4/22/25, 2:24 PM Florida Insurance 20-44 Exam Study
Florida Insurance 20-44 Exam Study GUIDE 2024-2025
NEWEST VERSION WITH UPDATED QUESTIONS
AND CORRECT DETAILED ANSWERS \\VERIFIED
ANSWERS \GUARANTEED PASS \GRADED A+
Terms in this set (421)
_ _____ is a contract whereby one undertakes to indemnify
insurance another or pay or
allow a specified amount or a determinable benefit
upon determinable contingencies.
casualty _ _____ insurance is insurance which pays on behalf of the
insured's legal liability.
The ____ provision broadens an insured's coverage without an
liberalization
increase in
premium when the insurer has adopted a generic global policy
revision.
severability " ______ of Interest" means insurance applies separately to each
insured.
policy A ___ is a written contract of or a written agreement for or
affecting insurance.
A homeowner with a Homeowners policy with
$40,000 $500,000 of coverage and a 2% windstorm
deductible suffers a windstorm loss of $50,000 - how
much will the insured collect on their claim?
The "Other Policy" provision which apportions
pro-rata
responsibility with each company paying in proportion
to the limit it bears in relation to all limits.
physical hazard A physical characteristic which increase the probability and
severity of loss is a....
A private passenger automobile policy has a single bodily injury
$200,000 liability limit of
$500,000 - the insured is involved in an at-fault accident
and four individuals in the other car have injuries of
$50,000 each - how much will the policy pay in total?
indirect An example of an _ loss is the loss of use of tangible property.
/ 1/41
,4/22/25, 2:24 PM Florida Insurance 20-44 Exam Study
An insured has a $250 Collision deductible on her auto policy -
$1,550 the insured hit a
large oak tree in a single vehicle accident resulting in
$1,800 in damages - how much will the insurance
company pay the insured?
Which type of deductible specifies that no payment will
franchise
be made until loss equals or exceeds a prescribed
amount; then the loss is paid in full.
Bill Williams, your insured, has failed to reveal some relevant
concealment
facts when he is
applying for insurance. What is this is considered?
/ 2/41
,4/22/25, 2:24 PM Florida Insurance 20-44 Exam Study
No notice of cancellation or non-renewal of a binder is
60
required unless a binder exceeds how many days?
Insurance contracts are considered Contracts of
insured
Adhesion. Ambiguities in the contract are
resolved in favor of the ________ _.
What is the fundamental doctrine in property insurance
proximate cause that holds that when there is an unbroken connection
between an occurrence and damage that grows out of
the occurrence, then the resulting damage is a part
of the occurrence.
Property and liability insurance policies are said to be
conditional _____________________________________ contracts because the
obligation of the insurer to perform may be conditioned
upon the insured satisfying certain conditions.
Ready Ralph Reiger, your insured, has not exercised the
negligence
degree of care to protect his neighbor from injury on
his property; this is commonly referred to as __ _.
loss Risk means the chance of financial _.
amount of loss The appraisal condition is only used to resolve issues of?
The basic definition of Actual Cash Value is
depreciation
"current cost to replace" less an allowance for
________________ _.
What amount will be paid to an insured who has an
$250,000 insurance policy with separate limits of $250,000 per
building on two buildings and a $275,000 loss occurs to
one of the buildings?
probability Physical, Moral, and Morale Hazards increase the and/or severity
of loss?
Pure Risk only a chance of loss
Speculative Risk Chance of loss or gain
A principle stating that the larger the number of similar
Law of Large Numbers
exposure units considered, the more closely the losses
reported will equal the underlying probability of loss.
_ _____ is the modification of original policy, usually adds
endorsement
coverage or conforms
to State requirement.
/ 3/41
, 4/22/25, 2:24 PM Florida Insurance 20-44 Exam Study
_ ___Precede Policy Issuance; coverage is "put into effect" PRIOR
Binders
to issuance of
policy.
oral or written Binders enable immediate change and can be ___________ __
___________
Company does not have to give notice of cancellation
60 days
or non-renewal unless Binder exceeds __________
Insurance contracts are _ that cover losses sustained by the
Personal contracts
person(s),
focus is on the person(s).
Conditional Contracts Insured has to satisfy certain conditions in order for the Insurer
to preform duties
Contract of Adhesion Insured cannot negotiate the terms or language of the contract in
a _______________________________________________ _.
Insurable Interest must exist before a policy will pay for a loss
economic interest
and is the __________________ in the preservation of
the subject.
Sally's car has been damaged by fault of Paul, her
damages total 250,000. Sally files a claim with her own
Subrogation
insurance with a split limit of 200/300, while Paul has a
single
limit of $100,000.
Sally gains $200,000 and nothing from Paul, this is called _.
Direct Loss Physical harm to tangible property is _.
Indirect _ __ Loss is the economic loss which flows as a consequence of
Direct loss.
Lender Interest Insurance also protects the collateral of creditors
Loans and Leases
who have
provided _____ to an insured such as car loans, mortgages, etc.
/ 4/41
Florida Insurance 20-44 Exam Study GUIDE 2024-2025
NEWEST VERSION WITH UPDATED QUESTIONS
AND CORRECT DETAILED ANSWERS \\VERIFIED
ANSWERS \GUARANTEED PASS \GRADED A+
Terms in this set (421)
_ _____ is a contract whereby one undertakes to indemnify
insurance another or pay or
allow a specified amount or a determinable benefit
upon determinable contingencies.
casualty _ _____ insurance is insurance which pays on behalf of the
insured's legal liability.
The ____ provision broadens an insured's coverage without an
liberalization
increase in
premium when the insurer has adopted a generic global policy
revision.
severability " ______ of Interest" means insurance applies separately to each
insured.
policy A ___ is a written contract of or a written agreement for or
affecting insurance.
A homeowner with a Homeowners policy with
$40,000 $500,000 of coverage and a 2% windstorm
deductible suffers a windstorm loss of $50,000 - how
much will the insured collect on their claim?
The "Other Policy" provision which apportions
pro-rata
responsibility with each company paying in proportion
to the limit it bears in relation to all limits.
physical hazard A physical characteristic which increase the probability and
severity of loss is a....
A private passenger automobile policy has a single bodily injury
$200,000 liability limit of
$500,000 - the insured is involved in an at-fault accident
and four individuals in the other car have injuries of
$50,000 each - how much will the policy pay in total?
indirect An example of an _ loss is the loss of use of tangible property.
/ 1/41
,4/22/25, 2:24 PM Florida Insurance 20-44 Exam Study
An insured has a $250 Collision deductible on her auto policy -
$1,550 the insured hit a
large oak tree in a single vehicle accident resulting in
$1,800 in damages - how much will the insurance
company pay the insured?
Which type of deductible specifies that no payment will
franchise
be made until loss equals or exceeds a prescribed
amount; then the loss is paid in full.
Bill Williams, your insured, has failed to reveal some relevant
concealment
facts when he is
applying for insurance. What is this is considered?
/ 2/41
,4/22/25, 2:24 PM Florida Insurance 20-44 Exam Study
No notice of cancellation or non-renewal of a binder is
60
required unless a binder exceeds how many days?
Insurance contracts are considered Contracts of
insured
Adhesion. Ambiguities in the contract are
resolved in favor of the ________ _.
What is the fundamental doctrine in property insurance
proximate cause that holds that when there is an unbroken connection
between an occurrence and damage that grows out of
the occurrence, then the resulting damage is a part
of the occurrence.
Property and liability insurance policies are said to be
conditional _____________________________________ contracts because the
obligation of the insurer to perform may be conditioned
upon the insured satisfying certain conditions.
Ready Ralph Reiger, your insured, has not exercised the
negligence
degree of care to protect his neighbor from injury on
his property; this is commonly referred to as __ _.
loss Risk means the chance of financial _.
amount of loss The appraisal condition is only used to resolve issues of?
The basic definition of Actual Cash Value is
depreciation
"current cost to replace" less an allowance for
________________ _.
What amount will be paid to an insured who has an
$250,000 insurance policy with separate limits of $250,000 per
building on two buildings and a $275,000 loss occurs to
one of the buildings?
probability Physical, Moral, and Morale Hazards increase the and/or severity
of loss?
Pure Risk only a chance of loss
Speculative Risk Chance of loss or gain
A principle stating that the larger the number of similar
Law of Large Numbers
exposure units considered, the more closely the losses
reported will equal the underlying probability of loss.
_ _____ is the modification of original policy, usually adds
endorsement
coverage or conforms
to State requirement.
/ 3/41
, 4/22/25, 2:24 PM Florida Insurance 20-44 Exam Study
_ ___Precede Policy Issuance; coverage is "put into effect" PRIOR
Binders
to issuance of
policy.
oral or written Binders enable immediate change and can be ___________ __
___________
Company does not have to give notice of cancellation
60 days
or non-renewal unless Binder exceeds __________
Insurance contracts are _ that cover losses sustained by the
Personal contracts
person(s),
focus is on the person(s).
Conditional Contracts Insured has to satisfy certain conditions in order for the Insurer
to preform duties
Contract of Adhesion Insured cannot negotiate the terms or language of the contract in
a _______________________________________________ _.
Insurable Interest must exist before a policy will pay for a loss
economic interest
and is the __________________ in the preservation of
the subject.
Sally's car has been damaged by fault of Paul, her
damages total 250,000. Sally files a claim with her own
Subrogation
insurance with a split limit of 200/300, while Paul has a
single
limit of $100,000.
Sally gains $200,000 and nothing from Paul, this is called _.
Direct Loss Physical harm to tangible property is _.
Indirect _ __ Loss is the economic loss which flows as a consequence of
Direct loss.
Lender Interest Insurance also protects the collateral of creditors
Loans and Leases
who have
provided _____ to an insured such as car loans, mortgages, etc.
/ 4/41
