Florida Property & Casualty Insurance / Personal Lines Rated A+

Insurance Terms and Related Concepts. (Florida Edition) Verified Answers What type of policy insures all property at multiple locations for a single amount? Blanket Policy! In property insurance, when must insurable interest exist? At the time of loss! An insured's business is damaged by a fi...

20-44 Personal Lines Agent PreXam Flashcards All Sets Rated A The cost to replace an item or property at the time of loss, minus depreciation ️Actual Cash Value (ACV) a type of policy limit which limits coverage to a specified total amount for all losses occuring w/in the policy period ️...

220 EXAM - FLORIDA STATUTES VERIFIED SOLUTIONS All of the following are grounds for compulsory refusal, suspension, or revocation EXCEPT: A. Unlawfully rebating B. Fraudulent submission of a Workers' Comp app C. Lack of reasonably adequate knowledge D. Soliciting insurance in other area...

Final Exam 4-40 Graded A+ The continuing education requirement to maintain a 4-40 license in Florida is: ️ten hours every two years A Personal Auto Policy (PAP) covers the insured in all places except: ️Mexico Joe is injured when the jack slips as he is changing a tire in his driveway. T...

2-20 Florida Insurance flashcards verified answers Pure Risk ️a situation that presents the opportunity for loss, but no opportunity for gain. due to physical damage or bodily injury. Ex. Fire Loss- not anticipated but poss. Speculative Risk ️We speculate or have uncertainty about an ev...

Property-Insurance Terms & Related Concepts All Answers Correct Insurance ️The TRANSFER of financial responsibility associated with a potential of a loss (risk) to an insurance company, which in turn spreads the costs of unexpected losses to many individuals. Insurance ️Contract in which o...

Exam 1 insurance licensing Florida All Answers Correct What is the primary difference between a staff adjuster and an independent adjuster? ️A staff adjuster works for an insurance company and an independent adjuster works independently for themselves or for adjusting firms who represent man...

2-20 General Lines Florida Insurance All Answers Correct Abandonment Clause ️often contained in a p/c policy stating that the insured cannot abandon damaged property to the (dump on) insurer and demand reimbursement for the full value. Accounts Receivable Coverage Form ️Inland Marine Cover...

2/19 Florida Statutes, Rules and Regulations Pertinent to General Lines Insurance Complete Guide Florida Automobile Joint Underwriting Association: ️Market source for persons who are unable to purchase Auto insurance through normal channels. Florida Automobile Joint Underwriting Associatio...

Claims Adjuster Florida Complete Solutions Rated A For purposes of insurance, a "loss" is best defined as: ️an unwelcomed, unplanned reduction in economic value An automatic sprinkler system in a hotel building is a risk reduction measure because it: ️reduces the amount of damage that ...

Personal Lines License 20-44 Already Graded A+ Warranty ️policy condition, either based on information in the insured's application or inserted by the insurer Misrepresentation ️an untrue statement by the insured, made in an application but does not become a part of the policy Broad E...

Types of Casualty Policies, Bonds and Related Terms Verified Answers personal injury ️injury to a persons character advertising injury ️nonphysical injury to a business (defamation) coverage territory ️-united states -US territories and possessions -Canada premise and operations ️ha...

20-44 Florida License Complete Guide Risk ️Change of a financial loss/uncertainty of a loss to happen/uncertainty of future outcome Assumed Risk ️Amount of risk the insured is willing to absorb Pure Risk ️A situation that present the opportunity for loss, but for no gain; Insurable risk ...

Florida 2-20 General Lines Insurance Guaranteed Success 5 qualifications to become a General Lines agent ️1. At least 18 years of age 2. United States citizen or legal alien 3. Bona fide resident of Florida 4. Place of business located in Florida 5. Not licensed for purpose of writing co...

Florida Licensing All Answers Correct All of the following describe insurable interest EXCEPT: • It must exist at the time of the loss • It must exist for insurance to respond • Shows a similarity between insurance and wagering • The insured would suffer an economic loss • Shows ...

FL 4-40 License Complete Guide Risk ️the chance of financial loss what is the only way that a person can transfer the risk of exposure to the insurance company? ️Is if the insurance company can measure the risk What is an insurance policy soley designed to do? ️to recompose the insured...

Florida Adjuster All Lines Graded A+ The Adjuster's Code of Ethics starts with a basic premise which states: ️The work of adjusting engages the public trust Once an adjuster is licensed he or she must maintain a continuing education requirement. Select from the following an adjuster's co...

Exam Questions 2-20 Units 1-17 Graded A+ True or False? An applicant for the 2-20 General Lines Agent License can seek the license for the purpose of writing "controlled business". ️False An applicant must not be seeking to obtain the 2-20 General Lines Agent License for the purpose of w...

P&C License Exam - Practice Test Questions Guaranteed Success Who would be able to collect survivor and death benefits from WC in the event the covered injury resulting in the death of an employee? ️Spouse of Employee Which type of crime best describes someone who waits until store personnel...