Florida Property & Casualty Insurance - Practice Questions & Verified Answers
FAJUA is composed of: All companies licensed to write auto insurance in Florida
A coverage that is similar to premises and operations Airport and Air Meet Liability
coverage in the Commercial General Liability Policy
covering bodily injury and property damage liability for
aviation risks is defined as:
Homeowners HO-3 policy - severe theft loss. Coverage A $29,000 less any deductible
limit is $100,000. Insured losses include $25,000 furniture,
clothing and other ordinary personal property plus $5,000
damage to guns and $5,000 damage to jewelry, furs.
Insured will recover:
Each of the following divisions falls under The Department The Division of Consumer Activities
of Financial Services EXCEPT?
Which of the following provides for loss of money and Outside the Premises
securities outside the premises in the care, custody and
control of a messenger or armored car service resulting
from theft, disappearance, or destruction?
What is the standard All Perils deductible in the $500
Commercial Property Policy?
Which of the following best describes a "Controlled" Inland Standard provisions form is written according to filed rules and rates
Marine Form?
Under a Personal Articles Floater, which of the following is Fine Arts
covered as valued property?
Under the Dwelling Program forms, vandalism is not 60 days
covered after the building has been vacant for how many
days?
Under a Commercial General Liability Contract, how many 10
days notice of cancellation must the insurer provide for
non-payment of premium?
Under Additional Coverages, how much applies for loss $1,000
assessments imposed by an association against the
insured for damage to property caused by a peril insured
against under Coverage A?
The following are basic characteristics of a Property or Loss Settlement Contract
Liability Insurance Contract EXCEPT:
Rob has PIP with a $1,000 deductible. He has an auto $4,000
accident causing $6,000 in medical bills. How much will his - $6,000 - $1,000 deductible = $5,000 x 80% = $4,000
PIP pay?
2026-2027 | Stuvia Edition
, Florida Property & Casualty Insurance - Practice Questions & Verified Answers
QRS Construction Company wants to provide the local Bid bond
school district with a price for building a new grammar - The Bid Bond is required to accompany a bid for a contract which will require that
school. In order to accept the price, the school board the successful bidder furnish further bond if awarded the job. The guarantee is that
needs a bond that would pay the difference between if the bid is accepted, the bidder will enter into the contract and will satisfy further
QRS's price and the next highest price. What kind of bond bonding requirements for the job
does QRS need to provide to the school district?
Which of the following guarantees the payment of Payment Bond
materials in full upon completion of the work?
Which of the following events would be covered under an II and III only
HO-3? I. A sewer line became clogged and the toilet in the
house backed up and overflowed, damaging the carpet. II.
Wind blew a front door open and rain damaged the carpet.
III. The neighbor's German Shepard damaged the garage
doorframe while trying to get in the insured's garage to eat
the dog food stored there.
All of the following are located on a Boiler and Machinery Exhibits
Coverage form EXCEPT:
The Motor Truck Cargo Policy: Insures a truck carrier for liability arising out of the transportation of cargo.
All of the following are types of property that can be Firearms
covered under a Personal Articles Floater EXCEPT:
What is the standard deductible for Employee Theft $500
coverage?
The Forgery or Alteration coverage under a $2,000
Businessowners Policy is:
How many hours of continuing education is a newly 24
licensed agent required to have for their first Continuing
Education compliance period?
Which of the following is NOT true regarding sole A maximum of three can elect to be covered
proprietors and partners in the non-construction industry
as they relate to Workers Compensation?
Which of the following is not a way to purchase Uninsured More than your bodily injury limits
Motorist Coverage?
Camden's Wood Shop will be dropping off new cabinets at Installation Floater
a jobsite on Monday, but will not actually install them until
Tuesday. What kind of policy will they need to cover any
loss to the cabinets?
