20-44 Personal Lines Agent Pre Exam All Sets 2026/2027 A+ Grade Complete
Questions and Answers Collection
the cost to replace an item or property at the time of loss, minus depreciation - (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 - (answer)Aggregate Limit
conviction of a 3rd degree felony, liability for all unpaid claims, suspencion or revocation of all insurance
licenses - (answer)Aiding and Abetting an unathorized insurer
insurer other than a domestic or foreign insurer - (answer)Alien
"open perils" insurance - protecting the insured from loss arising from any peril other than those perils
specifically excluded by name - (answer)All Risk Insurance
the authority given by an insurer or employer to a licensee to transact insurance or adjust claims on
behalf of an insurer or employer - (answer)Appointment
in the event the insured and the insurer cannot agree on amount of claim settlement, each appoints an
appraiser - (answer)Appraisal Clause
policy transfer from one insured to another - (answer)Assignment
one authorized by a subsisting certificate of authority issued by the department to transact insurance in
this state - (answer)Authorized insurer
an oral/written statement providing immediate insurance protection, valid for a specified period.
Designed to provide temporary coverage until a policy can be issued or denied - (answer)Binder
single amount of coverage applies to ANY loss of injury up to the single amount - (answer)Blanket
Insurance
,20-44 Personal Lines Agent Pre Exam All Sets 2026/2027 A+ Grade Complete
Questions and Answers Collection
a method of determing the true insurable worth of a structure or vehicle according to any measure that
will prvoide the most accurate analysis of that property's value - (answer)Broad Evidence Rule
an originating general lines agent placing business w/ a company w/ which he/she is not appointed -
(answer)Brokering Agent
monitors the conduct of insurers as it realtes to policyholder treatment - (answer)Bureau of Market
Conduct
insurer may cancel only for non payment of premium, material misrepresentation or fraud, or
suspension or revocation of the DL or registration of vehicle. - (answer)Cancellation after 60 days of new
policy or renewal
F.S states an insurer can cancel for any reason except discrimination with respect to race, color, national
origin, creed, marital status or sex. - (answer)Cancellation during the first 60 Days of a new policy
a company that provides risk mitigation services for its parent company - (answer)Captive Insurance
Company
specifies what perils are insured against and lists exclusions. Several different versions provide
increasingly broad coverage from Basic to Broad to special. - (answer)Causes of Loss Form
- act as an insurer - transact insurance (directly or indirectly) - solicit insurance applications If does so
w/out certificate, commits 3rd degree felony - (answer)Certificate of Authority
the head of the department of financial services, also known as the treasurer. - (answer)Chief Financial
Officer
,20-44 Personal Lines Agent Pre Exam All Sets 2026/2027 A+ Grade Complete
Questions and Answers Collection
Merged together in 2001 from FRPCJUA and FWUA to provide a market for those residential Properties
unable to obtain Coverage in Voluntary market - (answer)Citizens
lower rates for insureds who insure a high percentage of the value of the subject property -
(answer)Coinsurance
requires insured to pay part of loss if coverage is less than the specified percentage of the value of the
property at the time of loss FORMULA: Loss x (Limit of Insurance/Value of Property x Coinsurance %) =
Loss Settlement - (answer)Coinsurance Clause
Loss X Limits of insurance/value of property x coinsurance percentage = Loss Settlement -
(answer)Coinsurance Formula
- foreign or alien insurer authorized to do business in this state - during 3 fiscal years - written avg 25%+
direct premiums in this state than in state of domicile - direct premiums are 55%+ of its total premiums
written in U.S. during 3 fiscal years - (answer)Commercially Domiciled Insurer
reduces a plaintiff's damages by the plaintiff's degree of negligence - (answer)Comparative Negligence
Rule
Property and liability insurance Policies are said to be conditional contracts because the obligation OR
the insurer to perform may be condition Upon the insured satisfying Certain conditions. -
(answer)Conditional Contract
Parties are of un equal bargain power. and one party (the insured) cannot negotiate the terms. having to
take the offer of the other party (the insurer) as made - (answer)Contract of Adhesion
if one contributed to their own injuries in any way, they could not recover a dime from others -
(answer)Contributory Negligence Rule
when the majority of insurance written is for family members - (answer)Controlled Business
, 20-44 Personal Lines Agent Pre Exam All Sets 2026/2027 A+ Grade Complete
Questions and Answers Collection
money amount w/ which liability insurance is concerned. - (answer)Damages
the section of an insurance contract which shows who is insured, what property or risk is covered, when
and where coverage is effective and how much coverage applies - (answer)Declarations
physical loss to tangible property - (answer)Direct Loss
physical harm to property due to peril - (answer)Direct Loss
insurance formed under the laws of this state - (answer)Domestic Insurance Company
the state/country/providence under the laws of which the insurer was formed - (answer)Domicile
a document which is attached to the policy and modifies or changes the original policy in some way -
(answer)Endorsement
contribution based on the amount of policies regardless of their limits - (answer)Equal Shares
Employee Retirement Income Security Act - (answer)ERISA
Greek word "Ethos", personal respect, ideals of service to others in an unselfish manner - (answer)Ethics
all other insurances exhausted before the policy will apply - (answer)Excess
An endorsement that extends liability coverage, (and optionally Medical payments) to name individuals
for a nonowned automobile which is furnished for their regular use. - (answer)Extended Nonowned
Coverage
Questions and Answers Collection
the cost to replace an item or property at the time of loss, minus depreciation - (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 - (answer)Aggregate Limit
conviction of a 3rd degree felony, liability for all unpaid claims, suspencion or revocation of all insurance
licenses - (answer)Aiding and Abetting an unathorized insurer
insurer other than a domestic or foreign insurer - (answer)Alien
"open perils" insurance - protecting the insured from loss arising from any peril other than those perils
specifically excluded by name - (answer)All Risk Insurance
the authority given by an insurer or employer to a licensee to transact insurance or adjust claims on
behalf of an insurer or employer - (answer)Appointment
in the event the insured and the insurer cannot agree on amount of claim settlement, each appoints an
appraiser - (answer)Appraisal Clause
policy transfer from one insured to another - (answer)Assignment
one authorized by a subsisting certificate of authority issued by the department to transact insurance in
this state - (answer)Authorized insurer
an oral/written statement providing immediate insurance protection, valid for a specified period.
