Florida Insurance

Which type of insurance protects an agent and even pays claims if a lawsuit is brought against the agent as a result of failing to provide a service to a client? - Errors and Omissions Insurance Which of the following terms is known as the voluntary relinquishment of a given right or privilege? - Waiver This Supreme Court case placed the regulation of insurance within the authority of the federal government by defining insurance as a form of interstate commerce? - United States v. Southeastern...

2-20 Florida Insurance Exam Questions and Answers 100% Pass Pure Risk - Correct Answer ️️ -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 - Correct Answer ️️ -We speculate or have uncertainty about an event under consideration that could produce either profit or loss. Ex. Lottery or Betting Policy - Correct Answer ️️ -Written contract or agreem...

Florida Insurance 2-15 Complete Study Questions And Answers 2024 Updated Quiz

What is one condition to re-instate a lapsed life insurance policy? - Answer-The policy has been expired no more than 3 years What are three common classifications underwriters use for risk? - Answer-Standard, substandard, and preferred What is intended to be covered by health insurance? - Answer-Accidental injury, illness, and medical costs If the total of a taxpayer's medical expense exceeds 10% of their adjusted gross income, what can be deducted? - Answer-Accident insurance premium...

The clause identifying which losses resulting from an accident or sickness are insured by the policy is called the: - Answer-Insuring clause K applies for a life insurance policy on herself and submits the initial premium with the application. She is given a receipt by the agent stating that coverage begins immediately if the application is approved. What kind of receipt was used? - Answer-Conditional A life insurance arrangement which circumvents insurable interest statutes is called: - A...

Unauthorized entities present a regulatory concern because they have the potential for __________ claims. - Unauthorized entities present a regulatory concern because they have the potential for unpaid claims. True or False? Willfully over insuring a health or property policy can be grounds for terminating an insurance license. - True. Willfully over insuring a health or property policy can be grounds for terminating an insurance license. The following are required to be on an application of i...

Florida Insurance Exam (2-15) Questions And Answers Rated A+ 2024 Tests A Supplementary Medical Expense policy combines the benefits of what two types of plans? Basic Medical and Major Medical Which of the following is not correct concerning Health Maintenance Organizations? They mandate enrollment for groups of 25 or more. Which is not true concerning a Hospital Fixed-Rate plan? Benefits are paid directly to the hospital

2-20 General Lines Florida Insurance Exam Questions and Answers 100% Pass Abandonment Clause - Correct Answer ️️ -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 - Correct Answer ️️ -Inland Marine Coverage form which insures against loss the insured suffers becasuse of an inability to collect from customers when AR records are damaged. A...

Which of the following risks ARE eligible for coverage under a businessowners policy (BOP)? A) Banks B) Automobile dealers C) Bars or taverns D) Condominiums ISO maintains a list of risks not eligible for consideration for a BOP. Financial institutions, auto dealers, and bars and grills are specifically excluded from coverage. - D) Condominiums ISO maintains a list of risks not eligible for consideration for a BOP. Financial institutions, auto dealers, and bars and grills are specifically ...

Types Of Property Policies - % Property Insurance Terms And Related Concepts - % Property Policy Provisions And Contract Law - % Types Of Casualty Policies, Bonds, And Related Terms - % Casualty Insurance Terms And Related Concepts - % Casualty Policy Provisions - % Florida Statutes, Rules, And Regulations Common To All Lines - % Florida Statutes, Rules And Regulations Pertinent To General Lines Insurance - % Florida Statutes, Rules And Regulations Pertinent To Health Insurance - % - Typ...