Exam (elaborations)
FL Personal Lines Agent 2044 Questions and Answers 2024
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FL Personal Lines Agent 2044
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FL Personal Lines Agent 2044warranty - answer Agreement between insured and insurer that certain conditions will
be met
Vicarious Liability - answer Legal responsibility placed on one person for the acts of
another.
Vacant - answer The absence of both people and property from a premises.
Unscheduled Coverage/ Blanket Insurance - answerA single coverage amount that
applies generally to personal property.
UM - answerPays insured if the at fault driver has no insurance or not enough or Hit &
run
Covers:
NI & family members in their own car, in other vehicles, and as pedestrians.
Other persons covered while occupying NI's car
UM Stacked vs Unstacked - answerStacked - limits provided for two or more vehicles
are added together in determining limit of coverage available to injured person in one
accident
Unstacked - coverage available is only the limit applicable to that specific vehicle
Subrogation - answerTransfer to the insurance company of the insured's right to collect
for damages
Speculative Risk - answera situation in which either profit or loss is possible
Severability Clause - answerA standard Liability insurance clause that means that
insurance applies separately to each insured.
Robbery - answerThe taking or attempted taking of property by one who has caused or
threatened to cause bodily harm
Residual Market - answerAn organization created by the Legislature to provide Florida
residents with crucial or required coverages generally unavailable in the voluntary
market.
, Pure Risk - answerA situation in which there are only the possibilities of loss or no loss
but no gain
Punitive Damages - answerDamages that punish the wrongdoer for anti-social actions,
rather than compensating for loss
Proximate Cause - answerWhen 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.
Occurrence - answerAn accident, including continuous or repeated exposure to
substantially the same general harmful conditions.
Optionally Renewable - answera type of health insurance that cannot be cancelled
during the policy term, but for which the company reserves the right to non-renewal the
policy at expiration.
Personal Articles Floater - answerPersonal Inland Marine insurance which provides all-
risk coverage on nine optional classes of personal property: jewelry, furs, cameras,
musical instruments, silverware, golf equipment, fine arts, stamp collections and coin
collections.
Named Nonowner Coverage - answerCoverage for a named individual who does not
own an auto while the insured is operating autos owned by others
Noncancellable - answerA type of health insurance policy that the company may not
cancel, but must renew to a certain age with no change in premium. Affords the greatest
degree of continuation protection to the insured.
Liberalization Clause - answerA policy condition providing that if a policy form is
broadened at no additional premium, the broadened coverage automatically applies to
all existing policies of the same type. More coverage, same premium amount
Umpire / Arbitration - answerCourt appointed 3rd party to decide on an appraisal. /
Settle claim by accepting decision of 3rd party
Inflation Guard - answerPolicy limits will increase a certain percentage at regular
intervals (annually)
Insurance Service Office (ISO) - answerAn organization made up of member
companies, which collects and analyzes statistics collected from members and then
establishes and files standard rates for many lines of insurance. Also develops
standardized forms.
Insuring Agreement - answerThe section of an insurance policy containing the insurer's
promise to pay, the description of coverage provided and perils insured against.
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