FLORIDA INSURANCE 220 EXAM QUESTIONS
AND ANSWERS COMPLETE INSURANCE
STUDY GUIDE EXAM PREP PRACTICE TEST
UPDATED QUESTIONS AND ANSWERS 100% VERIFIED EXAM PREP
,Sliding Representing to the applicant that a specific ancillary coverage or product is included in
the policy applied for without an additional charge when such charge is required is
known as what?
Twisting Knowingly making any misleading representations or incomplete or fraudulent
comparisons or fraudulent material omissions of or with respect to any insurance policies
or insurers for the purpose of inducing, or tending to induce, any person to lapse, forfeit,
surrender, terminate, retain, pledge, assign, borrow on, or convert any insurance policy
or to take out a policy of insurance in another insurer, is known as what?
Churning The practice whereby policy values in an existing life insurance policy or annuity contract,
including, but not limited to, cash, loan values, or dividend values, and in any riders to
that policy or contract, are utilized to purchase another insurance policy or annuity
contract with that same insurer for the purpose of earning additional premiums, fees,
commissions, or other compensation is known as what?
If payment for the claim has already been made F.S. 627.70131 states that upon an insurer's receiving a communication with respect to a
claim, the insurer shall, within 14 calendar days, review and acknowledge receipt of such
communication. Under what circumstance is this notice not required?
Premium Finance Agreement F.S. 627.827 defines a promissory note or other written agreement by which an insured
promises or agrees to pay to, or to the order of, a premium finance company the amount
advanced or to be advanced under the agreement to an insurer or to an insurance agent,
in payment of premiums on an insurance contract, together with a service charge as
authorized and limited by law. This promissory note is known as what?
Catastrophic ground cover collapse F.S. 627.706 states that a depression in the ground cover clearly visible to the naked eye is
know as what?
Sprinkler leakage (water damage) In regards to Commercial Property Coverage there are three such forms: (1) Basic, (2)
Broad, and (3) Special. All of these forms in their general exclusions, exclude which
coverage?
$2000 F.S. 627.714 states that an HO-6 policy must include at least what amount of loss
assessment coverage?
, Smoke Which of the following examples of losses covered by an HO-3 is also covered by an
HO-2?
scorching (when there is no fire)
smoke
discharge of firearms
spillage
Appraisal condition To avoid the time, inconvenience and expense of formal legal action, What condition do
most property insurance policies contain to resolve differences between insurer and
insured about the amount of the loss?
$1,000,000 What is the personal residential dollar limit under a Citizens Property Insurance
Corporation?
Florida Surplus Lines Service Office According to F.S. 626.921, all surplus lines agents shall, as a condition of holding a license
as a surplus lines agent in this state, be deemed to be members of what office's
association?
Financial Responsibility Law According to F.S. 324.011 Operation of what law is triggered by an accident which
involves: bodily injury; or property damage when a vehicle is rendered inoperative; or
certain serious traffic violations, such as driving under the influence and committing a
felony with a motor vehicle?
AND ANSWERS COMPLETE INSURANCE
STUDY GUIDE EXAM PREP PRACTICE TEST
UPDATED QUESTIONS AND ANSWERS 100% VERIFIED EXAM PREP
,Sliding Representing to the applicant that a specific ancillary coverage or product is included in
the policy applied for without an additional charge when such charge is required is
known as what?
Twisting Knowingly making any misleading representations or incomplete or fraudulent
comparisons or fraudulent material omissions of or with respect to any insurance policies
or insurers for the purpose of inducing, or tending to induce, any person to lapse, forfeit,
surrender, terminate, retain, pledge, assign, borrow on, or convert any insurance policy
or to take out a policy of insurance in another insurer, is known as what?
Churning The practice whereby policy values in an existing life insurance policy or annuity contract,
including, but not limited to, cash, loan values, or dividend values, and in any riders to
that policy or contract, are utilized to purchase another insurance policy or annuity
contract with that same insurer for the purpose of earning additional premiums, fees,
commissions, or other compensation is known as what?
If payment for the claim has already been made F.S. 627.70131 states that upon an insurer's receiving a communication with respect to a
claim, the insurer shall, within 14 calendar days, review and acknowledge receipt of such
communication. Under what circumstance is this notice not required?
Premium Finance Agreement F.S. 627.827 defines a promissory note or other written agreement by which an insured
promises or agrees to pay to, or to the order of, a premium finance company the amount
advanced or to be advanced under the agreement to an insurer or to an insurance agent,
in payment of premiums on an insurance contract, together with a service charge as
authorized and limited by law. This promissory note is known as what?
Catastrophic ground cover collapse F.S. 627.706 states that a depression in the ground cover clearly visible to the naked eye is
know as what?
Sprinkler leakage (water damage) In regards to Commercial Property Coverage there are three such forms: (1) Basic, (2)
Broad, and (3) Special. All of these forms in their general exclusions, exclude which
coverage?
$2000 F.S. 627.714 states that an HO-6 policy must include at least what amount of loss
assessment coverage?
, Smoke Which of the following examples of losses covered by an HO-3 is also covered by an
HO-2?
scorching (when there is no fire)
smoke
discharge of firearms
spillage
Appraisal condition To avoid the time, inconvenience and expense of formal legal action, What condition do
most property insurance policies contain to resolve differences between insurer and
insured about the amount of the loss?
$1,000,000 What is the personal residential dollar limit under a Citizens Property Insurance
Corporation?
Florida Surplus Lines Service Office According to F.S. 626.921, all surplus lines agents shall, as a condition of holding a license
as a surplus lines agent in this state, be deemed to be members of what office's
association?
Financial Responsibility Law According to F.S. 324.011 Operation of what law is triggered by an accident which
involves: bodily injury; or property damage when a vehicle is rendered inoperative; or
certain serious traffic violations, such as driving under the influence and committing a
felony with a motor vehicle?
