ACA Accredited Claims Adjuster Quiz for State Farm
ACA Accredited Claims Adjuster Quiz
Test your knowledge and skills in claims adjusting with our comprehensive ACA Accredited Claims Adjuster Quiz designed specifically for State Farm. This quiz covers essential concepts, terminology, and practices that every claims adjuster should know.
Highlights of the quiz include:
- 120 multiple-choice questions.
- In-depth coverage of insurance principles.
- Focus on liability, property, and homeowners policies.
All of the following describe insurable interest EXCEPT :
Insurable interest must exist at the time of the loss.
Insurable interest must exist for insurance to respond.
Show a similarity between insurance and wagering.
The insured would suffer economic loss.
An insurance policy is a contract with all of the following characteristics EXCEPT :
Parties are of unequal power with ambiguities or unclear wording resolved in favor of the insured because it is a contract of adhesion.
It is a personal contract.
Indemnity is not a part of the insurance contract.
There are conditions imposed upon both the insurer and the insured.
An insurance contract may contain a "gray area" or an ambiguity, that is generally resolved in favor of the insured because insurance policies are contracts of:
Indemnity
Cohesion
Adhesion
Conditions
If an insured sells his car to another person, the buyer may be prohibited from also receiving the insured’s policy. This is because the insurance contract is a contract of:
Personal Nature
Indemnity
Adhesion
Actual cash value
Strict or absolute liability :
Is assigned by law or statute.
Applies to school systems
Must have failure to use "due care"
Considers the actions of a prudent person.
Jack and Connie - both 50 years old and of sound mind - agree to have Jack burn down Connie’s house for $10,000. What element of a valid contract is missing?
Legal Purpose
Competent Parties
Consideration
Agreement of the parties
Risks that are insurable are:
Speculative Risk
Pure Risk
Speculative Risk AND Pure Risk
None
Insurance that covers the responsibility for loss arising out of policy holder's negligence - that results in payment to a party other than the insured is:
Not available in Florida insurance policies
Fourth party claims
Standard property insurance
Liability
The goal of insurance is to restore the insured to the same economic position as before the covered loss occurred, this is the principle of:
Adhesion
Actual Cash Value
Indemnity
Severability
Liability limits may be expressed as a :
Aggregate Limit
Split Limit
Single Limit
All of the above
An insured has A SPLIT limit liability policy with 10/20/10 limits. He owes the following people liability bodily injuries claims of: Passenger 1 = $12,000, Passenger 2 = $10,000, Passenger 3 = $18,000. How much liability insurance will his policy pay for these claims?
$10,000
$20,000
$30,000
$40,000
If a lender has an insurable interest in an auto, because of the money loaned to finance the auto, the lender would appear on the policy as the:
Lessee
Loss Payee
Mortgagor
Mortgagee
To turn partially damaged property over to the insurance company and ask them to pay for a total loss is called
Morale Hazard
Abandonment
Conveyance
Proof of Loss
Firemen caused water damage to a property by spraying water to put out a fire. If the property insurance policy listed "fire" as the only named peril:
The water damage is not covered.
The fire department has a liability for the water damage.
The water damage is covered due to the concept of proximate cause.
The fire damage is covered but not the water damage due to proximate cause.
XYZ Insurance Corp. Filed its corporate charter in Tallahassee and has its home office in Tampa:
In Florida, XYZ is a domestic insurer.
In Florida, XYZ is a foreign insurer.
In Florida, XYZ is an alien insurer.
None of the above is true.
An insured has a home with a replacement cost / value of $100,000, on which he carries an insurance policy for $80,000 with an 80% Coinsurance clause. The insured has a $20,000 partial loss, the insurance company will pay how much for this partial loss of $20,000? (Remember $80,000 is 80% of $100,000)
$20,000
$16,000
$80,000
- 0 -
"Actual Cash Value" ACV means :
Replacement cost
Original cost minus depreciation
Current cost to replace
Current cost to replace minus depreciation
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 third party to recover a loss paid.
Requires 70% co-insurance
May allow insurer to divide the interests of the insured.
