdays cof cinception, cadopts ca cform crevision cthat cis cbroader cand cwithout cincrease cin cpremium."
A. c 10 cdays B. c 55 cdays C. c 65 cdays D. c 45 cdays c- ccorrect canswers✔✔D. c 45 cdays Used cto ccover cbuildings cin cthe ccourse cof cconstruction: A. cBuilders cRisk cPolicy B. cBuilders cReplacement cPolicy C. cConstruction cReplacement cPolicy D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cBuilders cRisk cPolicy Includes: cstructure cbeing cbuilt c(including cfoundations), cfixtures cand cmachinery, cequipment cto cservice cbuilding, cowned cmaterials cand csupplies cused cfor cconstruction. cTemporary cstructures cbuilt cor cassembled con csite care calso cincluded cif cnot ccovered cby cinsurance. First cdeveloped cas can cextension cof cOcean cMarine ccoverage, cto cprovide ccoverage cfor ccargo ctraveling cover cland, cinstead cof cby csea. A. cCommercial cInland cMarine cCoverage B. cPersonal cInland cMarine cCoverage C. cOcean cCommercial cCoverage D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cCommercial cInland cMarine cCoverage Definition: cto chelp cidentify ckinds cof crisks cwhich care celigible cfor ceither cOcean cor cInland cMarine cinsurance. Protects cagainst closs cof cbusiness cincome cthat cresults cfrom cdamage cto ccovered cproperty cfrom ca ccovered ccause cof closs. A. cBusiness cIncome cInsurance cCoverage B. cBusiness cIncome cReplacement cCoverage C. cBusiness cIncome cActual cValue cCoverage D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cBusiness cIncome cInsurance cCoverage Period cof crestoration cbegins c 72 chours cafter cdate cof cdirect cdamage. cIn ceffect, ccoverage chas ca c 72 chour cdeductible. c Coverage cends con ceither c1. cdate cwhen cdamaged cproperty ccould cbe crepaired, crebuilt, cor creplaced c2. cdate cbusiness cresumes coperations cat cnew, cpermanent clocation c(whichever ccomes cfirst) What cpayment ccovers cseveral careas cof ccosts crelated cto cclaims, cand care cpayable cin caddition cto cthe cpolicy climits? A. cSupplementary B. cLiability C. cPersonal cInjury D. cAll cof cthe cAbove c- ccorrect canswers✔✔A. cSupplementary Generally, call ccosts cof clitigation care ccovered c(court ccosts, cprejudgment cinterest, cjudgement cinterest, ccost cof cbonds cto crelease cattachments)
The cNuclear cEnergy cLiability cExclusion cendorsement, cin cgeneral, c__________ call chazards crelated cto cnuclear cenergy. A. cIncludes B. cExcludes C. cProhibits D. cSummarizes c- ccorrect canswers✔✔B. cExcludes Firms cinvolved cin cNuclear cactivities creceive cprotection cfrom cspecial cinsurer cpools corganized cfor cthat cpurpose. Toxic cwastes cescaped cfrom ca cgas cstation cdisposal ctank. cThe cinsured coperator cdiscovers cthe cleak cand ccleans cup cthe cspill. cUnfortunately, cthe cwaste cquickly cseeped cinto cthe cground cand chas ccaused cillness camong cthe cresidents cof ca cneighboring ccommunity cThis cis can cexample cof? A. cLoss cKnown B. cKnown cLoss C. cClaims-Made D. cNone cof cthe cAbove c- ccorrect canswers✔✔B. cKnown cLoss Insurer cshould chave cbeen cnotified cand cfurther cinvestigation cof cthe cspill cand ceffective cclean-up cwould chave cbeen cobserved. Applies cto cBI cor cPD cwhich coccurs cduring cthe cpolicy cperiod, cregardless cof cany clater ctime cat cwhich ca cclaim cis cmade: