Exam (elaborations)
RANDOM QUESTIONS 220 FLA - GENERAL LINES AGENT QUESTIONS WITH SOLUTIONS 2024
- Course
- Institution
RANDOM QUESTIONS 220 FLA - GENERAL LINES AGENT
[Show more]
Content preview
RANDOM QUESTIONS 220 FLA -GENERAL LINES AGENT
insurance agreement is? - answer provides information on the policy's coverage's
what is the conditions? - answer legal obligations and duties of the parties to the
contract
what is arbitration? - answer when an insured and insurer cannot agree on how to settle
a claim
in return of a premium an insurance company must - answer must be fair and impartial
in underwriting of risks and must pay claims made for all covered loses
anyone covered under a policy, weather named or not is called - answer insured
which declaration page list; who is the insured, where they are located, when the policy
provides coverage, how much coverage and the amount of deductible applied to a loss -
answerhomeowners
when forming an insurance contract when does acceptance occur - answerwhen the
insurer approves a prepaid application
other insurance - answerits a provision in an insurance policy that defines how the
policy will respond if there is other valid insurance written on the same risk
no insurance policy form can be issued, delivered or used in this state unless it has
been - answerfiled with and approved by the office of insurance regulations
what does fiduciary responsibility mean - answermoney collected with respect to an
insurance transaction must be held in a position of trust by the agent or broker - agents
cannot commingle insurance monies with their own funds
what does the insurance guaranty association do? - answerprotects policy owners,
insured's and beneficiaries under life insurance policies, health insurance policies,
annuity contracts and supplemental contracts when insurers fail to perform contractual
obligations due to financial impairment
applications to an insurer must include - answerlicense ID# of the agent, name of the
insurer, name of the agent
, what is not conspired a misrepresentation as it pertains to unfair trade practices -
answermaking comparisons between different policies
what method do insurers use to protect themselves against catastrophic losses -
answerreinsurance
what entity is responsible for agent licensing and administrative supervision - answerthe
office of insurance regulation
the office of insurance regulations is responsible for? - answerall activities concerning
insurers including licensing and issuing certificates of authority, rates, policy forms,
claims, solvency, administrative supervision, enforcing the insurance code, instituting
legal proceedings and any other related provisions of the
what is not the responsibility of the office of insurance regulation? - answerenacting new
insurance laws
how is the insurance guaranty association funded - answerby its members - authorized
insurers
what is the meaning of defamation? - answerwhen a company criticizes the financial
situation of another company with the intention of injuring that company
in order for and insurer to legally transact insurance it must first obtain a? -
answercertificate of authority
a physicians and surgeons equipment floater is not intended for - answermedical
supplies located in the hospital
a physicians and surgeons equipment floater is intended for - answersurgeon's supplies
located in surgeon's office
waiting room furniture in doctors office
office equipment located in a dentist office
what are common exclusion found in part D: coverage for damage to your auto of a
PAP - answermechanical or electrical breakdown
damage due to wear and tear
damage to tires
insurance is the transfer of - answerrisk
(financial responsibility associated with a potential of a loss to an insurance company)
in a HO policy, how long does the removal coverage apply if the property has been
removed to be protected - answer30 days
the risk of loss may be classified as - answerpure and speculative risk
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 julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now