This Hospital Form applies with "medical incident" defined Blood Banks
as an act or omission in furnishing of professional services
related to making of a blood donation under the
supervision of the insured:
2026-2027 | Stuvia Edition
, Florida Property & Casualty Insurance - Practice Questions & Verified Answers
Which of the following is not a valid deductible for 1%
hurricane in the Dwelling program?
If a loss occurs under the Building and Personal Property 180
Coverage Form with the optional replacement cost
provision, how long does the insured have to give intent to
replace the damaged item in order to receive replacement
cost adjustment?
Which of the following is NOT a common deductible in an 2%
Aircraft Hull Policy?
How many insuring agreements are there in a Commercial 7
Crime Policy?
Barry was driving his car in Florida where he has lived all $2,800
his life when he is hit by an at-fault driver. Barry has - $10,000 - $1,000 = $9,000 x 80% = $7,200, the amount paid out by PIP. Barry can
$10,000 in medical bills, basic PIP with a $1,000 hold the at-fault driver responsible for the difference of PIPs maximum limit of
deductible and no medical payments coverage. How much $10,000 and the $7,200, which is $2,800
will the at-fault driver have to pay for Barry's injuries?
During a break-in at a business, the safe is removed from Safe Burglary
the location. This is defined as:
The Boiler and Machinery Policy provides automatic 90 days
coverage for boilers at newly acquired locations for:
Which of the following statements is false regarding Co- Subject to a minimum amount
Payment:
Which statement below best describes the insured's Insured can sue for the economic loss not paid or payable under PIP; no suit for
position under the Florida No-Fault Law when the total intangible damages such as pain and suffering
medical and work loss bill exceeds the PIP benefits without
exceeding a threshold?
Established in 1973, this association was created for FAJUA
applicants who are unable to obtain automobile insurance
in the private market:
The typical coverage for rental reimbursement on a $15 per day/$75 maximum
Mechanical Breakdown policy is:
Which of the following is not a type of insurance that can Life insurance written by carrier who is also represented for Property and Casualty
be transacted with a "General Lines" insurance license?
Another name for a "Cost Plus" plan is: Retrospective Rating Plan
What amount applies to Business Personal Property other $5,000
than "Money and Securities," "Valuable Papers and
Records" and "Accounts Receivable" while off premises?
2026-2027 | Stuvia Edition
, Florida Property & Casualty Insurance - Practice Questions & Verified Answers
This program provides comprehensive health services to HMO
members for a prepaid fixed fee with a goal of preventive
activity:
The Retroactive Date: Establishes the date when claims made coverage begins
This endorsement will extend liability insurance and any Individual Named Insured
physical damage insurance to cover the insured while
driving a non-owned vehicle:
Trey has a collection of rare foreign coins, which are $300
stolen. His Crime Policy provides coverage for these coins - Money is valued at its face value
as part of his business property. The collectible value of
the coins is $5,000; the monetary value of the coins is
$300. Assuming there is no deductible, how much will
Trey's policy pay?
Which of the following is not an eligibility requirement for 25% mercantile floor area
the RCBAP Flood Policy?
All of the following are covered under Personal and Bodily Injury
Advertising Injury EXCEPT:
This bond is required of investment companies Blue Sky Bond
guaranteeing against misrepresentation of Securities:
All of the following coverages can be added to the Liability
Business Auto Coverage Form by separate endorse¬ment
EXCEPT:
Which of the following is NOT a benefit under PIP? Replacement services paid at 10%
Luigi purchases a money order to make his car payment. Lost Instrument Bond
The money order never makes it to the finance company
and he has to replace it. What type of bond will the
company need in order to replace the money order?
Which of the following pays the principal sum for death or Admitted Aircraft Liability
dismemberment if the named insured requests it and the
company is released from further liability?
The insurer must give how many days written notice of the 120
nonrenewal, cancellation, or termination?
The typical grace periods in Health Insurance for weekly, 7-10-31
monthly, and all other premium payments are:
Which of the following covers the liability of a common Motor Truck Cargo Policy
carrier for damage to property of others?
