R florida claims 2024 - Study guides, Class notes & Summaries

Florida General Lines Agent Exam questions and answers 2023/2024 solved 100% correct Answers are highlighted in red What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage Answer a What is an insurance policy? a.A binder that offers initial in...

Module 3.33 Set Test For Florida Claims 2024 Questions & Detailed Answers 1.This optional provision states that if the insured becomes totally disabled, premiums are waived but the coverage remains in force: A. Waiver of Subrogation B. Waiver of Premium C. Waiver of Value D. None of the Above - ANSWER B. Waiver of Premium "premiums are waived" 2.Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. Th...

Florida MLO State Exam 2024 Questions with Complete Answers || (Verified BY Expert) || Already Graded A+ Mortgage Guaranty Trust Fund - ANSWER The fund protects consumers by insuring payment to those who suffer financial losses due to fraud and/or deception by the mortgage originator. Collection for the fund will begin in the 2010 licensing period and include the following nonrefundable fees (in addition to the regular application fee) for brokers, lenders, and originators...

Module 5.55 Test For Florida Claims 2024 Questions ,Answers & 100% Detailed !!! 1.The insurer and insured agree to a specific value of insured item - ANSWER Agreed Value Policies 2.Someone who has care, custody or control of another's property - ANSWER Bailee 3.Claim filed by policy holder against his _ - ANSWER First Party Claim 4.When a person who entrusts another with an object and it results in injury to someone can be held liable for the injury to someone. Can be held liable for t...

Module 4.44 Test For Florida Claims 2024 With Verified Answers 1]A claim in the property/casualty industry Is defined as: - ANSWER an assertion of an alleged legal right against a person, entity, company or insurer that carries with it a demand for money as compensation for injuries or damages 2] when you purchase insurance, you are buying: - ANSWER peace of mind that if an insured event does occur, that the insurance company will keep its promise and provide the financial protection...

Florida Insurance Exam questions and answers 2024 The clause identifying which losses resulting from an accident or sickness are insured by the policy is called the: - ANSWERS 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? - ANSWERS Conditional A life insurance arrangement which circu...