Florida 2-20 Agents License Exam
Questions
"Additional Coverage", below a Commercial Property coverage encompass all the following
except:
CORRECT ANSWER: Newly acquired places for as much as 60 days
10% for a self-storage facility does now not observe to private assets this is moved from the
residence premises because:
CORRECT ANSWER: It's being repaired
A is needed in order for an insurer to transact coverage in Florida.
CORRECT ANSWER: Certificate if Authority
A declare beneath an ISO Commercial Crime Coverage Form is challenge to the
Valuation—Settlement situation. Which one of the following is actual concerning this
Valuation—Settlement condition?
CORRECT ANSWER: Damaged assets is valued at substitute cost or the insurer can
restore or replace the property
A Commercial Package Policy (CPP) top rate can be modified through a bundle modification
issue. This element
CORRECT ANSWER: Is a reduction justified by way of the extra efficiency in presenting a
package coverage.
A Commercial Package policy can also consist of the subsequent coverage types EXCEPT:
CORRECT ANSWER: Health
A condominium unit proprietor might use which shape? CORRECT ANSWER: HO-6
A description of the belongings insured, a listing of mortgagees, and the applicable coinsurance
percent(s) are shown on which one of the following files?
CORRECT ANSWER: Commercial belongings declarations
A Florida insured has a Personal Auto Policy offering PIP coverage with a $1,000 deductible.
The insured is injured in his vehicle and sustains $15,000 in medical payments. How a great
deal will his policy pay underneath PIP?
CORRECT ANSWER: $10,000
A owners policy premium is determined via first growing the base top class. The base top class
is stimulated by way of positive elements, consisting of which one of the following?
CORRECT ANSWER: Dwelling place
,A policy with Citizens can be changed with a policy from a licensed insurer at any time
throughout the coverage length with a ________ day note.
CORRECT ANSWER: 60
A small commercial enterprise proprietor worried about something taking place and no longer
being able to work or earn a residing for an prolonged time frame due to an coincidence should
purchase
CORRECT ANSWER: Disability coverage.
A hurricane reasons strength lines to interrupt ten miles from the insured's premises. The loss of
electrical power causes meals inside the insured's freezer to thaw and ruin. Coverage for this
loss is
CORRECT ANSWER: Excluded because the power failure came about off the house
premises.
A time period used to indicate a partial loss attributable to a sacrifice of shipment to store
closing property (jettison) Each birthday celebration then stocks within the loss in proportion to
their total hobby in belongings being transported
CORRECT ANSWER: General Average
A written settlement that includes all clauses, riders, endorsements and papers is known as:
CORRECT ANSWER: Policy
ABC, Inc., is a huge, country wide store that sells a ramification of customer items. ABC
contains a Commercial Package Policy that consists of Insurance Services Office's Commercial
Crime Coverage Form (Loss Sustained) with the subsequent insuring agreements: Employee
Theft; Forgery or Alteration; Inside the Premises—Theft of Money and Securities; and Inside the
Premises—Robbery or Safe Burglary of Other Property. The limit of coverage for every this type
of insuring agreements is $a hundred,000 and the deductible in line with occurrence for every
this type of insuring agreements is $1,000. The policy 12 months is 20X1. During 20X1,
personnel, Beth and Jim, in collusion, stole money and products from ABC. Beth and Jim stole
cash on May 1, 20X1 and August 13, 20X1. They also stole products on January 15, 20X1 and
September 29, 20X1. The quantity of the cash loss totaled $15,000 even as the quantity of the
merchandise loss totaled $110,000. W
CORRECT ANSWER: $100,000
Adam and his insurer disagree on the quantity of a loss protected through his homeowners
policy. Adam wishes the insurer to pay $10,000 toward the loss. The insurer's representative
feels that the loss need to be worth $5,000. How could the appraisal technique resolve this
example?
CORRECT ANSWER: Adam and the insurer will each pick out an appraiser, and the 2
appraisers will publish their variations to an unbiased umpire who will attain a decision.
