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FLORIDA 4-40 CUSTOMER REPRESENTATIVE (CIR) LICENSE – ENGLISH QUESTIONS AND RIGHT ANSWERS
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FLORIDA 4-40 CUSTOMER REPRESENTATIVE (CIR) LICENSE – ENGLISH QUESTIONS AND RIGHT ANSWERS
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FLORIDA 4-40 CUSTOMER REPRESENTATIVE (CIR)LICENSE – ENGLISH QUESTIONS AND RIGHT ANSWERS
Jesse's,home,is,worth,$200,000,and,he,has,a,homeowners,policy,with,a,$160,000,limit.,After,a,covered,l
oss,,Jesse,is,left,with,a,total,of,$10,000,in,damages.,Assuming,the,insurer,requires,the,standard,80%,lev
el,of,insurance,for,coinsurance,purposes,,and,ignoring,any,deductibles,,how,much,will,Jesse,receive,in,in
demnification?,ANS,-10,000
A,power,surge,sparks,a,small,electrical,fire,in,an,office,building.,The,electrical,fire,triggers,the,automatic,
sprinkler,system.,The,water,from,the,sprinklers,soaks,the,carpets,and,shorts-
out,all,the,computers,,causing,thousands,of,dollars,in,damage.,What,is,the,proximate,cause,of,the,loss?,
ANS,-The,power,surge
Which,of,the,following,statements,is,NOT,true,of,an,insurance,adjuster?,ANS,-
An,insurance,adjuster,receives,her,authority,to,sell,products,on,behalf,of,the,insurer,through,a,written,c
ontract.
Samantha,,an,agent,for,NED,Insurance,,routinely,misrepresents,policy,provisions,or,fails,to,bring,them,u
p,at,all,in,her,sales,discussions,with,potential,clients,in,an,effort,to,make,more,sales.,All,of,the,following,
statements,are,likely,true,,EXCEPT:,ANS,-
Samantha,is,fulfilling,her,fiduciary,duty,to,NED,Insurance,by,selling,more,policies.
After,her,business,suffered,damage,in,a,fire,,Jane,filed,a,claim,with,Acme,Insurance,,which,dispatched,B
ob,to,adjust,it,,even,though,he,was,not,allowed,to,adjust,commercial,claims.,He,investigated,Jane's,loss
es,and,submitted,his,estimate,to,Acme,Insurance,,which,issued,her,a,settlement,check,based,on,that,est
imate.,Bob,had,_______,because,Acme,Insurance,accepted,his,estimate,and,paid,Jane's,claim.,ANS,-
apparent,authority
Which,of,the,following,was,NOT,a,major,benefit,of,The,My,Safe,Florida,Home,Program?,ANS,-
Disaster,preparedness,education
Sam,,who,has,a,typical,HO-
3,policy,,is,forced,to,evacuate,his,home,by,civil,authorities,due,to,rising,flood,waters,in,his,neighborhoo
d.,It,takes,a,month,before,Sam,is,allowed,to,come,back,to,his,home.,During,this,time,,he,has,spent,$3,0
00,in,hotel,expenses,,on,top,of,his,monthly,mortgage,payment,of,$850.,When,he,files,a,claim,,how,muc
h,will,Sam,receive,under,Coverage,D,-,Loss,of,Use?,ANS,-$0
,Anton,is,purchasing,homeowner's,insurance,for,his,new,house.,He,wants,to,make,sure,his,policy,offers,t
he,BEST,coverage,available.,Which,policy,should,Anton,choose?,ANS,-HO-5
Sally,has,an,HO-
3,policy,on,her,$150,000,home,in,the,country.,One,day,,a,bear,breaks,down,Sally's,back,door,to,get,into,
her,kitchen,for,a,snack.,When,Sally,comes,home,to,find,the,damage,,she,files,a,claim,with,her,insurance,
company.,Will,the,damage,to,Sally's,home,be,covered,,and,why,or,why,not?,ANS,-Yes.,The,HO-
3,is,an,open-peril,policy,,without,an,exclusion,for,wildlife.
John,moved,out,of,his,house,and,put,it,up,for,sale,three,months,ago.,While,he,was,waiting,for,the,hous
e,to,sell,,John's,plumbing,pipes,froze,and,burst,in,the,icy,temperatures,,which,eventually,led,to,water,da
maging,the,cabinetry,and,hardwood,floors.,Which,of,the,following,statements,would,most,likely,be,TRU
E?,ANS,-Although,John's,house,was,still,covered,under,an,HO-
3,,the,damage,would,not,be,covered,because,he,didn't,shut,off,the,water,supply.
