Florida 2-20 Agents License Exam
Questions
"Additional Coverage", below a Commercial Property coverage encompass all the following
except: - ANS-Newly acquired places for as much as 60 days
10% for a self-storage facility does now not observe to private assets this is moved from the
residence premises because: - ANS-It's being repaired
A _____________ is needed in order for an insurer to transact coverage in Florida. -
ANS-Certificate if Authority
A declare beneath an ISO Commercial Crime Coverage Form is challenge to the
Valuation—Settlement situation. Which one of the following is actual concerning this
Valuation—Settlement condition? - ANS-Damaged assets is valued at substitute cost or the
insurer can restore or replace the property
A Commercial Package Policy (CPP) top rate can be modified through a bundle modification
issue. This element - ANS-Is a reduction justified by way of the extra efficiency in presenting a
package coverage.
A Commercial Package policy can also consist of the subsequent coverage types EXCEPT: -
ANS-Health
A condominium unit proprietor might use which shape? - ANS-HO-6
A description of the belongings insured, a listing of mortgagees, and the applicable coinsurance
percent(s) are shown on which one of the following files? - ANS-Commercial belongings
declarations
A Florida insured has a Personal Auto Policy offering PIP coverage with a $1,000 deductible.
The insured is injured in his vehicle and sustains $15,000 in medical payments. How a great
deal will his policy pay underneath PIP? - ANS-$10,000
A owners policy premium is determined via first growing the base top class. The base top class
is stimulated by way of positive elements, consisting of which one of the following? -
ANS-Dwelling place
A policy with Citizens can be changed with a policy from a licensed insurer at any time
throughout the coverage length with a ________day note. - ANS-60
A small commercial enterprise proprietor worried about something taking place and no longer
being able to work or earn a residing for an prolonged time frame due to an coincidence should
purchase - ANS-Disability coverage.
A hurricane reasons strength lines to interrupt ten miles from the insured's premises. The loss of
electrical power causes meals inside the insured's freezer to thaw and ruin. Coverage for this
loss is - ANS-Excluded because the power failure came about off the house premises.
A time period used to indicate a partial loss attributable to a sacrifice of shipment to store
closing property (jettison) Each birthday celebration then stocks within the loss in proportion to
their total hobby in belongings being transported - ANS-General Average
,A written settlement that includes all clauses, riders, endorsements and papers is known as: -
ANS-Policy
ABC, Inc., is a huge, country wide store that sells a ramification of customer items. ABC
contains a Commercial Package Policy that consists of Insurance Services Office's Commercial
Crime Coverage Form (Loss Sustained) with the subsequent insuring agreements: Employee
Theft; Forgery or Alteration; Inside the Premises—Theft of Money and Securities; and Inside the
Premises—Robbery or Safe Burglary of Other Property. The limit of coverage for every this type
of insuring agreements is $a hundred,000 and the deductible in line with occurrence for every
this type of insuring agreements is $1,000. The policy 12 months is 20X1. During 20X1,
personnel, Beth and Jim, in collusion, stole money and products from ABC. Beth and Jim stole
cash on May 1, 20X1 and August 13, 20X1. They also stole products on January 15, 20X1 and
September 29, 20X1. The quantity of the cash loss totaled $15,000 even as the quantity of the
merchandise loss totaled $110,000. W - ANS-$100,000
Adam and his insurer disagree on the quantity of a loss protected through his homeowners
policy. Adam wishes the insurer to pay $10,000 toward the loss. The insurer's representative
feels that the loss need to be worth $5,000. How could the appraisal technique resolve this
example? - ANS-Adam and the insurer will each pick out an appraiser, and the 2 appraisers will
publish their variations to an unbiased umpire who will attain a decision.
