Florida General Lines Agent Test Exam questions With Verified Answers

Florida General Lines Agent Test Exam questions With Verified Answers Homeowners HO-3 policy - severe theft loss. Coverage A limit is $100,000. Insured losses include $25,000 furniture, clothing and other ordinary personal property plus $5,000 damage to guns and $5,000 damage to jewelry, furs. Insured will recover: $29,000 less any deductible A coverage that is similar to premises and operations coverage in the Commercial General Liability Policy covering bodily injury and property damage liability for aviation risks is defined as: Airport and Air Meet Liability What is the standard All Perils deductible in the Commercial Property Policy? $500 Which of the following best describes a "Controlled" Inland Marine Form? Standard provisions form is written according to filed rules and rates Under a Personal Articles Floater, which of the following is covered as valued property? Fine Arts Under the Dwelling Program forms, vandalism is not covered after the building has been vacant for how many days? 60 days Under a Commercial General Liability Contract, how many days notice of cancellation must the insurer provide for non-payment of premium? 10 Under Additional Coverages, how much applies for loss assessments imposed by an association against the insured for damage to property caused by a peril insured against under Coverage A? $1,000 The following are basic characteristics of a Property or Liability Insurance Contract EXCEPT: Loss Settlement Contract Rob has PIP with a $1,000 deductible. He has an auto accident causing $6,000 in medical bills. How much will his PIP pay? $4,000- $6,000 - $1,000 deductible = $5,000 x 80% = $4,000 QRS Construction Company wants to provide the local school district with a price for building a new grammar school. In order to accept the price, the school board needs a bond that would pay the difference between QRS's price and the next highest price. What kind of bond does QRS need to provide to the school district? Bid bond-The Bid Bond is required to accompany a bid for a contract which will require that the successful bidder furnish further bond if awarded the job. The guarantee is that if the bid is accepted, the bidder will enter into the contract and will satisfy further bonding requirements for the job Which of the following events would be covered under an HO-3? I. A sewer line became clogged and the toilet in the house backed up and overflowed, damaging the carpet. II. Wind blew a front