FLORIDA 2-20 EXAM LATEST
Mr. Jones has a Homeowner's, HO3 policy. He left his golf clubs in his
unlocked automobile. The automobile was parked at a shopping center
when someone stole the golf clubs. Which of the following statements is
true?
Select one:
A. The claim was not covered because the automobile was unlocked
B. The loss, less the deductible, would be paid
C. The claim was not covered because the property was off his premises
D. The claim was not covered by the HO3 form because of a limitation
in the policy - ANSWERS-B. The loss, less the deductible, would be
paid
Which of the following are exclusions under all of the Causes of Loss
Forms (Basic, Broad, and Special) attached to the Commercial Property
coverage?
Select one:
A. Seizure or destruction by governmental authority except destruction
to prevent the spread of fire
B. Loss from a power failure, which occurs away from the insured's
premises
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, FLORIDA 2-20 EXAM LATEST
C. Earth movement (other than sinkhole collapse), except losses
resulting in Fire and Explosion
D. All of these answers are correct - ANSWERS-D. All of these answers
are correct
What role does state regulation play in a legitimate ERISA plan?
Select one:
A. There is no regulation over ERISA plans
B. All of these answers are correct
C. State insurance regulation does still apply to an insurer that may be
financially responsible for the payment of claims and any forms utilized
in an insured ERISA plan
D. The state regulates any ERISA plan in the same way it regulates any
authorized insurer - ANSWERS-C. State insurance regulation does still
apply to an insurer that may be financially responsible for the payment
of claims and any forms utilized in an insured ERISA plan
The insured has a "Guaranteed Renewable" major medical policy. This
means:
Select one:
A. The carrier cannot refuse to renew, even if the premium is not paid
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, FLORIDA 2-20 EXAM LATEST
B. The carrier must renew the policy to a certain age (usually 65); also
the carrier reserves the right to increase premiums in certain
underwriting classes
C. The carrier cannot cancel coverage, but can require a new application
each year
D. The carrier must renew the policy under all circumstances -
ANSWERS-B. The carrier must renew the policy to a certain age
(usually 65); also the carrier reserves the right to increase premiums in
certain underwriting classes
Under a Personal Articles Floater a man and his wife had an individually
scheduled ring covered for $75,000. They later purchased a ring for
$150,000 and did not report the purchase to the insurer for two days.
Before the purchase was reported, the $150,000 ring was stolen. How
would the claim be settled?
Select one:
A. The Insurer would pay $10,000 (25% of the current coverage,
maximum of $10,000)
B. The Insurer would pay 25% of $150,000
C. The Insurer would pay $75,000
D. The Insurer would pay $150,000 - ANSWERS-A. The Insurer would
pay $10,000 (25% of the current coverage, maximum of $10,000)
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, FLORIDA 2-20 EXAM LATEST
Under which of the following conditions should the "Building
Ordinance" optional coverages be considered?
Select one:
A. If the insured's building is not in accordance with current building
and zoning laws
B. Two of these answers are correct
C. If the community has an ordinance, which requires demolition of the
undamaged portions of the building after a partial loss
D. None of these answers are correct - ANSWERS-B. Two of these
answers are correct
The Physicians, Surgeons and Dentist Professional Liability policy
covers which of the following by endorsement?
Select one:
A. Nurses
B. Veterinarians
C. Blood Banks
D. All of these answers are correct - ANSWERS-D. All of these answers
are correct
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4
Mr. Jones has a Homeowner's, HO3 policy. He left his golf clubs in his
unlocked automobile. The automobile was parked at a shopping center
when someone stole the golf clubs. Which of the following statements is
true?
Select one:
A. The claim was not covered because the automobile was unlocked
B. The loss, less the deductible, would be paid
C. The claim was not covered because the property was off his premises
D. The claim was not covered by the HO3 form because of a limitation
in the policy - ANSWERS-B. The loss, less the deductible, would be
paid
Which of the following are exclusions under all of the Causes of Loss
Forms (Basic, Broad, and Special) attached to the Commercial Property
coverage?
Select one:
A. Seizure or destruction by governmental authority except destruction
to prevent the spread of fire
B. Loss from a power failure, which occurs away from the insured's
premises
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PAGE
1
, FLORIDA 2-20 EXAM LATEST
C. Earth movement (other than sinkhole collapse), except losses
resulting in Fire and Explosion
D. All of these answers are correct - ANSWERS-D. All of these answers
are correct
What role does state regulation play in a legitimate ERISA plan?
Select one:
A. There is no regulation over ERISA plans
B. All of these answers are correct
C. State insurance regulation does still apply to an insurer that may be
financially responsible for the payment of claims and any forms utilized
in an insured ERISA plan
D. The state regulates any ERISA plan in the same way it regulates any
authorized insurer - ANSWERS-C. State insurance regulation does still
apply to an insurer that may be financially responsible for the payment
of claims and any forms utilized in an insured ERISA plan
The insured has a "Guaranteed Renewable" major medical policy. This
means:
Select one:
A. The carrier cannot refuse to renew, even if the premium is not paid
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PAGE
2
, FLORIDA 2-20 EXAM LATEST
B. The carrier must renew the policy to a certain age (usually 65); also
the carrier reserves the right to increase premiums in certain
underwriting classes
C. The carrier cannot cancel coverage, but can require a new application
each year
D. The carrier must renew the policy under all circumstances -
ANSWERS-B. The carrier must renew the policy to a certain age
(usually 65); also the carrier reserves the right to increase premiums in
certain underwriting classes
Under a Personal Articles Floater a man and his wife had an individually
scheduled ring covered for $75,000. They later purchased a ring for
$150,000 and did not report the purchase to the insurer for two days.
Before the purchase was reported, the $150,000 ring was stolen. How
would the claim be settled?
Select one:
A. The Insurer would pay $10,000 (25% of the current coverage,
maximum of $10,000)
B. The Insurer would pay 25% of $150,000
C. The Insurer would pay $75,000
D. The Insurer would pay $150,000 - ANSWERS-A. The Insurer would
pay $10,000 (25% of the current coverage, maximum of $10,000)
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PAGE
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, FLORIDA 2-20 EXAM LATEST
Under which of the following conditions should the "Building
Ordinance" optional coverages be considered?
Select one:
A. If the insured's building is not in accordance with current building
and zoning laws
B. Two of these answers are correct
C. If the community has an ordinance, which requires demolition of the
undamaged portions of the building after a partial loss
D. None of these answers are correct - ANSWERS-B. Two of these
answers are correct
The Physicians, Surgeons and Dentist Professional Liability policy
covers which of the following by endorsement?
Select one:
A. Nurses
B. Veterinarians
C. Blood Banks
D. All of these answers are correct - ANSWERS-D. All of these answers
are correct
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PAGE
4
