1 Exam (elaborations) Florida Property & Casualty Final Exam Well Answered 100% 2024. 2 Exam (elaborations) Florida Surplus Lines Insurance Training Exam With Complete Answers 2024. 3 Exam (elaborations) Florida Property & Casualty License Exam And All Correct Answers 2024 4 Exam (elaborations) ...
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Which of the following are the authorities that an agent can hold? - Answer Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - Answer Permanent partial disability Who is NOT considered an employee in an commercial gene...
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Add to cartWhich of the following are the authorities that an agent can hold? - Answer Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - Answer Permanent partial disability Who is NOT considered an employee in an commercial gene...
Transferring the risk to an insurance company is known as what? - Answer Insurance When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what? - Answer Endorsement George and Sandy only home...
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Add to cartTransferring the risk to an insurance company is known as what? - Answer Insurance When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what? - Answer Endorsement George and Sandy only home...
Answer The law of large numbers examines how likely an event will occur, such as using the information that 1 in every 500 cars will be stolen and selling 500 auto policies to cover the one theft. Answer Solicitors sell insurance policies, receive insurance premiums and represent the insura...
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Add to cartAnswer The law of large numbers examines how likely an event will occur, such as using the information that 1 in every 500 cars will be stolen and selling 500 auto policies to cover the one theft. Answer Solicitors sell insurance policies, receive insurance premiums and represent the insura...
S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of th...
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Add to cartS is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of th...
The arbitration clause in a personal auto policy would be used in which of the following circumstances? A. The ins company and a pedestrian struck by the insured's auto cannot reach an agreement regarding the settlement of a claim. B. The insured and an injured 3rd party cannot reach an agree...
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Add to cartThe arbitration clause in a personal auto policy would be used in which of the following circumstances? A. The ins company and a pedestrian struck by the insured's auto cannot reach an agreement regarding the settlement of a claim. B. The insured and an injured 3rd party cannot reach an agree...
Which of the following is NOT contained in the Conditions section of an insurance policy? b)a)ExclusionsAppraisal c)Changes d)Assignment - Answer The insured's duties after a loss include all the following, except: a)Notify police in the event of a theft c)Prb)Have property repaired q...
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Add to cartWhich of the following is NOT contained in the Conditions section of an insurance policy? b)a)ExclusionsAppraisal c)Changes d)Assignment - Answer The insured's duties after a loss include all the following, except: a)Notify police in the event of a theft c)Prb)Have property repaired q...
Declarations - Answer Identifies named insured, mailing address, policy period, coverages (limits & premium) and loss payees (lien holders) Insuring agreement - Answer types of property covered and perils insured against Conditions - Answer describes the rights and duties of the insured ...
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Add to cartDeclarations - Answer Identifies named insured, mailing address, policy period, coverages (limits & premium) and loss payees (lien holders) Insuring agreement - Answer types of property covered and perils insured against Conditions - Answer describes the rights and duties of the insured ...
Depreciation -Answer reduction in value, particularly due to wear and tear Exposure -Answer susceptibility to risk Implied Warranty -Answer a legal term meaning that a product is suitable for its intended purpose and that it fits an ordinary buyer's expectations Insurance Polic...
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Add to cartDepreciation -Answer reduction in value, particularly due to wear and tear Exposure -Answer susceptibility to risk Implied Warranty -Answer a legal term meaning that a product is suitable for its intended purpose and that it fits an ordinary buyer's expectations Insurance Polic...
B. A general lines agent or a general lines insurance agency - Answer Who may appoint a Customer Representative? Select one: A. A surplus lines agent holding a general lines license and a surplus lines license B. A general lines agent or a general lines insurance agency C. An adjuster D. ...
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Add to cartB. A general lines agent or a general lines insurance agency - Answer Who may appoint a Customer Representative? Select one: A. A surplus lines agent holding a general lines license and a surplus lines license B. A general lines agent or a general lines insurance agency C. An adjuster D. ...
Common Disaster Clause provides that if both the insured and the sole named beneficiary were to die in a common accident, which of the following is true? - Answer This clause provides the payment of proceeds to the insured's estate Under a life insurance policy the ___ has the authority to na...
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Add to cartCommon Disaster Clause provides that if both the insured and the sole named beneficiary were to die in a common accident, which of the following is true? - Answer This clause provides the payment of proceeds to the insured's estate Under a life insurance policy the ___ has the authority to na...
True or False? An applicant for the 2-20 General Lines Agent License can seek the license for the purpose of writing "controlled business". - Answer False An applicant must not be seeking to obtain the 2-20 General Lines Agent License for the purpose of writing "controlled business"; this i...