An insurer may sever the interests of 2 insureds so that the insurer can protect an innocent party - this is the Doctrine of:
Division of Interests
Severability
Specific Insurance
Insurability
All of the following may qualify for a dwelling policy EXCEPT:
A 6-family dwelling
A beach house owned by Acme Corporation
A small, single family home, rented by a salesman
An old frame home, built upon piers, valued at $10,000 and occupied by the owner, Mrs. Jones. Company underwriting minimum for a homeowner policy is $50,000.
All of the following are eligible for a Homeowners Policy EXCEPT:
A person who rents an apartment
A condominium owner
Owner-occupant of a four-family dwelling
A beach house owned by Acme Corporation
The principle of “insurable interest” is important in the dwelling policy as well as other kinds of insurance. Which of the following does not have “ insurable interest” in the described property?
The one who holds title to the property
One who inherits title to property under the terms of a will
One who attends a Mary Kay party at a friend’s property
A bank who holds a mortgage on a described property
Aunt Mary lives with the insured Homeowner. A thief steals her hearing aid. The HO-3 will:
Cover within the limits of the H/O policy
Not cover, unless the “guest endorsement” is included
Not cover, unless the “tenant endorsement” is included
None of the above
Which of the following is eligible for a Homeowners policy? I. Susie, who has purchased a condo unit for her residence. II. John, who buys a duplex and lives in one side. III. Sam, who rents an apartment for his residence.
I only
II only
III only
I, II, and III
Which of the following is NOT covered under the HO - Coverage C, Personal Property?
An insured's suitcase and clothing, valued at $1,500, stolen from his motel room while at a convention.
A fire breaks out in the residence and an overnight guest loses his clothes in the fire.
The insured's daughter's golf clubs are stolen from her locker at high school.
The dead fish when the insured accidentally overturns his tropical fish tank and all the fish die from lack of oxygen.
Under both the Dwelling and Homeowners, Coverage B – unattached structures coverage – usually is:
10% of Coverage A – Structure
25% of Coverage A – Structure
50% of Coverage A – Structure
10% of Coverage C – Personal Property
Which of the following forms is “all risks” on the dwelling policy?
DP-1, or the basic form
DP-2, or the broad form
DP-3, or the special form
None of the above, since “all risks” is not available on a dwelling policy
Which of the following is NOT one of the rating factors used in determining a H/O (Homeowners) premium?
Location of risk
Type of construction
Gender of owner
Fire protection available
Jane has a dwelling policy with the house insured for $40,000. If her detached shed, which is valued at $4500, is destroyed by a covered peril, what can she expect?
Nothing, unless she has endorsed her policy with “unattached structures” coverage.
She can expect the $4500 to be paid, since her policy protects her up to $40,000 for structures.
She can expect $4,000 to be paid, because unattached structures are covered up to 10% of the dwelling amount.
She can expect $4,000 to be paid, only if she has the proper endorsement to her dwelling policy.
Homeowners Policies usually insure property for which of the following?
Rising water – Flood, back up of sewer or drain
Inherent vice, underground seepage, governmental action
Freezing, wear & tear, marring, deterioration
Fire, lightning, theft
If the policy holder has a HO-3 policy with no endorsements and there is a fire – jewelry worth $20,000 in the house might be covered:
There is no coverage for jewelry in a homeowners policy
There is a $1500 limit for jewelry in the homeowners policy
Could be covered for $20,000 if the Coverage C limit is high enough
There is a $3000 limit for jewelry in the homeowners policy
A community applied to be part of the National Flood Insurance Program. Until they are approved, what is the status of the community?
They are in the regular program
They are in the seasonal program
They are in the emergency program
They are in the pending program
Which of the following would be excluded (NOT covered) under a personal articles floater on an “all risks” basis?
Insects destroy a valuable postage stamp worth $500
A personal art collection on display at a museum show is stolen
A sophisticated telescope is damaged in a fire
All of the above
Which of the following is false concerning flood insurance?
A community applies for flood coverage and during this time, it is in the "emergency program."
To be insured for flood, a new building only must have the walls up.
Two acres must be inundated with water – flooded.
Loss to a detached garage would be settled on an actual cash value basis.
