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FLORIDA 2-20 AGENTS LICENSE 2024 EXAM REAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS|A+ GRADE $22.99
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FLORIDA 2-20 AGENTS LICENSE 2024 EXAM REAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS|A+ GRADE

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FLORIDA 2-20 AGENTS LICENSE 2024 EXAM REAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS|A+ GRADE

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  • June 13, 2024
  • 41
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • florida 2 20 agents
  • florida 2 20 agents license 2024 exam real exam
  • florida 2 20 agents license

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  • Florida 2-20 agents license
  • Florida 2-20 agents license

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FLORIDA 2-20 AGENTS LICENSE 2024 EXAM REAL
EXAM COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS|A+ GRADE

The Florida Surplus Service Lines Office (FSLSO) was
created to
oversee the surplus lines industry in the state
Which of the following is NOT a required qualification for a
General Lines Agent:
Seeking the license only to write controlled business
The Department of Financial Services performs the following,
EXCEPT:
Pays insurance claims
Once license, you have how long to obtain an appointment?
48 months
Which of the following is NOT a duty of the Office of
Insurance Regulation?
Submit rate filings and underwriting rules for approval
Which one of the following statements is correct?
Contractors must usually provide evidence of liability insurance
before a construction contract is granted.
From a risk management viewpoint, insurance is used to
Transfer the cost of losses.
Liability coverage for loss exposures arising from a business
organization's premises and operations, its products, or its
completed work is typically provided by
Commercial general liability insurance.
Which one of the following statements is correct regarding
the benefits provided by insurance?
Insurance helps reduce the financial burden to society by
compensating accident victims.
Insurance is not the only risk management transfer
technique. When circumstances are appropriate, transfer can
be accomplished through

,Noninsurance transfer techniques.
Oscar's custom-built vehicle looks like a sausage sandwich
on wheels. He plans to drive it to special events at schools
around the country where it will serve as a mobile billboard
to promote his product. Oscar is surprised to learn that
insurers are reluctant to insure his vehicle because it fails to
meet one of the ideal characteristics of an insurable risk.
Which characteristic is Oscar's vehicle least likely to meet?
Large number of similar exposure units
Liability coverage to individuals and families for bodily injury
and property damage arising from the insured's personal
premises or activities is typically provided by
Personal liability insurance.
Sally is a recent college graduate who lives in the suburbs
and drives to work daily in the city. She recognizes that
owning a car creates both property damage and liability
exposures for her and at the same time she has the burden
of student loans. For someone in Sally's circumstances the
most practical risk management technique for dealing with
her auto-related loss exposures is
Risk transfer.
One of the costs of insurance is said to be opportunity costs.
This means that if capital and labor were not being used in
the insurance business, they could be used elsewhere and
making other productive contributions to
Society
Retention is often used in combination with insurance as a
way of treating loss exposures. One of the major downsides
of individuals using retention alone is
The potential for financial ruin.
The process of restoring an individual or organization to a
pre-loss financial condition is the process of
Indemnification
Sometimes the existence of insurance encourages losses.
The result of this phenomenon is that it

,Increases the total cost of insurance
A small business owner concerned about something
happening and not being able to work or earn a living for an
extended period of time due to an accident should purchase
Disability insurance.
Which of the following is/are not a "your covered auto" under
a Personal Auto Policy for Liability?
The 1990 Chevy 22 days after you purchase it as an additional
vehicle for your son who just got his license.
Joe has a Personal Auto Policy with one car with liability of
10/20/10, basic PIP, 10/20 UM and no Med Pay. His Florida
neighbor has an identical policy on her care. Joe is driving
her car, loses control; and hits a tree. Joe is hurt with
$15,000 in medical bills. What is the maximum Joe can
collect from UM from all sources from this accident?
$0
Keith commutes into the city in his car, and he provides a
ride to two co-workers who live near him. Every other week,
the co-workers take turns buying the gasoline for Keith's car.
Does this activity create a public or livery conveyance
situation that would preclude liability coverage under Keith's
Personal Auto Policy (PAP)?
No, because Keith is involved in a share-the-expense car pool.
An insured covers his owned auto with more than one
Personal Auto Policy (PAP), each from a different insurer. In
the event of a claim for medical payments coverage,
Each insurer pays its pro rata share based on the proportion that
its limit of liability bears to the total of applicable limits.
The Insuring Agreement in Part A - Liability Coverage of the
Personal Auto Policy contains descriptions of all of the
following EXCEPT:
Limit of Liability
Tom and Martha insure their house with an unendorsed HO-
3—Special Form (HO-3) with a Coverage A—Dwelling limit of
$300,000, which is the replacement cost of the house. A thief

, breaks into the house while Tom and Martha are on vacation
and steals the following items: •$500 cash•$50,000 stock
certificates. Ignoring any deductible that may apply, how
much, if any, will Tom and Martha's insurer pay for the loss
of the items?
$1,700
Under the HO-3—Special Form (HO-3) Section I—Conditions,
the Loss Settlement condition
Establishes the process for determining the amount to be paid for
a property loss.
Property described in Coverages A, B, and C of an HO-3—
Special Form (HO-3) that is destroyed, confiscated, or seized
by order of any governmental or public authority is
Excluded.
Adam and his insurer disagree on the amount of a loss
covered by his homeowners policy. Adam wants the insurer
to pay $10,000 toward the loss. The insurer's representative
feels that the loss should be valued at $5,000. How could the
appraisal process resolve this situation?
Adam and the insurer will each select an appraiser, and the two
appraisers will submit their differences to an impartial umpire who
will reach a resolution.
Which one of the following has special limits of liability
within Coverage C of the HO-3—Special Form (HO-3)?
Theft of firearms
A storm causes power lines to break ten miles from the
insured's premises. The loss of electrical power causes food
in the insured's freezer to thaw and spoil. Coverage for this
loss is
Excluded because the power failure occurred off the residence
premises.
If law enforcement officials seize an insured's personal
computer to search for files that might be related to a crime,
the insured under an HO-3—Special Form (HO-3) may be

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