Florida 2-20
D. Nothing
A Blanket Personal Articles Floater policy covering Stamps and coins for $100,000 is purchased. The insured sends stamps and two rare coins by First Class Mail, which are lost. The stamps and coins are valued $50,000. How much does the policy pay? Select one: A. $25,000 B. $1,000 C. $50,000 D. Nothing
B. Nothing
A Builder's Risk coverage form is written in the amount of $100,000. The completed value of the structure is $150,000. The building is completed on June 1. On September 15, while helping the new occupant with his grand opening sale, a clerk sneaks a smoke in the restroom. A fire ensues causing a $10,000 fire loss. How much will the insurer pay? Select one: A. $10,000 B. Nothing C. $6,666 D. $7,500
A. A truck crane
A Business Auto Policy (BAP) covers all of the following except: Select one: A. A truck crane B. A private passenger automobile owned by corporation C. A semi-trailer D. A pickup truck
A. Conducting sales work outside of the agent's office
A Customers Representative's authority does not include: Select one: A. Conducting sales work outside of the agent's office B. Taking insurance applications, giving quotes, interpreting policies, and giving insurance advice C. Binding new and additional coverages D. Performing preliminary work to assist in processing claims
C. An insurer formed under the laws of any state, other than Florida
A Foreign Insurer is: Select one: A. An insurer formed in a country other than the United States B. An insurance company formed in the Bahamas C. An insurer formed under the laws of any state, other than Florida D. An insurer formed under Florida laws, but which may provide insurance in other states
D. One who may transact property insurance, casualty insurance, surety insurance, health insurance, and marine insurance in the State of Florida
A General Lines Agent is: Select one: A. A personal lines agent who has not complied with the continuing education requirements of the State of Florida B. One approved by a general lines agent to assist in transacting business of private passenger motor vehicles from the agency office C. One who is appointed by a general lines agent or agency to assist in transacting the business of the agency from the agency office D. One who may transact property insurance, casualty insurance, surety insurance, health insurance, and marine insurance in the State of Florida
A. A flat amount per day for hospital room and board
A Hospital Indemnity Policy covers which of the following expenses? Select one: A. A flat amount per day for hospital room and board B. Nursing care in the insured's home C. Medical supplies D. Surgical fees incurred in the hospital
A. Mysterious Disappearance
A Personal Articles Floater in the Inland Marine program excludes all the following except? Select one: A. Mysterious Disappearance B. Wear and Tear C. Inherent Vice D. Insects and vermin
A. Fiduciary Bond
A bond which guarantees the performance of one appointed by the Court such as a Guardian, is known as a: Select one: A. Fiduciary Bond B. Public Official Bond C. License Bond D. Performance Bond
B. $2,000 in money taken from a vault
A community college is insured under a Crime Coverage - Inside Premises - Robbery or Safe Burglary of Other Property Form. Which one of the following amounts will not be paid if the amount of coverage is $30,000? Select one: A. $15,000 damage to a locked safe, which was broken into B. $2,000 in money taken from a vault C. $1,000 damage to the building after the thieves broke into the Dean's office D. None of these answers are covered
C. $45,000 building and $25,000 to the tenant's property
A fire occurred in an apartment building resulting in $20,000 fire and $25,000 smoke damage to the building, and smoke damage to property of the tenants in a total amount of $25,000. On the way to the fire, one of the fire trucks collided with a parked automobile and damaged it to the extent of $5,000. The apartment building's owner has a Special Form policy in sufficient amount, and the tenants all have HO4 policies in sufficient amounts to cover losses. What amount of insurance will be paid by the apartment building owner's and tenant's policy (disregard any deductibles)? Select one: A. $25,000 smoke damage to property of the tenants B. $45,000 building, $25,000 to the tenant's property, and $5,000 collision damage by fire truck C. $45,000 building and $25,000 to the tenant's property D. $45,000 building for fire and smoke damage to the building
A. Bid Bond, Performance Bond, Payment Bond, and Maintenance Bond
A man wanted to have a building erected at a competitive price, completed within a specified time, with workmanship guarantee for one year. Which bonds are required? Select one: A. Bid Bond, Performance Bond, Payment Bond, and Maintenance Bond B. Bid Bond, Performance Bond, Payment Bond, and Supply Bond C. Bid Bond, Payment Bond, Supply Bond, and Permit Bond D. Performance Bond only
C. Covered if any suits are brought in the U.S. or one of the covered territories
A product purchased in the U.S. subsequently injured a claimant in Europe. Which of the following best explains the merchant's coverage under his Product's Liability coverage? Select one: A. No coverage as loss was outside the U.S. B. Covered only if the policy is endorsed to provide European coverage C. Covered if any suits are brought in the U.S. or one of the covered territories D. Not covered as product was out of the physical possession of the
D. Replacement cost less physical depreciation
Actual Cash Value is best defined as: Select one: A. Replacement cost less tax depreciation B. Original cost less tax depreciation C. Original cost less physical depreciation D. Replacement cost less physical depreciation
A. Parcel Post
All of the following are covered by Mail Coverage (Inland Marine Form) except: Select one: A. Parcel Post B. Registered Mail C. First Class Mail D. Express Mail
A. The Liberalization Clause
All of the following serve to enforce the Principle of Indemnity except: Select one: A. The Liberalization Clause B. The Insurable interest rule C. Actual Cash Value as a measure of a loss D. Subrogation
B. Bodily Injury to Mrs. Smith and damage to the kitchen but not the refrigerator
An appliance store sells a refrigerator to Mrs. Smith. The refrigerator is installed in Mrs. Smith's kitchen and after the installation had been completed, the refrigerator blows up catching fire and damaging the kitchen and injuring Mrs. Smith. The appliance store's Commercial General Liability policy covers? Select one: A. Bodily Injury to Mrs. Smith and damage to the, refrigerator, but not the kitchen B. Bodily Injury to Mrs. Smith and damage to the kitchen but not the refrigerator C. All losses are covered D. Bodily Injury to Mrs. Smith only
D. No coverage under the Workers' Compensation policy
An employee was furnished a company automobile for his business and personal uses. While driving to a movie one evening, his automobile was struck by another vehicle at an intersection. The employee and two members of his family were injured. Which of the following statements is true? Select one: A. All injuries would be covered by Part Two of the policy B. Workers' Compensation policy would pay for employee's injury C. Workers' Compensation policy would pay for employee's injury under Part One and injuries to family members under Part Two (Employer's Liability) D. No coverage under the Workers' Compensation policy
B. Will pay injuries to injured customer
An insured is a restaurant operator who carries a Commercial General Liability policy. The insured's premises include a parking area used for valet parking of customer's cars. An employee of the insured, while parking a customer's automobile, hit another automobile in the parking lot. In addition to damage to the automobile, a customer was injured while standing beside the damaged automobile. Which of the following describes how the insurer will respond? Select one: A. Will pay nothing B. Will pay injuries to injured customer C. Will pay damage to customer's automobile D. Will pay for injury to customer and damage to customer's automobile
B. Other than Collision
An insured whose legally parked automobile is damaged by a mudslide may collect for damages under which of the following coverages? Select one: A. No coverage B. Other than Collision C. Property Damage Liability D. Collision
B. The insurer will cover the loss since mobile equipment is covered and the crane meets the definition of mobile equipment covered by the policy
An insured with coverage under a Commercial General Liability policy buys a new crane and immediately drives the crane on the highway to a job site. While driving on the highway, the insured had an at-fault accident. Which of the following describes how the insurer will respond? Select one: A. The insurer will deny the claim as the crane was operated on the highway under its own power B. The insurer will cover the loss since mobile equipment is covered and the crane meets the definition of mobile equipment covered by the policy C. The insurer will deny the claim because only specifically scheduled equipment is covered D. The insurer will pay the claim only if the insured has a Business Auto policy
D. Entire loss, less deductible (if applicable)
An insured with the Building and Personal Property form covering $100,000 on Personal property, left tools and equipment in a company van which was parked just outside (within 75 feet) of the building overnight. What would the insurer pay for a theft loss of tools from the van? Select one: A. No coverage B. 10% of personal property limit would apply, up to $25,000 C. Only $2,500 extension applies to personal property outside of building D. Entire loss, less deductible (if applicable)
D. Vandalism
At the time of a loss, it is found that the covered building had been vacant for the period of 75 consecutive days immediately preceding the loss. Which of the following perils would not be covered? Select one: A. All of these answers are correct B. Windstorm C. Fire D. Vandalism
A. No coverage
Bob, an accountant of XYZ, drives his own car to the bank to make a deposit for XYZ. Bob has an at-fault accident. If XYZ carries $1,000,000 Bodily Injury/Property Damage coverage with a Symbol 2 for covered autos, and Bob carries no insurance, how much coverage is applicable for XYZ? Select one: A. No coverage B. $10,000/$20,000 Bodily Injury and $10,000 Property Damage C. $1,000,000 D. $500,000
C. Net profit/loss before taxes including continuing normal operating expenses
Business Income is defined as which one of the following? Select one: A. Net profit/loss before taxes excluding continuing normal operating expenses B. Net profit/loss after taxes plus continuing normal operating expenses C. Net profit/loss before taxes including continuing normal operating expenses D. Net profit/loss after taxes excluding continuing normal operating expenses
C. All of these answers are correct
Describe a MEWA (Multiple-Employer Welfare Arrangement). Select one: A. MEWAs require a Certificate of Authority from the Department of Insurance. B. MEWAs are defined as an arrangement that is established or maintained to provide one or more various insurance benefits (health insurance) to the employees of two or more employers C. All of these answers are correct D. MEWAs (Multiple-Employer Welfare Arrangement) are regulated as risk-bearing entities by the Florida Insurance Code
C. The policy is returnable within one year for full premium refund
Florida Statutes establish standards, which must be met by Medicare Supplement insurance. Which of the following is not a standard? Select one: A. The policy may not limit coverage for more than 6 months because of a pre-existing health condition B. Policies must be written in understandable language C. The policy is returnable within one year for full premium refund D. The policy must be accompanied by an outline of coverage and a Medicare Supplement Buyer's Guide
C. 20 days
Health insurance policies, under Florida Law, require which of the following number of days cancellation notice (if there is a cancellation clause in the policy)? Select one: A. 45 days B. 10 days C. 20 days D. 30 days
A. The property of a guest anywhere in the world
Homeowner's Coverage C - Personal Property covers each of the following situations except? Select one: A. The property of a guest anywhere in the world B. The insured's personal property while in Mexico at a secondary dwelling C. A resident employee's contents at the insured's dwelling D. The property of others while located at the insured's dwelling at the insured's request
A. Two acres or over
If Flood is confined to a single building, how much area must be inundated in order for the Flood policy to provide coverage? Select one: A. Two acres or over B. One acre or over C. Three acres or over D. No limit
B. Comes under the emergency program
If a community is not approved for Flood Coverage but has applied for admittance, it: Select one: A. Has flood insurance rate maps B. Comes under the emergency program C. Is an eligible community D. Comes under the regular program
C. Money loss
If an insured has Building coverage only, under the Building and Personal Property Coverage Form, which of the following items located within the building would not be covered? Select one: A. Carpeting B. Fire Extinguishers C. Money loss D. Refrigerator
A. A genuine single-employer ERISA plan is not subject to direct state insurance regulation
Is a legitimate ERISA Self-Insurance plan necessarily an insurance plan subject to state regulation? Select one: A. A genuine single-employer ERISA plan is not subject to direct state insurance regulation B. A legitimate ERISA Self-Insurance plan is never deemed to be insurance C. None of these answers are correct D. A legitimate ERISA Self-Insurance plan is always deemed to be insurance
D. Installation Floater
Joe Brown is awarded a contract to install an air conditioning system at the premises of a local bar owned by Jim Smith. During the time work is being done, a major fire occurs overnight and destroys $50,000 worth of the insured's (Joe Brown's) property located at Jim Smith's bar. This loss is best covered by a: Select one: A. Contract Bond B. Some form of Crime Insurance C. Commercial Property Building and Personal Property Form D. Installation Floater