All of the following are EXCLUSIONS under a personal articles floater (Personal Inland Marine Policy) EXCEPT:
Theft
Deterioration of insured article
Inherent vice – destruction contained within the object
Losses caused by vermin or insects
An Umbrella Policy may be broader than the underlying policies and respond as primary coverage. When the Umbrella is PRIMARY, there is an amount to be paid by the insured before the Umbrella will pay. What is this amount called?
The self-insured record
The self-insured retention
The self-insured reservation
None of the above
The coverage for damage to an aircraft under the care, custody, or control of the insured while the plane is in for storage or service is:
The “in storage” endorsement
Admitted aircraft liability
Hangar-keepers liability
Extra expense endorsement
Under the commercial property form, what length of time must expire before a building is considered “vacant”, thus suspending some coverages, while reducing payment on others?
10 Days
30 Days
45 Days
60 Days
A florist wanted coverage on business contents that vary in amount over the course of a year. Which form best covers this situation?
The value reporting endorsement
The peak season endorsement
The automatic increase in insurance endorsement
None of the above
A ship loaded with lumber encountered a terrible storm, and some of the lumber was thrown overboard to save the ship – this action is called:
Barratry
Jettison
Sue and labor
Running down clause
Both commercial property and liability were combined into one policy, thus saving money on underwriting expense. What is this combination called?
A package policy
A combination policy
A monoline policy
A valid policy
A contractor was concerned some of his tools, such as a welder, could be stolen from the job site. What inland marine form is best suited for this exposure?
Sprinkler leakage
Theft
Glass breakage
Windstorm
Condominiums may be covered by both an Association (Commercial Condo) Policy and a Unit Owners’ (Homeowners) Policy, which of the following is true?
The Unit Owners’ Policy is primary and the Association Policy is excess
The Association Policy is primary and the Unit Owners’ Policy is excess
There never would be both an Association Policy and a Unit Owner’s Policy on the same property at the same time
None of the above statements are true
There are advantages of an agent recommending a commercial package policy over several monoline policies. Which of the following is an advantage?
The package policy is easier to rate and sell – more efficient.
In the package policy, coverage gaps are less likely to occur.
Premium savings may result from a package policy.
All of the above
A shipper contemplates 10 or 11 loads of produce to be shipped to Pennsylvania over the course of the next 12 months. What inland marine coverage best fits this exposure?
A trip transit policy
A shipper’s policy
An annual transit policy
A motor truck cargo policy
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.
Businesses do not enter into leases.
None of the above.
A claimant ate some undercooked fish and got violently ill at the restaurant. Which of the following would pay for this occurrence?
A products and completed operations form
A premises and operations form
An owner’s and contractor’s protective liability form
A liquor liability form
A home oxygen service must continue to supply its customers even if the facility is destroyed by a fire. Consequently, the service may make purchases from one of its competitors to keep their own customers supplied with medically necessary equipment in order to have the opportunity to stay in business. Where is this type of insurance coverage found ?
Building and Personal Property Coverage form
Extra Expense Coverage form
Leasehold Interest Coverage form
Legal Liability Coverage form
Which of the following are covered exposures for bodily injury and property damage under the CGL (Commercial General Liability) Policy:
Products and completed operations
Contractual Liability
Contingent Liability
All of the above are available in the CGL policy
Who is covered for their exposure under the CGL – Commercial General Liability Policy?
Employees of the business
Volunteers, legal representative, trustee
Real estate manager
All of the above are covered
Under a CGL Occurrence liability form, which policy would cover an accident that occurred June 1, 1998, and was discovered and reported July 15, 2008:
A policy dated 1/1/98 to 12/31/98
A policy dated 1/1/99 to 12/31/99
A policy dated 1/1/08 to 12/31/08
No policy would cover a claim filed in 2008 for an accident in 1998
Under CGL, the Occurrence form – bodily injury or property damage must occur during the policy period – reporting of the claim may be:
Within policy period or thereafter with no limit on time
Made only within the policy period
Made within policy period or a 60-day period following policy expiration
None of the above
Under CGL Claims-made form, the Supplemental extended reporting period:
Is a 90 day period following policy expiration.
May extend the reporting period from one year to an indefinite time.
Must be selected before expiration of policy.
