Florida Personal Lines Exam
Under Part A of a Personal Auto Policy, which of the following losses
would be covered?
A) Damage to property being transported by the insured
B) Damage to a neighbor's parked car
C) Damage to a neighbor's lawn mower in the care of the insured
D)Damage to the home the insured owns correct answersB.) Damage to
a neighbor's parked car
Which of the following is true regarding the Fine Arts Floater?
E) Coverage is limited to the United States, Canada, and Mexico
F) Coverage is primarily for stamps and coins
G) It provides automatic coverage on newly acquired items for 90 days
H)It settles losses on an ACV basis correct answersC.) It provides
automatic coverage on newly acquired items for 90 days
All of the following statements are correct about a Homeowners Policy,
except:
I) Home schooling is covered under a Homeowners Policy
J)Coverage D of a Homeowners Policy includes loss of income from an
incidental business
K) A Homeowners Policy will not cover theft of a boat away from
premises
L)Coverage D of a Homeowners Policy covers additional living
expenses correct answersB.) Coverage D of a Homeowners Policy
includes loss of income from an incidental business
Under disability income insurance, a monthly benefit will be of the
insured's monthly income.
A.) 80 1/2%
B.) 66 2/3%
C.) 70 2/3%
D.) 50 3/4% correct answersB.) 66 2/3%
All of the following items of property are considered property not
covered under Coverage C of a Homeowners policy, except:
M) Credit cards
N) Personal property of a guest
O) Pets
P) Personal property of a tenant correct answersB.) Personal
property of a guest
,Which of the following is NOT a purpose of licensing?
A) For the applicant to be familiar with the Florida insurance laws
B)To authorize and enable the licensee to actively and in good faith
engage in the insurance business as an agent
C) To facilitate the public supervision of such activities in the public
interest
D)To authorize the agent to insure risks correct answersD.) To authorize
the agent to insure risks
Liability coverage provided by a Personal Auto policy would cover which of
the following damages?
E) Damage to property being transported by the insured in a covered auto
F)Damage to a private garage rented to the insured, caused by the
insured's child driving a covered auto
G) Damage to a neighbor's riding lawn mower that is in the care of the
insured
H)Damage to a storefront caused by a valet driver operating a covered
auto correct answersB.) Damage to a private garage rented to the insured,
caused by the insured's child driving a covered auto
Which policy provision omits certain risks from coverage?
I) Conditions
J) Additional Coverages
K) Exclusions
L) Declarations correct answersC.) Exclusions
When an underlying policy does not cover a particular loss, the insured's
Umbrella Liability policy will drop down and cover the entire loss, after
payment by the insured of a:
M) Deductible
N) Self-insured retention
O) Copayment
P) Commission correct answersB.) Self-insured retention
Liability coverage may be provided by a Homeowners policy for the
insured's use of which of the following watercraft?
Q) 20-foot sailing boat
R) Private yacht owned by the insured
S) Rented pontoon boat to entertain business clients
T) Racing cruiser correct answersA.) 20-foot sailing boat
,An insured owns a home with a replacement cost of $300,000 and a market
value of
$250,000. What is the most a valued policy will pay in the event of a total
loss without a deductible?
A.) $240,000
B.) $250,000
C) The policy limit
D) $300,000 correct answersC.) The policy limit
Policyholder J hit a deer with their Honda. J has collision coverage with a
$250 deductible and other than collision coverage with a $50 deductible.
The damage to J's car was $450. How much will the policy pay?
A.) $200
E) Nothing
F) $400
G) $150 correct answersC.) $400
Under all the Dwelling Forms, the dwelling described in the Declarations
is covered under:
H) Coverage A
I) Coverage B
J) Coverage E
K) Coverage C correct answersA.) Coverage A
If an owner-occupied home is totally destroyed without fraud by a fire, the
amount of the loss is based on:
L) The coinsurance value
M) The replacement value
N) The market value
O) The policy limit correct answersD.) The policy limit
A false statement in the application for insurance is called a:
P) Warranty
Q) Concealment
R) Representation
S) Misrepresentation correct answersD.) Misrepresentation
When a claimant brings a negligence claim against the insured, the court
determines that the claimant is partially responsible for the loss, and the
damages they are owed is reduced by the amount of their responsibility.
