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Exam (elaborations)

Florida 2-20 Insurance License Exam Questions And Correct Answers (Verified Answers) A+ Grade

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FLORIDA 2-20 INSURANCE LICENSE EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) A+ GRADE

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coverage C is normally what % of coverage A under homeowners policies?


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50%




What is the total coverage available for "all other residential" under "eligible buildings"
through the NFIP?

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500,000




indemnitor


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one who agrees to reimburse the surety for any loss it may suffer from
having bonded the principal




Who is not covered under workers comp?


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domestic servants, "small" farms, pro athletes, sports officials, prisoners
working




peril


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potential cause for loss




How many carriers must refuse an insured to be eligible under FWCJUA?

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2 carriers




expediting expense coverage


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business that needs to resume operations as soon as possible following a
loss. this coverage covers the extra cost of this transaction




What is the limit for coverage for each tree/shrub/plant under the homeowners
policy?


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500 per plant




independent adjuster


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an adjuster who works for several companies on a contract basis




actual total loss

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property no longer exists or is beyond salvage




Condo unit owners form


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Same coverage as association form except its designed for the unit owner
not the association.




differences in conditions policy


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special form used to fill coverage gaps. helps fill the gaps that are left
behind by the NFIP.




What does property coverage B include?


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other structures: items not permanently attached to main dwelling such as
fences, sheds




builders risk coverage form

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