Florida Adjuster All Lines Exam With Verified And 100% Correct Answers, Exams of Advanced Education

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Florida Adjuster All Lines Exam With

Verified And 100% Correct Answers

The Adjuster's Code of Ethics starts with a basic premise which states: - Correct Answer-The work of adjusting engages the public trust Once an adjuster is licensed he or she must maintain a continuing education requirement. Select from the following an adjuster's compliance requirement in order to stay licensed: - Correct Answer-A newly licensed adjuster must complete 24 hours of continuing education in every two year compliance period, of which 5 hours must be taken in a properly certified 5 Hour Law & Ethics Update course A claim in the property/casualty industry is defined as: - Correct Answer-An assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damage Describe the coverages provided in a split limit policy of 10/20/10 - Correct Answer-The coverage provides up to $10,000 of liability protection for bodily injury to any one individual, an aggregate of $20,000 for all bodily injuries regardless of how many individuals, and $10,000 for property damage What is the primary difference between a staff adjuster and an independent adjuster? - Correct Answer- A staff adjuster works for an insurance company and an independent adjuster works independently for themselves or for adjusting firms who represent many clients In todays society the most important factor in the purchase of insurance is: - Correct Answer-Trust Negligence is described as: - Correct Answer-Fault that arises from doing something you shouldn't have done, or not doing something you should have done One of the most important claim handling goals of an Insurance Company is: - Correct Answer-To help those who have been injured or who have suffered loss for which the insured is responsible, while at the same time minimizing loss for the insured party and carrier

The doctrine of proximate cause is defined as: - Correct Answer-if there is an unbroken chain of events, or series of sequences, flowing from the initial loss caused by the Insured peril to a subsequent loss, the insured peril causing the initial loss will be considered the "proximate cause" of the subsequent loss. The fundamental difference in adjusting claims in the healthcare industry and in the property/casualty (i.e. worker's compensation, liability, etc. ) industry is: - Correct Answer-The relative degree of legalism involved. To adjust claims in the property and casualty industry one must have a sound foundation and understanding of various legal doctrines and issues When you purchase insurance, you are buying: - Correct Answer-Peace of mind that if an insured event does occur, that the insurance company will keep its promise and provide the financial protection that you purchased An insurance policy is often referred to as a contract of adhesion. This means: - Correct Answer-If any of the wondering or language in the policy is vague or ambiguous, if the meaning of the wording is difficult to understand or interpret or if what is written can be interpreted to have different meanings the law is well settled that the interpretation shall be in favor of the party who did not control its term....in this case, the policyholder The basic and primary functions of an adjuster are: - Correct Answer-Investigating, managing, evaluating, reporting on, and negotiating and disposing of claims Which of the following is NOT an example of " compensatory damages": - Correct Answer-A jury verdict of $1,000,000 against the defendant to punish them for their reprehensible actions in causing the loss Breach of contract by a carrier or its adjuster, through non-payment or non-compliance with policy requirements, could have which of the following consequences for a carrier ( select one from the following): - Correct Answer-If found guilty of a breach of contract the carrier could be punished with a "bad faith" verdict that would cost it millions of dollars An adjuster's responsibility as a fiduciary means: - Correct Answer-The adjuster represents and controls the property and financial interests of the client to whom he/she owes a high degree of loyalty and good faith