FLORIDA 2-20 AGENTS LICENSE EXAM REAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS LATEST UPDATE 2023/2024

Duties of the Officer of Insurance Regulation: - ANSWER- Approve policy forms Approve policy rules Approve qualifications of insurance companies An alternate method of insuring where a single amount is applied to two or more coverage items and the full amount is available to apply to any item is called: - ANSWER- Blanket When the insurer agrees to pay on behalf of the insured all the sums the insured is legally obligated to pay is called: - ANSWER- Third party claim The failure to exercise a degree of care that the law requires to protect others from harm is called: - ANSWER- Negligence All of the following are the insured's duties following a property policy loss: - ANSWERUse reasonable means to protect from further loss Report thefts to the police Reveal any other insurance that exists All of the following are the insured's duties following a liability claim: - ANSWER- Aid the insurer in settlements Avoid voluntary payments Notify the insurer of names and addresses of claimants and witnesses When an insured's rights to collect damages is transferred to the insurer this is called: - ANSWER- Subrogation Eligible types of vehicles under the PAP has to have a Gross Weight of less than: - ANSWER- 10,000 pounds The PAP definition of "Your covered auto" includes all the following: - ANSWER- Any trailer you own A newly acquired auto Any vehicle in the Declaration Jeff purchases a new auto. How many days does Jeff have to ask the insurer to cover the auto for collision coverage? - ANSWER- 14 days All of the following have the status of "Insured" under Part A-Liability: - ANSWER- Any person using your covered autoAny trailer other than you covered auto Anyone legally responsible for y