Florida 4-40 Test Exam Questions with 100%
Correct Answers Transferring the risk to an insurance company is known as what? Correct Answer Insurance
When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what? Correct Answer Endorsement
George and Sandy only home which was damaged by fire who has insurable interest Correct Answer George and Sandy
What is the most common loss settlement valuation in the property policies? Correct Answer Actual cash value
The insurance company pays the insured for damages that should have been collected from the app fault party now the insured right to seek damages from the airport party are transferred to his insurance company what best describes this concept Correct Answer Subrogation
PIP Correct Answer Personal Injury Protection
Pip coverage is Correct Answer Primary
Tort Immunity Correct Answer Relief for persons who have suffered harm from the wrongful acts of others
Extend PIP Correct Answer To fill percentage gaps
Additional PIP increases limits to... Correct Answer Increase dollar limit only 10,000 to 25,000 or more
Under Florida law what are the benefits payable for medical expenses Correct Answer 80%
Under Florida law what are the benefits payable for lost wages Correct Answer Up to 60%
Death benefits Correct Answer 5,000
Deductibles are how much Correct Answer $250,$500,$1000
Cease to defend Correct Answer Limits exhausted by payment Before an owner of a vehicle can't obtain a license plate and tag registration the owner must purchase PIP coverage in property damage liability coverage in the amount of Correct Answer $10,000
When will the individuals be requested to prove they are financially capable three different times Correct Answer At the time of an accident ( 2 )a major traffic violation and (3) an insurance vehicle is used in a felony
The minimum liability limits bar Correct Answer 10/20/10
Which of the following does not trigger financial responsibility Correct Answer An accident with a small amount of property damage
FR-44 is for Correct Answer People who are convicted of dui or dwi
If convicted of a dui or dwi insured must Correct Answer Piggy 100% of the premium in advance also carry 100/300/50 liability insurance coverage for 3 years
How long with the insured receive medical care when qualifying under medical payments Correct Answer Medical Expenses and funeral services three years from date
of accident regardless of fault
Jon is walking across the street to go to the county fair and he is trucks as a pedestrian buy a motorcycle which of the following provides coverage? Correct Answer Medical payments
There is no deductible on Correct Answer Windshield damage
Rental coverage cost Correct Answer $20 a day / $600 maximum
If the insured wants to purchase coverage for a non-owned auto when he uses the vehicle for business or the car is furnished or his regular use or when he carries people or property for a fee what would he purchase Correct Answer The extended non-owned endorsement
If the insured wants to purchase coverage for a motorhome motorcycle all terrain vehicle golf cart or June buggy how can he acquire the coverage under Pap? Correct Answer The miscellaneous type vehicle endorsement
What is that Applicable time frame for insurer to send Notification of cancellation or non-
renewal Correct Answer 45 days
What is not eligible for Fajua? Correct Answer A nonresident owning property in Florida
Correct Answers Transferring the risk to an insurance company is known as what? Correct Answer Insurance
When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what? Correct Answer Endorsement
George and Sandy only home which was damaged by fire who has insurable interest Correct Answer George and Sandy
What is the most common loss settlement valuation in the property policies? Correct Answer Actual cash value
The insurance company pays the insured for damages that should have been collected from the app fault party now the insured right to seek damages from the airport party are transferred to his insurance company what best describes this concept Correct Answer Subrogation
PIP Correct Answer Personal Injury Protection
Pip coverage is Correct Answer Primary
Tort Immunity Correct Answer Relief for persons who have suffered harm from the wrongful acts of others
Extend PIP Correct Answer To fill percentage gaps
Additional PIP increases limits to... Correct Answer Increase dollar limit only 10,000 to 25,000 or more
Under Florida law what are the benefits payable for medical expenses Correct Answer 80%
Under Florida law what are the benefits payable for lost wages Correct Answer Up to 60%
Death benefits Correct Answer 5,000
Deductibles are how much Correct Answer $250,$500,$1000
Cease to defend Correct Answer Limits exhausted by payment Before an owner of a vehicle can't obtain a license plate and tag registration the owner must purchase PIP coverage in property damage liability coverage in the amount of Correct Answer $10,000
When will the individuals be requested to prove they are financially capable three different times Correct Answer At the time of an accident ( 2 )a major traffic violation and (3) an insurance vehicle is used in a felony
The minimum liability limits bar Correct Answer 10/20/10
Which of the following does not trigger financial responsibility Correct Answer An accident with a small amount of property damage
FR-44 is for Correct Answer People who are convicted of dui or dwi
If convicted of a dui or dwi insured must Correct Answer Piggy 100% of the premium in advance also carry 100/300/50 liability insurance coverage for 3 years
How long with the insured receive medical care when qualifying under medical payments Correct Answer Medical Expenses and funeral services three years from date
of accident regardless of fault
Jon is walking across the street to go to the county fair and he is trucks as a pedestrian buy a motorcycle which of the following provides coverage? Correct Answer Medical payments
There is no deductible on Correct Answer Windshield damage
Rental coverage cost Correct Answer $20 a day / $600 maximum
If the insured wants to purchase coverage for a non-owned auto when he uses the vehicle for business or the car is furnished or his regular use or when he carries people or property for a fee what would he purchase Correct Answer The extended non-owned endorsement
If the insured wants to purchase coverage for a motorhome motorcycle all terrain vehicle golf cart or June buggy how can he acquire the coverage under Pap? Correct Answer The miscellaneous type vehicle endorsement
What is that Applicable time frame for insurer to send Notification of cancellation or non-
renewal Correct Answer 45 days
What is not eligible for Fajua? Correct Answer A nonresident owning property in Florida