After a loss the insured need to do all the following except: - ANS-Discontinue premium bills
All "hold-out" and "take-out" plans of Citizens are challenge to the ___________ statute. -
ANS-Consumer Choice
All of the following are BI and PD exclusions underneath the CGL EXCEPT: - ANS-Excessive
Liability
All of the following are controlled Commercial Inland Marine strains EXCEPT: - ANS-Annual
Transit
All of the following are insurance extensions observed within the Building and Personal Property
Coverage form besides: - ANS-Off premises signal insurance up to $2,500
All of the subsequent are deductibles for FAJUA Physical Damage Coverage EXCEPT: -
ANS-$2,500
All of the following are eligible for a homeowners coverage EXCEPT: - ANS-Owner-occupants of
a 1-6 family dwelling
All of the subsequent are eligible for the PAP coverage EXCEPT: - ANS-Corporations
All of the following are exclusions beneath Garage Insurance Physical Damage coverage
EXCEPT: - ANS-Expected losses
All of the subsequent are Major Medical Insurance exclusions EXCEPT: - ANS-Cosmetic
surgery required by using coincidence
All of the subsequent are not real regarding belongings coverages below the Businessowners
policy EXCEPT: - ANS-ACV on personal property
All of the following are Optional Coverages beneath the Buisnessowners coverage EXCEPT: -
ANS-Collapse
All of the subsequent are consequences under the Florida No-Fault Law EXCEPT: - ANS-SR 22
denied
, All of the following are real of the Supplemental Extended Reporting Period (SERP) underneath
a Claims-made CGL coverage besides: - ANS-The insurance is automated and want no longer
be requested with the aid of the insured.
All of the following can be an insured underneath the Lawyers Professional Liability coverage
EXCEPT: - ANS-Lawyers for their offerings after termination
All of the following coverages are available for FAJUA commercial automobiles over 10,000 lbs
EXCEPT: - ANS-Collision
All of the subsequent fall under the definition of sliding EXCEPT: - ANS-Giving the applicant a
portion of the fee
All of the subsequent paperwork will observe to owner-occupants of 1-four family dwellings
EXCEPT: - ANS-HO-6
All of the subsequent Special Limits can be extended EXCEPT: - ANS-Firearms from $2,500 to
$10,000
Allen, a sole proprietor, is crossing the street when he is struck by means of a passing
uninsured car. He sustains $2,500 in medical bills, $3,000 damage to the laptop he was
sporting, and $1,000 in lost wages. Allen's commercial enterprise automobile coverage has
$100,000 liability restrict and $5,000 scientific payments limit. Assuming there may be no
different insurance, how much will his business vehicle policy pay? - ANS-$2,500
Alterations or additions made to the constructing at the rate of an insured who does now not
personal the building and who can not legally do away with them are referred to as -
ANS-Improvements and betterments.
An animal damaged the indoors of an insured's car while it turned into parked with the home
windows down. Which one of the following kinds of bodily harm coverage under the Business
Auto Coverage Form could cowl this loss? - ANS-Comprehensive
An organisation that makes a decision to purchase particular excess coverage to cover
catastrophic workers compensation losses have to pay losses which might be which one of the
following? - ANS-Up to the retention for one prevalence.
An instance of when a allow bond may be required , might be: - ANS-An athletic occasion
An exclusion contained inside the Causes of Loss—Basic Form eliminates coverage for harm
resulting from which one of the following? - ANS-Mechanical breakdown, such as rupture or
bursting because of centrifugal force
An insured covers his owned auto with a couple of Personal Auto Policy (PAP), each from a
extraordinary insurer. In the occasion of a declare for scientific bills insurance, - ANS-Each
insurer will pay its seasoned rata share based on the percentage that its restrict of liability bears
to the overall of applicable limits.
Any coverage wherein price by means of the insurer will be paid immediately to the insured or
names interests is referred to as: - ANS-Property insurance
As in line with Florida law, this consists of absolutely everyone engaged as indemnitor, surety, or
contractor within the business of entering into contracts of coverage or of annuity. - ANS-insurer
Basic limits for Hospital Professional Liability are - ANS-$250,000/$750,000
Basic limits for the Hospital Professional Liability form are: - ANS-$250,000/$750,000
Before people compensation statutes were enacted, what was the remedy for employees with
paintings-associated injuries? - ANS-They had to establish that the business enterprise become
at fault to get better damages.
