Florida P&C Exam Questions and
Answers (Solved Papers)
Jack, who owns a hardware store, applies for a loan to expand
the premises. His loan application is denied. He learns that
someone got his credit card number and used it to make
purchases that exceeded his credit limit. Jack hires an
attorney to help him repair his credit and loses time from
work. What coverage might pay for some or all of these
expenses? - Correct Answers ✅identity fraud expense
coverage
Which of the following businesses is generally NOT eligible for
a businessowners policy (BOP)? - Correct Answers ✅auto
body shop
The errors and omissions coverage in an equipment
breakdown policy is most likely to apply in which of the
following situations? - Correct Answers ✅The insured made
a mistake in describing the property location on the
application.
Mac bought a new gas grill from a local department store.
After cooking dinner, he turns off the gas to the grill. A little
later the grill explodes and damages Mac's home. The cause
is determined to be a defect in the grill. Mac's homeowners
policy pays for the damage to the home and grill. Having paid
Mac's claim, the insurer is likely to do what with respect to
the grill's manufacturer? - Correct Answers ✅subrogate the
claim to seek recovery from the manufacturer
,Florida P&C Exam Questions and
Answers (Solved Papers)
First Street Supply Company has a good business relationship
with its main customer, Alliance Metals, which it wants to
maintain even if a First Street employee were to get injured
while visiting Alliance's factory. Which of the following
endorsements might First Street add to its workers
compensation policy to minimize potential disputes should
that ever happen? - Correct Answers ✅Waiver of Our Right
to Recover from Others endorsement
In an unendorsed homeowners policy, losses to personal
property are settled on what basis? - Correct Answers
✅actual cash value
A company that only provides truck transportation for its own
cargo is known as what type of carrier? - Correct Answers
✅private carrier
A flat benefit amount in a disability income policy is usually
what percent of the full disability benefit? - Correct Answers
✅50%
All of the following are federal workers compensation laws
that protect employees injured on the job EXCEPT: - Correct
Answers ✅Sue and Labor Clause
How do public adjusters primarily differ from staff or
independent adjusters? - Correct Answers ✅Public
,Florida P&C Exam Questions and
Answers (Solved Papers)
adjusters represent insureds, while other adjusters represent
insurers.
A company that transports cargo belonging to others for a fee
is known as what type of carrier? - Correct Answers
✅carrier for hire
Which of the following statements regarding the Patient
Protection and Affordable Care Act (PPACA) is correct? -
Correct Answers ✅Medical expense insurance is available
on a guaranteed issue basis to all persons regardless of pre-
existing conditions.
Which statement correctly describes managed care plans
such as HMOs? - Correct Answers ✅They connect the
financing and delivery of health care.
The declarations page of Julius's equipment breakdown policy
lists a number of coverages, such as property damage,
expediting expenses, business income and extra expense,
and utility interruption. The word "INCLUDED" is shown next
to "property damage," but it does not appear elsewhere in
the declarations, nor are there any dollar limits listed on the
page. Julius's policy provides coverage for: - Correct
Answers ✅property damage only
, Florida P&C Exam Questions and
Answers (Solved Papers)
Robert is having a home built, which is 50 percent completed.
He protects it with a dwelling policy that includes the
Dwelling Under Construction endorsement. If lightning were
to strike and destroy it, what (if anything) would the policy
pay? - Correct Answers ✅50 percent of the coverage A
limit
A liability adjuster has each of the following duties EXCEPT: -
Correct Answers ✅to prosecute the party that caused the
loss
James is a licensed adjuster who lives in Florida. He moves to
Georgia. When must he notify the Department of Financial
Services of his move? - Correct Answers ✅within 30 days
The property section of a businessowners policy (BOP)
provides how much coverage for the cost of replacing or
restoring electronic data that has been destroyed or
corrupted by a covered cause of loss? - Correct Answers
✅up to $10,000
Which of the following incidents would be covered by the
equipment insurance breakdown policy? - Correct Answers
✅a surge in electricity damages a company's mainframe
computer
Answers (Solved Papers)
Jack, who owns a hardware store, applies for a loan to expand
the premises. His loan application is denied. He learns that
someone got his credit card number and used it to make
purchases that exceeded his credit limit. Jack hires an
attorney to help him repair his credit and loses time from
work. What coverage might pay for some or all of these
expenses? - Correct Answers ✅identity fraud expense
coverage
Which of the following businesses is generally NOT eligible for
a businessowners policy (BOP)? - Correct Answers ✅auto
body shop
The errors and omissions coverage in an equipment
breakdown policy is most likely to apply in which of the
following situations? - Correct Answers ✅The insured made
a mistake in describing the property location on the
application.