A. cOccurrence cForm B. cClaims-Made cForm C. cPremises cand cOperations cExposure D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cOccurrence cForm vs. cClaims-Made: capplies conly cto cBI cor cPD coccurring con cor cafter cretroactive cdate cfor cwhich cclaim cis creceived/recorded cduring cpolicy cperiod Applies conly cto ca cBI cor cPD cwhich coccurs con cor cafter cthe cretroactive cdate, cand cfor cwhich cthe cclaim cis creceived cor crecorded cby can cinsured cor cthe ccompany cduring cthe cpolicy cperiod: A. cOccurrence B. cClaims-Made C. cOperations cCompleted D. cNone cof cthe cAbove c- ccorrect canswers✔✔B. cClaims-Made Retroactive cdate cis cstated cin cDeclarations cand cwill cnormally cbe csame cdate cas cissuing ccompany's cfirst cclaims-made ceffective cdate cfor cinsured. All cof cthe cfollowing care ccomponents cof cWorkers cCompensation, cexcept: A. cUp cto c$750,000 cin cDeath cBenefits B. cReimbursement cfor cMedical cExpenses cincurred C. cReimbursement cfor clost cwages con cpercentage cbasis D. cFuneral ccosts cup cto c$7,500 c- ccorrect canswers✔✔A. cUp cto c$750,000 cin cDeath cBenefits
Compensation cfor cdeath cis cpayable cif cdeath cresults cwithin cone cyear cof can caccident cor cif cit cfollows cdisability cwithin cfive cyears cof caccident. The cfollowing care cclasses cof cdisability, cexcept: A. cPermanent cTotal B. cTemporary cTotal C. cPermanent cImpairment D. cTemporary cFull c- ccorrect canswers✔✔D. cTemporary cFull Also cincluded: cTemporary cPartial The cmeasure cto cdetermine cdisability cbenefits cis cthe c__________ cof cthe cemployee cat cthe ctime cof cinjury: A. cAverage cMonthly cWage B. cAverage cWeekly cWage C. cAverage cDaily cWage D. cIncome cEstimate c- ccorrect canswers✔✔B. cAverage cWeekly cWage Disability c- cincapacity cdue cto cinjury cto cearn csame cor cany cother cemployment cwages cthat cemployee cwas creceiving cat ctime cof cinjury. Mandatory cfor crisks cexceeding ccertain cannual cpremiums, crecognizes cthe cprior closs cexperience cof cthe crisk cand capplies ceither ca cdebit cfor cunfavorable cexperience cor ca ccredit cfor cbetter-than-expected closs cresults. cThis cis cdefined cas: A. cThe cExperience cRating cPlan B. cThe cRetrospective cRating cPlan C. cThe cRisk cPlan D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cThe cExperience cRating cPlan This, calong cwith cRetrospective cRating cPlan, cis ca cmanual crating cprocess cuntil cpremiums creach ca ccertain clevel. Under cworkers ccompensations, ca crate cis ccharged cfor cevery c__________ cof cpayroll cto cemployees. A. c$ B. c$1, C. c$ D. c$500 c- ccorrect canswers✔✔A. c$ The cNational cCouncil con cCompensation cInsurance cenforces cthis crating. Under cWorkers cCompensation, cPart cFour cYour cDuties cif cInjuries cOccur, can cemployer cis crequired cto: A. cProvide cthe cnames/addresses cof cinjured cpersons cand cwitnesses B. cPromptly cprovide cany clegal cpapers C. cCooperate cand cassist cas cinsurer crequests D. cAll cof cthe cAbove c- ccorrect canswers✔✔D. cAll cof cthe cAbove Also cincluded: cimmediate ccontact cwith cinsurer, cproviding cimmediate cmedical cor cother cservices, cdo cnothing cto cinterfere cwith cinsured's cright cof crecovery, cmake cno cvoluntary cpayments cor cassume cany cobligation cexcept cat cemployer's cown ccost.
