FLORIDA 2-20 AGENTS LICENSE EXAM WITH 100 REAL EXAM
QUESTIONS AND VERIFIED ANSWERS RATED GRADE A
UPDATED VERSION 2024-2025.
Which of the following is NOT a required qualification for a
General Lines Agent: - CORRECTANSWERS✔✔-Seeking the
license only to write controlled business
The Department of Financial Services performs the following,
EXCEPT: - CORRECTANSWERS✔✔-Pays insurance claims
The Florida Surplus Service Lines Office (FSLSO) was created to
- CORRECTANSWERS✔✔-oversee the surplus lines industry in
the state
Once license, you have how long to obtain an appointment? -
CORRECTANSWERS✔✔-48 months
,Which of the following is NOT a duty of the Office of Insurance
Regulation? - CORRECTANSWERS✔✔-Submit rate filings and
underwriting rules for approval
Which one of the following statements is correct? -
CORRECTANSWERS✔✔-Contractors must usually provide
evidence of liability insurance before a construction contract
is granted.
From a risk management viewpoint, insurance is used to -
CORRECTANSWERS✔✔-Transfer the cost of losses.
Liability coverage for loss exposures arising from a business
organization's premises and operations, its products, or its
completed work is typically provided by -
CORRECTANSWERS✔✔-Commercial general liability
insurance.
Which one of the following statements is correct regarding
the benefits provided by insurance? - CORRECTANSWERS✔✔-
Insurance helps reduce the financial burden to society by
compensating accident victims.
,Insurance is not the only risk management transfer technique.
When circumstances are appropriate, transfer can be
accomplished through - CORRECTANSWERS✔✔-Noninsurance
transfer techniques.
Oscar's custom-built vehicle looks like a sausage sandwich on
wheels. He plans to drive it to special events at schools
around the country where it will serve as a mobile billboard to
promote his product. Oscar is surprised to learn that insurers
are reluctant to insure his vehicle because it fails to meet one
of the ideal characteristics of an insurable risk. Which
characteristic is Oscar's vehicle least likely to meet? -
CORRECTANSWERS✔✔-Large number of similar exposure
units
Liability coverage to individuals and families for bodily injury
and property damage arising from the insured's personal
premises or activities is typically provided by -
CORRECTANSWERS✔✔-Personal liability insurance.
Sally is a recent college graduate who lives in the suburbs and
drives to work daily in the city. She recognizes that owning a
car creates both property damage and liability exposures for
her and at the same time she has the burden of student loans.
For someone in Sally's circumstances the most practical risk
, management technique for dealing with her auto-related loss
exposures is - CORRECTANSWERS✔✔-Risk transfer.
One of the costs of insurance is said to be opportunity costs.
This means that if capital and labor were not being used in the
insurance business, they could be used elsewhere and making
other productive contributions to - CORRECTANSWERS✔✔-
Society
Retention is often used in combination with insurance as a
way of treating loss exposures. One of the major downsides of
individuals using retention alone is - CORRECTANSWERS✔✔-
The potential for financial ruin.
The process of restoring an individual or organization to a pre-
loss financial condition is the process of -
CORRECTANSWERS✔✔-Indemnification
Sometimes the existence of insurance encourages losses. The
result of this phenomenon is that it - CORRECTANSWERS✔✔-
Increases the total cost of insurance
QUESTIONS AND VERIFIED ANSWERS RATED GRADE A
UPDATED VERSION 2024-2025.
Which of the following is NOT a required qualification for a
General Lines Agent: - CORRECTANSWERS✔✔-Seeking the
license only to write controlled business
The Department of Financial Services performs the following,
EXCEPT: - CORRECTANSWERS✔✔-Pays insurance claims
The Florida Surplus Service Lines Office (FSLSO) was created to
- CORRECTANSWERS✔✔-oversee the surplus lines industry in
the state
Once license, you have how long to obtain an appointment? -
CORRECTANSWERS✔✔-48 months
,Which of the following is NOT a duty of the Office of Insurance
Regulation? - CORRECTANSWERS✔✔-Submit rate filings and
underwriting rules for approval
Which one of the following statements is correct? -
CORRECTANSWERS✔✔-Contractors must usually provide
evidence of liability insurance before a construction contract
is granted.
From a risk management viewpoint, insurance is used to -
CORRECTANSWERS✔✔-Transfer the cost of losses.
Liability coverage for loss exposures arising from a business
organization's premises and operations, its products, or its
completed work is typically provided by -
CORRECTANSWERS✔✔-Commercial general liability
insurance.
Which one of the following statements is correct regarding
the benefits provided by insurance? - CORRECTANSWERS✔✔-
Insurance helps reduce the financial burden to society by
compensating accident victims.
,Insurance is not the only risk management transfer technique.
When circumstances are appropriate, transfer can be
accomplished through - CORRECTANSWERS✔✔-Noninsurance
transfer techniques.
Oscar's custom-built vehicle looks like a sausage sandwich on
wheels. He plans to drive it to special events at schools
around the country where it will serve as a mobile billboard to
promote his product. Oscar is surprised to learn that insurers
are reluctant to insure his vehicle because it fails to meet one
of the ideal characteristics of an insurable risk. Which
characteristic is Oscar's vehicle least likely to meet? -
CORRECTANSWERS✔✔-Large number of similar exposure
units
Liability coverage to individuals and families for bodily injury
and property damage arising from the insured's personal
premises or activities is typically provided by -
CORRECTANSWERS✔✔-Personal liability insurance.
Sally is a recent college graduate who lives in the suburbs and
drives to work daily in the city. She recognizes that owning a
car creates both property damage and liability exposures for
her and at the same time she has the burden of student loans.
For someone in Sally's circumstances the most practical risk
, management technique for dealing with her auto-related loss
exposures is - CORRECTANSWERS✔✔-Risk transfer.
One of the costs of insurance is said to be opportunity costs.
This means that if capital and labor were not being used in the
insurance business, they could be used elsewhere and making
other productive contributions to - CORRECTANSWERS✔✔-
Society
Retention is often used in combination with insurance as a
way of treating loss exposures. One of the major downsides of
individuals using retention alone is - CORRECTANSWERS✔✔-
The potential for financial ruin.
The process of restoring an individual or organization to a pre-
loss financial condition is the process of -
CORRECTANSWERS✔✔-Indemnification
Sometimes the existence of insurance encourages losses. The
result of this phenomenon is that it - CORRECTANSWERS✔✔-
Increases the total cost of insurance
