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FLORIDA PROPERTY & CASUALTY INSURANCE, FLORIDA 2-20 AGENTS LICENSE 500+EXAM QUESTIONS TEST BANK TESTED AND VERIFIED| ACCURATE FOR GUARANTEED PASS| GRADED A+ CA$27.24   Add to cart
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FLORIDA PROPERTY & CASUALTY INSURANCE, FLORIDA 2-20 AGENTS LICENSE 500+EXAM QUESTIONS TEST BANK TESTED AND VERIFIED| ACCURATE FOR GUARANTEED PASS| GRADED A+
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FLORIDA PROPERTY & CASUALTY INSURANCE, FLORIDA 2-20 AGENTS LICENSE 500+EXAM QUESTIONS TEST BANK TESTED AND VERIFIED| ACCURATE FOR GUARANTEED PASS| GRADED A+

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  • January 24, 2024
  • 43
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • florida property
  • florida property casualty insurance florida 2
  • florida casualty insurance florida 2
  • florida property casualty insurance

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  • FLORIDA PROPERTY
  • FLORIDA PROPERTY

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FLORIDA PROPERTY & CASUALTY INSURANCE, FLORIDA 2 -20 AGENTS LICENSE 500+EXAM QUESTIONS TEST BANK TESTED AND VERIFIED| ACCURATE FOR GUARA NTEED PASS| GRADED A+ Which of the following provides for loss of money and securities outside t he premises in the care, custody and control of a messenger or armored car service resulting from theft, disappearance, or destruction? - CORRECT ANSWER ✔✔ Outside the Premises What is the standard All Perils deductible in the Commercial Property Policy? - CORRECT ANSWER ✔✔
$500 Which of the following best describes a "Controlled" Inland Marine Form? - CORRECT ANSWER ✔✔
Standard provisions form is written according to filed rules and rates Under a Personal Articles Floater, which of the following is covered as valued property? - CORRECT ANSWER✔✔ Fine Arts Under the Dwelling Program forms, vandalism is not covered after the building has been vacant for how many days? - CORRECT ANSWER ✔✔ 60 days Under a Commercial General Liability Contract, how many days notice o f cancellation must the insurer provide for non -payment of premium? - CORRECT ANSWER ✔✔ 10 Under Additional Coverages, how much applies for loss assessments imposed by an association against the insured for damage to property caused by a peril insured again st under Coverage A? - CORRECT ANSWER✔✔ $1,000 The following are basic characteristics of a Property or Liability Insurance Contract EXCEPT: - CORRECT ANSWER✔✔ Loss Settlement Contract Rob has PIP with a $1,000 deductible. He has an auto accident causing $ 6,000 in medical bills. How much will his PIP pay? - CORRECT ANSWER ✔✔ $4,000 - $6,000 - $1,000 deductible = $5,000 x 80% = $4,000 QRS Construction Company wants to provide the local school district with a price for building a new grammar school. In order t o accept the price, the school board needs a bond that would pay the difference between QRS's price and the next highest price. What kind of bond does QRS need to provide to the school district? - CORRECT ANSWER ✔✔ Bid bond - The Bid Bond is required to acco mpany a bid for a contract which will require that the successful bidder furnish further bond if awarded the job. The guarantee is that if the bid is accepted, the bidder will enter into the contract and will satisfy further bonding requirements for the jo b Which of the following guarantees the payment of materials in full upon completion of the work? - CORRECT ANSWER ✔✔ Payment Bond Which of the following events would be covered under an HO -3? I. A sewer line became clogged and the toilet in the house backed up and overflowed, damaging the carpet. II. Wind blew a front door open and rain damaged the carpet. III. The neighbor's German Shepard damaged the garage doorframe while trying to get in the insured's garage to eat the dog food stored there. - CORRECT ANSWER ✔✔ II and III only The FAJUA is composed of: - CORRECT ANSWER ✔✔ All companies licensed to write auto insurance in Florida A coverage that i s similar to premises and operations coverage in the Commercial General Liability Policy covering bodily injury and property damage liability for aviation risks is defined as: - CORRECT ANSWER
✔✔ Airport and Air Meet Liability Homeowners HO -3 policy - severe theft loss. Coverage A limit is $100,000. Insured losses include $25,000 furniture, clothing and other ordinary personal property plus $5,000 damage to guns and $5,000 damage to jewelry, furs. Insured will recover: - CORRECT ANSWER✔✔ $29,000 less any deductible Each of the following divisions falls under The Department of Financial Services EXCEPT? - CORRECT ANSWER✔✔ The Division of Consumer Activities All of the following are located on a Boiler and Machinery Coverage form EXCEPT: - CORRECT ANSWER
