Florida 2-20 Questions And Answers

Florida 2-20 Questions And Answers
A.v$100,000/$300,000vBodilyvInjuryvandv$50,000vPropertyvDamagev-
vCORRECTvvANSWER-

UndervFAJUA,vthevmaximumvlimitsvforvBodilyvInjuryvandvPropertyvDamagevare:
Selectvone:
A.v$100,000/$300,000vBodilyvInjuryvandv$50,000vPropertyvDamagev
B.v$100,000/$300,000vBodilyvInjuryvandv$25,000vPropertyvDamagev
C.vNovMaximumv
D.v$250,000/$500,000vBodilyvInjuryvandv$100,000vPropertyvDamage

A.v$500v-vCORRECTvvANSWER-
Joevcarriesv$2,000vMedicalvPaymentsvcoveragevonvhisvautomobile.vJoe'svdaughtervusedvav
friend'svautomobilevandvwasvinvolvedvinvanvaccidentvresultingvinv$3,500vinvmedicalvbills.vTh
evfriendvcarriesvMedicalvPaymentsvcoveragevinvthevamountvofv$3,000.vHowvmuchvwillvJoe's
vpolicyvpay,vifvany?v(IgnorevPersonalvInjuryvProtectionvcoverage)

Selectvone:
A.v$500v
B.v$1,500v
C.v$3,000v
D.vNone

A.vAvflatvamountvpervdayvforvhospitalvroomvandvboardv-vCORRECTvvANSWER-
AvHospitalvIndemnityvPolicyvcoversvwhichvofvthevfollowingvexpenses?
Selectvone:
A.vAvflatvamountvpervdayvforvhospitalvroomvandvboardv
B.vNursingvcarevinvthevinsured'svhomev
C.vMedicalvsuppliesv
D.vSurgicalvfeesvincurredvinvthevhospital

A.vAvgenuinevsingle-
employervERISAvplanvisvnotvsubjectvtovdirectvstatevinsurancevregulationv-
vCORRECTvvANSWER-IsvavlegitimatevERISAvSelf-

Insurancevplanvnecessarilyvanvinsurancevplanvsubjectvtovstatevregulation?
Selectvone:

,A.vAvgenuinevsingle-
employervERISAvplanvisvnotvsubjectvtovdirectvstatevinsurancevregulationv
B.vAvlegitimatevERISAvSelf-Insurancevplanvisvnevervdeemedvtovbevinsurancev
C.vNonevofvthesevanswersvarevcorrectv
D.vAvlegitimatevERISAvSelf-Insurancevplanvisvalwaysvdeemedvtovbevinsurance

A.vAvtruckvcranev-vCORRECTvvANSWER-
AvBusinessvAutovPolicyv(BAP)vcoversvallvofvthevfollowingvexcept:
Selectvone:
A.vAvtruckvcranev
B.vAvprivatevpassengervautomobilevownedvbyvcorporationv
C.vAvsemi-trailerv
D.vAvpickupvtruck

A.vAllvofvthesevanswersvarevcorrectv-vCORRECTvvANSWER-
Unlessvproperlyvlicensedvanvgeneralvlinesvagentvcannot
Selectvone:
A.vAllvofvthesevanswersvarevcorrectv
B.vReceivevanyvmoneyvonvaccountvforvanyvinsurervorvreceivevmoneyvtovbevtransmittedvtovan
vinsurervforvavpolicy,vrenewal,vendorsementvorvcertificatev

C.vSolicitvinsurancevorvprocurevapplicationsvforvinsurancev
D.vDirectlyvorvindirectlyvrepresentvhimselfvorvherselfvtovbevanvagentvorvreceive,vdelivervorvfor
wardvanyvinsurancevpolicyvwithinvthevstate

