Florida 4 40 Study guides, Class notes & Summaries

Florida 4-40 license part 3 Update 2024 Questions And Answers

Florida 4-40 test Questions And Answers

Transferring the risk to an insurance company is known as what? - Insurance When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what? - Endorsement George and Sandy only home which was damaged by fire who has insurable interest - George and Sandy What is the most common loss settlement valuation in the property policies? - Actual cash value The insurance company pays the insured for damages ...

FLORIDA 4-40 TEST QUESTIONS AND ANSWERS 1. Transferring the risk to an insurance company is known as what?: Insurance 2. When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what?: Endorsement 3. George and Sandy only home which was damaged by fire who has insurable interest: George and Sandy 4. What is the most common loss settlement valuation in the property poli- cies?: Actual cash value...

FLORIDA 4-40 TEST QUESTIONS AND ANSWERS 1. Transferring the risk to an insurance company is known as what?: Insurance 2. When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what?: Endorsement 3. George and Sandy only home which was damaged by fire who has insurable interest: George and Sandy 4. What is the most common loss settlement valuation in the property poli- cies?: Actual cash value...

Transferring the risk to an insurance company is known as what? Correct Answer Insurance When the insured request to have the company change a condition or provision in an insurance policy the document attach to the policy is referred to as what? Correct Answer Endorsement George and Sandy only home which was damaged by fire who has insurable interest Correct Answer George and Sandy What is the most common loss settlement valuation in the property policies? Correct Answer Actual cash va...

Jesse's home is worth $200,000 and he has a homeowners policy with a $160,000 limit. After a covered loss, Jesse is left with a total of $10,000 in damages. Assuming the insurer requires the standard 80% level of insurance for coinsurance purposes, and ignoring any deductibles, how much will Jesse receive in indemnification? Correct Answer 10,000 A power surge sparks a small electrical fire in an office building. The electrical fire triggers the automatic sprinkler system. The water from the...

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