None of the above
A furniture manufacturing business wanted to serve free beer at its company picnic. What is required for this business to have liability coverage for liquor consumption at the picnic?
The business CGL policy will cover this exposure
The business CGL requires the liquor liability form in this case
The business CGL should have the “extension of coverage” endorsement
There is no way liability for alcoholic beverages can be included under CGL
Insurance agents and adjusters may have their professional activities covered under a type of liability insurance called:
Owners Protective Liability
Employment Related Practices Liability
Malpractice Liability
Errors and Omissions Liability
Which of the following is true concerning the definition of “accident” under the CGL (Commercial General Liability) ?
An accident may include continuous and repeated exposure to the same condition.
The accident must occur within the state where the insurance policy is written.
An accident must be a one-time occurrence, defined by time.
None of the above are true
Two of Any Corp. Employees were working and one was accidentally pushed into a machine that cut his arm. How would Any Corp’s general liability respond?
The liability section of the CGL would not pay, unless the medical payment section paid first
The medical payment section would pay up to $5,000
The CGL would not pay, since only property damage is covered under CGL
Neither CGL nor the med pay section would respond, and coverage for this accident is found under Workers Compensation
Sam was injured on the job and missed 22 days of work. Which of the following best describes the Workers Compensation payment to Sam?
Sam will be paid for 7 days, since there is a 7-day waiting period
Sam will be paid for 14 days, since there is a 7 day waiting period
Sam will be paid for all 22 days, since the 7 day waiting period is not imposed if the disability lasts more than 21 days
Sam will be paid for 29 days, the period of disability, plus the 7 day waiting period
All the following are components of the Workers Compensation EXCEPT:
Unlimited death benefits
Reimbursement for medical expenses incurred
Replacement for lost wages on a percentage basis
Funeral costs up to $7500
What is the limit on medical benefits under Workers Compensation?
66 2/3 % of medical costs
All medical costs with no limit
All medical costs up to the $150,000 death benefit
All medical costs up to the 100/100/500 employer liability limit
The following are employees who must have workers compensation EXCEPT:
Government employees
Pro athletes
Construction industry workers in companies with 1 employee
Private employers with 4 or more employees
If an insured’s administrative assistant fraudulently forged the insured’s name on a check, and cashed it, which of the following would cover this event?
Employee theft
Forgery or alteration
Robbery
Premises burglary
Under one form of crime insurance, losses must occur during the policy period and be discovered within 1 year of policy expiration. This is:
The calculated period
The Loss Sustained Form
The waiting period
The Discovery Form
Which of the following type of employee theft best fits a business with a large turnover in its personnel?
The Name Schedule coverage
The Basic Extended Reporting Period
The Blanket coverage
The firm should reduce its number of employees
A loss discovered during the policy period that occurred before the inception of the current policy may be covered by?
Discovery Form
Loss Sustained Form
Outside Premises or Events Insuring Agreement
Coverage like this is not available
Which of the following could be covered by crime insurance?
A burglar breaks into a locked safe and steals a ruby necklace.
An employee is robbed while taking the daily cash receipts to the bank.
A computer hacker breaks into a business computer and transfers a deposit to an account in the Cayman Islands.
All of the above
Insurance is considered a two-party contract, Surety Bonds are considered
Not a contract
Also a two-party contract
A three-party contract
Final payments
A builder contracted for framing on a new section of a hospital. There is a surety bond purchased to guarantee completion of the project. Which of the following best describes the hospital position in the surety bond?
The hospital is the obligee
The hospital is the principal
The hospital is the surety
The hospital is the indemnitor
The Surety attempts to avoid default by investigating the principal with regard to:
Character
Capability
Collateral
All of the above
The Surety bond that guarantees that companies will not misrepresent securities is
Lost Instrument bond
SEC Bond
IPO Bond
Blue Sky Bond
A Surety Bond that guarantees the performance of a person appointed by a court, or named in a will or trust to take possession of property, collect assets, make investments, pay debts, sell assets, carry on a business, distribute property to heirs, or any related tasks is what type ?
Fiduciary Bond
Federal Guarantee Bond
Performance Bond
Blue Sky Bond
Jane is a Florida resident with an auto. She has PIP coverage of $10,000 with no deductible. If she is in an auto accident and has medical bills of $10,000, how much will her PIP pay?
