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Final exam 2-20 (short) Questions answers 2024
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Final exam 2-20 (short)
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Final exam 2-20 (short)The General Lines state exam consists of _______ questions with a ______ hour time
limit. - answer160; 3
For a General Lines License, the applicant the he or she is how man years of age? -
answer18
When more than 50% of an agent's income comes from business from an agent or their
family, this is know as what type of business? - answer Controlled business
If an agent's license has gone more than 48 months without an appointment he or she
must apply once again as what? - answerFirst time applicant
A designated customer service representative in Florida can only be appointed by who
or what? - answerA General lines agent
Once your adjuster license has gone beyond __________ months without an
appointment, you will have to qualify as a first time applicant. - answer48
What elected official is a member of the Florida cabinet, and serves as the head of the
Department of Financial Services? - answerChief financial officer
Who directly oversees the Division of Insurance Agent and Agency Services? -
answerChief financial officer
Insurance company regulation is administered by which office? - answerCommission of
Office of Insurance Regulation
Which office provides oversight to Florida's financial service providers? - answerOffice
of financial regulation
What is the best definition of risk? - answerThe chance of financial loss
What is temporary insurance which can be made through oral or written agreement? -
answerBinder
What type of insurance best describes when payments are made on behalf of the
insured to another party? - answerLiability insurance
John is shopping for auto insurance and is offered an insurance policy which he does
not agree with. The insurance representative tells him that the terms of the insurance
, contract are non-negotiable. This type of insurance contract is known as a(n) -
answerContract of adhesion
Wind, theft, lightning, fire, and flood are all examples of what? - answerPeril
Intentionally destroying your car to collect money from the insurance is classified as
what type of hazard? - answerMoral
John was involved in an automobile accident that was not his fault. John then
transferred his rights to his insurance company to collect damages for the claim they
just paid. This is a perfect example of what insurance concept? - answerSubrogation
If an insurance company broadens coverage in similar policies then those who are
already insured under similar policies would receive said benefits of the broadened
coverage without additional premium. This insurance concept is best known as -
answerLiberalization
A policy condition that is based on information you provided to the insurer during the
application for insurance, or a policy condition that was inserted by the insurer is known
as a(n) - answerWarranty
If Ashley states that she has an anti-theft alarm on her vehicle when she in fact does not
have an alarm. Misleading the insurer in such a way is known as -
answerMisrepresentation
To comply with Florida's Financial Responsibility Law what are the coverages required?
- answerBodily Injury Liability & Property Damage Liability
Pick the correct transportation mode that is considered a "defined motor vehicle"
according to the Florida No Fault Law. - answer18 Wheel Tractor Trailer
The following are all penalties for non-compliance with Florida's No Fault Law with the
exception of which one? - answerImpounding of Auto
If John has an accident and his PIP deductible is $1,000, how much will PIP pay if his
medical bills total to $6,000. - answer$4,000
John and David are best friends who are not related, live together and jointly own one
vehicle. This means they are ineligible for a Personal Auto Policy? True or false? -
answerFalse
Which of the options below, under the Personal Auto Policy, is not considered a
supplementary payment? - answer$300 on bail bonds
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