FLORIDA 2-20 AGENTS LICENSE EXAM QUESTIONS 2025 |GUARANTEED ACCURATE ANSWERS
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Course
Florida 2-20 agents license
Institution
Florida 2-20 Agents License
The Florida Surplus Service Lines Office (FSLSO) was created to - ACCURATE ANSWERS oversee the surplus lines industry in the state.
Which of the following is NOT a required qualification for a General Lines Agent: - ACCURATE ANSWERS Seeking the license only to write controlled business.
The D...
The Florida Surplus Service Lines Office (FSLSO) was created to -
ACCURATE ANSWERS✔✔ oversee the surplus lines industry in the
state.
Which of the following is NOT a required qualification for a General
Lines Agent: - ACCURATE ANSWERS✔✔ Seeking the license only to
write controlled business.
The Department of Financial Services performs the following, EXCEPT:
- ACCURATE ANSWERS✔✔ Pays insurance claims.
Once license, you have how long to obtain an appointment? -
ACCURATE ANSWERS✔✔ 48 months.
Which of the following is NOT a duty of the Office of Insurance
Regulation? - ACCURATE ANSWERS✔✔ Submit rate filings and
underwriting rules for approval.
,Which one of the following statements is correct? - ACCURATE
ANSWERS✔✔ Contractors must usually provide evidence of liability
insurance before a construction contract is granted.
From a risk management viewpoint, insurance is used to - ACCURATE
ANSWERS✔✔ Transfer the cost of losses.
Liability coverage for loss exposures arising from a business
organization's premises and operations, its products, or its completed
work is typically provided by - ACCURATE ANSWERS✔✔
Commercial general liability insurance.
Which one of the following statements is correct regarding the benefits
provided by insurance? - ACCURATE ANSWERS✔✔ Insurance helps
reduce the financial burden to society by compensating accident victims.
Insurance is not the only risk management transfer technique. When
circumstances are appropriate, transfer can be accomplished through -
ACCURATE ANSWERS✔✔ Noninsurance transfer techniques.
Oscar's custom-built 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? - ACCURATE
ANSWERS✔✔ Large number of similar exposure units
,Liability coverage to individuals and families for bodily injury and
property damage arising from the insured's personal premises or
activities is typically provided by - ACCURATE ANSWERS✔✔
Personal liability insurance.
Sally is a recent college 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 - ACCURATE ANSWERS✔✔ Risk transfer.
One of the costs of 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 - ACCURATE ANSWERS✔✔ Society
Retention is often used in combination with insurance as a way of
treating loss exposures. One of the major downsides of individuals using
retention alone is - ACCURATE ANSWERS✔✔ The potential for
financial ruin.
The process of restoring an individual or organization to a pre-loss
financial condition is the process of - ACCURATE ANSWERS✔✔
Indemnification
, Sometimes the existence of insurance encourages losses. The result of
this phenomenon is that it - ACCURATE ANSWERS✔✔ Increases the
total cost of insurance
A small business owner concerned about something happening and not
being able to work or earn a living for an extended period of time due to
an accident should purchase - ACCURATE ANSWERS✔✔ Disability
insurance.
Which of the following is/are not a "your covered auto" under a Personal
Auto Policy for Liability? - ACCURATE ANSWERS✔✔ The 1990
Chevy 22 days after you purchase it as an additional vehicle for your son
who just got his license.
Joe has a Personal Auto Policy with one car with liability of 10/20/10,
basic PIP, 10/20 UM and no Med Pay. His Florida neighbor has an
identical policy on her care. Joe is driving her car, loses control; and hits
a tree. Joe is hurt with $15,000 in medical bills. What is the maximum
Joe can collect from UM from all sources from this accident? -
ACCURATE ANSWERS✔✔ $0
Keith commutes into the city in his car, and he provides a ride to two co-
workers who live near him. Every other week, the co-workers take turns
buying the gasoline for Keith's car. Does this activity create a public or
livery conveyance situation that would preclude liability coverage under
Keith's Personal Auto Policy (PAP)? - ACCURATE ANSWERS✔✔ No,
because Keith is involved in a share-the-expense car pool.
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