A. cThe cDiscovery cPeriod B. cThe cLoss cSustained cPeriod C. cThe cOpen cPeriod D. cAll cof cthe cAbove c- ccorrect canswers✔✔A. cThe cDiscovery cPeriod Crime cInsurance cis c_________ cover cany cother cInsurance ccoverage. A. cPrimary B. cSecondary C. cExcess D. cRecess c- ccorrect canswers✔✔C. cExcess A csituation cmay carise cwhere canother cform cof cinsurance cwill cpay cclaim c- cthat cinsurance cwould cbe cprimary. Cover conly closses cthat cboth coccurred cand cwere cdiscovered cduring cthe cpolicy cperiod, cor cwithin cone cyear cof cits cexpiration. cThis cis cdefined cas: A. cDiscovery B. cLoss cSustained C. cSustained cLoss D. cNone cof cthe cAbove c- ccorrect canswers✔✔B. cLoss cSustained One cexception cto cthe crule cis cthat cLoss cSustained cforms cwill calso ccover closses cthat coccurred cunder cprevious c(expired) ccrime cpolicies cand cthat cwere cdiscovered cduring ccurrent cpolicy cyear, cas clong cas ccrime ccoverage chad ccontinued cw/o cinterruption Any closs cdiscovered cduring cthe cpolicy cperiod cor cwithin c 60 cdays cafter cits cexpiration c(one cyear cafter cexpiration cfor closses cconnected cwith cemployee cbenefit cplans) cis ccovered cregardless cof cwhen cit coccurred. cThis cis cdefined cas: A. cLoss cSustained B. cValuation C. cDiscovery D. cNone cof cthe cAbove c- ccorrect canswers✔✔C. cDiscovery If cXYZ crestaurant cdiscovers cstolen cgoods ctaken cover ca cyear cago, cthis cis cwithin c 2 cyears cof cinception cdate cand cfound cwithin cpolicy cperiod cso cit's ccovered. Under cCrime cInsurance, cthe cinsured cis ccovered cfor closs cby: A. cTheft B. cBurglary C. cRobbery D. cAll cof cthe cAbove c- ccorrect canswers✔✔D. cAll cof cthe cAbove Unless cthe closs cis cspecifically cexcluded cor climited Provides cfor closs cof cmoney cand csecurities coutside cthe cpremises cin cthe ccare, ccustody cand ccontrol cof ca cmessenger cor carmored ccar cservice cresulting cfrom ctheft, cdisappearance cor cdestruction. cThis cis cdefined cas: A. cInside cthe cPremises B. cOutside cthe cPremises C. cCare, cCustody, c& cControl
D. cNone cof cthe cAbove c- ccorrect canswers✔✔B. cOutside cthe cPremises Also ccovers crobbery cof cother cproperty cunder cthe ccircumstances. Taking cor cattempted ctaking cof cproperty cfrom cwithin ca clocked csafe cor cvault, cby cunlawful centry, cwith cvisible cmarks cof cforcible centry, cor ctaking cof cthe csafe cor cvault cfrom cinside cthe cpremises. cThis cis cdefined cas: A. cSafe cBurglary B. cInside cthe cPremises C. cCustodial cBurglary D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cSafe cBurglary Exclusions: caccounting cerrors, cgiving/surrendering cproperty, cvoluntarily cparting, cfire c(except cdamage cto csafe/vault), cvandalism, ctransferring cproperty cto csomeone cbased con cunauthorized cinstructions cor cfrom cthreat cto charm Covers cfor call ctypes cof cproperty, cwhen csurrendered caway cfrom cthe cpremises cas ca cresult cof ca cthreat cto cdo cbodily charm cto cthe cinsured cor can cemployee, cor cto ca crelative cor cinvitee cof ceither, cwho cis c(or callegedly cis) cbeing cheld ccaptive. cThis cis cdefined cas: A. cExtortion B. cSurrendered cProperty C. cClient's cProperty D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cExtortion Also ctriggered cby cthreats cto cdamage cthe cpremises cor cproperty cwithin cthe cpremises. Employee cTheft cCoverage cmay cbe cwritten cin cthe cfollowing cways: A. cScheduled cPersons cCoverage B. cScheduled cPosition cCoverage C. cBlanket cCoverage D. cAll cMay cApply c- ccorrect canswers✔✔D. cAll cMay cApply Employee cTheft cmay cbe cwritten cin cthree cways. Which cof cthe cfollowing care cNOT ca ctype cof cbond? A. cContract B. cFiduciary C. cCourt D. cApprentice c- ccorrect canswers✔✔D. cApprentice Contract c- cfulfill cobligation Fiduciary c- cmake cgood cto ccourt cfor cany cdeficiencies cfound cin cperformance Court c- cprotect copposing cparty cfrom closs Which cof cthe cfollowing care ccharacteristics cof ca cLicense cBond? A. cTo cguarantee cthe clicensee cwill cact caccording cto claws B. cProtect cpublic cfrom cunfair cbusiness cpractice C. cProper ccollection cand cpayment cof ctaxes D. cAll cof cthe cAbove c- ccorrect canswers✔✔D. cAll cof cthe cAbove