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Add to cartTrue or False? An applicant for the 2-20 General Lines Agent License can seek the license for the purpose of writing "controlled business". - Answer False An applicant must not be seeking to obtain the 2-20 General Lines Agent License for the purpose of writing "controlled business"; this i...
Risk - Answer the chance of financial loss Risk is NOT the loss itself, but the _________ of loss. - Answer CHANCE Policy - Answer a written contract for effecting insurance and includes Clauses, Riders, endorsements, and papers which are part of the contract Insurance - Answer ...
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Add to cartRisk - Answer the chance of financial loss Risk is NOT the loss itself, but the _________ of loss. - Answer CHANCE Policy - Answer a written contract for effecting insurance and includes Clauses, Riders, endorsements, and papers which are part of the contract Insurance - Answer ...
Rules of Construction - Answer Help to identify and establish the intent of the parties to the contract Utmost good faith - Answer Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith wi...
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Add to cartRules of Construction - Answer Help to identify and establish the intent of the parties to the contract Utmost good faith - Answer Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith wi...
.4 Qualifications for General Lines License - Answer 1. 18 or older 2. resident of FL or place of business in FL 3. will be active in business, business is accessible and identifiable by public 4. not licensing for writing or handling controlled business 5. Qualified via: a) 200 hr course ...
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Add to cart.4 Qualifications for General Lines License - Answer 1. 18 or older 2. resident of FL or place of business in FL 3. will be active in business, business is accessible and identifiable by public 4. not licensing for writing or handling controlled business 5. Qualified via: a) 200 hr course ...
actual authority - Answer anything a principal authorizes the agent to do aleatory contract - Answer contract in which the amounts exchanged are not equal conformity to statute - Answer a policy provision that says the policy follows a state's law if the law and policy language are in c...
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Add to cartactual authority - Answer anything a principal authorizes the agent to do aleatory contract - Answer contract in which the amounts exchanged are not equal conformity to statute - Answer a policy provision that says the policy follows a state's law if the law and policy language are in c...
CGL Medical Expenses payment within how long? - Answer 1 year from Expense Date To Recover under Boiler Policy on Replacement Cost basis, insured must repair or rebuild within: - Answer 18 Months Business Income Coverage for maximum of how many days? - Answer 120 Days or 4 Months NCCI...
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Add to cartCGL Medical Expenses payment within how long? - Answer 1 year from Expense Date To Recover under Boiler Policy on Replacement Cost basis, insured must repair or rebuild within: - Answer 18 Months Business Income Coverage for maximum of how many days? - Answer 120 Days or 4 Months NCCI...
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 cover...
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Add to cartWhat 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 cover...
Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - Answer D. All...
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Add to cartFrank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests - Answer D. All...
The Florida Surplus Service Lines Office (FSLSO) was created to - Answer oversee the surplus lines industry in the state Which of the following is NOT a required qualification for a General Lines Agent: - Answer Seeking the license only to write controlled business The Department of Financ...
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Add to cartThe Florida Surplus Service Lines Office (FSLSO) was created to - Answer oversee the surplus lines industry in the state Which of the following is NOT a required qualification for a General Lines Agent: - Answer Seeking the license only to write controlled business The Department of Financ...
Financial(monetary interest) Blood(a relative) Business(a business partner) - Answer 3 elements of insurable risk at the time of the loss - Answer In property and casualty insurance, insurable interest must exist __ ___ ____ __ ___ ____ insured - Answer anyone who is covered under the ...
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Add to cartFinancial(monetary interest) Blood(a relative) Business(a business partner) - Answer 3 elements of insurable risk at the time of the loss - Answer In property and casualty insurance, insurable interest must exist __ ___ ____ __ ___ ____ insured - Answer anyone who is covered under the ...
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,...
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Add to cartTypes 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,...
Which of the following licensees works for a person who is licensed as a property and casualty agent and explains coverage, describes insurance products and quotes premium rates? - Answer Insurance service representative Steven was having lunch with a group of agents when he made some false st...
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Add to cartWhich of the following licensees works for a person who is licensed as a property and casualty agent and explains coverage, describes insurance products and quotes premium rates? - Answer Insurance service representative Steven was having lunch with a group of agents when he made some false st...
Foreign Insurer - Answer US domiciled unathorized insurer eligible to operate in a state other than the state in which it is domiciled The purpose of FL surplus lines law - Answer To provide orderly access for the insuring public of the state to insurers not authorized to transact insurance...
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Add to cartForeign Insurer - Answer US domiciled unathorized insurer eligible to operate in a state other than the state in which it is domiciled The purpose of FL surplus lines law - Answer To provide orderly access for the insuring public of the state to insurers not authorized to transact insurance...
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