FLORIDA 2-20 AGENTS LICENSE EXAM LATEST UPDATE QUESTIONS AND CORRECT DETAILED ANSWERS

Types Of Property Policies - % Property Insurance Terms And Related Concepts - % Property Policy Provisions And Contract Law - % Types Of Casualty Policies, Bonds, And Related Terms - % Casualty Insurance Terms And Related Concepts - % Casualty Policy Provisions - % Florida Statutes, Rules, And Regulations Common To All Lines - % Florida Statutes, Rules And Regulations Pertinent To General Lines Insurance - % Florida Statutes, Rules And Regulations Pertinent To Health Insurance - % - ANSWERTypes Of Property Policies - 16% Property Insurance Terms And Related Concepts - 9% Property Policy Provisions And Contract Law - 7% Types Of Casualty Policies, Bonds, And Related Terms - 16% Casualty Insurance Terms And Related Concepts - 9% Casualty Policy Provisions - 7% Florida Statutes, Rules, And Regulations Common To All Lines - 15% Florida Statutes, Rules And Regulations Pertinent To General Lines Insurance - 15% Florida Statutes, Rules And Regulations Pertinent To Health Insurance - 6% The Florida State exam consists of _______ scored questions plus 15 pretest questions. - ANSWER- 160 You have a total of _____ hours to complete the test. - ANSWER- 3 The application must show the applicant is at least _____ years old. - ANSWER- 18The application must show the applicant is a bona fide _______ of or whose place of business is in Florida. - ANSWER- Resident The application must show the applicant will have place of business in Florida, will actively engage in the business, and maintain a place of business identifiable and ________ to the public - ANSWER- Accessible The application must show the applicant is not seeking the license for purpose of writing "____________" (more than 50% of income from business for applicant's or family's interests or other organization in which applicant is associated or interested) - ANSWER- Controlled business If the applicant has no 4-40 experience then the application must show the applicant is qualified by knowledge, experience or instruction through having successfully completed Department-approved ________ hour course within 4 years immediately preceding date of application. - ANSWER- 200 The General Lines application must show the applicant is qualified by knowledge, experience or instruction through having completed at least ________ year of responsible insurance duties as a licensed and appointed Customer Representative (4- 40) or Limited Customer Representative (4-42) in either commercial or personal lines of property and casualty insurance and a 40 hour 4-40 to 2-20 conversion course approved by the department. - ANSWER- One The Personal Lines License application must show the applicant is qualified by knowledge, experience or instruction through having successfully completed Department-approved _________ hour course within 4 years immediately preceding date of application. - ANSWER- 60 The Personal Lines license applicant must have completed at least six months within the last ________ years of responsible insurance duties as a licensed and appointed Customer Representative (4-40), Limited Customer Representative (4-42), or Service Representative (0-55) in property and casualty insurance sold to individuals and families for noncommercial purposes. - ANSWER- Four The General Lines state exam consists of _______ questions with a ______ hour time limit. - ANSWER- 160,3 For a General Lines License, the applicant the he or she is how man years of age? - ANSWER- 18 When more than 50% of an agent's income comes from business from an agent or their family, this is know as what type of business? - ANSWER- Controlled business If an agent's license has gone more than 48 months without an appointment he or she must apply once again as what? - ANSWER- First time applicantA designated customer service representative in Florida can only be appointed by who or what? - ANSWER- A general lines agent Once your adjuster license has gone beyond __________ months without an appointment, you will have to qualify as a first time applicant. - ANSWER- 48 What elected official is a member of the Florida cabinet, and serves as the head of the Department of Financial Services? - ANSWER- Chief financial officer Who directly oversees the Division of Insurance Agent and Agency Services? - ANSWER- Chief financial officer Insurance company regulation is administered by which office? - ANSWERCommission of office of insurance regulation Which office provides oversight to Florida's financial service providers? - ANSWEROffice of financial regulation ________ means the chance of financial loss. - ANSWER- Risk All insurance is designed to offset the _________ impact upon an insured of such losses. - ANSWER- Financial _________ means a written contract of or written agreement for or effecting insurance, or the certificate thereof, by whatever name called, and includes all clauses, riders, endorsements and papers which are a part thereof. - ANSWER- Insurance policy __________ is a contract whereby one undertakes to indemnify another or pay or allow a specified amount or a determinable benefit upon determinable contingencies. - ANSWER- Insurance The elements that constitute the consideration for a valid insurance contract are the _________ and agreement to the terms and conditions in the policy by both the insurer and the insured - ANSWER- Premium A _______ policy is one that for a given coverage is substantially like the policies written by all or a majority of companies in the field. - ANSWER- Standard A __________ policy's wording is standardized through state law. - ANSWERStatutory An insurance _________ must be written to constitute a policy. - ANSWERArrangement Temporary insurance is effected through _________. - ANSWER- BindersBinders or other contracts for temporary property, marine, casualty or surety insurance may be made . - ANSWER- Orally An insurer shall give days prior notice of cancellation of a binder, unless the binder is replaced by a policy or another binder in the same or another company. - ANSWER- 5 _______ Insurance means any insurance wherein payment by the insurer will be paid directly to the insured or other specifically named interests. - ANSWER- Property ________Insurance means payment will be on behalf of the insured to another, based upon the insured's liability to the recipient. - ANSWER- Liability Property and Liability insurance policies cover _________ , not property or operations. - ANSWER- Persons