This describes which defense against negligence?
, A) Comparative negligence
B) Contributory negligence
C) Contributory risk
D) Comparative risk correct answersA.) Comparative negligence
All of the following statements about liability are true, except:
E)The burden of proof is on the injured party to prove that the
other party was negligent
F) Liability policies pay costs incurred by an insured to sue negligent
third parties
G)An insured may be liable for damages to an injured party, even if
they are not deemed negligent
H)Breach of contract is not considered an act of negligence correct
answersB.) Liability policies pay costs incurred by an insured to sue
negligent third parties
Under Part A - Liability Coverage of a Personal Auto policy, which of the
following statements regarding the limit of liability is incorrect?
I)The limit of liability is the maximum the policy will pay regardless of
the number of insureds
J)The limit of liability is the maximum the policy will pay regardless of
the number of vehicles involved in the accident
K)If the loss is covered under more than one part of the policy,
payment will be duplicated
L)A combined single limit is the maximum the policy will pay in any one
accident for bodily injury and property damage correct answersC.) If the loss
is covered under more
than one part of the policy, payment will be duplicated
Actual cash value may be defined as:
M) The cost to replace or repair property, minus depreciation
N) The cost to replace or repair the property
O) The original purchase price of property, minus depreciation
P)The agreed upon specific value determined before the policy was
issued correct answersA.) The cost to replace or repair property, minus
depreciation
Policyholder N insures an owner-occupied home under a Special Form
Dwelling Policy with a limit of $100,000. If the dwelling is damaged in a fire,
what is the limit of insurance that will apply to Coverage E - Additional
Living Expense?
A.) $50,000
B.) $20,000
C.) $10,000
D.) $40,000 correct answersB.) $20,000
As used in casualty insurance, bodily injury is best described as:
Under Part A of a Personal Auto Policy, which of the following losses
would be covered?
A) Damage to property being transported by the insured
B) Damage to a neighbor's parked car
C) Damage to a neighbor's lawn mower in the care of the insured
D)Damage to the home the insured owns correct answersB.) Damage to
a neighbor's parked car
Which of the following is true regarding the Fine Arts Floater?
E) Coverage is limited to the United States, Canada, and Mexico
F) Coverage is primarily for stamps and coins
G) It provides automatic coverage on newly acquired items for 90 days
H)It settles losses on an ACV basis correct answersC.) It provides
automatic coverage on newly acquired items for 90 days
All of the following statements are correct about a Homeowners Policy,
except:
I) Home schooling is covered under a Homeowners Policy
J)Coverage D of a Homeowners Policy includes loss of income from an
incidental business
K) A Homeowners Policy will not cover theft of a boat away from
premises
L)Coverage D of a Homeowners Policy covers additional living
expenses correct answersB.) Coverage D of a Homeowners Policy
includes loss of income from an incidental business
Under disability income insurance, a monthly benefit will be of the
insured's monthly income.
A.) 80 1/2%
B.) 66 2/3%
C.) 70 2/3%
D.) 50 3/4% correct answersB.) 66 2/3%
All of the following items of property are considered property not
covered under Coverage C of a Homeowners policy, except:
M) Credit cards
N) Personal property of a guest
O) Pets
P) Personal property of a tenant correct answersB.) Personal
property of a guest
,Which of the following is NOT a purpose of licensing?
A) For the applicant to be familiar with the Florida insurance laws
B)To authorize and enable the licensee to actively and in good faith
engage in the insurance business as an agent
C) To facilitate the public supervision of such activities in the public
interest
D)To authorize the agent to insure risks correct answersD.) To authorize
the agent to insure risks
Liability coverage provided by a Personal Auto policy would cover which of
the following damages?
