Florida Insurance Study guides, Class notes & Summaries

214 Florida Insurance Exam Questions And Answers (Solved)

214 FLORIDA INSURANCE LIFE AND VARIABLE ANNUITY ACTUAL EXAM UPDATED variable annuity - CORRECT ANSWER-there is no guarantee of the dollar amount of the payments, they fluctuate according to the value of an account vest primarly in common stocks join and survivor annuity - CORRECT ANSWER-covers two or more lives and contiunes in force so long as any one of them survives period certain annuity - CORRECT ANSWER-annuity imcome option that guarantees a definite minimum peroid of paymen...

Florida 2-20 Agents License Exam Questions with 100% Correct Answers The Florida Surplus Service Lines Office (FSLSO) was created to - Correct Answer ️️ -oversee the surplus lines industry in the state Which of the following is NOT a required qualification for a General Lines Agent: - Correct Answer ️️ -Seeking the license only to write controlled business The Department of Financial Services performs the following, EXCEPT: - Correct Answer ️️ -Pays insurance claims Once lice...

Property and casualty Florida Exam Questions and Answers 100% Pass risk - Correct Answer ️️ -Chance of a financial loss Assumed risk - Correct Answer ️️ -Amount of risk the insured is willing to absorb Pure Risk - Correct Answer ️️ -a risk that presents the chance of loss but no opportunity for gain Speculative Risk - Correct Answer ️️ -Chance of loss or gain insurance - Correct Answer ️️ -a practice or arrangement by which a company or government agency provides a gu...

Florida Property & Casualty Insurance Exam Questions and Answers 100% Pass The FAJUA is composed of: - Correct Answer ️️ -All companies licensed to write auto insurance in Florida A coverage that is similar to premises and operations coverage in the Commercial General Liability Policy covering bodily injury and property damage liability for aviation risks is defined as: - Correct Answer ️️ -Airport and Air Meet Liability Homeowners HO-3 policy - severe theft loss. Coverage A limit...

Pearson VUE: Property Insurance Practice Exam, Study questions insurance, Casualty FL Questions and Answers 100% Pass S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000 - Corr...

Florida 2-20 Exam Questions and Answers 100% Pass B. A general lines agent or a general lines insurance agency - Correct Answer ️️ -Who may appoint a Customer Representative? Select one: A. A surplus lines agent holding a general lines license and a surplus lines license B. A general lines agent or a general lines insurance agency C. An adjuster D. An insurance company D. After 90 days in Florida - Correct Answer ️️ -Mr. Smith lives in New Jersey but visits Florida each year. Wh...

Property & Casualty Policy Provisions & Contract Law 24 Questions with 100% Correct Declarations - Correct Answer ️️ -Identifies named insured, mailing address, policy period, coverages (limits & premium) and loss payees (lien holders) Insuring agreement - Correct Answer ️️ -types of property covered and perils insured against Conditions - Correct Answer ️️ -describes the rights and duties of the insured and the insurance company under the contract Exclusions - Correct Answe...

Florida Insurance Exam Questions and Answers 100% Correct Risk - Correct Answer ️️ -the chance of financial loss Risk is NOT the loss itself, but the _________ of loss. - Correct Answer ️️ -CHANCE Policy - Correct Answer ️️ -a written contract for effecting insurance and includes Clauses, Riders, endorsements, and papers which are part of the contract Insurance - Correct Answer ️️ -a contract where one undertakes to indemnify another or pay a specific amount determined on ...

Florida 2-15 Insurance License Exam Questions and Answers 100% Pass Accumulation units are converted into annuity units: - Correct Answer ️️ -at the time of annuity payout. A group life insurance plan in which the employer pays the entire premium is known as a ________________ plan. - Correct Answer ️️ -noncontributory If a disabled worker covered under Social Security disability benefits recovers and then is disabled again within five years, a new waiting period is required befor...

Florida General Lines Agent Exam questions with 100% correct answers What is the definition of a risk that is insurable? a.Risk is defined as a chance or the possibility of financial loss; only pure risks are insurable as there is no possibility of a gain b.A chance of a loss or gain c.A risk where there is a possibility of a gain d.A chance for insurance coverage - Correct Answer ️️ -a What is an insurance policy? a.A binder that offers initial insurance coverage b.An oral agreeme...

20-44 Personal Lines Agent PreXam Flashcards ALL SETS Questions and Answers 100% Pass the cost to replace an item or property at the time of loss, minus depreciation - Correct Answer ️️ -Actual Cash Value (ACV) a type of policy limit which limits coverage to a specified total amount for all losses occuring w/in the policy period - Correct Answer ️️ -Aggregate Limit conviction of a 3rd degree felony, liability for all unpaid claims, suspencion or revocation of all insurance license...