Florida Insurance Claims Adjuster License Practice Exam 2025 - Free Insurance Claims Adjuster License Practice Questions and Study Guide

Question: 1 / 400

What is a Waiver in the context of insurance?

The refusal to accept an insurance claim.

Cancellation of a policy by the insured.

The relinquishment of a legal right or claim.

A waiver in the context of insurance refers to the voluntary relinquishment of a legal right or claim by the insured. This means that the insured gives up their right to make a claim or receive compensation for a specific incident covered by their insurance policy. Option A is incorrect because it implies that the insurance company is refusing to accept a claim, rather than the insured giving up their own right to make a claim. Option B is incorrect because it refers to the insured cancelling their policy, which is not the same as a waiver. Option D is incorrect because it does not accurately describe a waiver in the context of insurance.

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A method to pay for insurance premiums.

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