FLORIDA GENERAL LINES TEST PAPER 2025/2026
QUESTIONS AND SOLUTIONS GRADED A+
✔✔Exemplary Damage - ✔✔Damages awarded to make an example of the wrongdoer.
✔✔Fiduciary - ✔✔Person or institution which has responsibility for the money, property
or financial affairs of another.
✔✔Proof of Loss - ✔✔• evidence offered by insured to prove entitlement to collect the
amount claimed from the insurer.
• statement, signed and sworn by the insured, setting forth the claim information
required by the policy.
✔✔Unfair Insurance Trade Practice Act - ✔✔Florida law describing certain practices
that are prohibited, such as misrepresentation, denying claims without reasonable
investigation etc.
✔✔HO-2 - ✔✔broad- least covered. Listed parils
✔✔HO-3 - ✔✔Special- Most common for single family home.
✔✔HO-4 - ✔✔Renters
✔✔HO5 - ✔✔Fantasy- don't use.
✔✔HO-6 - ✔✔Condos
✔✔HO-8, HO1 or HO2 - ✔✔Worst coverage or ho1
✔✔DP-1, 2, 3 - ✔✔Tenant- not occupied by owner or vacant.
✔✔Commercial Package Policy (CPP) - ✔✔A commercial insurance policy introduced
by ISO in an effort to simplify the packaging of the various commercial coverages.
Includes coverages for property, liability, inland marine, auto, crime, and boiler &
machinery.
✔✔Market Value - ✔✔the price at which property would sell
✔✔indemnity - ✔✔When a loss occurs, the insured should be restored to the
approximate financial condition occupied before the loss occurred, no better, no worse.
a payment for damage or loss. * should not profit
✔✔Vicarious Liability - ✔✔Legal doctrine under which a party can be held liable for the
wrongful actions of another party.
, ✔✔Subrogation - ✔✔After paying the insured, the insurance company owns any rights
against the party that caused the loss. They can try to recover what they paid you from
the other party.
Ex: if someone hits your car, your insurer will pay for the repairs but they will also try to
get that money back from the liability insurance of the person who hit you.
✔✔Duties of the insured after a loss - ✔✔- give immediate written notice
-protect property from further damage
-Provide proof of loss
✔✔Proof of Loss provision - ✔✔Policy owner has 90 days from date of loss to submit
proof of loss to Insurer; valid claim must be paid immediately upon receipt.
✔✔Office of Financial Seevices - ✔✔
✔✔Office of Insurance Regulation - ✔✔regulation, compliance, and enforcement of
statutes related to the business of insurance and the monitoring of industry markets
(regulatory oversight of company solvency, policy forms and rates, market conduct
performance, and new company entrants in the FL market
✔✔Domestic Company - ✔✔Florida
✔✔Fraternals - ✔✔is a benefit society that is an organization formed to provide
insurance benefits for members of an affiliated lodge, religious organization, or fraternal
organization with a representative form of government.
✔✔Hospital Indemnity - ✔✔Provides a specific amount on a daily, weekly, or monthly
basis while the insured is confined to a hospital
✔✔Disability Income - ✔✔*reduced rate of resume working
✔✔Insurance Commissioner - ✔✔Regulates insurance company (not agency)—
approval, citified if authority finances, policy forms and rates.
✔✔Chief Financial Officer (CFO) - ✔✔Regulates agents and adjusters, ethics,
insurances licenses.
✔✔PIP - ✔✔A coverage provided an auto policies in the state of Florida that provides
coverage for the insured own injuries on a first party basis, without regard to fault. This
is a required coverage and must be carried by all owners of motor vehicles in Florida
also known as no fault.
✔✔Policy - ✔✔Insurance contract
QUESTIONS AND SOLUTIONS GRADED A+
✔✔Exemplary Damage - ✔✔Damages awarded to make an example of the wrongdoer.
✔✔Fiduciary - ✔✔Person or institution which has responsibility for the money, property
or financial affairs of another.
✔✔Proof of Loss - ✔✔• evidence offered by insured to prove entitlement to collect the
amount claimed from the insurer.
• statement, signed and sworn by the insured, setting forth the claim information
required by the policy.
✔✔Unfair Insurance Trade Practice Act - ✔✔Florida law describing certain practices
that are prohibited, such as misrepresentation, denying claims without reasonable
investigation etc.
✔✔HO-2 - ✔✔broad- least covered. Listed parils
✔✔HO-3 - ✔✔Special- Most common for single family home.
✔✔HO-4 - ✔✔Renters
✔✔HO5 - ✔✔Fantasy- don't use.
✔✔HO-6 - ✔✔Condos
✔✔HO-8, HO1 or HO2 - ✔✔Worst coverage or ho1
✔✔DP-1, 2, 3 - ✔✔Tenant- not occupied by owner or vacant.
✔✔Commercial Package Policy (CPP) - ✔✔A commercial insurance policy introduced
by ISO in an effort to simplify the packaging of the various commercial coverages.
Includes coverages for property, liability, inland marine, auto, crime, and boiler &
machinery.
✔✔Market Value - ✔✔the price at which property would sell
✔✔indemnity - ✔✔When a loss occurs, the insured should be restored to the
approximate financial condition occupied before the loss occurred, no better, no worse.
a payment for damage or loss. * should not profit
✔✔Vicarious Liability - ✔✔Legal doctrine under which a party can be held liable for the
wrongful actions of another party.
, ✔✔Subrogation - ✔✔After paying the insured, the insurance company owns any rights
against the party that caused the loss. They can try to recover what they paid you from
the other party.
Ex: if someone hits your car, your insurer will pay for the repairs but they will also try to
get that money back from the liability insurance of the person who hit you.
✔✔Duties of the insured after a loss - ✔✔- give immediate written notice
-protect property from further damage
-Provide proof of loss
✔✔Proof of Loss provision - ✔✔Policy owner has 90 days from date of loss to submit
proof of loss to Insurer; valid claim must be paid immediately upon receipt.
✔✔Office of Financial Seevices - ✔✔
✔✔Office of Insurance Regulation - ✔✔regulation, compliance, and enforcement of
statutes related to the business of insurance and the monitoring of industry markets
(regulatory oversight of company solvency, policy forms and rates, market conduct
performance, and new company entrants in the FL market
✔✔Domestic Company - ✔✔Florida
✔✔Fraternals - ✔✔is a benefit society that is an organization formed to provide
insurance benefits for members of an affiliated lodge, religious organization, or fraternal
organization with a representative form of government.
✔✔Hospital Indemnity - ✔✔Provides a specific amount on a daily, weekly, or monthly
basis while the insured is confined to a hospital
✔✔Disability Income - ✔✔*reduced rate of resume working
✔✔Insurance Commissioner - ✔✔Regulates insurance company (not agency)—
approval, citified if authority finances, policy forms and rates.
✔✔Chief Financial Officer (CFO) - ✔✔Regulates agents and adjusters, ethics,
insurances licenses.
✔✔PIP - ✔✔A coverage provided an auto policies in the state of Florida that provides
coverage for the insured own injuries on a first party basis, without regard to fault. This
is a required coverage and must be carried by all owners of motor vehicles in Florida
also known as no fault.
✔✔Policy - ✔✔Insurance contract
