Florida All Lines Claims Adjuster Exam Questions and Answers, Exams of Nursing

Download Florida All Lines Claims Adjuster Exam Questions and Answers and more Exams Nursing in PDF only on Docsity! 1 / 4 Florida All Lines Claims Adjuster Exam Questions with Correct Answers 2024-2025 1. What is an eligible building for flood insurance?: A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community 2. What is Builders Risk Coverage?: Covers buildings in the course of comple- tion. Proper coverage is 100% of expected completed value 3. Do all Homeowners policies contain Coverage A?: No, HO-4 (Renters per- sonal property) 4. What is casual labor in workers' compensation?: Labor that is casual, irreg- ular, limited or temporary purpose. 5. What is the waiting period for worker's compensation disability?: 7 days prior to the payment of disability benefits. If a disability lasts more than 21 days, benefits will be paid from the first day of injury. 6. What are the parties to a surety bond: Principle, Obligee, Surety, and Indem- nitor 7. How does a crime policy value money and securities?: Money is valued at face value. Securities are valued on the day the loss was discovered. 8. How is the employee theft coverage written?: Scheduled persons coverage, Scheduled position coverage, and blanket coverage 9. What is the deductible in an umbrella policy?: No deductible, this is liability coverage 10. What are the types of Health Insurance?: HMO and PPO 11. What is the limit of medical expenses in workers' compensation?: There is no limit 2 / 4 Florida All Lines Claims Adjuster Exam Questions with Correct Answers 2024-2025 12. What does workers' compensation provide for funeral expenses?: If death results within one year of an accident, or follows a continuous disability within 5 years, then actual funeral expenses, not exceeding $7500 13. What is Ocean Marine coverage?: Oldest form of insurance known. Covers perils associated with water transport. 14. What is Inland Marine Coverage?: Covers the cargo traveling overland, instead of by sea. 15. What is "all risk" coverage in a homeowners policy?: Property insurance covering loss arising from any fortuitous cause except those specifically excluded 5 / 4 Florida All Lines Claims Adjuster Exam Questions with Correct Answers 2024-2025 30. If an adjuster has a change in name, telephone or address, in what timeframe must an adjuster notify the department?: 30 days 31. What is the requirement for dealing with elderly clients?: Exercise extra- ordinary care 32. What parties pay the cost of mediation?: It shall be borne equally by both parties unless the mediator determines that one party has not mediated in good faith. 33. What is "transacting" insurance?: Soliciting, inducing, negotiating or effec- tuating a contract of insurance. 34. What is the standard deductible in a Commercial Policy?: $500 35. What does the policy limit represent?: Maximum amount that the policy will pay 36. When is a public adjuster allowed to acquire an interest in Salvaged Property?: With written consent and permission of the insured 37. What is FWCJUA?: Florida Workers Compensation Joint Underwriting Asso- ciation 38. What is an HMO: Has a physical facility in which to see patients. Requires a patient to visit with an approved provider or fees will generally be denied. 39. What is a PPO: Does not have a physical facility, patients visit with their family doctor. If those providers have a contract with the PPO, services will be paid. Most PPO plans provide that emergency treatment will be paid for even if patient doesn't go to a provider on the list. 40. Does mechanical breakdown insurance pay repairs?: no 6 / 4 Florida All Lines Claims Adjuster Exam Questions with Correct Answers 2024-2025 41. Accident: Includes continuous or repeated exposure to the same conditions resulting in bodily injury or property damage that is neither expected nor intended by the insured 42. Average: loss or damage 43. What are the parts of an insurance contract?: Declarations, Insuring Agree- ment, Exclusions, and Conditions 44. Requirements to win a claim for negligence?: Plaintiff must prove the de- fendant had a duty to act or not act, that they breached that duty, that the breach of duty was the cause of the plaintiffs injuries, and that there were actual injuries to the plaintiff 7 / 4 Florida All Lines Claims Adjuster Exam Questions with Correct Answers 2024-2025 45. What is a contract of adhesion?: Means the insured cannot negotiate the terms of the contract 46. What is a Direct Loss?: physical harm or damage to tangible property