2-20 Florida state exam practice study questions and answers
8 views 0 purchase
Course
2-20 Florida state
Institution
2-20 Florida State
which of the following statements are true?
Statement One: Pure Risk is only the chance of financial loss. Statement Two: Speculative Risk is the chance of loss or gain.
both statements are true
Insurance companies are required to provide _____ day notice of either policy Renewal or Non-Renewal....
2-20 Florida state exam practice study
questions and answers 2024-2025
which of the following statements are true?
Statement One: Pure Risk is only the chance of financial loss. Statement Two:
Speculative Risk is the chance of loss or gain.
both statements are true
Insurance companies are required to provide _____ day notice of either policy
Renewal or Non-Renewal.
45
__________ is by and large when a property is without occupant or contents
(entirely and materially empty).
vacancy
All of the following are true regarding "contracts of adhesion" EXCEPT which of
the follow?
ambiguities are resolved in favor of the insurance company
All of the following are true regarding the Insuring Agreement in Liability
insurance policies EXCEPT:
payments are made directly to the insured or the insureds family members
Insurance contracts are personal contracts were the focus is on?
the person or persons being insured
2-20 florida state exam practice
,2-20 florida state exam practice
Insurance policies require all changes to the policy to be made in ___________ to
the insurance company.
writing
The insured has had a $60,000 loss and it has been discovered that she has two
liability policies which both apply to the same loss on a pro-rata basis. The first
policy has a $1,000,000 limit and the second policy has a $2,000,000 limit. How
much will each company pay towards this loss?
first company 20,000 and second company 40,000
An insurance policy can be changed by adding an ______________ to a policy
endorsement
Straight deductibles specify the deduction of a flat amount from a loss, regardless
of the ______ of the loss.
size
All of the following are true regarding "insurable interest" EXCEPT:
insurable interest is not required in a property insurance policy
Florida law deems information provided by the insured in an insurance application
to be _____________ and not ______________.
representations and not warranties
A man steps off a curb into busy traffic while he was texting on his iPhone; he
stepped directly in front of a car which was forced to slam on their brakes.
Unfortunately the car skidded into a food truck which then ricocheted into the food
truck next to it. What was the proximate cause of all the damage?
2-20 florida state exam practice
, 2-20 florida state exam practice
the man stepping into oncoming traffic
Which of the following statements if any are true? Statement One: Binders can be
oral or in writing. Statement Two: Binders are issued after the issuance of a policy.
only statement one is true
True or False? Requiring "Insurable Interest" in a Property and Casualty policy
upholds the principal of adhesion.
false
Florida is a pure "comparative negligence" legal venue. If you are 90% at fault in
an accident, what percent of your damages can you collect from the other party that
was 10% responsible for the accident?
10%
A ________ in insurance terms is the reduction and/or destruction in use, value,
access, custody, or function of or in property.
loss
Liability insurance means any insurance where payment by the insurance company
will be paid on behalf of the insured to another. Payment by the insurer will be
based upon the insured's ____________ to the payee/claimant.
liability
2-20 florida state exam practice
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PossibleA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
