Florida Insurance Claims Adjuster License Practice Exam

What must happen for financial responsibility to be established if it did not exist at the time of the accident?

1. The claims of others must be satisfied and future accidents must be certified for financial responsibility

2. A new insurance policy must be purchased

3. The court must intervene and decide

4. A financial responsibility waiver must be signed

The correct answer is: The claims of others must be satisfied and future accidents must be certified for financial responsibility

When financial responsibility does not exist at the time of an accident, there must be a way to ensure that the person or party responsible is able to cover any consequences in the future. Option A is the correct choice because it states that the claims of others must be satisfied and future accidents must be certified. This ensures that all future potential accidents will be covered and any past claims are resolved. Option B is incorrect because simply purchasing a new insurance policy does not address any past claims or guarantee coverage for future accidents. Option C is incorrect because having the court intervene and decide may not necessarily lead to establishing financial responsibility. Option D is incorrect because signing a financial responsibility waiver does not address any past claims or guarantee coverage for future accidents.