FLORIDA PROPERTY AND CASUALTY
INSURANCE GLOSSARY FOR 220 LICENSE
FLORIDA 2-20 AGENTS LICENSE EXAM
QUESTIONS COMPLETE STUDY GUIDE EXAM
PREP
UPDATED QUESTIONS AND ANSWERS 100% VERIFIED EXAM PREP
,The FAJUA is composed of: All companies licensed to write auto insurance in Florida
A coverage that is similar to premises and operations Airport and Air Meet Liability
coverage in the Commercial General Liability Policy covering
bodily injury and property damage liability for aviation risks is
defined as:
Homeowners HO-3 policy - severe theft loss. Coverage A limit $29,000 less any deductible
is $100,000. Insured losses include $25,000 furniture, clothing
and other ordinary personal property plus $5,000 damage to
guns and $5,000 damage to jewelry, furs. Insured will recover:
Each of the following divisions falls under The Department of The Division of Consumer Activities
Financial Services EXCEPT?
Which of the following provides for loss of money and Outside the Premises
securities outside the premises in the care, custody and
control of a messenger or armored car service resulting from
theft, disappearance, or destruction?
What is the standard All Perils deductible in the Commercial $500
Property Policy?
Which of the following best describes a "Controlled" Inland Standard provisions form is written according to filed rules and rates
Marine Form?
Under a Personal Articles Floater, which of the following is Fine Arts
covered as valued property?
Under the Dwelling Program forms, vandalism is not covered 60 days
after the building has been vacant for how many days?
Under a Commercial General Liability Contract, how many 10
days notice of cancellation must the insurer provide for non-
payment of premium?
,Under Additional Coverages, how much applies for loss $1,000
assessments imposed by an association against the insured for
damage to property caused by a peril insured against under
Coverage A?
The following are basic characteristics of a Property or Loss Settlement Contract
Liability Insurance Contract EXCEPT:
Rob has PIP with a $1,000 deductible. He has an auto accident $4,000
causing $6,000 in medical bills. How much will his PIP pay? - $6,000 - $1,000 deductible = $5,000 x 80% = $4,000
QRS Construction Company wants to provide the local school Bid bond
district with a price for building a new grammar school. In - The Bid Bond is required to accompany a bid for a contract which will require that the
order to accept the price, the school board needs a bond that successful bidder furnish further bond if awarded the job. The guarantee is that if the bid
would pay the difference between QRS's price and the next is accepted, the bidder will enter into the contract and will satisfy further bonding
highest price. What kind of bond does QRS need to provide requirements for the job
to the school district?
Which of the following guarantees the payment of materials in Payment Bond
full upon completion of the work?
Which of the following events would be covered under an II and III only
HO-3? I. A sewer line became clogged and the toilet in the
house backed up and overflowed, damaging the carpet. II.
Wind blew a front door open and rain damaged the carpet. III.
The neighbor's German Shepard damaged the garage
doorframe while trying to get in the insured's garage to eat
the dog food stored there.
All of the following are located on a Boiler and Machinery Exhibits
Coverage form EXCEPT:
The Motor Truck Cargo Policy: Insures a truck carrier for liability arising out of the transportation of cargo.
All of the following are types of property that can be covered Firearms
under a Personal Articles Floater EXCEPT:
, What is the standard deductible for Employee Theft $500
coverage?
The Forgery or Alteration coverage under a Businessowners $2,000
Policy is:
How many hours of continuing education is a newly licensed 24
agent required to have for their first Continuing Education
compliance period?
Which of the following is NOT true regarding sole proprietors A maximum of three can elect to be covered
and partners in the non-construction industry as they relate to
Workers Compensation?
Which of the following is not a way to purchase Uninsured More than your bodily injury limits
Motorist Coverage?
Camden's Wood Shop will be dropping off new cabinets at a Installation Floater
jobsite on Monday, but will not actually install them until
Tuesday. What kind of policy will they need to cover any loss
to the cabinets?
This Hospital Form applies with "medical incident" defined as Blood Banks
an act or omission in furnishing of professional services
related to making of a blood donation under the supervision
of the insured:
Which of the following is not a valid deductible for hurricane 1%
in the Dwelling program?
If a loss occurs under the Building and Personal Property 180
Coverage Form with the optional replacement cost provision,
how long does the insured have to give intent to replace the
damaged item in order to receive replacement cost
adjustment?
Which of the following is NOT a common deductible in an 2%
Aircraft Hull Policy?
