10/30/24, 8:31 AM 2024 Update|Florida 2-20 Agents License exam|2024-2025 LATEST|COMPLETE FREQUENTLY MOST TESTED QUESTIO…
2024 Update|Florida 2-20 Agents License
exam|2024-2025 LATEST|COMPLETE
FREQUENTLY MOST TESTED QUESTIONS WITH
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Terms in this set (327)
The Florida Surplus oversee the surplus lines industry in the state
Service Lines Office
(FSLSO) was created to
Which of the following is Seeking the license only to write controlled
NOT a required business
qualification for a
General Lines Agent:
The Department of Pays insurance claims
Financial Services
performs the following,
EXCEPT:
Once license, you have 48 months
how long to obtain an
appointment?
Which of the following is Submit rate filings and underwriting rules for
NOT a duty of the Office approval
of Insurance Regulation?
Which one of the Contractors must usually provide evidence of
following statements is liability insurance before a construction contract is
correct? granted.
,10/30/24, 8:31 AM 2024 Update|Florida 2-20 Agents License exam|2024-2025 LATEST|COMPLETE FREQUENTLY MOST TESTED QUESTIO…
From a risk management Transfer the cost of losses.
viewpoint, insurance is
used to
Liability coverage for loss Commercial general liability insurance.
exposures arising from a
business organization's
premises and operations,
its products, or its
completed work is
typically provided by
Which one of the Insurance helps reduce the financial burden to
following statements is society by compensating accident victims.
correct regarding the
benefits provided by
insurance?
Insurance is not the only Noninsurance transfer techniques.
risk management transfer
technique. When
circumstances are
appropriate, transfer can
be accomplished through
,10/30/24, 8:31 AM 2024 Update|Florida 2-20 Agents License exam|2024-2025 LATEST|COMPLETE FREQUENTLY MOST TESTED QUESTIO…
Oscar's custom-built Large number of similar exposure units
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?
Liability coverage to Personal liability insurance.
individuals and families
for bodily injury and
property damage arising
from the insured's
personal premises or
activities is typically
provided by
, 10/30/24, 8:31 AM 2024 Update|Florida 2-20 Agents License exam|2024-2025 LATEST|COMPLETE FREQUENTLY MOST TESTED QUESTIO…
Sally is a recent college Risk transfer.
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
One of the costs of Society
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
Retention is often used in The potential for financial ruin.
combination with
insurance as a way of
treating loss exposures.
One of the major
downsides of individuals
using retention alone is
The process of restoring Indemnification
an individual or
organization to a pre-loss
financial condition is the
process of
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