Florida Insurance Claims Adjuster License Practice Exam

Which of the following are parts of an insurance policy?

1. Exclusions, Declarations, and Endorsements

2. Claims, Benefits, and Premiums

3. Terms, Conditions, and Limitations

4. Coverage, Deductibles, and Limits

The correct answer is: Exclusions, Declarations, and Endorsements

An insurance policy typically consists of declarations, which outline the basic facts of the policy; exclusions, which list what is not covered; and endorsements, which are add-ons or modifications to the policy. Claims, benefits, and premiums are more related to the process of using the policy rather than being actual parts of the policy. Terms, conditions, and limitations are included in the policy but are not part of the main components like declarations, exclusions, and endorsements. Coverage, deductibles, and limits are all associated with the coverage provided by the policy, but they are not considered separate parts of the policy itself.