Florida Insurance Licensing Practice Exam

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Prepare for the Florida Insurance Licensing Exam using comprehensive questions and in-depth explanations. Perfect your understanding of essential insurance concepts and ensure your success!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Which of the following is NOT one of the fiduciary responsibilities of an adjuster?

Properly account for all money handled
Withhold pertinent information from the company to please a client
Reveal all relevant underwriting facts to the insurance company underwriter
Maintain loyalty to the principal

The correct answer is: Withhold pertinent information from the company to please a client

One of the fiduciary responsibilities of an adjuster is to withhold pertinent information from the company to please a client (option B). This goes against the ethical code of conduct for adjusters, as they are expected to act in the best interest of their clients and insurance companies. Options A, C, and D are all important fiduciary responsibilities that an adjuster must fulfill. Option A stresses the importance of proper accounting to maintain transparency and accountability. Option C highlights the need to share all relevant information with the insurance underwriter to ensure fair and accurate underwriting. Option D emphasizes the need for adjusters to maintain loyalty to their clients and insurance companies, rather than withholding information to please one party. Thus, option B is the incorrect choice in this scenario.