A.vAllvofvthesevanswersvarevcorrectv-vCORRECTvvANSWER-
WhatvarevthevrulesvthatvallowvforvstatevregulationvofvMEWAs?
Selectvone:
A.vAllvofvthesevanswersvarevcorrectv
B.vIfvnotvfullyvinsured,vthevMEWAvisvsubjectvtovallvstatevinsurancevlawsvnotvinconsistentvwithv
ERISAv
C.vAvMEWAvthatvisvnotvanvemployeevbenefitvplanvisvsubjectvtovstatevinsurancevregulationv
D.vIfvfullyvinsured,vthevMEWAvremainsvsubjectvtovstatevregulation

A.vAllvofvthesevanswersvarevcorrectv-vCORRECTvvANSWER-
WhichvofvthevfollowingvarevcoveredvasvpartvofvCoveragevAvBodilyvInjuryvandvPropertyvDama
gevofvavCommercialvGeneralvLiabilityvpolicy?
Selectvone:
A.vAllvofvthesevanswersvarevcorrectv
B.vLiabilityvduevtovone'svproductsvinjuringvothersv
C.vContingentvLiabilityvcausedvbyvavsubcontractorvofvthevinsuredv
D.vLiabilityvassumedvundervavleasevcontract

A.vAnvinsuredvcollectsvfromvhisvinsurancevcompanyvforvdamagevcausedvbyvthirdvpartyv-
vCORRECTvvANSWER-Subrogationvmayvfollowvwhichvofvthevfollowingvevents?

Selectvone:
A.vAnvinsuredvcollectsvfromvhisvinsurancevcompanyvforvdamagevcausedvbyvthirdvpartyv

, B.vAvfirefightervdamagesvthevinsured'svpropertyvwhilevextinguishingvavfirev
C.vForcesvofvnaturevdamagevthevinsured'svpropertyvwhilevextinguishingvavfirev
D.vAnvinsuredvcausesvdamagevtovhisvownvgoods

A.vBidvBond,vPerformancevBond,vPaymentvBond,vandvMaintenancevBondv-
vCORRECTvvANSWER-

Avmanvwantedvtovhavevavbuildingverectedvatvavcompetitivevprice,vcompletedvwithinvavspecifi
edvtime,vwithvworkmanshipvguaranteevforvonevyear.vWhichvbondsvarevrequired?
Selectvone:
A.vBidvBond,vPerformancevBond,vPaymentvBond,vandvMaintenancevBondv
B.vBidvBond,vPerformancevBond,vPaymentvBond,vandvSupplyvBondv
C.vBidvBond,vPaymentvBond,vSupplyvBond,vandvPermitvBondv
D.vPerformancevBondvonly

A.vConductingvsalesvworkvoutsidevofvthevagent'svofficev-vCORRECTvvANSWER-
AvCustomersvRepresentative'svauthorityvdoesvnotvinclude:
Selectvone:
A.vConductingvsalesvworkvoutsidevofvthevagent'svofficev
B.vTakingvinsurancevapplications,vgivingvquotes,vinterpretingvpolicies,vandvgivingvinsuranc
evadvicev
C.vBindingvnewvandvadditionalvcoveragesv
D.vPerformingvpreliminaryvworkvtovassistvinvprocessingvclaims

A.vFiduciaryvBondv-vCORRECTvvANSWER-
AvbondvwhichvguaranteesvthevperformancevofvonevappointedvbyvthevCourtvsuchvasvavGuard
ian,visvknownvasva:
Selectvone:
A.vFiduciaryvBondv
B.vPublicvOfficialvBondv
C.vLicensevBondv
D.vPerformancevBond

A.vMysteriousvDisappearancev-vCORRECTvvANSWER-
AvPersonalvArticlesvFloatervinvthevInlandvMarinevprogramvexcludesvallvthevfollowingvexcept
?
Selectvone:
A.vMysteriousvDisappearancev
B.vWearvandvTearv
C.vInherentvVicev
D.vInsectsvandvvermin

A.vNovcoveragev-vCORRECTvvANSWER-
Bob,vanvaccountantvofvXYZ,vdrivesvhisvownvcarvtovthevbankvtovmakevavdepositvforvXYZ.vBobv
hasvanvat-
faultvaccident.vIfvXYZvcarriesv$1,000,000vBodilyvInjury/PropertyvDamagevcoveragevwithvav