Mac bought a new gas grill from a local department store.
After cooking dinner, he turns off the gas to the grill. A little
later the grill explodes and damages Mac's home. The cause
is determined to be a defect in the grill. Mac's homeowners
policy pays for the damage to the home and grill. Having paid
Mac's claim, the insurer is likely to do what with respect to
the grill's manufacturer? - Correct Answers ✅subrogate the
claim to seek recovery from the manufacturer
,Florida P&C Exam Questions and
Answers (Solved Papers)
First Street Supply Company has a good business relationship
with its main customer, Alliance Metals, which it wants to
maintain even if a First Street employee were to get injured
while visiting Alliance's factory. Which of the following
endorsements might First Street add to its workers
compensation policy to minimize potential disputes should
that ever happen? - Correct Answers ✅Waiver of Our Right
to Recover from Others endorsement
In an unendorsed homeowners policy, losses to personal
property are settled on what basis? - Correct Answers
✅actual cash value
A company that only provides truck transportation for its own
cargo is known as what type of carrier? - Correct Answers
✅private carrier
A flat benefit amount in a disability income policy is usually
what percent of the full disability benefit? - Correct Answers
✅50%
All of the following are federal workers compensation laws
that protect employees injured on the job EXCEPT: - Correct
Answers ✅Sue and Labor Clause
How do public adjusters primarily differ from staff or
independent adjusters? - Correct Answers ✅Public
,Florida P&C Exam Questions and
Answers (Solved Papers)
adjusters represent insureds, while other adjusters represent
insurers.
A company that transports cargo belonging to others for a fee
is known as what type of carrier? - Correct Answers
✅carrier for hire
Which of the following statements regarding the Patient
Protection and Affordable Care Act (PPACA) is correct? -
Correct Answers ✅Medical expense insurance is available
on a guaranteed issue basis to all persons regardless of pre-
existing conditions.
Which statement correctly describes managed care plans
such as HMOs? - Correct Answers ✅They connect the
financing and delivery of health care.
The declarations page of Julius's equipment breakdown policy
lists a number of coverages, such as property damage,
expediting expenses, business income and extra expense,
and utility interruption. The word "INCLUDED" is shown next
to "property damage," but it does not appear elsewhere in
the declarations, nor are there any dollar limits listed on the
page. Julius's policy provides coverage for: - Correct
Answers ✅property damage only
, Florida P&C Exam Questions and
Answers (Solved Papers)
Robert is having a home built, which is 50 percent completed.
He protects it with a dwelling policy that includes the
Dwelling Under Construction endorsement. If lightning were
to strike and destroy it, what (if anything) would the policy
pay? - Correct Answers ✅50 percent of the coverage A
limit
A liability adjuster has each of the following duties EXCEPT: -
Correct Answers ✅to prosecute the party that caused the
loss
James is a licensed adjuster who lives in Florida. He moves to
Georgia. When must he notify the Department of Financial
Services of his move? - Correct Answers ✅within 30 days
The property section of a businessowners policy (BOP)
provides how much coverage for the cost of replacing or
restoring electronic data that has been destroyed or
corrupted by a covered cause of loss? - Correct Answers
✅up to $10,000
Which of the following incidents would be covered by the
equipment insurance breakdown policy? - Correct Answers
✅a surge in electricity damages a company's mainframe
computer