E) Damage to property being transported by the insured in a covered auto
F)Damage to a private garage rented to the insured, caused by the
insured's child driving a covered auto
G) Damage to a neighbor's riding lawn mower that is in the care of the
insured
H)Damage to a storefront caused by a valet driver operating a covered
auto correct answersB.) Damage to a private garage rented to the insured,
caused by the insured's child driving a covered auto
Which policy provision omits certain risks from coverage?
I) Conditions
J) Additional Coverages
K) Exclusions
L) Declarations correct answersC.) Exclusions
When an underlying policy does not cover a particular loss, the insured's
Umbrella Liability policy will drop down and cover the entire loss, after
payment by the insured of a:
M) Deductible
N) Self-insured retention
O) Copayment
P) Commission correct answersB.) Self-insured retention
Liability coverage may be provided by a Homeowners policy for the
insured's use of which of the following watercraft?
Q) 20-foot sailing boat
R) Private yacht owned by the insured
S) Rented pontoon boat to entertain business clients
T) Racing cruiser correct answersA.) 20-foot sailing boat
,An insured owns a home with a replacement cost of $300,000 and a market
value of
$250,000. What is the most a valued policy will pay in the event of a total
loss without a deductible?
A.) $240,000
B.) $250,000
C) The policy limit
D) $300,000 correct answersC.) The policy limit
Policyholder J hit a deer with their Honda. J has collision coverage with a
$250 deductible and other than collision coverage with a $50 deductible.
The damage to J's car was $450. How much will the policy pay?
A.) $200
E) Nothing
F) $400
G) $150 correct answersC.) $400
Under all the Dwelling Forms, the dwelling described in the Declarations
is covered under:
H) Coverage A
I) Coverage B
J) Coverage E
K) Coverage C correct answersA.) Coverage A
If an owner-occupied home is totally destroyed without fraud by a fire, the
amount of the loss is based on:
L) The coinsurance value
M) The replacement value
N) The market value
O) The policy limit correct answersD.) The policy limit
A false statement in the application for insurance is called a:
P) Warranty
Q) Concealment
R) Representation
S) Misrepresentation correct answersD.) Misrepresentation
When a claimant brings a negligence claim against the insured, the court
determines that the claimant is partially responsible for the loss, and the
damages they are owed is reduced by the amount of their responsibility.
This describes which defense against negligence?
, A) Comparative negligence
B) Contributory negligence
C) Contributory risk
D) Comparative risk correct answersA.) Comparative negligence
All of the following statements about liability are true, except:
E)The burden of proof is on the injured party to prove that the
other party was negligent
F) Liability policies pay costs incurred by an insured to sue negligent
third parties
G)An insured may be liable for damages to an injured party, even if
they are not deemed negligent
H)Breach of contract is not considered an act of negligence correct
answersB.) Liability policies pay costs incurred by an insured to sue
negligent third parties
Under Part A - Liability Coverage of a Personal Auto policy, which of the
following statements regarding the limit of liability is incorrect?
I)The limit of liability is the maximum the policy will pay regardless of
the number of insureds
J)The limit of liability is the maximum the policy will pay regardless of
the number of vehicles involved in the accident
K)If the loss is covered under more than one part of the policy,
payment will be duplicated
L)A combined single limit is the maximum the policy will pay in any one
accident for bodily injury and property damage correct answersC.) If the loss
is covered under more
than one part of the policy, payment will be duplicated
Actual cash value may be defined as:
M) The cost to replace or repair property, minus depreciation
N) The cost to replace or repair the property
O) The original purchase price of property, minus depreciation
P)The agreed upon specific value determined before the policy was
issued correct answersA.) The cost to replace or repair property, minus
depreciation
Policyholder N insures an owner-occupied home under a Special Form
Dwelling Policy with a limit of $100,000. If the dwelling is damaged in a fire,
what is the limit of insurance that will apply to Coverage E - Additional
Living Expense?
A.) $50,000
B.) $20,000
C.) $10,000
D.) $40,000 correct answersB.) $20,000
As used in casualty insurance, bodily injury is best described as:
