hello

Whose consent is required to transfer or assign interest in an insurance contract to another? A. The insured B. The insurance department C. The mortgagee D. The insurance company

the insured

The insured has an auto policy with liability limits of $30,000/$60,000/$10,000. He negligently runs off the road and causes $70,000 damage to an apartment building. How much will the policy pay? A. $30,000 B. $10,000 C. $60,000 D. $70,000

$10,000

Which of the following hazards is a careless attitude or general indifference on the part of the insured toward the occurrence of a loss? A. Legal B. Morale C. Physical D. Moral

morale

Another word for Principal is: A. Surety B. Obligee C. Obligor D. Guarantor

Obligor

Who are the owners of a mutual insurance company? A. Directors B. Stockholders C. Policyholders D. Underwriters

policyholders

An agent must communicate with the Department regarding any change in address within A. 10 days B. 60 days C. 30 days D. 90 days

30 Days

The minimum grace period for individual health insurance policies being paid on a monthly basis is how many days? A. 31 B.10 C.7 D. 30 30

31

Medicare Supplement policies are administered by: A. Private insurers B. Federal and state government C. Federal government D. State government

? Federal and State government

All of the following are a regulatory concern with unlicensed entities transacting insurance business in Florida, except: A. Lack of oversight by state or federal regulatory agencies B. State or federal guaranty funds will cover unpaid claims of unlicensed entities as a priority C. Potential for unpaid claims due to dishonesty and lack of sound actuarial decisions D. Potential for criminal activity

? Lack of oversight by state or federal regulatory agencies ** might by B

All of the following are correct regarding hurricane deductibles in Florida, except: A. The deductible applies annually B. Hurricane losses on more than one policy issued by the same insurer will result in the highest amount stated in any one of the policies. C. Alternative deductible amounts applicable to hurricane losses equal $500, 2%, 5%, or 10% of the dwelling limits D. Changes to the percentage of deductible may be implemented at any time during the calendar year

? the deductible applies annually

Which peril is covered under the Dwelling Form DP-1? A. Freezing B. Weight of ice, snow or sleet C. Falling objects D. Lightning

? the effective date

Which of the following does not fall within the Florida definition of "transacting" insurance? A. Negotiating with a possible client prior to the execution of the contract. B. The solicitation of insurance from the general public. C.Direction as to the specific use of commissions generated by the sale of the insurance. D. Endorsing or modifying the policy after its sale.

???

A licensed individual who is limited to transacting business related to property and casualty insurance sold to individuals and families for noncommercial purposes is a A. Personal lines agent B. Public Adjuster C. General lines agent D.Customer Service Representative

Personal Lines Agent

All of the following are duties of the insured following a loss EXCEPT A. protect property from additional damage B. separate damaged from undamaged property C. inventory lost property D. notify the insurance department in case of loss

separate damaged from undamaged property

Under the Commercial Builders Risk coverage form, all of the following are true, except: A. Coverage on the structures under construction includes materials, supplies, and equipment intended to become a permanent part of the building B. There is no vacancy provision in the Commercial Builders Risk coverage form C. Coverage terminates 90 days after completion, or once the building is occupied D. Coverage includes land, lawns, trees, plants, outside antennas, and signs that are not attached to the insured structure.

Coverage on the structures under construction includes materials, supplies, and equipment intended to become a permanent part of the building

Which of the following Forms provides open perils coverage for Coverages A, B and C? A. HO-8 B. HO-5 C. HO-6 D. HO-3

HO-5

Which homeowner policy form is for dwelling owners who do not wish to insure their older homes for replacement cost? A. HO-3 B. HO-6 C. HO-2 D. HO-8

HO-8

The attempt to restore an insured to his pre-loss condition is known as A. Coinsurance B. Indemnification C. Appraisal D. Subrogation

Indemnification

The price a willing buyer will pay for a property from a willing seller is A. Actual appraised value B. Market value C. Actual cash value D. A valued policy

Market Value

A written notification provided by the insured to an insurer that specifies the details about the time, place and circumstances surrounding a loss is a: A. Notice of Loss B. Certificate of Insurance C. Notice of Accident D. Notice of Occurrence

Notice of loss

A continuous or repeated exposure is a condition describing which of the following? A. Proximate cause B. Concurrency C. Accident D. Occurrence

Occurrence

Which of the following statements regarding medical payments coverage is not correct? A. Coverage is for bodily injury of a third party as a result of the insured's activities B. Payments are considered an admission of guilt C. Provides payment for necessary medical, surgical and hospital expenses D. Payments are made regardless of the insured's negligence

Payments are considered an admission of guilt

A representation is BEST described as a A. Statement guarantee to be true B. Statement in the application is unilateral C. Statement on the application that the insured believes is true D. False statement contained in the application

Statement on the application that the insured believes is true

An auto insurance policy must provide personal injury protection to all of the following, except: A. Persons operating the insured motor vehicle B. The named insured C. Passengers in the motor vehicle D. The thief of a stolen vehicle

