20-44 Personal Lines Agent 2025/2026
Exam Questions and Correct Answers |
New Update
the cost to replace an item or property at the time of loss, minus
depreciation - 🧠ANSWER ✔✔Actual Cash Value (ACV)
a type of policy limit which limits coverage to a specified total amount for all
losses occuring w/in the policy period - 🧠ANSWER ✔✔Aggregate Limit
conviction of a 3rd degree felony, liability for all unpaid claims, suspencion
or revocation of all insurance licenses - 🧠ANSWER ✔✔Aiding and Abetting
an unathorized insurer
insurer other than a domestic or foreign insurer - 🧠ANSWER ✔✔Alien
,"open perils" insurance - protecting the insured from loss arising from any
peril other than those perils specifically excluded by name - 🧠ANSWER
✔✔All Risk Insurance
the authority given by an insurer or employer to a licensee to transact
insurance or adjust claims on behalf of an insurer or employer - 🧠ANSWER
✔✔Appointment
in the event the insured and the insurer cannot agree on amount of claim
settlement, each appoints an appraiser - 🧠ANSWER ✔✔Appraisal Clause
policy transfer from one insured to another - 🧠ANSWER ✔✔Assignment
one authorized by a subsisting certificate of authority issued by the
department to transact insurance in this state - 🧠ANSWER ✔✔Authorized
insurer
an oral/written statement providing immediate insurance protection, valid
for a specified period. Designed to provide temporary coverage until a
policy can be issued or denied - 🧠ANSWER ✔✔Binder
single amount of coverage applies to ANY loss of injury up to the single
amount - 🧠ANSWER ✔✔Blanket Insurance
,a method of determing the true insurable worth of a structure or vehicle
according to any measure that will prvoide the most accurate analysis of
that property's value - 🧠ANSWER ✔✔Broad Evidence Rule
an originating general lines agent placing business w/ a company w/ which
he/she is not appointed - 🧠ANSWER ✔✔Brokering Agent
monitors the conduct of insurers as it realtes to policyholder treatment -
🧠ANSWER ✔✔Bureau of Market Conduct
insurer may cancel only for non payment of premium, material
misrepresentation or fraud, or suspension or revocation of the DL or
registration of vehicle. - 🧠ANSWER ✔✔Cancellation after 60 days of new
policy or renewal
F.S states an insurer can cancel for any reason except discrimination with
respect to race, color, national origin, creed, marital status or sex. -
🧠ANSWER ✔✔Cancellation during the first 60 Days of a new policy
a company that provides risk mitigation services for its parent company -
🧠ANSWER ✔✔Captive Insurance Company
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, specifies what perils are insured against and lists exclusions. Several
different versions provide increasingly broad coverage from Basic to Broad
to special. - 🧠ANSWER ✔✔Causes of Loss Form
- act as an insurer - transact insurance (directly or indirectly) - solicit
insurance applications If does so w/out certificate, commits 3rd degree
felony - 🧠ANSWER ✔✔Certificate of Authority
the head of the department of financial services, also known as the
treasurer. - 🧠ANSWER ✔✔Chief Financial Officer
Merged together in 2001 from FRPCJUA and FWUA to provide a market
for those residential Properties unable to obtain Coverage in Voluntary
market - 🧠ANSWER ✔✔Citizens
lower rates for insureds who insure a high percentage of the value of the
subject property - 🧠ANSWER ✔✔Coinsurance
requires insured to pay part of loss if coverage is less than the specified
percentage of the value of the property at the time of loss FORMULA: Loss
x (Limit of Insurance/Value of Property x Coinsurance %) = Loss
Settlement - 🧠ANSWER ✔✔Coinsurance Clause
Exam Questions and Correct Answers |
New Update
the cost to replace an item or property at the time of loss, minus
depreciation - 🧠ANSWER ✔✔Actual Cash Value (ACV)
a type of policy limit which limits coverage to a specified total amount for all
losses occuring w/in the policy period - 🧠ANSWER ✔✔Aggregate Limit
conviction of a 3rd degree felony, liability for all unpaid claims, suspencion
or revocation of all insurance licenses - 🧠ANSWER ✔✔Aiding and Abetting
an unathorized insurer
insurer other than a domestic or foreign insurer - 🧠ANSWER ✔✔Alien
,"open perils" insurance - protecting the insured from loss arising from any
peril other than those perils specifically excluded by name - 🧠ANSWER
✔✔All Risk Insurance
the authority given by an insurer or employer to a licensee to transact
insurance or adjust claims on behalf of an insurer or employer - 🧠ANSWER
✔✔Appointment
in the event the insured and the insurer cannot agree on amount of claim
settlement, each appoints an appraiser - 🧠ANSWER ✔✔Appraisal Clause
policy transfer from one insured to another - 🧠ANSWER ✔✔Assignment
one authorized by a subsisting certificate of authority issued by the
department to transact insurance in this state - 🧠ANSWER ✔✔Authorized
insurer
an oral/written statement providing immediate insurance protection, valid
for a specified period. Designed to provide temporary coverage until a
policy can be issued or denied - 🧠ANSWER ✔✔Binder
single amount of coverage applies to ANY loss of injury up to the single
amount - 🧠ANSWER ✔✔Blanket Insurance
,a method of determing the true insurable worth of a structure or vehicle
according to any measure that will prvoide the most accurate analysis of
that property's value - 🧠ANSWER ✔✔Broad Evidence Rule
an originating general lines agent placing business w/ a company w/ which
he/she is not appointed - 🧠ANSWER ✔✔Brokering Agent
monitors the conduct of insurers as it realtes to policyholder treatment -
🧠ANSWER ✔✔Bureau of Market Conduct
insurer may cancel only for non payment of premium, material
misrepresentation or fraud, or suspension or revocation of the DL or
registration of vehicle. - 🧠ANSWER ✔✔Cancellation after 60 days of new
policy or renewal
F.S states an insurer can cancel for any reason except discrimination with
respect to race, color, national origin, creed, marital status or sex. -
🧠ANSWER ✔✔Cancellation during the first 60 Days of a new policy
a company that provides risk mitigation services for its parent company -
🧠ANSWER ✔✔Captive Insurance Company
3
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
, specifies what perils are insured against and lists exclusions. Several
different versions provide increasingly broad coverage from Basic to Broad
to special. - 🧠ANSWER ✔✔Causes of Loss Form
- act as an insurer - transact insurance (directly or indirectly) - solicit
insurance applications If does so w/out certificate, commits 3rd degree
felony - 🧠ANSWER ✔✔Certificate of Authority
the head of the department of financial services, also known as the
treasurer. - 🧠ANSWER ✔✔Chief Financial Officer
Merged together in 2001 from FRPCJUA and FWUA to provide a market
for those residential Properties unable to obtain Coverage in Voluntary
market - 🧠ANSWER ✔✔Citizens
lower rates for insureds who insure a high percentage of the value of the
subject property - 🧠ANSWER ✔✔Coinsurance
requires insured to pay part of loss if coverage is less than the specified
percentage of the value of the property at the time of loss FORMULA: Loss
x (Limit of Insurance/Value of Property x Coinsurance %) = Loss
Settlement - 🧠ANSWER ✔✔Coinsurance Clause
