Florida General Lines Agent Exam questions with correct answers

What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage CORRECT ANSWER a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreement related to insurance c.A temporary agreement for insurance coverage d.A written agreement or contract for insurance coverage CORRECT ANSWER d. What is an insurance binder? a.An agreement with an insurer for coverage b.A temporary agreement for insurance coverage subject to the decision of the insurer c.A permanent agreement for insurance coverage d.An agreement with an agent CORRECT ANSWER b The term casualty is related to al