Florida Insurance Claims Adjuster License Practice Exam

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Prepare for the Florida Insurance Claims Adjuster Test. Access multiple choice questions, flashcards, and detailed explanations to enhance your knowledge and confidence. Start mastering the material today!

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Bill sent a cashier's check through the mail, but it never arrived at the destination of the recipient. Under which bond can the cashier's check be replaced?

Fiduciary bond
Blue Sky bond
Lost Instrument bond
Payment bond

The correct answer is: Lost Instrument bond

A lost instrument bond is a type of surety bond that provides protection for a person or entity in case a valuable document, such as a cashier's check, is lost or destroyed. In this scenario, the lost instrument bond would cover the cost of replacing the missing cashier's check. The other options are incorrect because they do not pertain to the situation described in the question. A fiduciary bond is a type of surety bond that protects against dishonest or fraudulent acts by a fiduciary, such as a trustee or executor. A blue sky bond is a type of surety bond that ensures compliance with securities laws by companies offering stocks or bonds to the public. A payment bond is a type of surety bond that guarantees payment to subcontractors and suppliers on a construction project. None of these bonds would provide coverage for a lost cashier's check.