$10,000
$8,000
$2,000
0
If Jane also has work loss of $1000 due to the auto accident, how much will her PIP pay for work loss?
$10,000
$1,000
$800
$600
What if Jane’s accident happened during the work day while she was driving a GEICO owned auto and Jane was out adjusting auto claims. How much would Jane’s PIP pay for her medical injuries?
$10,000
$8,000
$6,000
Zero
If Jane had an accident while she was driving to Orlando to go to Disney and had borrowed her neighbor’s minivan so she could take 5 friends … how much would Jane’s PIP insurance pay for her medical bills of $10,000 and her work loss due to the accident of $1000?
$11,000
$10,000
$8,600
$8,000
If all 5 of Jane’s friends are Florida residents who own automobiles, how much of Jane’s PIP coverage is available for each of the 5 friends riding with her in the borrowed minivan?
$10,000
0
$2,000
$8,000
What if Jane has 5 children and she is taking them all to Disney for the day … how much total PIP coverage is available from Jane’s PIP to Jane and her 5 children in the friend’s minivan?
0
$10,000
$50,000
$60,000
How much would Jane’s PIP pay if the auto accident caused injuries to Jane that created $12,000 in medical bills and Jane had a $1000 PIP Deductible?
$10,000
$12,000
$8,600
$8,800
Which of the following is NOT one of the “thresholds” in the “No-Fault” law?
Death of the insured
The temporary injury of the insured
A permanent loss of a bodily function
A permanent scarring on the face of an actress
Which of the following is a “defined motor vehicle” under Florida No-Fault law?
Golf cart
Public transit bus
9,500 pound SUV
Motorcycle
If an insured is injured by an at-fault driver, and has injuries of $5,000, what amount will PIP pay if he has Florida No-Fault Basic PIP with a $1,000 deductible?
$3,000
$3,200
$4,000
$5,000
Which of the following could NOT be considered an “owner” of a motor vehicle?
A debtor in possession.
A long term lease of 3 months
The title holder of the auto.
One who lease-purchases with a time frame of 6 or more months.
Which of the following is true concerning the extended PIP endorsement?
Medical expense reimbursement is raised from 60% to 100%
Medical expense reimbursement is raised from 60% to 80%
Medical expense reimbursement is raised from 60% to 70%
Medical expense reimbursement is raised from 80% to 100%
When an Additional PIP Endorsement is added to the Personal Auto Policy, we know that the policy already has
UM coverage
Named Non-owned Endorsement
Extended PIP Endorsement
None of the above apply
Nonresidents must comply with the Florida No Fault law:
They do not ever come under this law
If they are driving in Florida
If their auto is in Florida 30 consecutive days
If their auto is in Florida over 90 of the last 365 days
When is the named insured NOT entitled to PIP benefits?
Injured in Florida while a pedestrian struck by a defined motor vehicle
Injured outside of Florida in their own insured Florida vehicle
Injured outside of Florida while a pedestrian struck by a defined motor vehicle
Injured in Florida in a borrowed defined motor vehicle
Which of the following statements is false concerning No-Fault Auto Insurance?
There is not complete immunity under Florida’s No Fault law
Covers insured’s resident relatives
Negligence must be established.
It covers loss of income due to injuries from an auto accident.
An insured has Basic PIP with no deductible, in an accident he incurs medical bills of $8,000, $1,000 in lost wages, and $500 in replacement services - how much will PIP portion of policy pay?
$7,500
$9,500
$6,400
$8,000
The “trigger” of the financial responsibility law is:
Carrying a gun in a personal auto
Buying a second personal auto
An accident involving bodily injury or property damage rendering the vehicle inoperable or a serious violation such as DUI.
All of the above
Which of the following is the lowest single limit automobile liability that meets the requirements of the Florida Financial Responsibility Law?
$10,000
$20,000
$30,000
$50,000
An insured had an accident in another state that required liability limits of 25/50/25. Our insured had 10/20/10 limits. What happens if the liability he incurs exceeds 10/20/10?
Our insured’s license will be revoked since he did not comply with the other state’s requirements
Our insured’s policy will respond to the higher limit of the other state
Our insured’s policy will pay up to its 10/20/10 limits and the insured will be responsible for any balance
None of the above
Joe has 10/20/10 liability limits, and he borrows Sue’s car. Sue has 15/30/15 limits of liability. Joe injures a pedestrian while driving Sue’s car and the pedestrian’s medical bills due from liability total $22,000 (PIP & Med Pay are paid out in full). How much is paid from Liability?
Sue’s policy pays $15,000 & Joe’s policy pays $7,000
Sue’s policy pays $11,000 & Joe’s policy pays $11,000 (pro-rata).
Sue’s policy pays $15,000 & Joe’s policy pays $10,000
Sue’s policy pays $ 7,000 & Joe’s policy pays $15,000.
Your insured has purchased the minimum split limit policy that meets Financial Responsibility Law in Florida. He causes the following bodily injuries to passengers: Carl $12,000 Jeanne $10,000 Charlie $10,000 How much will his policy pay?
Nothing
$10,000 each to all that were injured
$20,000 for the total BI portion of accident
$32,000 total for all injuries from Part A Liability
An insured has 25/50/25 limits and injured another person. The injured person won a tort claim for $30,000 against the insured and the insured’s attorney charged $7,500 to defend the insured. How much is paid by the insured’s insurance company?
0, since the insured was at-fault.
$50,000, the policy limit.
$37,500, the actual damages and the attorney’s fees for defense.
$32,500, the policy limit and the attorney’s fees for defense.
If an insured has $100,000 of “unstacked” UM, and 2 cars on the policy, how much is available under a UM claim?
- 0 -
$100,000
$200,000
$300,000
An insured has $100 deductible Other Than Collision, and $250 deductible Collision. If a rock breaks his windshield and repairs total $675, how much will be paid?
Payment only will be made if he is not at-fault
$425, under Collision with a $250 deductible
$575. under Other Than Collision, with a $100 deductible
$675, under Other Than Collision, with no deductible
When searching for insurance solutions to pay for personal injuries from an auto accident, the order of payment in Florida in most cases, would be:
PIP, Uninsured Motorist, Med Pay, Liability
Med Pay, Uninsured Motorist, PIP, Liability
PIP, Med Pay, Liability, Uninsured Motorist
Liability, PIP, Med Pay, Uninsured Motorist
An insured and his spouse have two cars insured under a Personal Auto Policy. What coverage is available for a car that the wife borrows from a friend to use for the weekend?
There is no automatic coverage.
The borrowed car would have the same coverage as the least covered vehicle.
The borrowed car would have the broadest coverage available on the policy.
Coverage would extend to the borrowed car if notified her insurer prior to use.
Jack is involved in an accident – he is driving his car when hit by an at-fault driver, Sam. (Florida residents). Jack has two more cars at home. Both Jack and Sam have Basic PIP with no deductible, Med Pay coverage of $5,000, Liability of 50/100/50, and Stacked Uninsured Motorist of $50,000 on each car that they own. Jack has a medical claim of $215,000. How much will Jack’s Uninsured Motorist pay for this claim?
- 0 -
$50,000
$100,000
$150,000
An insured buys an ISO Mechanical Breakdown Coverage Policy on his used car. For what length of time and mileage will he have coverage?
12 Months / 12,000 Miles
24 Months / 24,000 Miles
36 Months / 36,000 Miles
Not available for used cars
If Jack has an accident that is his fault, Jack has liability insurance with 10/20/10 limits, Extended PIP with no deductible, & Med Pay of $2,000 … what is the maximum potential payment from Jack’s Personal Auto Policy to a guest passenger, who suffers injury and does not own an auto, has no auto insurance and has $42,000 in medical expenses?
$10,000 (80% PIP + $2,000 Med Pay)
$32,000 ($10,000 PIP; $2,000 Med Pay; $20,000 BI)
NONE – Needs to have Health Insurance.
