Florida Insurance Exam 2025/2026 Exam
Questions with 100% Correct Answers |
Latest Update
Risk - 🧠 ANSWER ✔✔the chance of financial loss
Risk is NOT the loss itself, but the _________ of loss. - 🧠 ANSWER
✔✔CHANCE
Policy - 🧠 ANSWER ✔✔a written contract for effecting insurance and
includes Clauses, Riders, endorsements, and papers which are part of the
contract
Insurance - 🧠 ANSWER ✔✔a contract where one undertakes to indemnify
another or pay a specific amount determined on contingencies
,Binders - 🧠 ANSWER ✔✔temporary insurance which can be made orally or
written
property insurance - 🧠 ANSWER ✔✔where payment is made directly to the
insured or other named interest
liability insurance - 🧠 ANSWER ✔✔where payment is made on behalf of the
insured to another
Indemnity contract - 🧠 ANSWER ✔✔one-party should be put back in the
same Financial condition they were before the loss. Never profit from A
Loss.
replacement cost - 🧠 ANSWER ✔✔given new for old
agreed value - 🧠 ANSWER ✔✔specific amount agreed in advance
Florida value policy law - 🧠 ANSWER ✔✔paid limit for total loss
liability - 🧠 ANSWER ✔✔pays amount that exceeds insured's resources
insurable interest - 🧠 ANSWER ✔✔insured would suffer economic loss
peril - 🧠 ANSWER ✔✔a contingency that may cause a loss example Wind,
Fire, theft
, hazard - 🧠 ANSWER ✔✔a condition that increases the likelihood of a loss
from a covered peril
physical hazard - 🧠 ANSWER ✔✔physical characteristics that increase the
probability and severity of loss example ice-covered steps
moral hazard - 🧠 ANSWER ✔✔intentional loss
example steal from employer
Morale hazard - 🧠 ANSWER ✔✔accident prone or carelessness example
did not lock the car door
proximate cause - 🧠 ANSWER ✔✔root cause
a doctrine that states when there is an unbroken connection between An
Occurrence and damage that grows out of the occurrence, then the
resultant damage is all part of the occurrence.
direct loss - 🧠 ANSWER ✔✔physical harm to tangible property
indirect loss - 🧠 ANSWER ✔✔economic loss which flows as a consequence
of the direct loss
example hotel stay after a fire
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
Questions with 100% Correct Answers |
Latest Update
Risk - 🧠 ANSWER ✔✔the chance of financial loss
Risk is NOT the loss itself, but the _________ of loss. - 🧠 ANSWER
✔✔CHANCE
Policy - 🧠 ANSWER ✔✔a written contract for effecting insurance and
includes Clauses, Riders, endorsements, and papers which are part of the
contract
Insurance - 🧠 ANSWER ✔✔a contract where one undertakes to indemnify
another or pay a specific amount determined on contingencies
,Binders - 🧠 ANSWER ✔✔temporary insurance which can be made orally or
written
property insurance - 🧠 ANSWER ✔✔where payment is made directly to the
insured or other named interest
liability insurance - 🧠 ANSWER ✔✔where payment is made on behalf of the
insured to another
Indemnity contract - 🧠 ANSWER ✔✔one-party should be put back in the
same Financial condition they were before the loss. Never profit from A
Loss.
replacement cost - 🧠 ANSWER ✔✔given new for old
agreed value - 🧠 ANSWER ✔✔specific amount agreed in advance
Florida value policy law - 🧠 ANSWER ✔✔paid limit for total loss
liability - 🧠 ANSWER ✔✔pays amount that exceeds insured's resources
insurable interest - 🧠 ANSWER ✔✔insured would suffer economic loss
peril - 🧠 ANSWER ✔✔a contingency that may cause a loss example Wind,
Fire, theft
, hazard - 🧠 ANSWER ✔✔a condition that increases the likelihood of a loss
from a covered peril
physical hazard - 🧠 ANSWER ✔✔physical characteristics that increase the
probability and severity of loss example ice-covered steps
moral hazard - 🧠 ANSWER ✔✔intentional loss
example steal from employer
Morale hazard - 🧠 ANSWER ✔✔accident prone or carelessness example
did not lock the car door
proximate cause - 🧠 ANSWER ✔✔root cause
a doctrine that states when there is an unbroken connection between An
Occurrence and damage that grows out of the occurrence, then the
resultant damage is all part of the occurrence.
direct loss - 🧠 ANSWER ✔✔physical harm to tangible property
indirect loss - 🧠 ANSWER ✔✔economic loss which flows as a consequence
of the direct loss
example hotel stay after a fire
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
