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

Personal Lines License 20-44 Exam Questions and Answers 100% Pass Warranty - Correct Answer ️️ -policy condition, either based on information in the insured's application or inserted by the insurer Misrepresentation - Correct Answer ️️ -an untrue statement by the insured, made in an application but does not become a part of the policy Broad Evidence Rule - Correct Answer ️️ -a method of determing the true insurable worth of a structure or vehicle according to any measure that...

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...

Personal Lines License 20-44 Exam Questions And Answers Warranty - ANS policy condition, either based on information in the insured's application or inserted by the insurer Misrepresentation - ANS an untrue statement by the insured, made in an application but does not become a part of the policy Broad Evidence Rule - ANS a method of determining the true insurable worth of a structure or vehicle according to any measure that will provide the most accurate analysis of th...

Personal Lines License 20-44 Exam Questions and Answers 100% Pass Warranty - Correct Answer ️️ -policy condition, either based on information in the insured's application or inserted by the insurer Misrepresentation - Correct Answer ️️ -an untrue statement by the insured, made in an application but does not become a part of the policy Broad Evidence Rule - Correct Answer ️️ -a method of determing the true insurable worth of a structure or vehicle according to any measure that...

Personal Lines License 20-44 Exam Questions and Answers 100% Pass Warranty - Correct Answer ️️ -policy condition, either based on information in the insured's application or inserted by the insurer Misrepresentation - Correct Answer ️️ -an untrue statement by the insured, made in an application but does not become a part of the policy Broad Evidence Rule - Correct Answer ️️ -a method of determing the true insurable worth of a structure or vehicle according to any measure that...

1 / 34 FLORIDA CLAIMS ADJUSTER EXAM QUESTIONS AND ANSWERS 2023 EXAM GRADED A (Over 200 questions and answers 100% verified) 1. 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: Ans- D. All listed interests Remember that the insurer is not responsible to know...

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 Speculative Risk ️Uncertainty about an event under consideration that could produce either a profit or loss/Business venture/Non-insurable risk Insurance ️Contract where one indemnifies or p...

Florida Insurance 20-44 Exam Study review complete solution.

Florida Personal Lines 20-44 Definitions Complete Solutions Abandonment Clause ️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 ️A sudden fortuitous event Actual Cash Value (ACV) ️The cost to replace an item of property at the time of loss, less an allowance for depreciation. Often used to determine amount of reimbursement for a loss (ACV=Repla...

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 Speculative Risk - Uncertainty about an event under consideration that could produce either a profit or loss/Business venture/Non-insurable risk Insurance - Contract where one indemnifies or pays another a specific amount Law of Large Numbe...