2025 Update |Florida 2-20 Agents License exam| LATEST|COMPLETE
FREQUENTLY MOST TESTED QUESTIONS WITH VERIFIED ANSWERS/ALREADY
GREADED A+ |GET IT 100% ACCURATE!!
Adam and his insurer disagree on the amount of a loss covered by his
homeowners policy. Adam wants the insurer to pay $10,000 toward the loss. The
insurer's representative feels that the loss should be valued at $5,000. How could
the appraisal process resolve this situation? - ANSWER-Adam and the insurer will
each select an appraiser, and the two appraisers will submit their differences to
an impartial umpire who will reach a resolution.
Which one of the following has special limits of liability within Coverage C of the
HO-3—Special Form (HO-3)? - ANSWER-Theft of firearms
A storm causes power lines to break ten miles from the insured's premises. The
loss of electrical power causes food in the insured's freezer to thaw and spoil.
Coverage for this loss is - ANSWER-Excluded because the power failure occurred
off the residence premises.
If law enforcement officials seize an insured's personal computer to search for
files that might be related to a crime, the insured under an HO-3—Special Form
(HO-3) may be unsuccessful in claiming a theft loss on the computer due to the -
ANSWER-Governmental Action exclusion.
,Sam and Sophia insure their house with an unendorsed HO-3—Special Form (HO-
3) policy. Sam stores a small fishing boat and trailer behind the house. While they
are out for the evening, a fire destroys most of their kitchen and completely
destroys the boat and trailer. Assuming Sam's boat and trailer are valued at
$4,000 and ignoring any deductible that may apply, what amount will their HO-3
insurer pay for the loss of the boat and trailer? - ANSWER-$1,500
The Florida Valued Policy Law applies to: - ANSWER-mobile homes
For a Dwelling Flood policy, which is correct: - ANSWER-Primary residences are
covered at replacement cost on building losses.
Sally insures her house with an unendorsed HO-3—Special Form (HO-3) with a
Coverage A—Dwelling limit of $275,000, which is the replacement cost of the
house. A fire destroys the house including a collection of blueprints belonging to
Sally's employer, valued at $10,000. Sally was storing the blueprints at her home
while her office was changing locations. Assuming no deductible applies, how
much, if any, will Sally's HO-3 insurer pay to replace the blueprints? - ANSWER-$0
One of the main factors used in developing a base premium for a homeowners
policy is - ANSWER-The public protection class.
Bert and Maggie insure their house with an unendorsed HO-3—Special Form (HO-
3) with a Coverage A—Dwelling limit of $300,000, which is the replacement cost
,of the house. A fire destroys their detached garage. The cost to replace the
garage is $35,000. Ignoring any deductible that may apply, how much will Bert
and Maggie's insurer pay to replace the detached garage? - ANSWER-$30,000
Coverage for other structures is automatically provided under the HO-3—Special
Form (HO-3) policy with a limit that is - ANSWER-10 percent of the Coverage A
limit
The Florida Surplus Service Lines Office (FSLSO) was created to - ANSWER-
oversee the surplus lines industry in the state
Which of the following is NOT a required qualification for a General Lines Agent: -
ANSWER-Seeking the license only to write controlled business
The Department of Financial Services performs the following, EXCEPT: - ANSWER-
Pays insurance claims
Once license, you have how long to obtain an appointment? - ANSWER-48 months
Which of the following is NOT a duty of the Office of Insurance Regulation? -
ANSWER-Submit rate filings and underwriting rules for approval
, Which one of the following statements is correct? - ANSWER-Contractors must
usually provide evidence of liability insurance before a construction contract is
granted.
From a risk management viewpoint, insurance is used to - ANSWER-Transfer the
cost of losses.
Liability coverage for loss exposures arising from a business organization's
premises and operations, its products, or its completed work is typically provided
by - ANSWER-Commercial general liability insurance.
Which one of the following statements is correct regarding the benefits provided
by insurance? - ANSWER-Insurance helps reduce the financial burden to society
by compensating accident victims.
Insurance is not the only risk management transfer technique. When
circumstances are appropriate, transfer can be accomplished through - ANSWER-
Noninsurance transfer techniques.
Oscar's custom-built vehicle looks like a sausage sandwich on wheels. He plans to
drive it to special events at schools around the country where it will serve as a
mobile billboard to promote his product. Oscar is surprised to learn that insurers
are reluctant to insure his vehicle because it fails to meet one of the ideal
FREQUENTLY MOST TESTED QUESTIONS WITH VERIFIED ANSWERS/ALREADY
GREADED A+ |GET IT 100% ACCURATE!!