$22,000 (PIP $10,000; Med Pay $2,000; BI $10,000)
UM (Uninsured Motorist) coverage under the PAP (Personal Auto Policy) pays for:
Damage to the insured’s car caused by hit and run driver
Bodily injury to the insured caused by hit and run driver
Injury to a pedestrian caused by the insured
None of the above
Lender’s interests in REAL property are protected with a Mortgage clause, how are lender’s interests protected in personal property – such as automobiles?
Waiver clause
Mortgage clause
Loss payable clause
Assignment clause
While driving on the Pennsylvania Turnpike, William’s auto has a collision with a deer that jumps in front of his car. In order for coverage to be afforded, William’s Personal Auto Policy must have:
Extended Non-Owned coverage
Uninsured Motorists
Collision coverage
Other than Collision coverage
An insured took his TV to a shop for repairs, on the way, he stopped suddenly and the TV fell off the seat, breaking the TV. How will his PAP (Personal Auto Policy) respond?
An insured took his TV to a shop for repairs, on the way, he stopped suddenly and the TV fell off the seat, breaking the TV. How will his PAP (Personal Auto Policy) respond?
The PAP will respond under physical damage section minus deductible.
The PAP will pay Replacement Cost for the TV.
The PAP will not respond.
An insured has “Stacked” Uninsured Motorist with 25/50 limits on each of 2 vehicles that he owns. How much Uninsured Motorist coverage is available to the insured in the event of an accident with a hit & run driver?
25/50
50/100
10,000
Not covered in this case
The business auto policy has flexibility to meet the needs of various commercial enterprises. It is used to cover vehicles NOT covered by the Personal Auto Policy. Which the following vehicle would NOT be insured with a business auto policy:
Autos used for business related purposes on a regular basis.
Autos weighing 12,000 lbs. Gross vehicle weight.
Autos titled in the name of a corporation or other business interest.
All of the above would qualify for a business auto policy.
In the business auto policy, symbol 1 is a broad coverage often used for liability to denote:
any auto”
owned autos only”
owned private passenger autos”
owned autos other than private passenger autos”
In Section II of the Business Auto Policy, liability is available for:
Named insured.
Permissive operators of autos owned, hired or borrowed.
Anyone insured is vicariously liable for.
All of the above
Exclusions under the liability section of the business auto policy include:
Exclusions under the liability section of the business auto policy include:
Liability for pollution, except from the normal operating fluids of the vehicle.
Liability arising from mobile equipment.
All of the above are excluded.
Which of the following is covered under the Garage Policy?
Employee injuries
Customer’s property under the care, custody and control of the garage
Garage location
Product recall
Which of the following is NOT one of the duties of the Florida Department of Financial Services?
The Department investigates charges of unethical conduct.
The Department writes policies for the non-standard insurance companies.
The Department issues licenses for adjusters & customer service representatives
The Department approves various policy forms used by companies.
Continuing education requirements to maintain a Customer representative license are:
Not required for 4-40 license.
Only required for general lines agent license.
Ten hours every two years.
Five hours every three years.
The Continuing Education requirement to maintain an Adjuster license (5-20 or 6-20) in Florida is:
Not required for any adjuster license.
Only required if adjuster does worker compensation.
24 hours every two years.
Five hours every three years,
When an insurance licensee ends his appointment with an authorized company in Florida, he has how long to secure another appointment?
10 Days
12 Months
24 Months
48 months
When an insurance licensee moves, he has how long to notify the Florida Dept. of Financial Services of his change of address?
10 Days
30 Days
60 Days
180 Days
Activities that may result in license suspension or revocation include:
Transacting insurance outside the scope of the license
Misrepresentation or fraud
Participating in “Unfair methods of competition” or “Unfair Practices”
All of the above
Activities that may result in license suspension or revocation include:
Using discriminatory practices
Making false entries on an insurance application
Defaming another agent or company
All of the above
All of the following are true concerning Joint Underwriting Associations EXCEPT :
Operations overseen by a board of governors
Policyholders must be unable to purchase coverage on the open market
Citizens replaced FRP&CJUA and Florida Windstorm
It is not possible to purchase a Homeowners or Dwelling Policy from Citizens
John wrote a policy through the Florida Automobile Joint Underwriting Association, and the company issued the policy. What is the company issuing the policy called ?
A standard carrier
A servicing carrier
A non-standard carrier
A competent carrier
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