Florida 6-20 All Lines Adjuster Test Questions and Answers 100% Pass

Florida 6-20 All Lines Adjuster Test Questions and Answers 100% Pass

According to the Business Auto definitions, an "accident":

A. Includes continuous or repeated exposure to the same conditions.

B. Must be sudden and unexpected.

C. Must be unexpected and unpreventable.

D. Is any event that causes injury or damage. {{Correct Ans- A. Includes continuous or repeated exposure to the same conditions.

Joseph Young, who is insured under a Business Auto policy, is involved in an accident. He and the insurance company disagree on the amount to be paid for the damage to his car. Under the terms of the policy, which of the following statements is true?

A. Each party engages an appraiser, and the appraisers will select an umpire.

B. Mr. Young must accept the insurance company's estimate.

C. Each party engages an appraiser, and the appraisers will decide the amount.

D. The estimates of both parties will be averaged. {{Correct Ans- A. Each party engages an appraiser, and the appraisers will select an umpire

Under Form MCS-90, a _____ notice to the other party is required for cancellation of coverage on the part of either the insurer or insured.

A. 10 day

B. 72 hour

C. 14 day

D. 35 day {{Correct Ans- D. 35 day

Which of the following is considered a "garage operation"?

I. Ownership, maintenance or use of garage premises.

II. Sale of products or services in connection with garage operations.

III. Ownership or maintenance of covered autos.

IV. Production or support of racing or competitive operations.

A. I and II only.

B. I, II, and III only.

C. I and III only.

D. I, II, III, and IV. {{Correct Ans- B. I, II, and III only.

Which of the following would be covered under a Garage Liability Policy?

A. Damage to property the insured is transporting to another location.

B. The use of covered autos leased to another party except as a replacement for a car under repair.

C. Products and completed operations.

D. Covered autos used in organized racing. {{Correct Ans- C. Products and completed operations.

Which of the following pollution losses would be covered under the Garage Liability Policy?

I. Escape of toxic sludge from a dumpsite the named insured utilizes to store garage waste.

II. Pollution of a creek caused by a gasoline leak from the ruptured fuel tank of a covered truck following a collision with another vehicle.

A. I only.

B. Both I and II.

C. Neither I nor II.

D. II only. {{Correct Ans- D. II only.

Garage keepers’ coverage excludes all of the following losses, except:

A. Loss to a high-value stereo system permanently installed in a customer's auto.

B. Loss to CDs from a covered auto.

C. Faulty work performed by a mechanic.

D. Theft of equipment from a covered auto by a garage employee. {{Correct Ans- A. Loss to a high-value stereo system permanently installed in a customer's auto.

Extra Expense insurance covers the cost of:

A. Relocation.

B. Temporary location.

C. Research costs to replace lost information.

D. All of the above. {{Correct Ans- D. All of the above.

The Special Cause of Loss form excludes all of the following, except:

A. Loss of market.

B. Loss due to artificially generated electric current.

C. Agricultural smudging.

D. None of these are exclusions. {{Correct Ans- D. None of these are exclusions.

Earth movement is covered under which of the following Cause of Loss forms?

A. None

B. Basic

C. Broad only

D. Basic and Broad {{Correct Ans- A. None

4. Volcanic action is covered under which of the following Cause of Loss forms?

A. None

B. Basic

C. Broad only

D. Both Basic and Broad {{Correct Ans- D. Both Basic and Broad

Sprinkler leakage is covered under which of the following Cause of Loss forms?

A. Basic

B. Broad

C. Special

D. All of the above {{Correct Ans- D. All of the above

All of the following provide an additional amount of insurance under the Commercial Building and Personal Property form, except:

A. Lottery Tickets

B. Newly acquired property

C. Property off-premises

D. Outdoor Property {{Correct Ans- A. Lottery Tickets

Which of the following forms cover flood and earthquake damage?

A. Building and Personal Property form

B. Special form

C. Broad form

D. None of the above {{Correct Ans- D. None of the above

The Earthquake and Volcanic Eruption endorsement provides coverage:

A. Against earthquake from volcanic eruption

B. For commercial buildings and other covered property when used in conjunction with another Cause of Loss forms

C. For damage caused by shocks that occur within 168-hours after policy expiration if these shocks began during the policy period

D. All of the above

{{Correct Ans- D. All of the above

The Commercial Building and Personal Property Coverage form excludes all of the following types of property, except:

A. Securities

B. Property of others in the insured's care, custody and control

C. Land

D. Patios or other paved surfaces {{Correct Ans- B. Property of others in the insured's care, custody and control

Under the Commercial Building and Personal Property form, coverage for the "building" includes:

A. Additions and extensions to the building

B. Property used to service the building

C. A heating system

D. All of the above

{{Correct Ans- D. All of the above

Under the Commercial Building and Personal Property form, coverage for "business personal property" includes:

A. Furniture

B. Machinery

C. Stock

D. All of the above

{{Correct Ans- D. All of the above

Sinkhole collapse is covered under which of the following Cause of Loss forms?

A. Basic

B. Broad

C. Special

D. All of the above

{{Correct Ans- D. All of the above

A building valued at $100,000 was insured for $80,000 with a policy containing 80% Coinsurance clause. Disregarding any deductibles, what would the company pay on a $20,000 loss?

A. $7,500

B. $5,000

C. $15,000

D. $20,000

{{Correct Ans- D. $20,000

All of the following are excluded under the Commercial Building and Personal Property form, except:

A. Furniture and fixtures.

B. Petty cash and IOUs.

C. A watch dog.

D. The insured's panel truck.

{{Correct Ans- A. Furniture and fixtures.

Which of the following is not covered property under a Commercial Property form?

A. Accounts, bills and currency.

B. Animals not held for sale.

C. Cost of foundations.

D. All of the above.

{{Correct Ans- D. All of the above.

The insured has transported a portion of his property to an exhibition trade show. It is destroyed by a fire. What coverage would apply?

A. Property off the premises is not covered

B. Fire is not covered for this exposure

C. A limit of $10,000 would apply to cover the loss

D. Special coverage would have to be purchased to cover property off the premises {{Correct Ans- C. A limit of $10,000 would apply to cover the loss