Florida Claims Adjuster Exam, Study

100/100/500 {Ans: The minimum limits of liability}Adjusting {Ans: The process of disposing of an insurance claim}FWCJUA {Ans: 1993; for employers who cannot obtain workers comp insurance}Concealment {Ans: The failure of the insured to reveal relevant facts known to the insured in applying for insurance.}Nuclear Energy Liability Exclusion {Ans: Excludes all hazards related to nuclear energy.}Insurance {Ans: Is a contract whereby one undertakes to indemnify another or pay or allow a specified amount or a determinable benefit upon determinable contingencies.}Major Medical {Ans: The coverage that is intended to afford protection against catastrophic losses}24 {Ans: How many continuing education hours must an insurance adjuster complete every 2 years.}Actual Cash Value(ACV) {Ans: Replacement Cost minus Depreciation}Preferred Provider Organization (PPO) {Ans: A selected group of hospital's and medical practitioners in a given area who have joined together in an effort to reduce medical costs.}Building Ordinance Coverage {Ans: This endorsement covers the insured for enforcement of laws which require demolition of undamaged portions of buildings.}Condominium Unit Owners Form {Ans: Used only for Commercial Condominiums, it covers the unit-owners business personal property and the personal property of others in the insured's care, custody or