FLORIDA GENERAL LINES AGENT FINAL
EXAM SCRIPT 2026 COMPLETE SOLVED
QUESTION SERIES
◉ A property valued at $100,000 is insured for $56,000 on a
property policy that has a coinsurance requirement of 80%. What
amount of the loss is payable by the insurer if there is a loss of
$20,000? The coinsurance formula is C / R x L where C is the amount
of insurance CARRIED by the insured on the property. R is the
amount of insurance coverage REQUIRED by the insurer based on
the coinsurance requirement and L is the amount of the LOSS. The
amount payable for the loss would be?
Answer: loss would be $14,000 ($56,000 / $80,000 (80% of
$100,000) x $20,000.
◉ Calculate the amount payable for a loss of $50,000 based on a
property that is valued at $200,000 and the property is insured for
$120,000 on a policy that requires a coinsurance amount of 80%?
a.$37,500 ($120,000 / $160,000 (80% of $200,000) x $50,000)
b.$10,000 (20% of $50,000)
c.$50,000 (100% of $50,000)
d.$40,000 (80% of $50,000)
,Answer: a
◉ There are 2 properties insured, property #1 has an insurance
limit of $200,000 and property #2 has a coverage amount of
$300,000. What would be the total coverage limit based on the
properties being insured on a blanket basis?
a.Each property would be insured for their coverage limits
b.$300,000 would be the blanket limit
c.$500,000 ($200,000 + $300,00)
d.$200,000 would be the blanket limit
Answer: c
◉ A property policy is insured with a standard deductible of $500
and there is a loss of $5,000. What would the insurer pay for the
loss?
Answer: $4,500 ($5,000 - $500)
◉ A property is insured with a franchise deductible of $500 and
there is a $5,000 loss. What amount of the loss would be payable by
the insurer?
Answer: $5,000 (the entire loss would be paid as the loss exceed the
deductible).
,◉ An agreement that pays on behalf of an insured as defined by the
policy or coverage the amount that the insurer is legally liable for up
to the limits of the policy is considered?
Answer: legal liability
◉ An insured auto is insured for $30,000 liability coverage that
applies to both bodily injury and property damage would be
considered as?
a.Single limit of liability
b.Total liability
c.Aggregate limit of liability
d.Split limits of liability
Answer: a
◉ John's auto is insured for 10/20/10 liability split limits. Explain
how the limits would be applied if there is an accident?
Answer: $10,000 would be the limit that would apply to any 1
person bodily injury. $20,000 would be the limit that would apply to
2 or more persons injury and $10,000 would be the limit that would
apply to the property damage.
, ◉ A policy with one limit that would apply to all losses that occur
during the policy period would be considered as what type of
liability limit?
Answer: aggregate limit of liability
◉ Liability insurance only pays for?
Answer: monetary damages,Remember liability insurance does not
cover punitive damages which are damages a court may impose on
someone due to gross negligence or willful regard for the welfare of
others
◉ What type of legal liability is imposed on a person regardless of
fault for liability such as liability for employee injury and
manufacturing of chemicals or other dangerous substances?
Answer: absolute or strict liability
◉ What type of liability may be imposed on someone for the
negligent acts of others within the person's control or supervision or
for employees acting within the scope of the authority granted?
Answer: vicarious liability
◉ The following are legal requirements for bringing a suit involving
negligence except?
EXAM SCRIPT 2026 COMPLETE SOLVED
QUESTION SERIES
◉ A property valued at $100,000 is insured for $56,000 on a
property policy that has a coinsurance requirement of 80%. What
amount of the loss is payable by the insurer if there is a loss of
$20,000? The coinsurance formula is C / R x L where C is the amount
of insurance CARRIED by the insured on the property. R is the
amount of insurance coverage REQUIRED by the insurer based on
the coinsurance requirement and L is the amount of the LOSS. The
amount payable for the loss would be?
Answer: loss would be $14,000 ($56,000 / $80,000 (80% of
$100,000) x $20,000.
◉ Calculate the amount payable for a loss of $50,000 based on a
property that is valued at $200,000 and the property is insured for
$120,000 on a policy that requires a coinsurance amount of 80%?
a.$37,500 ($120,000 / $160,000 (80% of $200,000) x $50,000)
b.$10,000 (20% of $50,000)
c.$50,000 (100% of $50,000)
d.$40,000 (80% of $50,000)
,Answer: a
◉ There are 2 properties insured, property #1 has an insurance
limit of $200,000 and property #2 has a coverage amount of
$300,000. What would be the total coverage limit based on the
properties being insured on a blanket basis?
a.Each property would be insured for their coverage limits
b.$300,000 would be the blanket limit
c.$500,000 ($200,000 + $300,00)
d.$200,000 would be the blanket limit
Answer: c
◉ A property policy is insured with a standard deductible of $500
and there is a loss of $5,000. What would the insurer pay for the
loss?
Answer: $4,500 ($5,000 - $500)
◉ A property is insured with a franchise deductible of $500 and
there is a $5,000 loss. What amount of the loss would be payable by
the insurer?
Answer: $5,000 (the entire loss would be paid as the loss exceed the
deductible).
,◉ An agreement that pays on behalf of an insured as defined by the
policy or coverage the amount that the insurer is legally liable for up
to the limits of the policy is considered?
Answer: legal liability
◉ An insured auto is insured for $30,000 liability coverage that
applies to both bodily injury and property damage would be
considered as?
a.Single limit of liability
b.Total liability
c.Aggregate limit of liability
d.Split limits of liability
Answer: a
◉ John's auto is insured for 10/20/10 liability split limits. Explain
how the limits would be applied if there is an accident?
Answer: $10,000 would be the limit that would apply to any 1
person bodily injury. $20,000 would be the limit that would apply to
2 or more persons injury and $10,000 would be the limit that would
apply to the property damage.
, ◉ A policy with one limit that would apply to all losses that occur
during the policy period would be considered as what type of
liability limit?
Answer: aggregate limit of liability
◉ Liability insurance only pays for?
Answer: monetary damages,Remember liability insurance does not
cover punitive damages which are damages a court may impose on
someone due to gross negligence or willful regard for the welfare of
others
◉ What type of legal liability is imposed on a person regardless of
fault for liability such as liability for employee injury and
manufacturing of chemicals or other dangerous substances?
Answer: absolute or strict liability
◉ What type of liability may be imposed on someone for the
negligent acts of others within the person's control or supervision or
for employees acting within the scope of the authority granted?
Answer: vicarious liability
◉ The following are legal requirements for bringing a suit involving
negligence except?
