2-20 Florida General Lines Study Exam Questions With Verified Answers

2-20 Florida General Lines Study Exam Questions With Verified Answers Hazard - answerCondition that introduces or increases the likelihood of loss from a peril Franchise Deductible - answerNo payments made unless the loss equals or exceeds prescribed amount, then loss paid in full Misrepresentation - answerUntrue statement made by insured Liability Insurance - answerInsurance paid to others on insured's behalf Valued Policy Law - answerTotal loss by insured peril to a building, structure, mobile home or manufactured hosing unit, the insurer must pay amount provided in policy for which premium has been paid. Loss Settlement - answerActual Cash Value, Replacement Cost, Valued Policy, and Valued Policy Law are considered Insurance - answerContract whereby one undertakes to indemnify another or pay a specified amount upon certain conditions Percentage Deductible - answerDeductions from the loss of a percentage of the value of the property