✔✔ Exhibit s The Motor Truck Cargo Policy: - CORRECT ANSWER ✔✔ Insures a truck carrier for liability arising out of the transportation of cargo. All of the following are types of property that can be covered under a Personal Articles Floater EXCEPT: - CORRECT ANSWER ✔✔Firearms What is the standard deductible for Employee Theft coverage? - CORRECT ANSWER ✔✔ $500 The Forgery or Alteration coverage under a Businessowners Policy is: - CORRECT ANSWER ✔✔ $2,000 How many hours of continuing education is a newly licensed agent required to have for their first Continuing Education compliance period? - CORRECT ANSWER ✔✔ 24 Which of the following is NOT true regarding sole proprietors and partners in the non -construction industry as they relate to Workers Compensation? - CORRECT ANS WER✔✔ A maximum of three can elect to be covered Which of the following is not a way to purchase Uninsured Motorist Coverage? - CORRECT ANSWER ✔
✔More than your bodily injury limits Camden's Wood Shop will be dropping off new cabinets at a jobsite on Monday , but will not actually install them until Tuesday. What kind of policy will they need to cover any loss to the cabinets? - CORRECT ANSWER✔✔ Installation Floater This Hospital Form applies with "medical incident" defined as an act or omission in furnishing of professional services related to making of a blood donation under the supervision of the insured: - CORRECT ANSWER ✔✔ Blood Banks Which of the following is not a valid deductible for hurricane in the Dwelling program? - CORRECT ANSWER✔✔ 1% If a loss occ urs under the Building and Personal Property Coverage Form with the optional replacement cost provision, how long does the insured have to give intent to replace the damaged item in order to receive replacement cost adjustment? - CORRECT ANSWER ✔✔ 180 Which of the following is NOT a common deductible in an Aircraft Hull Policy? - CORRECT ANSWER ✔✔
2% How many insuring agreements are there in a Commercial Crime Policy? - CORRECT ANSWER ✔✔ 7 Barry was driving his car in Florida where he has lived all his life when he is hit by an at -fault driver. Barry has $10,000 in medical bills, basic PIP with a $1,000 deductible and no medical payments coverage. How much will the at -fault driver have to pa y for Barry's injuries? - CORRECT ANSWER ✔✔ $2,800 - $10,000 - $1,000 = $9,000 x 80% = $7,200, the amount paid out by PIP. Barry can hold the at -fault driver responsible for the difference of PIPs maximum limit of $10,000 and the $7,200, which is $2,800 During a break -in at a business, the safe is removed from the location. This is defined as: - CORRECT ANSWER✔✔ Safe Burglary The Boiler and Machinery Policy provides automatic coverage for boilers at newly acquired locations for: - CORRECT ANSWER ✔✔ 90 days Which of the following statements is false regarding Co -Payment: - CORRECT ANSWER ✔✔ Subject to a minimum amount Which statement below best describes the insured's position under the Florida No -Fault Law when the total medical and work loss bill exceeds the P IP benefits without exceeding a threshold? - CORRECT ANSWER
✔✔ Insured can sue for the economic loss not paid or payable under PIP; no suit for intangible damages such as pain and suffering Established in 1973, this association was created for applicants wh o are unable to obtain automobile insurance in the private market: - CORRECT ANSWER ✔✔ FAJUA The typical coverage for rental reimbursement on a Mechanical Breakdown policy is: - CORRECT ANSWER✔✔ $15 per day/$75 maximum Which of the following is not a type o f insurance that can be transacted with a "General Lines" insurance license? - CORRECT ANSWER ✔✔ Life insurance written by carrier who is also represented for Property and Casualty Another name for a "Cost Plus" plan is: - CORRECT ANSWER ✔✔ Retrospective Rati ng Plan What amount applies to Business Personal Property other than "Money and Securities," "Valuable Papers and Records" and "Accounts Receivable" while off premises? - CORRECT ANSWER ✔✔ $5,000 This program provides comprehensive health services to membe rs for a prepaid fixed fee with a goal of preventive activity: - CORRECT ANSWER ✔✔ HMO The Retroactive Date: - CORRECT ANSWER ✔✔ Establishes the date when claims made coverage begins This endorsement will extend liability insurance and any physical damage in surance to cover the insured while driving a non -owned vehicle: - CORRECT ANSWER ✔✔ Individual Named Insured Trey has a collection of rare foreign coins, which are stolen. His Crime Policy provides coverage for these coins as part of his business property. The collectible value of the coins is $5,000; the monetary value of the coins is $300. Assuming there is no deductible, how much will Trey's policy pay? - CORRECT ANSWER✔✔ $300 - Money is valued at its face value Which of the following is not an eligibility requirement for the RCBAP Flood Policy? - CORRECT ANSWER
✔✔ 25% mercantile floor area All of the following are covered under Personal and Advertising Injury EXCEPT: - CORRECT ANSWER ✔
✔Bodily Injury This bond is r equired of investment companies guaranteeing against misrepresentation of Securities: - CORRECT ANSWER ✔✔ Blue Sky Bond All of the following coverages can be added to the Business Auto Coverage Form by separate endorse¬ment EXCEPT: - CORRECT ANSWER ✔✔ Liabili ty Which of the following is NOT a benefit under PIP? - CORRECT ANSWER ✔✔ Replacement services paid at 10% Luigi purchases a money order to make his car payment. The money order never makes it to the finance company and he has to replace it. What type of b ond will the company need in order to replace the money order? - CORRECT ANSWER ✔✔ Lost Instrument Bond

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