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FLORIDA 2-20 AGENTS LICENSE EXAM
|COMPREHENSIVE Q&A FOR CERTIFICATION
SUCCESS 2026
Adam and his insurer disagree on the amount of a loss covered by his home
owners policy. Adam wants the insurer to pay $10,000 toward the loss. The
insurer's representative feels that the loss should be valued at $5,000. How could
the appraisal process resolve this situation? - correct-answer - Adam and the
insurer will each select an appraiser, and the two appraisers will submit their
differences to an impartial umpire who will reach a resolution.
Which one of the following has special limits of liability within Coverage C of the
HO-3—Special Form (HO-3)? - correct-answer - Theft of firearms
A storm causes power lines to break ten miles from the insured's premises. The
loss of electrical power causes food in the insured's freezer to thaw and spoil.
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Coverage for this loss is - correct-answer - Excluded because the power failure
occurred off the residence premises.
If law enforcement officials seize an insured's personal computer to search for
files that might be related to a crime, the insured under an HO-3—Special Form
(HO-3) may be unsuccessful in claiming a theft loss on the computer due to the -
correct-answer - Governmental Action exclusion.
Sam and Sophia insure their house with an unendorsed HO-3—Special Form (HO-
3) policy. Sam stores a small fishing boat and trailer behind the house. While they
are out for the evening, a fire destroys most of their kitchen and completely
destroys the boat and trailer. Assuming Sam's boat and trailer are valued at
$4,000 and ignoring any deductible that may apply, what amount will their HO-3
insurer pay for the loss of the boat and trailer? - correct-answer - $1,500
The Florida Valued Policy Law applies to: - correct-answer - mobile homes
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For a Dwelling Flood policy, which is correct: - correct-answer - Primary
residences are covered at replacement cost on building losses.
Sally insures her house with an unendorsed HO-3—Special Form (HO-3) with a
Coverage A—Dwelling limit of $275,000, which is the replacement cost of the
house. A fire destroys the house including a collection of blueprints belonging to
Sally's employer, valued at $10,000. Sally was storing the blueprints at her home
while her office was changing locations. Assuming no deductible applies, how
much, if any, will Sally's HO-3 insurer pay to replace the blueprints? - correct-
answer - $0
One of the main factors used in developing a base premium for a homeowners
policy is - correct-answer - The public protection class.
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Bert and Maggie insure their house with an unendorsed HO-3—Special Form (HO-
3) with a Coverage A—Dwelling limit of $300,000, which is the replacement cost
of the house. A fire destroys their detached garage. The cost to replace the garage
is $35,000. Ignoring any deductible that may apply, how much will Bert and
Maggie's insurer pay to replace the detached garage? - correct-answer - $30,000
Coverage for other structures is automatically provided under the HO-3—Special
Form (HO-3) policy with a limit that is - correct-answer - 10 percent of the
Coverage A limit
Renee is an insured under an unendorsed HO-3—Special Form (HO-3) with a
Coverage C—Personal Property limit of $100,000. She owns a secondary
residence that contains $15,000 of personal property. Only her primary residence
is listed on the declarations page of the HO-3 policy. A fire destroys all of Renee's
personal property at her secondary residence. How much of this loss will be paid
by Renee's HO-3 policy? - correct-answer - $10,000
FLORIDA 2-20 AGENTS LICENSE EXAM
|COMPREHENSIVE Q&A FOR CERTIFICATION
SUCCESS 2026
Adam and his insurer disagree on the amount of a loss covered by his home
owners policy. Adam wants the insurer to pay $10,000 toward the loss. The
insurer's representative feels that the loss should be valued at $5,000. How could
the appraisal process resolve this situation? - correct-answer - Adam and the
insurer will each select an appraiser, and the two appraisers will submit their
differences to an impartial umpire who will reach a resolution.
Which one of the following has special limits of liability within Coverage C of the
HO-3—Special Form (HO-3)? - correct-answer - Theft of firearms
A storm causes power lines to break ten miles from the insured's premises. The
loss of electrical power causes food in the insured's freezer to thaw and spoil.
,2|Page
Coverage for this loss is - correct-answer - Excluded because the power failure
occurred off the residence premises.
If law enforcement officials seize an insured's personal computer to search for
files that might be related to a crime, the insured under an HO-3—Special Form
(HO-3) may be unsuccessful in claiming a theft loss on the computer due to the -
correct-answer - Governmental Action exclusion.
Sam and Sophia insure their house with an unendorsed HO-3—Special Form (HO-
3) policy. Sam stores a small fishing boat and trailer behind the house. While they
are out for the evening, a fire destroys most of their kitchen and completely
destroys the boat and trailer. Assuming Sam's boat and trailer are valued at
$4,000 and ignoring any deductible that may apply, what amount will their HO-3
insurer pay for the loss of the boat and trailer? - correct-answer - $1,500
The Florida Valued Policy Law applies to: - correct-answer - mobile homes
,3|Page
For a Dwelling Flood policy, which is correct: - correct-answer - Primary
residences are covered at replacement cost on building losses.
Sally insures her house with an unendorsed HO-3—Special Form (HO-3) with a
Coverage A—Dwelling limit of $275,000, which is the replacement cost of the
house. A fire destroys the house including a collection of blueprints belonging to
Sally's employer, valued at $10,000. Sally was storing the blueprints at her home
while her office was changing locations. Assuming no deductible applies, how
much, if any, will Sally's HO-3 insurer pay to replace the blueprints? - correct-
answer - $0
One of the main factors used in developing a base premium for a homeowners
policy is - correct-answer - The public protection class.
, 4|Page
Bert and Maggie insure their house with an unendorsed HO-3—Special Form (HO-
3) with a Coverage A—Dwelling limit of $300,000, which is the replacement cost
of the house. A fire destroys their detached garage. The cost to replace the garage
is $35,000. Ignoring any deductible that may apply, how much will Bert and
Maggie's insurer pay to replace the detached garage? - correct-answer - $30,000
Coverage for other structures is automatically provided under the HO-3—Special
Form (HO-3) policy with a limit that is - correct-answer - 10 percent of the
Coverage A limit
Renee is an insured under an unendorsed HO-3—Special Form (HO-3) with a
Coverage C—Personal Property limit of $100,000. She owns a secondary
residence that contains $15,000 of personal property. Only her primary residence
is listed on the declarations page of the HO-3 policy. A fire destroys all of Renee's
personal property at her secondary residence. How much of this loss will be paid
by Renee's HO-3 policy? - correct-answer - $10,000
