FLORIDA 4-40 TEST QUESTIONS AND ANSWERS

FLORIDA 4-40 TEST QUESTIONS AND ANSWERS 1. Transferring the risk to an insurance company is known as what?: Insurance 2. When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what?: Endorsement 3. George and Sandy only home which was damaged by fire who has insurable interest: George and Sandy 4. What is the most common loss settlement valuation in the property poli- cies?: Actual cash value 5. The insurance company pays the insured for damages that should have been collected from the app fault party now the insured right to seek damages from the airport party are transferred to his insurance company what best describes this concept: Subrogation 6. PIP: Personal Injury Protection 7. Pip coverage is: Primary 8. Tort Immunity: Relief for persons who have suffered harm from the wrongful acts of others 9. Extend PIP: To fill percentage gaps 10. Additional PIP increases limits to...: Increase dollar limit only 10,000 to 25,000 or more