The thief of a stolen vehicle

Which of the following coverages will protect the insured against drivers who have inadequate or insufficient coverage to respond to claims? A. Uninsured B. Other than Collision C. At-Fault D. Underinsured

Uninsured

The liability assigned to one party for the conduct of another, based solely on a relationship between the two is: A. Gross negligence B. General liability C. Vicarious liability D. Personal injury

Vicarious liability

The process of a neutral third party making a decision on a disputed claim is called: A. Right of salvage B. Assignment C. Arbitration D. Liberalization

Arbitration

An insurance company is considered a domestic insurer in Florida if it is A. Organized under the laws of another country B. Admitted to do business in Florida C. Domiciled and organized under the laws of any state D. Organized and admitted in Florida

(I'm p sure?) Organized and admitted in Florida

All of the following are examples of sliding, except: A. Charging an applicant for an additional product without the applicants consent to purchase that additional product B. Representing to the applicant that a specific additional product is free of charge when in fact it is not C. Charging an applicant for an additional product when in fact, the applicant is aware of and agrees to the additional product D. Representing to the applicant that a specific product is required by law to be purchased, when in fact it is not

Charging an applicant for an additional product when in fact, the applicant is aware of and agrees to the additional product

Which of the following types of risk are insurable? A. Pure B. Speculative C. Whole D. Partial

Pure

Which type of coverage will replace damaged or destroyed property with the equivalent at current cost? A. Actual cash value B. Stated amount C. Replacement cost D. Market value

Replacement Cost (99% sure)

What is the type of injury that prevents the employee from doing any work, but from which the injured employee is expected to make a full recovery? A. Permanent Total B. Temporary Total C. Temporary Partial D. Permanent Partial

Temporary Total

The _______________________ responded to the chaos the 9/11 terrorist attacks caused in the insurance industry. A. The Federal Employers Liability Act B. The U.S. Longshorement and Harbor Workers' Compensation Act C. The Jones Act D. The Terrorism Risk Insurance Act

The Terrorism Risk Insurance Act

All of the following are correct regarding the Florida Insurance Guaranty Association, except: A. All insurers authorized to conduct business in Florida must be members B. The association's liability does not exceed $300,000 per claim C. The association is responsible for penalties and interest D. The association is divided into 2 separate accounts

The association is responsible for penalties and interest

What is the main difference between the Occurrence Form and the Claims-Made Form of the Commercial General Liability policy? A. The Occurrence Form covers "occurrences" and the Claims-Made Form covers "accidents" B. The Occurrence Form includes an extended reporting period C. The Claims-Made Form covers claims on occurrences that took place after policy termination D. The coverage trigger is different for each

The coverage trigger is different for each

An insured and insurer will utilize which of the following when they are unable to agree on the amount of a claim to be paid? A. Recession B. Assignment C. Arbitration D. Appraisal

appraisal

By what other name is the Dwelling Form DP-2 known? A. Basic Form B. Blanket Form C. Broad Form D. Special Form

Broad Form

All of the following would be covered under Workers' Compensation Insurance, except: A. An employee injured on the job by a product of the employer B. An employee injured by machinery in the work place C. An employee who becomes ill due to exposure to chemicals used in the employee's workplace D. An employee who contracts a cold in the winter

An employee who contracts a cold in the winter

All of the following are correct concerning medical payments under Commercial General Liability Insurance, except: A. Payments are made regardless of fault B. Payments are made for expenses incurred and reported within one year of the accident C. Covered is medical expense for bodily injury caused by an accident on the insured's premises or because of the insured's operations D. Payments are made only if the insured is determined to be legally liable

??? Payments are made only if the insured is determined to be legally liable

Which of the following is an optional coverage under the BOP? A. Business income B. Personal effects C. Mechanical breakdown D. Debris removal

???Personal effects

How is the limit of liability applied under Coverage E of the Homeowners Policy? A. Aggregate B. Per person C. Per occurrence D.Per occurrence with a per person sublimit

?Per occurrence with a per person sublimit

A policy that insures one dwelling for a single limit of $150,000 is an example of which property insurance limit? A. Blanket B. Specific C. Standard D. Scheduled

?Specific

With regard to binders, which of the following statements is CORRECT? A. A Binder is not usually valid for more than 90 days B. Binders are valid for 15 days after the policy is issued C. A binder may be oral or written D. A binder may be canceled by the insured with 2 days notice

A binder may be oral or written

Which of the following individuals would not be considered a family member covered by a Personal Auto Policy? A. A blood relation B. A foster child C. A resident member of the household D. A brother living out of state

A brother living out of state

Which of the following is true regarding the Supplemental Extended Reporting Period (SERP)? A. Cancellation by the insurer requires 90 days' notice of cancellation B. The charge for the Supplemental Extended Reporting Period shall not exceed the premium of the expiring policy C. It covers claims that take place after the policy term, during the Supplemental Extended Reporting D. The premium for SERP coverage is a one-time charge

The premium for SERP coverage is a one-time charge