Florida Insurance Exam Questions And
Answers
___v/v___v/v___vmustvbevcarriedv-vCORRECTvvANSWER-10v/v20v/v10
"collision"v-vCORRECTvvANSWER-isvthevupsetv(rollover)vorvimpactvwithvanothervobject
"othervthanvcollision"v-vCORRECTvvANSWER-
coversvallvdirectvanvaccidentalvlossesvnotvcoveredvbyvcollisionvexceptvasvexcluded
3vtriggersvofvthevlaw:v-vCORRECTvvANSWER-1.vaccidentvinvolvingvbodilyvinjury
2.vaccidentvinvolvingvpropertyvdamagevwhenvvehiclevisvinvoperative
3.vaccidentvinvolvingvtrafficvviolationsvsuchvasvDUIvandvcommittingvavfelony
4vpenaltiesvforvnotvshowingvfinancialvresponsibilityv-vCORRECTvvANSWER-
1.vdriversvlicensevsuspended
2.vregistrationvofvallvvehiclesvsuspended
3.vownervorvoperatorvresponsiblevforvupvtov10/20/10
4.vfilevSRvdashv22vthatvcertifiedvcoveragevisvinvavfact,vfiledvforv3vyears
Avcontingencyvthatvmayvcausevavlossvsuchvasvfirev-vCORRECTvvANSWER-peril
abandonmentv-vCORRECTvvANSWER-
insuredvcannotvdumpvdamagedvpropertyvonvthevinsurervandvdemandvitsvfullvvalue
actualvcashvvaluev-vCORRECTvvANSWER-
isvthevcurrentvcostvtovreplacevthevitemvminusvdepreciation
agreedvvaluev-vCORRECTvvANSWER-specificvamountvagreedvinvadvance
allvofvthevfollowingvarevcharacteristicsvofvinvinsurancevcontractvexceptv-
vCORRECTvvANSWER-private
Anvinsuredvisvcarryingvavpolicyvforvfirevonlyvonvavdwellingvandvitsvcontents.vavsmallvfirevstartsv
invthevkitchenvandvinvthevprocessvofvputtingvoutvthevfire,vsomevofvthevcontentsvofvthevdwelling
, varevdamagedvtovthevcontentsvwouldvbevcoveredvbyvthevpolicyvbecausev-
vCORRECTvvANSWER-firevwasvavproximatevcause
anvoccurrencevisvbestvdescribedvasv-vCORRECTvvANSWER-
anvexpectedvevent,vincludingvcontinuousvorvrepeatedvexposurevtovconditions
anvoralvorvwrittenvstatementvprovidingvimmediatevinsurancevprotection,vvalidvforvavspecified
vperiod.vdesignedvtovprovidevtemporaryvcoveragevuntilvavpolicyvcanvbevissuedvorvdeniedv-
vCORRECTvvANSWER-binder
anvunexpectedvorvunusualveventvthatvisvthevresultvofvavsuddenvhappeningvisv-
vCORRECTvvANSWER-accident
andvinsurancevcontractvwhichvmayvcontainvavgreyvareavorvanvambiguityvisvgenerallyvresolve
dvinvfavorvofvthevinsuredvbecausevinsurancevisvavcontactvofv-vCORRECTvvANSWER-
adhesion
appraisalv-vCORRECTvvANSWER-
differencesvbetweenvinsurervandvinsuredvaboutvthevamountvofvthevloss
assignmentv-vCORRECTvvANSWER-
Clausevspecifiesvthatvtransferringvthevpolicyvtovanothervwillvnotvbevvalidvunlessvthevinsurervc
onsentsvinvwriting
Bindersv-vCORRECTvvANSWER-temporaryvinsurancevwhichvcanvbevmadevorallyvorvwritten
BlanketvInsurancev-vCORRECTvvANSWER-
avsinglevamountvofvcoveragevthatvappliesvtovtwovorvmorevcoveragevitems
bodilyvinjuryv-vCORRECTvvANSWER-bodilyvharm,vsickness,vorvdiseasevresultingvinvdeath
businessv-vCORRECTvvANSWER-meansvtrade,vprofession,vorvoccupation
coinsurancev-vCORRECTvvANSWER-
avmethodvofvencouragingvthevinsuredvtovacceptvthevresponsibilityvofvensuringvforvthevamou
ntvclosevtovthevvaluevofvthevproperty.vCoinsurancevisvprimarilyvusedvinvcommercialvpoliciesv
andvvaluesvvaryvfromv80vtov100%
coinsurancevrequiresvthevinsuredvtovcarryvavminimumvamountvofvinsurancevonvthevbuildingv
orvbevresponsiblevforvavportionvofvavpartialvloss.vallvofvthevfollowingvarevfactorsvusedvinvdeter
miningvthevCo-insuredvlossvsettlementvexceptv-vCORRECTvvANSWER-deductible
concealmentv-vCORRECTvvANSWER-
isvwhenvthevinsuredvfailsvtovrevealvrelevantvfactsvtovthevinsurer
