Florida Property & Casualty Insurance
$30,000 - ANSWER A combined single limit that will pay for liability and property damages
up to the stated amount.
10/20/10 limit breakdown - ANSWER 10 = $10,000 Liability per person injured -- If only one
person is injured, this is the most that will pay out.
20 = $20,000 COMBINED TOTAL Liability for all injuries -- If 2 or more persons are injured, this is the
most that will pay out.
10 = $10,000 Property Damage
3 eligibility requirements for the RCBAP flood policy - ANSWER one or more residential
units, 25% mercantile floor area, 75% owner occupied.
3 optional coverages under Building and Personal Property coverage form - ANSWER -
agreed value
- building ordinance coverage
- peak season coverage
- Value Reporting, Inflation Guard, and Replacement Cost are additional optional coverages
45 day notice for - ANSWER non renewal and cancellation
A bond that guarantees that supplies needed for a construction project will be delivered on time and
at the agreed upon price is defined as: - ANSWER supply contract bond
A bond that guarantees that supplies needed for a construction project will be delivered on time and
at the agreed upon price is defined as: - ANSWER Supply Contract Bond
A contract whereby one undertakes to indemnify another or pay or allow a specified amount or a
determinable benefit upon determinable contingencies is defined as - ANSWER Insurance
A coverage that is similar to premises and operations coverage in the Commercial General Liability
Policy covering bodily injury and property damage liability for aviation risks is defined as: -
ANSWER Airport and Air Meet Liability
A coverage that is similar to premises and operations coverage in the Commercial General Liability
Policy covering bodily injury and property damage liability for aviation risks is defined as: -
ANSWER Airport and Air Meet Liability
A disabled person who is capable of performing some type of gainful work would be classified as: -
ANSWER Permanent Impairment
A licensed insurance agent may share commissions with which of the following? -
ANSWER Non-Resident Agent
Customer Representative
,Florida Property & Casualty Insurance
Life Insurance Agen
A loss caused by Jettison, which is settled by each paying their proportionate share of the loss, is
defined as: - ANSWER general average
A loss caused by Jettison, which is settled by each paying their proportionate share of the loss, is
defined as: - ANSWER General Average
A peril that is unique to policies covering dry cleaners is defined as: - ANSWER Confusion of
Goods
A peril that is unique to policies covering dry cleaners is defined as: - ANSWER Confusion of
Goods
A person who holds property of others for a special purpose and returns it at some future time is
defined as a(n): - ANSWER Bailee
A plan in which the employer would, from its own funds, bear the financial responsibility for the
covered health claims of its own participating employees is defined as: - ANSWER Self-
Insured
A plan in which the employer would, from its own funds, bear the financial responsibility for the
covered health claims of its own participating employees is defined as: - ANSWER Self-
Insured
A policy condition, either based on information in the insureds application or inserted by the insurer,
is defined as: - ANSWER Warranty
A policy condition, either based on information in the insureds application or inserted by the insurer,
is defined as: - ANSWER Warranty
A process wherein the Surety and Principal exercise joint control over assets is defined as: -
ANSWER joint control
A process wherein the Surety and Principal exercise joint control over assets is defined as: -
ANSWER Joint Control
a quality withing an object tending to damage or destroy itself - ANSWER inherent vice
A selected group of hospitals and medical practitioners in a given area that have joined together in
an effort to reduce medical costs is defined as: - ANSWER PPO
A selected group of hospitals and medical practitioners in a given area that have joined together in
an effort to reduce medical costs is defined as: - ANSWER PPO
A special limit applies to articles whose principal value is precious metals, precious or semiprecious
stones, pearls or furs, and to the physical or intrinsic value of manuscripts, drawings or records. It is: -
ANSWER $5,000 per occurrence
,Florida Property & Casualty Insurance
A special limit applies to articles whose principal value is precious metals, precious or semiprecious
stones, pearls or furs, and to the physical or intrinsic value of manuscripts, drawings or records. It is: -
ANSWER 5k per occurance
ABC Health Insurer does not renew your policy since renewals are being declined on all similar
policies within the state of Florida. What type of policy is this? - ANSWER Conditionally
Renewable
ABC Health Insurer does not renew your policy since renewals are being declined on all similar
policies within the state of Florida. What type of policy is this? - ANSWER Conditionally
Renewable
After the expiration of a Workers Compensation Policy, how many years does the insurer have to
audit the insured's records? - ANSWER 3
After the expiration of a Workers Compensation Policy, how many years does the insurer have to
audit the insured's records? - ANSWER Three
After two years from the date of issue only fraudulent misstatements in the application can be used
to void the policy or deny a claim. This is defined as: - ANSWER Limitations on insurer
defenses
After two years from the date of issue only fraudulent misstatements in the application can be used
to void the policy or deny a claim. This is defined as: - ANSWER Limitations on insurer
defenses
Aircraft Policies may be written as: - ANSWER Valued
Actual Cash Value
Replacement Cost
All licensed residential property insurance companies in Florida must accept this form when
reporting mitigation features: - ANSWER Uniform Mitigation Verification Inspection Form
All licensed residential property insurance companies in Florida must accept this form when
reporting mitigation features: - ANSWER Uniform Mitigation Verification Inspection Form
All of the following are benefits of a Commercial Package Policy EXCEPT: -
ANSWER Additional policies to underwrite
All of the following are considered "Transacting Insurance" EXCEPT: - ANSWER Underwriting
new business
, Florida Property & Casualty Insurance
All of the following are considered Aircraft Liability Coverages EXCEPT: - ANSWER medical
liability
All of the following are considered Aircraft Liability Coverages EXCEPT: - ANSWER Medical
Liability
All of the following are considered Aircraft Liability Coverages EXCEPT: - ANSWER Medical
Liability
All of the following are considered Contract Bonds EXCEPT? - ANSWER Infrastructure Bond
All of the following are considered Contract Bonds EXCEPT? - ANSWER Infrastructure Bond
All of the following are considered Employment EXCEPT: - ANSWER A farm with four full-
time employees
A small farm should have five or less full-time employees
All of the following are considered Employment EXCEPT: - ANSWER A farm with six full-time
employees
A small farm with five or less full-time employees is not considered an employment (General Lines
Agent Study Manual, Unit 9, Employers and Employees).