Craig,has,an,HO-
3,policy,covering,his,primary,residence,with,a,Coverage,A,limit,of,$250,000,,Coverage,B,limit,of,$25,000,
,and,a,Coverage,C,limit,of,$150,000.,Craig,also,has,a,cabin,on,the,lake,,which,was,burglarized.,The,thieve
s,stole,much,of,the,cabin's,contents,,for,a,total,loss,of,$18,500.,Ignoring,any,deductibles,,how,much,will,
Craig's,HO-3,policy,pay,for,this,claim?,ANS,-$15,000
Which,of,the,following,is,TRUE,concerning,a,Business,Owners,Policy?,ANS,-
A,business,owners,policy,offers,liability,protection.
Liability,coverage,in,a,BOP,is,provided,on:,ANS,-an,occurrence,basis,,only.
Diana,is,insured,under,a,DP-2,policy,with,the,following,coverage,limits:,Coverage,A,-
,$150,000,,Coverage,B,-,$15,000,,and,Coverage,C,-
,$25,000.,She,and,her,fiancé,have,planned,a,destination,wedding,,but,their,hotel,catches,fire,shortly,aft
er,their,arrival.,Smoke,from,the,fire,damages,all,of,their,belongings,,including,Diana's,$4,000,wedding,dr
ess.,Diana's,loss,totals,$5,200.,When,she,files,a,claim,with,her,insurance,company,,how,much,can,she,ex
pect,to,receive,for,this,loss,under,her,DP-2,(ignoring,any,deductible)?,ANS,-$2,500
Which,of,the,following,may,be,covered,under,a,DP-3?,ANS,-Flood
, Which,of,the,following,would,be,covered,under,Coverage,A,in,a,dwelling,policy?,ANS,-
Damage,to,the,land
Farmer,Scott,owns,a,farm,and,raises,goats,,producing,a,lot,of,manure.,Occasionally,,after,a,strong,rain,,s
ome,of,the,waste,washes,into,a,nearby,river.,Which,insurance,coverage,can,protect,Scott,from,any,liabil
ity,caused,by,the,goat,waste,runoff?,ANS,-Farm,Pollution,Liability
Phil,runs,a,locomotive,repair,business,,which,is,insured,under,a,commercial,property,policy.,One,night,,s
ome,blasting,powder,is,accidentally,ignited,and,blows,a,crowbar,through,one,of,the,engines.,No,one,is,h
urt,,but,the,locomotive,is,severely,damaged.,Which,coverage,option,may,help,cover,the,cost,of,repairin
g,the,engine,from,this,unfortunate,event?,ANS,-Legal,Liability,Coverage
Which,of,the,following,events,would,trigger,the,end,to,a,commercial,property,Builders,Risk,Coverage,Fo
rm?,ANS,-The,building,is,accepted,by,the,purchaser.
Larry,owns,a,restaurant,downtown,and,employs,his,cousin,Vinny,as,one,of,the,line,cooks.,Vinny,is,a,rath
er,careless,individual,,and,one,night,he,leaves,the,stove,on,,leaking,gas,throughout,the,kitchen.,When,th
e,ice,machine,turns,on,,it,sparks,a,massive,explosion.,Which,condition,in,Larry's,commercial,property,po
licy,indicates,that,he,may,be,covered,for,this,loss?,ANS,-Control,of,Property
Scott,lived,in,a,mobile,home,before,it,was,completely,destroyed,in,a,recent,flood.,The,mobile,home,is,la
rge,enough,to,qualify,for,a,special,loss,settlement,under,his,flood,policy,,which,has,a,limit,of,$28,000.,B
efore,the,flood,,the,mobile,home,was,worth,$15,000,,but,it,would,cost,$25,700,to,buy,a,new,one,today.
,How,much,indemnification,will,Scott,receive,for,this,loss?,ANS,-$22,500
DEC,Construction,was,hired,to,completely,renovate,Randall's,department,store.,DEC,Construction,is,in,c
harge,of,the,project,,but,hires,Mac,Electric,(an,independent,contractor),to,complete,the,electrical,portio
n,of,the,job,and,requires,Mac,to,buy,Owners,&,Contractors,Protective,Liability,coverage,as,a,condition,o
f,the,contract.,Who,would,be,listed,as,the,named,insured(s),for,this,coverage?,ANS,-DEC,Construction
On,January,27,,2008,,Ryan,was,using,an,exercise,bike,purchased,from,NusquamCycle,when,the,chain,br
oke,,causing,him,to,fall,and,severely,bruise,his,knee.,It,seemed,to,heal,just,fine,,but,three,years,later,,on
,January,25,,2011,,Ryan's,knee,gave,out,while,jogging.,His,doctor,told,him,that,he'll,need,surgery,and,th
at,this,deterioration,most,likely,resulted,from,the,earlier,accident,with,the,exercise,bike.,Which,of,the,fo
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