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FLORIDA 2-20 AGENTS LICENSE FINAL EXAM AND STUDY GUIDE NEWEST ACTUAL EXAM COMPLETE 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ $29.49
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FLORIDA 2-20 AGENTS LICENSE FINAL EXAM AND STUDY GUIDE NEWEST ACTUAL EXAM COMPLETE 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+
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Course
FLORIDA 2-20 AGENTS LICENSE
Institution
FLORIDA 2-20 AGENTS LICENSE
FLORIDA 2-20 AGENTS LICENSE FINAL
EXAM AND STUDY GUIDE NEWEST 2024
2025 ACTUAL EXAM COMPLETE 300
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
FLORIDA 2-20 AGENTS LICENSE FINAL
EXAM AND STUDY GUIDE NEWEST 2024-
2025 ACTUAL EXAM COMPLETE 300
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
FLORIDA 2-20 AGENTS LICENSE FINAL
Under which one of the following provisions of the Building and
Personal Property Coverage Form (BPP) is the maximum
payment $10,000 or five percent of the building limit, whichever
is less? - ANSWER- Increased Cost of Construction additional
coverage
Alterations or additions made to the building at the expense of
an insured who does not own the building and who cannot
legally remove them are referred to as - ANSWER-
Improvements and betterments.
Which one of the following statements is correct with respect to
the Non-Owned Detached Trailers coverage extension of the
,2|Page
Building and Personal Property Coverage Form (BPP)? -
ANSWER- It permits the insured to extend 'your business
personal property' to include trailers leased to expand office
space or to provide additional storage or work areas.
Which one of the following statements is correct with respect to
the Commercial Property Conditions? - ANSWER- They apply
to all coverage forms included in a commercial property
coverage part, unless a coverage form contains a condition to the
contrary.
The owners of Uncle Reggie's Steakhouse are insured under a
Building and Personal Property Coverage Form (BPP) that
covers their building and business personal property for
$350,000 and $100,000, respectively. The policy has a $2,500
deductible. A fire results in $350,000 worth of damage to the
building and a $70,000 loss of business personal property. In
what amounts should the policy provide coverage for this loss? -
ANSWER- $347,500 Building and $70,000 Property
A Commercial Package Policy (CPP) premium may be modified
by a package modification factor. This factor - ANSWER- Is a
discount justified by the greater efficiency in providing a
package policy.
,3|Page
Worldwide Warehousing has a Building and Personal Property
Coverage Form (BPP) with a $1,000,000 limit on a building and
a $5,000 deductible. The warehouse suffers a $1,010,000 fire
loss. Which one of the following amounts will Worldwide's
insurer pay? - ANSWER- $1,000,000
The Causes of Loss—Basic Form differs from the Causes of
Loss—Broad Form in which one of the following ways? -
ANSWER- The Broad Form provides coverage for loss caused
by collapse of a building or personal property resulting from
specified perils.
A description of the property insured, a list of mortgagees, and
the applicable coinsurance percentage(s) are shown on which
one of the following documents? - ANSWER- Commercial
property declarations
Which one of the following statements is correct with respect to
the Building and Personal Property (BPP) Coverage Form? -
ANSWER- The BPP lists several types of classes of property
that do not qualify as covered property.
Which one of the following statements is correct with regard to
the Causes of Loss—Broad Form? - ANSWER- The weight of
snow, ice, or sleet cause of loss does not cover damage to
personal property in the open.
, 4|Page
Which one of the following statements is correct with respect to
Property Not Covered under the Building and Personal Property
Coverage Form (BPP) - ANSWER- Only contraband or property
in the course of illegal transportation or trade is totally
uninsurable by endorsement or in other policies.
Which one of the following is an exclusion unique to the Causes
of Loss—Special Form? - ANSWER- Smog
Smith Construction Company is covered under an unendorsed
Commercial General Liability (CGL) Coverage Form. While
working at a job site, Smith ruptured a natural gas line causing a
small fire to a neighboring retail store. The following claims
have been made against Smith due to this occurrence: Fire
damage to the neighboring store, Pain and suffering claimed by
the store owner, Loss of income by the store owner until repairs
are made to the store, and Fire damage to the backhoe owned by
Smith. Which one of the following statements is correct? -
ANSWER- The backhoe is property owned and is excluded.
Which one of the following is true of the supplementary
payments in the Commercial General Liability (CGL) Coverage
Form? - ANSWER- The obligation to pay these supplementary
payments ends when the limit of insurance is exhausted.
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