After a loss the insured need to do all the following except:
CORRECT ANSWER: Discontinue premium bills All "hold-out" and "take-out" plans of
, Citizens are challenge to the statute.
CORRECT ANSWER: Consumer Choice
All of the following are BI and PD exclusions underneath the CGL EXCEPT:
CORRECT ANSWER: Excessive Liability
All of the following are controlled Commercial Inland Marine strains EXCEPT:
CORRECT ANSWER: Annual Transit
All of the following are insurance extensions observed within the Building and Personal Property
Coverage form besides:
CORRECT ANSWER: Off premises signal insurance up to $2,500
All of the subsequent are deductibles for FAJUA Physical Damage Coverage EXCEPT:
CORRECT ANSWER: $2,500
All of the following are eligible for a homeowners coverage EXCEPT:
CORRECT ANSWER: Owner-occupants of a 1-6 family dwelling
All of the subsequent are eligible for the PAP coverage EXCEPT:
CORRECT ANSWER: Corporations
All of the following are exclusions beneath Garage Insurance Physical Damage coverage
EXCEPT:
CORRECT ANSWER: Expected losses
All of the subsequent are Major Medical Insurance exclusions EXCEPT:
CORRECT ANSWER: Cosmetic surgery required by using coincidence
All of the subsequent are not real regarding belongings coverages below the Businessowners
policy EXCEPT:
CORRECT ANSWER: ACV on personal property
All of the following are Optional Coverages beneath the Buisnessowners coverage EXCEPT:
CORRECT ANSWER: Collapse
All of the subsequent are consequences under the Florida No-Fault Law EXCEPT:
CORRECT ANSWER: SR 22 denied
All of the following are real of the Supplemental Extended Reporting Period (SERP) underneath
a Claims-made CGL coverage besides:
CORRECT ANSWER: The insurance is automated and want no longer be requested with the
aid of the insured.
All of the following can be an insured underneath the Lawyers Professional Liability coverage
EXCEPT:
CORRECT ANSWER: Lawyers for their offerings after termination
Questions
"Additional Coverage", below a Commercial Property coverage encompass all the following
except:
CORRECT ANSWER: Newly acquired places for as much as 60 days
10% for a self-storage facility does now not observe to private assets this is moved from the
residence premises because:
CORRECT ANSWER: It's being repaired
A is needed in order for an insurer to transact coverage in Florida.
CORRECT ANSWER: Certificate if Authority
A declare beneath an ISO Commercial Crime Coverage Form is challenge to the
Valuation—Settlement situation. Which one of the following is actual concerning this
Valuation—Settlement condition?
CORRECT ANSWER: Damaged assets is valued at substitute cost or the insurer can
restore or replace the property
A Commercial Package Policy (CPP) top rate can be modified through a bundle modification
issue. This element
CORRECT ANSWER: Is a reduction justified by way of the extra efficiency in presenting a
package coverage.
A Commercial Package policy can also consist of the subsequent coverage types EXCEPT:
CORRECT ANSWER: Health
A condominium unit proprietor might use which shape? CORRECT ANSWER: HO-6
A description of the belongings insured, a listing of mortgagees, and the applicable coinsurance
percent(s) are shown on which one of the following files?
CORRECT ANSWER: Commercial belongings declarations
A Florida insured has a Personal Auto Policy offering PIP coverage with a $1,000 deductible.
The insured is injured in his vehicle and sustains $15,000 in medical payments. How a great
deal will his policy pay underneath PIP?
CORRECT ANSWER: $10,000
A owners policy premium is determined via first growing the base top class. The base top class
is stimulated by way of positive elements, consisting of which one of the following?
CORRECT ANSWER: Dwelling place
,A policy with Citizens can be changed with a policy from a licensed insurer at any time
throughout the coverage length with a ________ day note.
CORRECT ANSWER: 60
A small commercial enterprise proprietor worried about something taking place and no longer
being able to work or earn a residing for an prolonged time frame due to an coincidence should
purchase
CORRECT ANSWER: Disability coverage.