All of the following are covered by a Mechanical Breakdown Policy EXCEPT: -
ANSWER Radiator damaged in an accident
All of the following are covered under Personal and Advertising Injury EXCEPT: -
ANSWER Bodily Injury
All of the following are covered under Personal and Advertising Injury EXCEPT: -
ANSWER Bodily Injury
-
All of the following are defined insureds in the Commercial General Liability Policy EXCEPT -
ANSWER spouse of employee
All of the following are defined insureds in the Commercial General Liability Policy EXCEPT: -
ANSWER Spouse of an employee
All of the following are duties of the insured after a loss EXCEPT - ANSWER Disclose
information to the other party's attorney
All of the following are features of Major Medical Insurance EXCEPT? - ANSWER Has limited
coverage for most expenses
All of the following are features of Major Medical Insurance EXCEPT? - ANSWER Has limited
coverage for most expenses
All of the following are grounds for compulsory refusal, suspension, or revocation EXCEPT: -
ANSWER Soliciting insurance in other areas of the state
$30,000 - ANSWER A combined single limit that will pay for liability and property damages
up to the stated amount.
10/20/10 limit breakdown - ANSWER 10 = $10,000 Liability per person injured -- If only one
person is injured, this is the most that will pay out.
20 = $20,000 COMBINED TOTAL Liability for all injuries -- If 2 or more persons are injured, this is the
most that will pay out.
10 = $10,000 Property Damage
3 eligibility requirements for the RCBAP flood policy - ANSWER one or more residential
units, 25% mercantile floor area, 75% owner occupied.
3 optional coverages under Building and Personal Property coverage form - ANSWER -
agreed value
- building ordinance coverage
- peak season coverage
- Value Reporting, Inflation Guard, and Replacement Cost are additional optional coverages
45 day notice for - ANSWER non renewal and cancellation
A bond that guarantees that supplies needed for a construction project will be delivered on time and
at the agreed upon price is defined as: - ANSWER supply contract bond
A bond that guarantees that supplies needed for a construction project will be delivered on time and
at the agreed upon price is defined as: - ANSWER Supply Contract Bond
A contract whereby one undertakes to indemnify another or pay or allow a specified amount or a
determinable benefit upon determinable contingencies is defined as - ANSWER Insurance
A coverage that is similar to premises and operations coverage in the Commercial General Liability
Policy covering bodily injury and property damage liability for aviation risks is defined as: -
ANSWER Airport and Air Meet Liability
A coverage that is similar to premises and operations coverage in the Commercial General Liability
Policy covering bodily injury and property damage liability for aviation risks is defined as: -
ANSWER Airport and Air Meet Liability
A disabled person who is capable of performing some type of gainful work would be classified as: -
ANSWER Permanent Impairment
A licensed insurance agent may share commissions with which of the following? -
ANSWER Non-Resident Agent
Customer Representative
,Florida Property & Casualty Insurance
Life Insurance Agen
A loss caused by Jettison, which is settled by each paying their proportionate share of the loss, is
defined as: - ANSWER general average
A loss caused by Jettison, which is settled by each paying their proportionate share of the loss, is
defined as: - ANSWER General Average
A peril that is unique to policies covering dry cleaners is defined as: - ANSWER Confusion of
Goods
A peril that is unique to policies covering dry cleaners is defined as: - ANSWER Confusion of
Goods
A person who holds property of others for a special purpose and returns it at some future time is
defined as a(n): - ANSWER Bailee
A plan in which the employer would, from its own funds, bear the financial responsibility for the
covered health claims of its own participating employees is defined as: - ANSWER Self-
Insured
A plan in which the employer would, from its own funds, bear the financial responsibility for the
covered health claims of its own participating employees is defined as: - ANSWER Self-
Insured
A policy condition, either based on information in the insureds application or inserted by the insurer,
is defined as: - ANSWER Warranty
A policy condition, either based on information in the insureds application or inserted by the insurer,
is defined as: - ANSWER Warranty
A process wherein the Surety and Principal exercise joint control over assets is defined as: -
ANSWER joint control
A process wherein the Surety and Principal exercise joint control over assets is defined as: -
