Florida Test Study Guide - Public Adjusting 3-20 Questions with 100% Correct Answers

Those who are eligible for coverage under the Florida Automobile Joint Underwriting Association are? Correct Answer Military Personnel A non-resident owning an automobile in Florida A non-resident subject to Florida no-fault law A forcible entry into locked premises and the carrying away of the property of others is a definition of: Correct Answer Burglary The inland marine coverage form that covers clothing, cameras and other portable property worn and carried by tourists and travelers is a: Correct Answer Personal effects floater A residual market to alleviate the temporary unavailability of property insurance coverage in significant portions of Florida (e.g. homeowners face non-renewal or cancellations) Correct Answer Residential Property & Casualty Joint Underwriting Association for property owners. What does the property insurance term "improvements and betterment" apply to? Correct Answer Real Property The penalty imposed upon a Florida licensee who violates a cease and desists order issued by the CFO: Correct Answer $50,000 Fine What is amount is personal property used for business purposes, under a Homeowners policy covered up to Correct Answer up to $2500 on premises up to $1500 off premises If a replacement costs exists, but the insured has a policy for only 50% of the replacement cost, what percentage will the insured received for the loss? Correct Answer 50% of the settlement amount A statement that is believed to be true when made, which my prove to be false. Correct Answer Representation A statement that is guaranteed to be correct: Correct Answer Warranty When can an insured cancel his/her policy? Correct Answer At any time. In Florida, how many days in advance of a premium due date must an auto insurer provide notice of renewal to an insured? Correct Answer 30 days written notice