Surety c- cguarantees cperformance *Indemnitor c- cmay cact cas cadditional cparty; cagrees cto creimburse csurety cfor cany closs This ctype cof cbond ccovers cstreets, csidealks, csewers, cetc.: A. cSidewalk B. cSubdivision C. cSupply D. cNone cof cthe cAbove c- ccorrect canswers✔✔B. cSubdivision Falls cunder cMaintenance cBond When ca cperson chas clost cstock ccertificates, cbonds cor csimilar cinstruments, ca cbond cis cgenerally crequired cby cthe cissuing ccompany cto creissue cthe cdocument. cThis cis cknown cas ca: A. cPublic cOfficial cBond B. cLost cInstrument cBond C. cPublic cInstrument cBond D. cNone cof cthe cAbove c- ccorrect canswers✔✔B. cLost cInstrument cBond Also cguarantees cto csave cissuer cfrom cany closs cgrowing cout cof clost cinstrument A c__________ cis ca cselected cgroup cof chospitals cand cmedical cpractitioners cin ca cgiven carea cwho chave cjoined ctogether cin can ceffort cto creduce cmedical ccosts. A. cHMO B. cMajor cMedical cInsurance C. cCoinsurance D. cPPO c- ccorrect canswers✔✔D. cPPO Most cplans cprovide cthat cemergency ctreatment cwill cbe cpaid ceven cif ctreated cparty cdoes cnot cgo cto cservice cprovider con capproved clist. Define cthe ccoverage cthat cpays ca cflat camount cper cday cfor chospitalization, cregardless cof cexpenses cor cother cinsurance: A. cHospitilization B. cHospital cIndemnity C. cHospital cServices D. cAll cof cthe cAbove c- ccorrect canswers✔✔B. cHospital cIndemnity This coptional cprovision cstates cthat cif cthe cinsured cbecomes ctotally cdisabled, cpremiums care cwaived cbut cthe ccoverage cremains cin cforce: A. cWaiver cof cSubrogation B. cWaiver cof cPremium C. cWaiver cof cValue D. cNone cof cthe cAbove c- ccorrect canswers✔✔B. cWaiver cof cPremium "premiums care cwaived" Provides ccoverage cfor cexpenses, cincluding closs cof cincome, carising cfrom can caccident. cThis cis cdefined cas? c A. cAccident cInsurance
B. cHospitilization C. cHospital cPay D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cAccident cInsurance Typical cexclusions cwould cbe: chernia, cwar, cdisease cand cbacterial cinfections, csuicide cattempts, cair ctravel cinjuries, caccidents cwhile ccommitting cfelony, caccidents cwhile cunder cthe cinfluence This ctype cof cprovision cstates cthe cinsurer ccan crefuse cto crenew cthe cpolicy conly cunder ccertain cconditions. cThe cpolicy cmust cstate cthe cconditions cunder cwhich cthe cpolicy cwill cnot cbe crenewed. cThis cis cdefined cas? A. cConditionally cRenewable B. cGuaranteed cRenewable C. cOptionally cRenewable D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cConditionally cRenewable vs. cOptionally: ccompany cmay cnot ccancel cduring cterm cbut creserves cright cto cnon- renew cupon cexpiration vs. cGuaranteed: cinsurer crequired cto crenew cpolicy cat cstated cage c(typically c65); ccompany creserves cright cto cincrease cpremium The ccoverage cthat cis cintended cto cafford cprotection cagainst ccatastrophic closses cis cdefined cas? A. cMajor cMedical B. cHMO C. cPPO D. cNone cof cthe cAbove c- ccorrect canswers✔✔A. cMajor cMedical Some cforms cdesigned cto csupplement cbasic cpolicies; cothers cprovide cboth cbasic cand ccatastrophic ccoverage A cpolicy cmay ccontain ca cprovision cwhich cstates ca cperiod cof ctime cbetween cissuance cand cacceptance cbefore csickness cbenefits cbegin. cThis cis cdefined cas: A. cWaiting cPeriod B. cElimination cPeriod C. cBoth cA c& cB D. cNone cof cthe cAbove c- ccorrect canswers✔✔C. cBoth cA c& cB This chelps ckeep cpremiums creasonable cby celiminating cchance cof cpersons cbuying ccoverage conly cwhen cthey care csick Characteristics cof can cHMO cplan cusually cinclude: A. cSmall cof cnon-existent cDeductibles B. cFewer cExclusions C. cInsurance cservices cto cmembers cthrough cemployed cphysicians D. cAll cof cthe cAbove c- ccorrect canswers✔✔D. cAll cof cthe cAbove Also cincluded: cbroad ccoverage, ccoinsurance cprovisions