ANSWER Joint Control
a quality withing an object tending to damage or destroy itself - ANSWER inherent vice
A selected group of hospitals and medical practitioners in a given area that have joined together in
an effort to reduce medical costs is defined as: - ANSWER PPO
A selected group of hospitals and medical practitioners in a given area that have joined together in
an effort to reduce medical costs is defined as: - ANSWER PPO
A special limit applies to articles whose principal value is precious metals, precious or semiprecious
stones, pearls or furs, and to the physical or intrinsic value of manuscripts, drawings or records. It is: -
ANSWER $5,000 per occurrence
,Florida Property & Casualty Insurance
A special limit applies to articles whose principal value is precious metals, precious or semiprecious
stones, pearls or furs, and to the physical or intrinsic value of manuscripts, drawings or records. It is: -
ANSWER 5k per occurance
ABC Health Insurer does not renew your policy since renewals are being declined on all similar
policies within the state of Florida. What type of policy is this? - ANSWER Conditionally
Renewable
ABC Health Insurer does not renew your policy since renewals are being declined on all similar
policies within the state of Florida. What type of policy is this? - ANSWER Conditionally
Renewable
After the expiration of a Workers Compensation Policy, how many years does the insurer have to
audit the insured's records? - ANSWER 3
After the expiration of a Workers Compensation Policy, how many years does the insurer have to
audit the insured's records? - ANSWER Three
After two years from the date of issue only fraudulent misstatements in the application can be used
to void the policy or deny a claim. This is defined as: - ANSWER Limitations on insurer
defenses
After two years from the date of issue only fraudulent misstatements in the application can be used
to void the policy or deny a claim. This is defined as: - ANSWER Limitations on insurer
defenses
Aircraft Policies may be written as: - ANSWER Valued
Actual Cash Value
Replacement Cost
All licensed residential property insurance companies in Florida must accept this form when
reporting mitigation features: - ANSWER Uniform Mitigation Verification Inspection Form
All licensed residential property insurance companies in Florida must accept this form when
reporting mitigation features: - ANSWER Uniform Mitigation Verification Inspection Form
All of the following are benefits of a Commercial Package Policy EXCEPT: -
ANSWER Additional policies to underwrite
All of the following are considered "Transacting Insurance" EXCEPT: - ANSWER Underwriting
new business
, Florida Property & Casualty Insurance
All of the following are considered Aircraft Liability Coverages EXCEPT: - ANSWER medical
liability
All of the following are considered Aircraft Liability Coverages EXCEPT: - ANSWER Medical
Liability
All of the following are considered Aircraft Liability Coverages EXCEPT: - ANSWER Medical
Liability
All of the following are considered Contract Bonds EXCEPT? - ANSWER Infrastructure Bond
All of the following are considered Contract Bonds EXCEPT? - ANSWER Infrastructure Bond
All of the following are considered Employment EXCEPT: - ANSWER A farm with four full-
time employees
A small farm should have five or less full-time employees
All of the following are considered Employment EXCEPT: - ANSWER A farm with six full-time
employees
A small farm with five or less full-time employees is not considered an employment (General Lines
Agent Study Manual, Unit 9, Employers and Employees).
All of the following are covered by a Mechanical Breakdown Policy EXCEPT: -
ANSWER Radiator damaged in an accident
All of the following are covered under Personal and Advertising Injury EXCEPT: -
ANSWER Bodily Injury
All of the following are covered under Personal and Advertising Injury EXCEPT: -
ANSWER Bodily Injury
-
All of the following are defined insureds in the Commercial General Liability Policy EXCEPT -
ANSWER spouse of employee
All of the following are defined insureds in the Commercial General Liability Policy EXCEPT: -
ANSWER Spouse of an employee
All of the following are duties of the insured after a loss EXCEPT - ANSWER Disclose
information to the other party's attorney
All of the following are features of Major Medical Insurance EXCEPT? - ANSWER Has limited
coverage for most expenses
All of the following are features of Major Medical Insurance EXCEPT? - ANSWER Has limited
coverage for most expenses
All of the following are grounds for compulsory refusal, suspension, or revocation EXCEPT: -
ANSWER Soliciting insurance in other areas of the state
