Florida 4-40 test UPDATED Actual Exam Questions and CORRECT Answers
7 views 0 purchase
Course
Florida 4-40
Institution
Florida 4-40
Florida 4-40 test UPDATED Actual Exam
Questions and CORRECT Answers
Transferring the risk to an insurance company is known as what? - CORRECT
ANSWER- Insurance
When the insured request to have the company change a condition or provision in an
insurance policy the document attach to the poli...
Florida 4-40 test UPDATED Actual Exam
Questions and CORRECT Answers
Transferring the risk to an insurance company is known as what? - CORRECT
ANSWER✔✔- Insurance
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? - CORRECT
ANSWER✔✔- Endorsement
George and Sandy only home which was damaged by fire who has insurable interest -
CORRECT ANSWER✔✔- George and Sandy
What is the most common loss settlement valuation in the property policies? - CORRECT
ANSWER✔✔- Actual cash value
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 - CORRECT
ANSWER✔✔- Subrogation
PIP - CORRECT ANSWER✔✔- Personal Injury Protection
Pip coverage is - CORRECT ANSWER✔✔- Primary
Tort Immunity - CORRECT ANSWER✔✔- Relief for persons who have suffered harm from
the wrongful acts of others
Extend PIP - CORRECT ANSWER✔✔- To fill percentage gaps
Additional PIP increases limits to... - CORRECT ANSWER✔✔- Increase dollar limit only
10,000 to 25,000 or more
,Under Florida law what are the benefits payable for medical expenses - CORRECT
ANSWER✔✔- 80%
Under Florida law what are the benefits payable for lost wages - CORRECT ANSWER✔✔-
Up to 60%
Death benefits - CORRECT ANSWER✔✔- 5,000
Deductibles are how much - CORRECT ANSWER✔✔- $250,$500,$1000
Cease to defend - CORRECT ANSWER✔✔- Limits exhausted by payment
Before an owner of a vehicle can't obtain a license plate and tag registration the owner must
purchase PIP coverage in property damage liability coverage in the amount of - CORRECT
ANSWER✔✔- $10,000
When will the individuals be requested to prove they are financially capable three different
times - CORRECT ANSWER✔✔- At the time of an accident ( 2 )a major traffic violation
and (3) an insurance vehicle is used in a felony
The minimum liability limits bar - CORRECT ANSWER✔✔- 10/20/10
Which of the following does not trigger financial responsibility - CORRECT ANSWER✔✔-
An accident with a small amount of property damage
FR-44 is for - CORRECT ANSWER✔✔- People who are convicted of dui or dwi
If convicted of a dui or dwi insured must - CORRECT ANSWER✔✔- Piggy 100% of the
premium in advance also carry 100/300/50 liability insurance coverage for 3 years
How long with the insured receive medical care when qualifying under medical payments -
CORRECT ANSWER✔✔- Medical Expenses and funeral services three years from date of
accident regardless of fault
, Jon is walking across the street to go to the county fair and he is trucks as a pedestrian buy a
motorcycle which of the following provides coverage? - CORRECT ANSWER✔✔- Medical
payments
There is no deductible on - CORRECT ANSWER✔✔- Windshield damage
Rental coverage cost - CORRECT ANSWER✔✔- $20 a day / $600 maximum
If the insured wants to purchase coverage for a non-owned auto when he uses the vehicle for
business or the car is furnished or his regular use or when he carries people or property for a
fee what would he purchase - CORRECT ANSWER✔✔- The extended non-owned
endorsement
If the insured wants to purchase coverage for a motorhome motorcycle all terrain vehicle golf
cart or June buggy how can he acquire the coverage under Pap? - CORRECT ANSWER✔✔-
The miscellaneous type vehicle endorsement
What is that Applicable time frame for insurer to send Notification of cancellation or non-
renewal - CORRECT ANSWER✔✔- 45 days
What is not eligible for Fajua? - CORRECT ANSWER✔✔- A nonresident owning property
in Florida
Which of the following is the policy term for a used car on a mechanical breakdown policy -
CORRECT ANSWER✔✔- 12,000 or 12 months
Car rental reimbursement - CORRECT ANSWER✔✔- $15 per day / $75 maximum
When does the personal auto policy cease to defend the insured - CORRECT ANSWER✔✔-
When the limits are exhausted by payments
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.49. You're not tied to anything after your purchase.
