FLORIDA PROPERTY & CASUALITY INSURANCE,GLOSSARY
FOR 220 LICENSE NEWEST 2025 ACTUAL TEST BANK EXAM
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!
Which of the following is NOT true of corporate officers as they
relate to
Workers Compensation? - ANSWER-No more than 3 officers
can be exempted in non-construction operations
All of the following are considered Employment EXCEPT: -
ANSWER-A farm with six full-time employees
Which one of the following is an example of injury or damage
arising from an occurrence that would be covered by the
products and completed operations liability portion of the
Commercial General Liability (CGL) Coverage Form? -
ANSWER-A defective gas range manufactured by the insured
explodes causing injury.
Which one of the following types of risks generally would be
eligible for the businessowners policy program? - ANSWER-A
clothing store.
,Which one of the following statements is correct with respect to
the liability coverage provided by the businessowners policy
(BOP)? - ANSWER-BOP liability coverage closely resembles the
coverage provided by the occurrence version of the CGL
coverage form.
Which one of the following statements is correct with respect to
eligibility for coverage under a businessowners policy (BOP)? -
ANSWER-Some insurers have expanded the eligibility for their
BOP programs to include restaurants and contractors.
Which one of the following is true with regard to the coverage
limits in the liability section of the businessowners policy
(BOP)? - ANSWER-Maximum limits are more restricted than the
CGL; few insurers offer per occurrence limits over $2 million in
their BOPs.
Which one of the following best describes the "property not
covered" provisions of the businessowners policy (BOP)? -
ANSWER-The BOP has a relatively short list of 'property not
covered' because the insureds eligible for a BOP are generally
lower-risk, more homogenous types of businesses.
,Which one of the following statements is correct with respect to
rating a businessowners policy (BOP)? - ANSWER-It is usually
much simpler than rating a comparable commercial package
policy.
Which one of the following property coverages is often
included or available as an option in a businessowners policy
(BOP)? - ANSWER-Employee dishonesty
Under the businessowners policy (BOP) - ANSWER-Many
coverages that would require separate policies or coverage
parts in the commercial package program are either included or
available as options.
Which one of the following statements is correct with respect to
the liability coverage available under a businessowners policy
(BOP)? - ANSWER-Both ISO and AAIS offer BOP endorsements
adding employee benefit liability coverage and employment
practices liability coverage.
A Commercial Package policy may include the following
coverage types
EXCEPT: - ANSWER-Health
, Which one of the following types of business is usually eligible
for coverage under a businessowners policy? - ANSWER-
Apartment building
Which one of the following best describes one of the major
differences between liability coverage provided by the typical
businessowners policy (BOP) and the Insurance Services
Office (ISO) Commercial General Liability (CGL) Coverage
Form? - ANSWER-Hired and nonowned autos liability coverage
is usually offered by BOPs, either as part of the form or by
endorsement.
Which one of the following statements best describes how
businessowners policies (BOP) coverages compare with those
provided by commercial package policies? - ANSWER-The BOP
coverages are similar to the coverages provided under
commercial package policies.
Which one of the following is correct with respect to the
professional liability coverage available under the
businessowners policy (BOP) and the Commercial General
Liability (CGL) Coverage Form? - ANSWER-An important
difference between the BOP's liability coverage and the CGL's
FOR 220 LICENSE NEWEST 2025 ACTUAL TEST BANK EXAM
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!
Which of the following is NOT true of corporate officers as they
relate to
Workers Compensation? - ANSWER-No more than 3 officers
can be exempted in non-construction operations
All of the following are considered Employment EXCEPT: -
ANSWER-A farm with six full-time employees
Which one of the following is an example of injury or damage
arising from an occurrence that would be covered by the
products and completed operations liability portion of the
Commercial General Liability (CGL) Coverage Form? -
ANSWER-A defective gas range manufactured by the insured
explodes causing injury.
Which one of the following types of risks generally would be
eligible for the businessowners policy program? - ANSWER-A
clothing store.
,Which one of the following statements is correct with respect to
the liability coverage provided by the businessowners policy
(BOP)? - ANSWER-BOP liability coverage closely resembles the
coverage provided by the occurrence version of the CGL
coverage form.
Which one of the following statements is correct with respect to
eligibility for coverage under a businessowners policy (BOP)? -
ANSWER-Some insurers have expanded the eligibility for their
BOP programs to include restaurants and contractors.
Which one of the following is true with regard to the coverage
limits in the liability section of the businessowners policy
(BOP)? - ANSWER-Maximum limits are more restricted than the
CGL; few insurers offer per occurrence limits over $2 million in
their BOPs.
Which one of the following best describes the "property not
covered" provisions of the businessowners policy (BOP)? -
ANSWER-The BOP has a relatively short list of 'property not
covered' because the insureds eligible for a BOP are generally
lower-risk, more homogenous types of businesses.
,Which one of the following statements is correct with respect to
rating a businessowners policy (BOP)? - ANSWER-It is usually
much simpler than rating a comparable commercial package
policy.
Which one of the following property coverages is often
included or available as an option in a businessowners policy
(BOP)? - ANSWER-Employee dishonesty
Under the businessowners policy (BOP) - ANSWER-Many
coverages that would require separate policies or coverage
parts in the commercial package program are either included or
available as options.
Which one of the following statements is correct with respect to
the liability coverage available under a businessowners policy
(BOP)? - ANSWER-Both ISO and AAIS offer BOP endorsements
adding employee benefit liability coverage and employment
practices liability coverage.
A Commercial Package policy may include the following
coverage types
EXCEPT: - ANSWER-Health
, Which one of the following types of business is usually eligible
for coverage under a businessowners policy? - ANSWER-
Apartment building
Which one of the following best describes one of the major
differences between liability coverage provided by the typical
businessowners policy (BOP) and the Insurance Services
Office (ISO) Commercial General Liability (CGL) Coverage
Form? - ANSWER-Hired and nonowned autos liability coverage
is usually offered by BOPs, either as part of the form or by
endorsement.
Which one of the following statements best describes how
businessowners policies (BOP) coverages compare with those
provided by commercial package policies? - ANSWER-The BOP
coverages are similar to the coverages provided under
commercial package policies.
Which one of the following is correct with respect to the
professional liability coverage available under the
businessowners policy (BOP) and the Commercial General
Liability (CGL) Coverage Form? - ANSWER-An important
difference between the BOP's liability coverage and the CGL's