INSURANCE GLOSSARY FOR 220 LICENSE
FLORIDA 2-20 AGENTS LICENSE EXAM
QUESTIONS COMPLETE STUDY GUIDE EXAM
PREP
UPDATED QUESTIONS AND ANSWERS 100% VERIFIED EXAM PREP
,The FAJUA is composed of: All companies licensed to write auto insurance in Florida
A coverage that is similar to premises and operations Airport and Air Meet Liability
coverage in the Commercial General Liability Policy covering
bodily injury and property damage liability for aviation risks is
defined as:
Homeowners HO-3 policy - severe theft loss. Coverage A limit $29,000 less any deductible
is $100,000. Insured losses include $25,000 furniture, clothing
and other ordinary personal property plus $5,000 damage to
guns and $5,000 damage to jewelry, furs. Insured will recover:
Each of the following divisions falls under The Department of The Division of Consumer Activities
Financial Services EXCEPT?
Which of the following provides for loss of money and Outside the Premises
securities outside the premises in the care, custody and
control of a messenger or armored car service resulting from
theft, disappearance, or destruction?
What is the standard All Perils deductible in the Commercial $500
Property Policy?
Which of the following best describes a "Controlled" Inland Standard provisions form is written according to filed rules and rates
Marine Form?
Under a Personal Articles Floater, which of the following is Fine Arts
covered as valued property?
Under the Dwelling Program forms, vandalism is not covered 60 days
after the building has been vacant for how many days?
Under a Commercial General Liability Contract, how many 10
days notice of cancellation must the insurer provide for non-
payment of premium?
,Under Additional Coverages, how much applies for loss $1,000
assessments imposed by an association against the insured for
damage to property caused by a peril insured against under
Coverage A?
The following are basic characteristics of a Property or Loss Settlement Contract
Liability Insurance Contract EXCEPT:
Rob has PIP with a $1,000 deductible. He has an auto accident $4,000
causing $6,000 in medical bills. How much will his PIP pay? - $6,000 - $1,000 deductible = $5,000 x 80% = $4,000
QRS Construction Company wants to provide the local school Bid bond
district with a price for building a new grammar school. In - The Bid Bond is required to accompany a bid for a contract which will require that the
order to accept the price, the school board needs a bond that successful bidder furnish further bond if awarded the job. The guarantee is that if the bid
would pay the difference between QRS's price and the next is accepted, the bidder will enter into the contract and will satisfy further bonding
highest price. What kind of bond does QRS need to provide requirements for the job
to the school district?
Which of the following guarantees the payment of materials in Payment Bond
full upon completion of the work?
Which of the following events would be covered under an II and III only
HO-3? I. A sewer line became clogged and the toilet in the
house backed up and overflowed, damaging the carpet. II.
Wind blew a front door open and rain damaged the carpet. III.
The neighbor's German Shepard damaged the garage
doorframe while trying to get in the insured's garage to eat
the dog food stored there.
All of the following are located on a Boiler and Machinery Exhibits
Coverage form EXCEPT:
The Motor Truck Cargo Policy: Insures a truck carrier for liability arising out of the transportation of cargo.
All of the following are types of property that can be covered Firearms
under a Personal Articles Floater EXCEPT:
, What is the standard deductible for Employee Theft $500
coverage?
The Forgery or Alteration coverage under a Businessowners $2,000
Policy is:
How many hours of continuing education is a newly licensed 24
agent required to have for their first Continuing Education
compliance period?
Which of the following is NOT true regarding sole proprietors A maximum of three can elect to be covered
and partners in the non-construction industry as they relate to
Workers Compensation?
Which of the following is not a way to purchase Uninsured More than your bodily injury limits
Motorist Coverage?
Camden's Wood Shop will be dropping off new cabinets at a Installation Floater
jobsite on Monday, but will not actually install them until
Tuesday. What kind of policy will they need to cover any loss
to the cabinets?
This Hospital Form applies with "medical incident" defined as Blood Banks
an act or omission in furnishing of professional services
related to making of a blood donation under the supervision
of the insured:
Which of the following is not a valid deductible for hurricane 1%
in the Dwelling program?
If a loss occurs under the Building and Personal Property 180
Coverage Form with the optional replacement cost provision,
how long does the insured have to give intent to replace the
damaged item in order to receive replacement cost
adjustment?
Which of the following is NOT a common deductible in an 2%
Aircraft Hull Policy?