Designed to provide temporary coverage until a policy can be issued or denied - (answer)Binder
single amount of coverage applies to ANY loss of injury up to the single amount - (answer)Blanket
Insurance
,20-44 Personal Lines Agent Pre Exam All Sets 2026/2027 A+ Grade Complete
Questions and Answers Collection
a method of determing the true insurable worth of a structure or vehicle according to any measure that
will prvoide the most accurate analysis of that property's value - (answer)Broad Evidence Rule
an originating general lines agent placing business w/ a company w/ which he/she is not appointed -
(answer)Brokering Agent
monitors the conduct of insurers as it realtes to policyholder treatment - (answer)Bureau of Market
Conduct
insurer may cancel only for non payment of premium, material misrepresentation or fraud, or
suspension or revocation of the DL or registration of vehicle. - (answer)Cancellation after 60 days of new
policy or renewal
F.S states an insurer can cancel for any reason except discrimination with respect to race, color, national
origin, creed, marital status or sex. - (answer)Cancellation during the first 60 Days of a new policy
a company that provides risk mitigation services for its parent company - (answer)Captive Insurance
Company
specifies what perils are insured against and lists exclusions. Several different versions provide
increasingly broad coverage from Basic to Broad to special. - (answer)Causes of Loss Form
- act as an insurer - transact insurance (directly or indirectly) - solicit insurance applications If does so
w/out certificate, commits 3rd degree felony - (answer)Certificate of Authority
the head of the department of financial services, also known as the treasurer. - (answer)Chief Financial
Officer
,20-44 Personal Lines Agent Pre Exam All Sets 2026/2027 A+ Grade Complete
Questions and Answers Collection
Merged together in 2001 from FRPCJUA and FWUA to provide a market for those residential Properties
unable to obtain Coverage in Voluntary market - (answer)Citizens
lower rates for insureds who insure a high percentage of the value of the subject property -
(answer)Coinsurance
requires insured to pay part of loss if coverage is less than the specified percentage of the value of the
property at the time of loss FORMULA: Loss x (Limit of Insurance/Value of Property x Coinsurance %) =
Loss Settlement - (answer)Coinsurance Clause
Loss X Limits of insurance/value of property x coinsurance percentage = Loss Settlement -
(answer)Coinsurance Formula
- foreign or alien insurer authorized to do business in this state - during 3 fiscal years - written avg 25%+
direct premiums in this state than in state of domicile - direct premiums are 55%+ of its total premiums
written in U.S. during 3 fiscal years - (answer)Commercially Domiciled Insurer
reduces a plaintiff's damages by the plaintiff's degree of negligence - (answer)Comparative Negligence
Rule
Property and liability insurance Policies are said to be conditional contracts because the obligation OR
the insurer to perform may be condition Upon the insured satisfying Certain conditions. -
(answer)Conditional Contract
Parties are of un equal bargain power. and one party (the insured) cannot negotiate the terms. having to
take the offer of the other party (the insurer) as made - (answer)Contract of Adhesion
if one contributed to their own injuries in any way, they could not recover a dime from others -
(answer)Contributory Negligence Rule
when the majority of insurance written is for family members - (answer)Controlled Business
, 20-44 Personal Lines Agent Pre Exam All Sets 2026/2027 A+ Grade Complete
Questions and Answers Collection
money amount w/ which liability insurance is concerned. - (answer)Damages
the section of an insurance contract which shows who is insured, what property or risk is covered, when
and where coverage is effective and how much coverage applies - (answer)Declarations
physical loss to tangible property - (answer)Direct Loss
physical harm to property due to peril - (answer)Direct Loss
insurance formed under the laws of this state - (answer)Domestic Insurance Company
the state/country/providence under the laws of which the insurer was formed - (answer)Domicile
a document which is attached to the policy and modifies or changes the original policy in some way -
(answer)Endorsement
contribution based on the amount of policies regardless of their limits - (answer)Equal Shares
Employee Retirement Income Security Act - (answer)ERISA
Greek word "Ethos", personal respect, ideals of service to others in an unselfish manner - (answer)Ethics
all other insurances exhausted before the policy will apply - (answer)Excess
An endorsement that extends liability coverage, (and optionally Medical payments) to name individuals
for a nonowned automobile which is furnished for their regular use. - (answer)Extended Nonowned
Coverage