Adam and his insurer disagree on the amount of a loss covered by his
homeowners policy. Adam wants the insurer to pay $10,000 toward the loss. The
insurer's representative feels that the loss should be valued at $5,000. How could
the appraisal process resolve this situation? - ANSWER-Adam and the insurer will
each select an appraiser, and the two appraisers will submit their differences to
an impartial umpire who will reach a resolution.
Which one of the following has special limits of liability within Coverage C of the
HO-3—Special Form (HO-3)? - ANSWER-Theft of firearms
A storm causes power lines to break ten miles from the insured's premises. The
loss of electrical power causes food in the insured's freezer to thaw and spoil.
Coverage for this loss is - ANSWER-Excluded because the power failure occurred
off the residence premises.
If law enforcement officials seize an insured's personal computer to search for
files that might be related to a crime, the insured under an HO-3—Special Form
(HO-3) may be unsuccessful in claiming a theft loss on the computer due to the -
ANSWER-Governmental Action exclusion.
,Sam and Sophia insure their house with an unendorsed HO-3—Special Form (HO-
3) policy. Sam stores a small fishing boat and trailer behind the house. While they
are out for the evening, a fire destroys most of their kitchen and completely
destroys the boat and trailer. Assuming Sam's boat and trailer are valued at
$4,000 and ignoring any deductible that may apply, what amount will their HO-3
insurer pay for the loss of the boat and trailer? - ANSWER-$1,500
The Florida Valued Policy Law applies to: - ANSWER-mobile homes
For a Dwelling Flood policy, which is correct: - ANSWER-Primary residences are
covered at replacement cost on building losses.
Sally insures her house with an unendorsed HO-3—Special Form (HO-3) with a
Coverage A—Dwelling limit of $275,000, which is the replacement cost of the
house. A fire destroys the house including a collection of blueprints belonging to
Sally's employer, valued at $10,000. Sally was storing the blueprints at her home
while her office was changing locations. Assuming no deductible applies, how
much, if any, will Sally's HO-3 insurer pay to replace the blueprints? - ANSWER-$0
One of the main factors used in developing a base premium for a homeowners
policy is - ANSWER-The public protection class.
Bert and Maggie insure their house with an unendorsed HO-3—Special Form (HO-
3) with a Coverage A—Dwelling limit of $300,000, which is the replacement cost
,of the house. A fire destroys their detached garage. The cost to replace the
garage is $35,000. Ignoring any deductible that may apply, how much will Bert
and Maggie's insurer pay to replace the detached garage? - ANSWER-$30,000
Coverage for other structures is automatically provided under the HO-3—Special
Form (HO-3) policy with a limit that is - ANSWER-10 percent of the Coverage A
limit
The Florida Surplus Service Lines Office (FSLSO) was created to - ANSWER-
oversee the surplus lines industry in the state
Which of the following is NOT a required qualification for a General Lines Agent: -
ANSWER-Seeking the license only to write controlled business
The Department of Financial Services performs the following, EXCEPT: - ANSWER-
Pays insurance claims
Once license, you have how long to obtain an appointment? - ANSWER-48 months
Which of the following is NOT a duty of the Office of Insurance Regulation? -
ANSWER-Submit rate filings and underwriting rules for approval
, Which one of the following statements is correct? - ANSWER-Contractors must
usually provide evidence of liability insurance before a construction contract is
granted.
From a risk management viewpoint, insurance is used to - ANSWER-Transfer the
cost of losses.
Liability coverage for loss exposures arising from a business organization's
premises and operations, its products, or its completed work is typically provided
by - ANSWER-Commercial general liability insurance.
Which one of the following statements is correct regarding the benefits provided
by insurance? - ANSWER-Insurance helps reduce the financial burden to society
by compensating accident victims.
Insurance is not the only risk management transfer technique. When
circumstances are appropriate, transfer can be accomplished through - ANSWER-
Noninsurance transfer techniques.
Oscar's custom-built vehicle looks like a sausage sandwich on wheels. He plans to
drive it to special events at schools around the country where it will serve as a
mobile billboard to promote his product. Oscar is surprised to learn that insurers
are reluctant to insure his vehicle because it fails to meet one of the ideal
