FLORIDA PROPERTY & CASUALITY
INSURANCE,GLOSSARY FOR 220 LICENSE
NEWEST 2025 ACTUAL TEST BANK EXAM
COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
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Terms in this set (1111)
Homeowners HO-3 policy $29,000 less any deductible
- severe theft loss.
Coverage A 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 The Division of Consumer Activities
divisions falls under The
Department of Financial
Services EXCEPT?
,Which of the following Outside the Premises
provides for loss of money
and 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 $500
Perils deductible in the
Commercial Property
Policy?
Under a Personal Articles Fine Arts
Floater, which of the
following is covered as
valued property?
Under the Dwelling 60 days
Program forms, vandalism
is not covered after the
building has been vacant
for how many days?
Under a Commercial 10
General Liability Contract,
how many days notice of
cancellation must the
insurer provide for non-
payment of premium?
,Under Additional $1,000
Coverages, how much
applies for loss
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 Loss Settlement Contract
characteristics of a
Property or Liability
Insurance Contract
EXCEPT:
Rob has PIP with a $1,000 $4,000
deductible. He has an - $6,000 - $1,000 deductible = $5,000 x 80% = $4,000
auto accident causing
$6,000 in medical bills.
How much will his PIP
pay?
QRS Construction Bid bond
Company wants to - The Bid Bond is required to accompany a bid for a
provide the local school contract which will require that the successful bidder
district with a price for furnish further bond if awarded the job. The guarantee
building a new grammar is that if the bid is accepted, the bidder will enter into
school. In order to accept the contract and will satisfy further bonding
the price, the school requirements for the job
board needs a bond that
would pay the difference
between QRS's price and
the next highest price.
What kind of bond does
QRS need to provide to
the school district?
, Which of the following Payment Bond
guarantees the payment
of materials in full upon
completion of the work?
Which of the following II and III only
events would be covered
under an 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 Exhibits
located on a Boiler and
Machinery Coverage form
EXCEPT:
The Motor Truck Cargo Insures a truck carrier for liability arising out of the
Policy: transportation of cargo.
All of the following are Firearms
types of property that can
be covered under a
Personal Articles Floater
EXCEPT:
What is the standard $500
deductible for Employee
Theft coverage?
INSURANCE,GLOSSARY FOR 220 LICENSE
NEWEST 2025 ACTUAL TEST BANK EXAM
COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW!
Save
Terms in this set (1111)
Homeowners HO-3 policy $29,000 less any deductible
- severe theft loss.
Coverage A 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 The Division of Consumer Activities
divisions falls under The
Department of Financial
Services EXCEPT?
,Which of the following Outside the Premises
provides for loss of money
and 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 $500
Perils deductible in the
Commercial Property
Policy?
Under a Personal Articles Fine Arts
Floater, which of the
following is covered as
valued property?
Under the Dwelling 60 days
Program forms, vandalism
is not covered after the
building has been vacant
for how many days?
Under a Commercial 10
General Liability Contract,
how many days notice of
cancellation must the
insurer provide for non-
payment of premium?
,Under Additional $1,000
Coverages, how much
applies for loss
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 Loss Settlement Contract
characteristics of a
Property or Liability
Insurance Contract
EXCEPT:
Rob has PIP with a $1,000 $4,000
deductible. He has an - $6,000 - $1,000 deductible = $5,000 x 80% = $4,000
auto accident causing
$6,000 in medical bills.
How much will his PIP
pay?
QRS Construction Bid bond
Company wants to - The Bid Bond is required to accompany a bid for a
provide the local school contract which will require that the successful bidder
district with a price for furnish further bond if awarded the job. The guarantee
building a new grammar is that if the bid is accepted, the bidder will enter into
school. In order to accept the contract and will satisfy further bonding
the price, the school requirements for the job
board needs a bond that
would pay the difference
between QRS's price and
the next highest price.
What kind of bond does
QRS need to provide to
the school district?
, Which of the following Payment Bond
guarantees the payment
of materials in full upon
completion of the work?
Which of the following II and III only
events would be covered
under an 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 Exhibits
located on a Boiler and
Machinery Coverage form
EXCEPT:
The Motor Truck Cargo Insures a truck carrier for liability arising out of the
Policy: transportation of cargo.
All of the following are Firearms
types of property that can
be covered under a
Personal Articles Floater
EXCEPT:
What is the standard $500
deductible for Employee
Theft coverage?
