Florida Insurance Licensing Practice Exam

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

1. Properly account for all money handled

2. Withhold pertinent information from the company to please a client

3. Reveal all relevant underwriting facts to the insurance company underwriter

4. 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.