cHomeowner ccustomer cwho ccalls cor cvisits cthe coffice. cThe cagent cprovides ctraining con cthe cnew cproduct. cAlthough cthe cCustomer cRepresentative cdoes cnot chave ca cLife cLicense, che cor cshe cfeels ccomfortable cwith cthe ctraining cand cdoes cas crequested. Which cof cthe cfollowing cis ctrue? A. cThis cpractice cis cacceptable cif cdone cin cthe coffice cunder csupervision cof cGeneral cLines cAgent B. cThis cpractice cis cacceptable cbecause cadequate ctraining cand cproduct cknowledge cwas cprovided C. cThis cpractice cis cunacceptable cand cmay cresult cin cthe csuspension cor crevocation cof cthe cCustomer cRepresentative's clicense D. cThis cpractice cis conly cacceptable cif cthe cproduct ctraining cwas ccertified cby cthe cLife cInsurance cCompany c- ccorrect canswers✔✔C. cThis cpractice cis cunacceptable cand cmay cresult cin cthe csuspension cor crevocation cof cthe cCustomer cRepresentative's clicense Unlike ca cCustomer cRepresentative, ca cGeneral cLines cClaim cAdjuster cneed cnot cbe cappointed cwith cthe cDepartment cof cFinancial cServices. A. cTrue B. cFalse c- ccorrect canswers✔✔B. cFalse While cselling can cAutomobile cpolicy cto ca ccustomer, can cagent ctells cthem cthat cthey care calso crequired cto cpurchase can cEmergency cRoad cService cPlan, ceven cthough cthat cis cnot ctrue. cThis cis can cexample cof: A. cMisrepresentation B. cLack cof cFitness C. cDeception D. cSliding c- ccorrect canswers✔✔D. cSliding A clicensed cGeneral cLines cClaim cAdjuster cis crequired cto ccomplete chow cmany chours cof ccontinuing ceducation cevery ctwo cyears? A. c 6 B. c 12 C. c 18 D. c 24 c- ccorrect canswers✔✔D. c 24 Once ca cCustomer cRepresentative c 4 - 40 chas cbeen clicensed cand cappointed cfor cat cleast c 3 cyears, che cor cshe cmay ctransact cinsurance cin cthe chome cof can cexisting ccustomer. A. cTrue B. cFalse c- ccorrect canswers✔✔B. cFalse After cpleading cguilty cor cno ccontest cto ca cfelony, ca clicensed cindividual chas c_________ cdays cto cinform cthe cDepartment? A. c 10 B. c 20 C. c 30
D. c 40 c- ccorrect canswers✔✔C. c 30 Must cbe clicensed, cappointed cby ca cGeneral cLines cAgent cand ccan ctransact cAUTO cinsurance conly cin cthe cOffice cOnly. A. cCustomer cRepresentative c 4 - 40 B. cLimited cCustomer cRepresentative c 4 - 42 C. cGeneral cLines cClaim cAdjuster c 6 - 20 D. cGeneral cLines cAgent c 2 - 20 c- ccorrect canswers✔✔B. cLimited cCustomer cRepresentative c 4 - 42 Defaming ca ccompetitor ccompany cor cagent cis cnot conly cunprofessional, cit ccan calso cresult cin ca clicense csuspension. A. cTrue B. cFalse c- ccorrect canswers✔✔A. cTrue A cGeneral cLines cClaim cAdjuster cis crequired cto cobtain cthe csame cnumber cof cContinuing cEducation chours cas ca clicensed cCustomer cService cRepresentative. A. cTrue B. cFalse c- ccorrect canswers✔✔B. cFalse An cInsurance cCompany cwhich cis cformed cunder cthe claws cof cthe cState cof cIllinois, cand chas cits cHome cOffice cthere, cis cconsidered ca: A. cUS cDomestic cCompany B. cForeign cCompany C. cAlien cCompany D. cUnadmitted cCompany c- ccorrect canswers✔✔B. cForeign cCompany Domestic: cthis cstate c(FL) Foreign: cother cstate c(still cin cUS) Alien: celsewhere One cwho cis cinvolved cin cthe cinvestigation, cadjustment, cnegotiation cand/or ctrial cpreparations cof cclaims carising cunder cinsurance cpolicies cis cdefined cas: A. cInsurance cAgent B. cGeneral cLines cAgent C. cClaims cAdjuster D. cAll cof cthe cAbove c- ccorrect canswers✔✔C. cClaims cAdjuster Commonly creferred cto cas cclaims cauditor Establishing ca cdollar cvalue con ca cclaim cis cdefined cas: A. cNegotiation B. cEvaluation C. cAdjusting D. cNone cof cthe cAbove c- ccorrect canswers✔✔B. cEvaluation For cbodily cinjury cand cuninsured cmotorist cclaims, ca csettlement crange cwill cbe cset crather cthan ca csingle cdollar camount
