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Florida Insurance 20-44 study Exam rated A 100% correct answers
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Florida Insurance 20-44 study Exam rated A 100% correct answers
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Florida Insurance 20-44 study Exam rated A100% correct answers
insurance - ________________ is a contract whereby one undertakes to
indemnify another or pay or allow a specified amount or a determinable benefit
upon determinable contingencies.
casualty - ______________ insurance is insurance which pays on behalf of the
insured's legal liability.
liberalization - The ______________ provision broadens an insured's coverage
without an increase in premium when the insurer has adopted a generic global
policy revision.
severability - "________________ of Interest" means insurance applies separately
to each insured.
policy - A _________ is a written contract of or a written agreement for or
affecting insurance.
$40,000 - A homeowner with a Homeowners policy with $500,000 of coverage
and a 2% windstorm deductible suffers a windstorm loss of $50,000 - how much
will the insured collect on their claim?
,Florida Insurance 20-44 study Exam rated A
100% correct answers
pro-rata - The "Other Policy" provision which apportions responsibility with each
company paying in proportion to the limit it bears in relation to all limits.
physical hazard - A physical characteristic which increase the probability and
severity of loss is a....
$200,000 - A private passenger automobile policy has a single bodily injury liability
limit of $500,000 - the insured is involved in an at-fault accident and four
individuals in the other car have injuries of $50,000 each - how much will the
policy pay in total?
indirect - An example of an ______________ loss is the loss of use of tangible
property.
$1,550 - An insured has a $250 Collision deductible on her auto policy - the
insured hit a large oak tree in a single vehicle accident resulting in $1,800 in
damages - how much will the insurance company pay the insured?
,Florida Insurance 20-44 study Exam rated A
100% correct answers
franchise - Which type of deductible specifies that no payment will be made until
loss equals or exceeds a prescribed amount; then the loss is paid in full.
concealment - Bill Williams, your insured, has failed to reveal some relevant facts
when he is applying for insurance. What is this is considered?
60 - No notice of cancellation or non-renewal of a binder is required unless a
binder exceeds how many days?
insured - Insurance contracts are considered Contracts of Adhesion. Ambiguities in
the contract are resolved in favor of the ___________________________.
proximate cause - What is the fundamental doctrine in property insurance that
holds that when there is an unbroken connection between an occurrence and
damage that grows out of the occurrence, then the resulting damage is a part of
the occurrence.
conditional - Property and liability insurance policies are said to be ___________
contracts because the obligation of the insurer to perform may be conditioned
upon the insured satisfying certain conditions.
, Florida Insurance 20-44 study Exam rated A
100% correct answers
negligence - Ready Ralph Reiger, your insured, has not exercised the degree of
care to protect his neighbor from injury on his property; this is commonly referred
to as _______________.
loss - Risk means the chance of financial _____________.
amount of loss - The appraisal condition is only used to resolve issues of?
depreciation - The basic definition of Actual Cash Value is "current cost to replace"
less an allowance for _____________________.
$250,000 - What amount will be paid to an insured who has an insurance policy
with separate limits of $250,000 per building on two buildings and a $275,000 loss
occurs to one of the buildings?
probability - Physical, Moral, and Morale Hazards increase the
________________and/or severity of loss?
Pure Risk - only a chance of loss
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