Exam (elaborations)
FL General Lines 2-20 Exam Questions and Answers 2024
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FL General Lines 2-20 Exam
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FL General Lines 2-20 ExamTypes of Dwelling Properties - answer1. 1 to 4 family
2. Rented to Others
3. Owned by Corp. or Partnerships
4. Low Valued
5. Mobile Homes
Standard Dwelling Property Deductible - answer$500
Dwelling Property Coverage A - answer Dwelling - Including permanently installed
building equipment and outdoor equipment to service property. No land.
Dwelling Property Coverage B - answer Other Structures (Detached)
Dwelling Property Coverage C - answer Personal Property - Belonging to insured,
family members, guest or servant
Dwelling Property Coverage D - answerFair Rental Value - Rental monies which the
insured is entitled due to covered loss until property is restored.
Dwelling Property Broad Form - answerIncludes coverages in DP-1(Basic) plus
Coverage E - Additional Living Expense
Additional Perils not on DP-1 - answerCAP BOBBIE
Biggert-Waters Reform Act - answerLed to the passage of the Homeowner Flood
Insurance Affordability Act of 2014. Intent was to provide lower premiums due to
previous legislation.
HO-2 - answerCoverages:
A - Dwelling
B - Other Structures
C - Personal Property
D - Loss of Use
Perils covered A&B&C- Fire, lightning, WHARVES, CAP BOBBIE, plus theft
HO-3 - answerCoverages:
A - Dwelling
B - Other Structures
C - Personal Property
D - Loss of Use
, Perils covered-All Risk A&B - Spoilage- Contents - Fire, lightning, WHARVES, CAP
BOBBIE, plus theft
HO-4 - answerRenters Coverage
C - Personal Property
D - Loss of Use
Perils Covered- Contents - Fire, lightning, WHARVES, CAP BOBBIE plus theft
HO-6 - answerCondo Coverage
A - Dwelling
C - Personal Property
D - Loss of Use
Perils covered- A&C - Fire, lightning, WHARVES, CAP BOBBIE, plus theft
Inland Marine Coverage - answer6 categories - Imports/Exports, Domestic Shipments,
Instrumentalities of Transportation or Communitcation, Personal Property Floaters
Risks, Commercial Property Floater Risks
Inland Marine Controlled Coverage - answerCoverages which are standerdized forms
promulgated by the Bureau (ISO)
Controlled IM Coverage - Specific - answerCovered under this category of IM -
Cameras, fine arts, Golfer's equipment, jewelry & furs, musical instruments
Controlled IM Coverage - General - answerCovered under this category of IM -
Personal effects floater or personal property floaters - i.e. Firearms
Department of Financial Services - answerHeaded by CFO aka Treasurer
Primary responsibilities -
1. Issuing Licenses
2. Supervising claims activities of companies so policyholders receive prompt payment
3. Investigate charges of unethical conduct
Office of Insurance Regulations - answerResponsible for
1. Licensing (Issuing "Certificates of Authority")
2. rates (approval)
3. policy forms
4. Market conditions
5. Claims
6. solvency
Commisioner of Insurance Regulation
Office of Financial Regulation - answerResponsible for activities relation to the
regulation of banks, credit unions, other financial institutions, finance companies, and
the securities industry.
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