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Florida 4-40 Exam 2024 questions and answers
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Florida 4-40 Exam 2024 questions and answers
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Florida 4-40 Exam 2024 questions andanswers
Insured has personal property at two locations. At the time policy is written, the
property at location 1 is valued at $100,000. The property at location 2 is valued at
$300,000. Insured purchases $400,000 blanket insurance. Later, they have a
$137,000 loss from a covered peril at location 1. How much will the policy pay? -
$137,000
If licensee fails to be appointed they are subject to losing their license. What
period of time will trigger the termination of a license for failure to maintain an
appointment? - 48 months
Fraudulent activity is more likely under which: - Hard markets.
According to the Law of Large Numbers: - Larger data sets can be used to make
more accurate predictions.
Bob tells his clients that a competitor is "a liar and a thief, not to mention
incompetent." Over time, this results in a substantial reduction of the
competitor's business. The competitor can bring a complaint against Bob for
which: - Defamation.
Breaking and Entering with visible signs of forceful entry refers to: - Burglary
,Florida 4-40 Exam 2024 questions and
answers
An insurance deductible: - Is paid out of pocket by the insured, but does not
reduce the limit of insurance available.
Which best describes an insurance deductible? - A part of an insured loss which
the policyholder agrees to pay out of pocket.
Making fraudulent omissions or incomplete comparisons about a policy to induce
a person to buy insurance with another company is known as: - Twisting
Charles has the authority to issue Certificates of Liability Insurance and Evidences
of Property Insurance for Safety Mutual Insurance Company. Which of the
following is an acceptable practice, for which Charles does not need any other
approval from the insurer? - List coverage forms or endorsements that are part of
the policy, and send copies of those forms if requested.
If a licensee changes their name, residence address or business address, they
must notify the Department of Insurance within: - 30 Days
,Florida 4-40 Exam 2024 questions and
answers
Which of the following describes an insurable risk? - The chance that an employee
of a company might defraud that company's customers.
Statute of Limitations is defined as: - Time within which a legal right must be
exercised.
Knowingly making a false or fraudulent statement on an application is known as: -
Misrepresentation.
The continuing education statutes require a minimum of: - at least 4 hours on
subjects specific to the license such as ethics and statutory updates.
Bethod has the authority to issue Certificates of Liability Insurance for Safety
Mutual Insurance Company. Which of the following is not an acceptable practice?
- Provide a plain-language summary on the certificate describing what the policy
forms cover.
When an applicant's credit score is used for insurance underwriting: - The
applicant has a legal right to disclosure.
, Florida 4-40 Exam 2024 questions and
answers
Intentionally caused losses come under which property insurance concept - Moral
Hazard
The failure of the insured to reveal a known fact to the insurer, which would have
had an adverse effect on the policy being issued is: - Concealment
Which of the following best describes the purpose of the coinsurance provision on
a property insurance policy? - Te keep premiums reasonable for fully-insured
policyholders by requiring under-insured policyholders to pay a percentage of
their own losses out of pocket.
Debra is a 4-40 CSR who gets married. As a result, she changes her last name and
residence address. She must notify the Department of Financial Services of the
change on name and address within: - 30 days
A civil wrong, which for insurance purposes must be caused by negligence refers
to which of these: - Tort
"The time limit within which a legal right must be exercised" describes which of
the following? - Statute of limitations
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