A hurricane reasons strength lines to interrupt ten miles from the insured's premises. The loss of
electrical power causes meals inside the insured's freezer to thaw and ruin. Coverage for this
loss is
CORRECT ANSWER: Excluded because the power failure came about off the house
premises.
A time period used to indicate a partial loss attributable to a sacrifice of shipment to store
closing property (jettison) Each birthday celebration then stocks within the loss in proportion to
their total hobby in belongings being transported
CORRECT ANSWER: General Average
A written settlement that includes all clauses, riders, endorsements and papers is known as:
CORRECT ANSWER: Policy
ABC, Inc., is a huge, country wide store that sells a ramification of customer items. ABC
contains a Commercial Package Policy that consists of Insurance Services Office's Commercial
Crime Coverage Form (Loss Sustained) with the subsequent insuring agreements: Employee
Theft; Forgery or Alteration; Inside the Premises—Theft of Money and Securities; and Inside the
Premises—Robbery or Safe Burglary of Other Property. The limit of coverage for every this type
of insuring agreements is $a hundred,000 and the deductible in line with occurrence for every
this type of insuring agreements is $1,000. The policy 12 months is 20X1. During 20X1,
personnel, Beth and Jim, in collusion, stole money and products from ABC. Beth and Jim stole
cash on May 1, 20X1 and August 13, 20X1. They also stole products on January 15, 20X1 and
September 29, 20X1. The quantity of the cash loss totaled $15,000 even as the quantity of the
merchandise loss totaled $110,000. W
CORRECT ANSWER: $100,000
Adam and his insurer disagree on the quantity of a loss protected through his homeowners
policy. Adam wishes the insurer to pay $10,000 toward the loss. The insurer's representative
feels that the loss need to be worth $5,000. How could the appraisal technique resolve this
example?
CORRECT ANSWER: Adam and the insurer will each pick out an appraiser, and the 2
appraisers will publish their variations to an unbiased umpire who will attain a decision.
After a loss the insured need to do all the following except:
CORRECT ANSWER: Discontinue premium bills All "hold-out" and "take-out" plans of
, Citizens are challenge to the statute.
CORRECT ANSWER: Consumer Choice
All of the following are BI and PD exclusions underneath the CGL EXCEPT:
CORRECT ANSWER: Excessive Liability
All of the following are controlled Commercial Inland Marine strains EXCEPT:
CORRECT ANSWER: Annual Transit
All of the following are insurance extensions observed within the Building and Personal Property
Coverage form besides:
CORRECT ANSWER: Off premises signal insurance up to $2,500
All of the subsequent are deductibles for FAJUA Physical Damage Coverage EXCEPT:
CORRECT ANSWER: $2,500
All of the following are eligible for a homeowners coverage EXCEPT:
CORRECT ANSWER: Owner-occupants of a 1-6 family dwelling
All of the subsequent are eligible for the PAP coverage EXCEPT:
CORRECT ANSWER: Corporations
All of the following are exclusions beneath Garage Insurance Physical Damage coverage
EXCEPT:
CORRECT ANSWER: Expected losses
All of the subsequent are Major Medical Insurance exclusions EXCEPT:
CORRECT ANSWER: Cosmetic surgery required by using coincidence
All of the subsequent are not real regarding belongings coverages below the Businessowners
policy EXCEPT:
CORRECT ANSWER: ACV on personal property
All of the following are Optional Coverages beneath the Buisnessowners coverage EXCEPT:
CORRECT ANSWER: Collapse
All of the subsequent are consequences under the Florida No-Fault Law EXCEPT:
CORRECT ANSWER: SR 22 denied
All of the following are real of the Supplemental Extended Reporting Period (SERP) underneath
a Claims-made CGL coverage besides:
CORRECT ANSWER: The insurance is automated and want no longer be requested with the
aid of the insured.
All of the following can be an insured underneath the Lawyers Professional Liability coverage
EXCEPT:
CORRECT ANSWER: Lawyers for their offerings after termination
