Florida insurance 20 44 - Study guides, Class notes & Summaries

Florida Residency Requirement - On the application to become a Personal Lines Agent the applicant must show they are a bona fide resident of Florida. Controlled Business - When more than 50% of an agent's income is anticipated to come from transactions for which the agent has a business, family, or pecuniary interest. Identifiable and Accessible Office - A Personal Lines Agent office exposure requirements. 18 years old - Age requirement to become Personal Lines Agent. 48 Months - The number...

Florida Claims Adjuster Exam 2023 1. Peril: Something that causes a loss. 2. Hazard: Something that increases the probability that a loss will occur. 3. Warranty: A policy condition, either based on information in the i nsureds appli- cation or inserted by the insurer. It is a guarantee of a fact. 4. Misrepresentation: An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 5. Concealment: Th...

20-44 Personal Lines Agent PreXam Flashcards ALL SETS Questions and Answers 100% Pass the cost to replace an item or property at the time of loss, minus depreciation - Correct Answer ️️ -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 - Correct Answer ️️ -Aggregate Limit conviction of a 3rd degree felony, liability for all unpaid claims, suspencion or revocation of all insurance license...

Florida Personal Lines 20-44 Definitions Questions and Answers 100% Pass Abandonment Clause - Correct Answer ️️ -A clause often contained in property insurance policies stating that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value Accident - Correct Answer ️️ -A sudden fortuitous event Actual Cash Value (ACV) - Correct Answer ️️ -The cost to replace an item of property at the time of loss, less an allowance for depreciat...

Florida Insurance 20-44 Exam Study

Transferring the risk to an insurance company is known as what?: Insurance 2. When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referredto as what?: Endorsement 3. George and Sandy only home which was damaged by fire who hasinsurableinterest: George and Sandy 4. What is the most common loss settlement valuation in the property poli-cies?: Actual cash value 5. The insurance company pays the insured for dam...

Florida Insurance Exam Auto and Home 20-44 questions and answer 2024

Florida Personal Lines 20-44 Definitions Exam Questions And Answers Abandonment Clause - ANS A clause often contained in property insurance policies stating that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value Accident - ANS A sudden fortuitous event Actual Cash Value (ACV) - ANS The cost to replace an item of property at the time of loss, less an allowance for depreciation. Often used to determine amount of reimburseme...

Transferring the risk to an insurance company is known as what? - 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? - Endorsement George and Sandy only home which was damaged by fire who has insurable interest - George and Sandy What is the most common loss settlement valuation in the property policies? - Actual cash value The insurance company pays the insured for damages ...

Florida Personal Lines 20-44 Definitions Questions and Answers 100% Pass Abandonment Clause - Correct Answer ️️ -A clause often contained in property insurance policies stating that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value Accident - Correct Answer ️️ -A sudden fortuitous event Actual Cash Value (ACV) - Correct Answer ️️ -The cost to replace an item of property at the time of loss, less an allowance for depreciat...