Answers
___v/v___v/v___vmustvbevcarriedv-vCORRECTvvANSWER-10v/v20v/v10
"collision"v-vCORRECTvvANSWER-isvthevupsetv(rollover)vorvimpactvwithvanothervobject
"othervthanvcollision"v-vCORRECTvvANSWER-
coversvallvdirectvanvaccidentalvlossesvnotvcoveredvbyvcollisionvexceptvasvexcluded
3vtriggersvofvthevlaw:v-vCORRECTvvANSWER-1.vaccidentvinvolvingvbodilyvinjury
2.vaccidentvinvolvingvpropertyvdamagevwhenvvehiclevisvinvoperative
3.vaccidentvinvolvingvtrafficvviolationsvsuchvasvDUIvandvcommittingvavfelony
4vpenaltiesvforvnotvshowingvfinancialvresponsibilityv-vCORRECTvvANSWER-
1.vdriversvlicensevsuspended
2.vregistrationvofvallvvehiclesvsuspended
3.vownervorvoperatorvresponsiblevforvupvtov10/20/10
4.vfilevSRvdashv22vthatvcertifiedvcoveragevisvinvavfact,vfiledvforv3vyears
Avcontingencyvthatvmayvcausevavlossvsuchvasvfirev-vCORRECTvvANSWER-peril
abandonmentv-vCORRECTvvANSWER-
insuredvcannotvdumpvdamagedvpropertyvonvthevinsurervandvdemandvitsvfullvvalue
actualvcashvvaluev-vCORRECTvvANSWER-
isvthevcurrentvcostvtovreplacevthevitemvminusvdepreciation
agreedvvaluev-vCORRECTvvANSWER-specificvamountvagreedvinvadvance
allvofvthevfollowingvarevcharacteristicsvofvinvinsurancevcontractvexceptv-
vCORRECTvvANSWER-private
Anvinsuredvisvcarryingvavpolicyvforvfirevonlyvonvavdwellingvandvitsvcontents.vavsmallvfirevstartsv
invthevkitchenvandvinvthevprocessvofvputtingvoutvthevfire,vsomevofvthevcontentsvofvthevdwelling
, varevdamagedvtovthevcontentsvwouldvbevcoveredvbyvthevpolicyvbecausev-
vCORRECTvvANSWER-firevwasvavproximatevcause
anvoccurrencevisvbestvdescribedvasv-vCORRECTvvANSWER-
anvexpectedvevent,vincludingvcontinuousvorvrepeatedvexposurevtovconditions
anvoralvorvwrittenvstatementvprovidingvimmediatevinsurancevprotection,vvalidvforvavspecified
vperiod.vdesignedvtovprovidevtemporaryvcoveragevuntilvavpolicyvcanvbevissuedvorvdeniedv-
vCORRECTvvANSWER-binder
anvunexpectedvorvunusualveventvthatvisvthevresultvofvavsuddenvhappeningvisv-
vCORRECTvvANSWER-accident
andvinsurancevcontractvwhichvmayvcontainvavgreyvareavorvanvambiguityvisvgenerallyvresolve
dvinvfavorvofvthevinsuredvbecausevinsurancevisvavcontactvofv-vCORRECTvvANSWER-
adhesion
appraisalv-vCORRECTvvANSWER-
differencesvbetweenvinsurervandvinsuredvaboutvthevamountvofvthevloss
assignmentv-vCORRECTvvANSWER-
Clausevspecifiesvthatvtransferringvthevpolicyvtovanothervwillvnotvbevvalidvunlessvthevinsurervc
onsentsvinvwriting
Bindersv-vCORRECTvvANSWER-temporaryvinsurancevwhichvcanvbevmadevorallyvorvwritten
BlanketvInsurancev-vCORRECTvvANSWER-
avsinglevamountvofvcoveragevthatvappliesvtovtwovorvmorevcoveragevitems
bodilyvinjuryv-vCORRECTvvANSWER-bodilyvharm,vsickness,vorvdiseasevresultingvinvdeath
businessv-vCORRECTvvANSWER-meansvtrade,vprofession,vorvoccupation
coinsurancev-vCORRECTvvANSWER-
avmethodvofvencouragingvthevinsuredvtovacceptvthevresponsibilityvofvensuringvforvthevamou
ntvclosevtovthevvaluevofvthevproperty.vCoinsurancevisvprimarilyvusedvinvcommercialvpoliciesv
andvvaluesvvaryvfromv80vtov100%
coinsurancevrequiresvthevinsuredvtovcarryvavminimumvamountvofvinsurancevonvthevbuildingv
orvbevresponsiblevforvavportionvofvavpartialvloss.vallvofvthevfollowingvarevfactorsvusedvinvdeter
miningvthevCo-insuredvlossvsettlementvexceptv-vCORRECTvvANSWER-deductible
concealmentv-vCORRECTvvANSWER-
isvwhenvthevinsuredvfailsvtovrevealvrelevantvfactsvtovthevinsurer
