Florida Test Study Guide - Public Adjusting 3-20 (Set 1) 2023 Questions with Complete Solutions Those who are eligible for coverage under the Florida Automobile Joint Underwriting Association are? - Correct Answer Military Personnel A non-resident owning an automobile in Florida A non-resident subject to Florida no-fault law A forcible entry into locked premises and the carrying away of the property of others is a
definition of: - Correct Answer Burglary
The inland marine coverage form that covers clothing, cameras and other portable property worn and carried by tourists and travelers is a: - Correct Answer Personal effects floater A residual market to alleviate the temporary unavailability of property insurance coverage in significant portions of Florida (e.g. homeowners face non-renewal or cancellations) - Correct Answer Residential Property & Casualty Joint Underwriting Association for property owners.What does the property insurance term "improvements and betterment" apply to? - Correct Answer Real Property The penalty imposed upon a Florida licensee who violates a cease and desists order
issued by the CFO: - Correct Answer $50,000 Fine
What is amount is personal property used for business purposes, under a Homeowners policy covered up to - Correct Answer up to $2500 on premises up to $1500 off premises If a replacement costs exists, but the insured has a policy for only 50% of the replacement cost, what percentage will the insured received for the loss? - Correct Answer 50% of the settlement amount A statement that is believed to be true when made, which my prove to be false. - Correct Answer Representation
A statement that is guaranteed to be correct: - Correct Answer Warranty
When can an insured cancel his/her policy? - Correct Answer At any time.In Florida, how many days in advance of a premium due date must an auto insurer provide notice of renewal to an insured? - Correct Answer 30 days written notice 1 / 2
What deductibles are subject to any aircraft physical damages that differ according to circumstances surrounding a given loss? - Correct Answer In-flight Ded (greatest amount) Not-in-Motion (least amount) They apply independently based on the actual loss Uninsured Motorist's Coverage form, the insured can request: - Correct Answer Non- stacked Coverage Stacked Coverage UM coverage at the limits lower than those that apply for liability coverage If a mortgage is acknowledged in the policy and the insured concealed the fact that a hazard exists to the insurance company, would the mortgage have a right to recover its full loan value? - Correct Answer Yes Under Florida Comparative Negligence law how much would one be able to recover if they were found 25% at fault? - Correct Answer 75% (the difference) If a claimant is under the influence of drugs and/or alcohol and is found to be 50% or more at fault, how much can they recover? - Correct Answer $0.00
A commercial property coverage part includes: - Correct Answer Common policy
conditions Commercial property declarations One or more causes of loss forms When an insurance adjuster advises an insured to misrepresent the claim by suggesting how to report a claim, the adjuster should be charged with: - Correct Answer Unfair Claims Act The "outside premises" policy insuring agreement covers: - Correct Answer Loss of money and securities and other property outside the premises.The insurer cannot prevent a public adjuster from meeting with their client after: - Correct Answer the insurer has been notified of the existence of a contract DP-1 is basic Dwelling Coverage. What is the only water damaged covered under this form? - Correct Answer Damage caused by water used to extinguish a fire In Florida, any policy that contains a separate hurricane deductible must include: - Correct Answer the actual dollar value, bold print and notice of high-out-of pocket expense to you
Coverages included under a commercial packaged policy (CPP): - Correct Answer
Farm Coverage
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