2026-2027 | Stuvia Edition
FAJUA is composed of: All companies licensed to write auto insurance in Florida
A coverage that is similar to premises and operations Airport and Air Meet Liability
coverage in the Commercial General Liability Policy
covering bodily injury and property damage liability for
aviation risks is defined as:
Homeowners HO-3 policy - severe theft loss. Coverage A $29,000 less any deductible
limit is $100,000. Insured losses include $25,000 furniture,
clothing and other ordinary personal property plus $5,000
damage to guns and $5,000 damage to jewelry, furs.
Insured will recover:
Each of the following divisions falls under The Department The Division of Consumer Activities
of Financial Services EXCEPT?
Which of the following provides for loss of money and Outside the Premises
securities outside the premises in the care, custody and
control of a messenger or armored car service resulting
from theft, disappearance, or destruction?
What is the standard All Perils deductible in the $500
Commercial Property Policy?
Which of the following best describes a "Controlled" Inland Standard provisions form is written according to filed rules and rates
Marine Form?
Under a Personal Articles Floater, which of the following is Fine Arts
covered as valued property?
Under the Dwelling Program forms, vandalism is not 60 days
covered after the building has been vacant for how many
days?
Under a Commercial General Liability Contract, how many 10
days notice of cancellation must the insurer provide for
non-payment of premium?
Under Additional Coverages, how much applies for loss $1,000
assessments imposed by an association against the
insured for damage to property caused by a peril insured
against under Coverage A?
The following are basic characteristics of a Property or Loss Settlement Contract
Liability Insurance Contract EXCEPT:
Rob has PIP with a $1,000 deductible. He has an auto $4,000
accident causing $6,000 in medical bills. How much will his - $6,000 - $1,000 deductible = $5,000 x 80% = $4,000
PIP pay?
2026-2027 | Stuvia Edition
, Florida Property & Casualty Insurance - Practice Questions & Verified Answers
QRS Construction Company wants to provide the local Bid bond
school district with a price for building a new grammar - The Bid Bond is required to accompany a bid for a contract which will require that
school. In order to accept the price, the school board the successful bidder furnish further bond if awarded the job. The guarantee is that
needs a bond that would pay the difference between if the bid is accepted, the bidder will enter into the contract and will satisfy further
QRS's price and the next highest price. What kind of bond bonding requirements for the job
does QRS need to provide to the school district?
Which of the following guarantees the payment of Payment Bond
materials in full upon completion of the work?
Which of the following events would be covered under an II and III only
HO-3? I. A sewer line became clogged and the toilet in the
house backed up and overflowed, damaging the carpet. II.
Wind blew a front door open and rain damaged the carpet.
III. The neighbor's German Shepard damaged the garage
doorframe while trying to get in the insured's garage to eat
the dog food stored there.
All of the following are located on a Boiler and Machinery Exhibits
Coverage form EXCEPT:
The Motor Truck Cargo Policy: Insures a truck carrier for liability arising out of the transportation of cargo.
All of the following are types of property that can be Firearms
covered under a Personal Articles Floater EXCEPT:
What is the standard deductible for Employee Theft $500
coverage?
The Forgery or Alteration coverage under a $2,000
Businessowners Policy is:
How many hours of continuing education is a newly 24
licensed agent required to have for their first Continuing
Education compliance period?
Which of the following is NOT true regarding sole A maximum of three can elect to be covered
proprietors and partners in the non-construction industry
as they relate to Workers Compensation?
Which of the following is not a way to purchase Uninsured More than your bodily injury limits
Motorist Coverage?
Camden's Wood Shop will be dropping off new cabinets at Installation Floater
a jobsite on Monday, but will not actually install them until
Tuesday. What kind of policy will they need to cover any
loss to the cabinets?
This Hospital Form applies with "medical incident" defined Blood Banks
as an act or omission in furnishing of professional services
related to making of a blood donation under the
supervision of the insured:
2026-2027 | Stuvia Edition
, Florida Property & Casualty Insurance - Practice Questions & Verified Answers
Which of the following is not a valid deductible for 1%
hurricane in the Dwelling program?
If a loss occurs under the Building and Personal Property 180
Coverage Form with the optional replacement cost
provision, how long does the insured have to give intent to
replace the damaged item in order to receive replacement
cost adjustment?
Which of the following is NOT a common deductible in an 2%
Aircraft Hull Policy?
How many insuring agreements are there in a Commercial 7
Crime Policy?
Barry was driving his car in Florida where he has lived all $2,800
his life when he is hit by an at-fault driver. Barry has - $10,000 - $1,000 = $9,000 x 80% = $7,200, the amount paid out by PIP. Barry can
$10,000 in medical bills, basic PIP with a $1,000 hold the at-fault driver responsible for the difference of PIPs maximum limit of
deductible and no medical payments coverage. How much $10,000 and the $7,200, which is $2,800
will the at-fault driver have to pay for Barry's injuries?
During a break-in at a business, the safe is removed from Safe Burglary
the location. This is defined as:
The Boiler and Machinery Policy provides automatic 90 days
coverage for boilers at newly acquired locations for:
Which of the following statements is false regarding Co- Subject to a minimum amount
Payment:
Which statement below best describes the insured's Insured can sue for the economic loss not paid or payable under PIP; no suit for
position under the Florida No-Fault Law when the total intangible damages such as pain and suffering
medical and work loss bill exceeds the PIP benefits without
exceeding a threshold?
Established in 1973, this association was created for FAJUA
applicants who are unable to obtain automobile insurance
in the private market:
The typical coverage for rental reimbursement on a $15 per day/$75 maximum
Mechanical Breakdown policy is:
Which of the following is not a type of insurance that can Life insurance written by carrier who is also represented for Property and Casualty
be transacted with a "General Lines" insurance license?
Another name for a "Cost Plus" plan is: Retrospective Rating Plan
What amount applies to Business Personal Property other $5,000
than "Money and Securities," "Valuable Papers and
Records" and "Accounts Receivable" while off premises?
2026-2027 | Stuvia Edition
, Florida Property & Casualty Insurance - Practice Questions & Verified Answers
This program provides comprehensive health services to HMO
members for a prepaid fixed fee with a goal of preventive
activity:
The Retroactive Date: Establishes the date when claims made coverage begins
This endorsement will extend liability insurance and any Individual Named Insured
physical damage insurance to cover the insured while
driving a non-owned vehicle:
Trey has a collection of rare foreign coins, which are $300
stolen. His Crime Policy provides coverage for these coins - Money is valued at its face value
as part of his business property. The collectible value of
the coins is $5,000; the monetary value of the coins is
$300. Assuming there is no deductible, how much will
Trey's policy pay?
Which of the following is not an eligibility requirement for 25% mercantile floor area
the RCBAP Flood Policy?
All of the following are covered under Personal and Bodily Injury
Advertising Injury EXCEPT:
This bond is required of investment companies Blue Sky Bond
guaranteeing against misrepresentation of Securities:
All of the following coverages can be added to the Liability
Business Auto Coverage Form by separate endorse¬ment
EXCEPT:
Which of the following is NOT a benefit under PIP? Replacement services paid at 10%
Luigi purchases a money order to make his car payment. Lost Instrument Bond
The money order never makes it to the finance company
and he has to replace it. What type of bond will the
company need in order to replace the money order?
Which of the following pays the principal sum for death or Admitted Aircraft Liability
dismemberment if the named insured requests it and the
company is released from further liability?
The insurer must give how many days written notice of the 120
nonrenewal, cancellation, or termination?
The typical grace periods in Health Insurance for weekly, 7-10-31
monthly, and all other premium payments are:
Which of the following covers the liability of a common Motor Truck Cargo Policy
carrier for damage to property of others?
2026-2027 | Stuvia Edition