A. $500
Joe carries $2,000 Medical Payments coverage on his automobile. Joe's daughter used a friend's automobile and was involved in an accident resulting in $3,500 in medical bills. The friend carries Medical Payments coverage in the amount of $3,000. How much will Joe's policy pay, if any? (Ignore Personal Injury Protection coverage) Select one: A. $500 B. $1,500 C. $3,000 D. None
B. No additional coverage is necessary to protect the neighbor
Joe, who owns an automobile, wants to borrow his neighbor's van to go on vacation. Both Joe and his neighbor have Personal Auto policies providing Bodily Injury, Property Damage, Personal Injury Protection, Uninsured Motorist, and Physical Damage coverage. The neighbor fears Joe may have a claim, which involves Bodily Injury and/or Property damage. Which of the following can Joe purchase to satisfy his neighbor, if any? Select one: A. Extended Nonowned coverage B. No additional coverage is necessary to protect the neighbor C. Extended Personal Injury Protection D. Increase Uninsured Motorist coverage
B. The loss, less the deductible, would be paid
Mr. Jones has a Homeowner's, HO3 policy. He left his golf clubs in his unlocked automobile. The automobile was parked at a shopping center when someone stole the golf clubs. Which of the following statements is true? Select one: A. The claim was not covered because the automobile was unlocked B. The loss, less the deductible, would be paid C. The claim was not covered because the property was off his premises D. The claim was not covered by the HO3 form because of a limitation in the policy
D. After 90 days in Florida
Mr. Smith lives in New Jersey but visits Florida each year. When does he come under the Florida No-Fault system, in any 365-day period? Select one: A. After 60 days in Florida B. After 30 days in Florida C. After 14 days in Florida D. After 90 days in Florida
D. Bodily Injury or Property Damage caused by personal activities of the insured or family members anywhere in the world
Personal Liability (Section III) of a Homeowner's policy covers which of the following? Select one: A. Bodily Injury or Property Damage caused by war B. Bodily Injury to a member of the household by a neighbor's dog C. Damage to the insured's property caused by a visitor D. Bodily Injury or Property Damage caused by personal activities of the insured or family members anywhere in the world
B. If a rebate schedule is prominently displayed in public view at the agent's place of business
Rebating of a portion of an agent's commission is permitted: Select one: A. If granted only upon the insured's purchase of collateral insurance B. If a rebate schedule is prominently displayed in public view at the agent's place of business C. If insurance is provided by an insurer that allows its agents to rebate commission D. If based on age, sex, place of residence or occupation of the insured
C. A plan established for the purpose of providing for employees' or their beneficiaries' accident, disability or death benefits
Self-insurance is: Select one: A. A plan administered by or for the Federal Government B. A plan covering fewer than 10 employees C. A plan established for the purpose of providing for employees' or their beneficiaries' accident, disability or death benefits D. A plan, which provides for continuing employees' regular compensation during illness or disability
B. Drive Other Car Endorsement
Smith, Inc. provides an automobile for an employee who has no automobile of his own. What additional coverages, of the following, could be added to protect the employee? Select one: A. Additional Personal Injury Protection B. Drive Other Car Endorsement C. Extended Non-Owner D. Miscellaneous Type Vehicles
A. An insured collects from his insurance company for damage caused by third party
Subrogation may follow which of the following events? Select one: A. An insured collects from his insurance company for damage caused by third party B. A firefighter damages the insured's property while extinguishing a fire C. Forces of nature damage the insured's property while extinguishing a fire D. An insured causes damage to his own goods
B. The loss will be covered by ABC's policy if the loss occurs within 90 days of purchase of the new business
The ABC Corp. purchased a new business during the term of its Commercial General Liability policy. A claim occurs for which the new business is liable but before the new business is added to the policy by endorsement. Which of the following statements are true? Select one: A. There is no coverage until the insured has advised the agent of the acquisition B. The loss will be covered by ABC's policy if the loss occurs within 90 days of purchase of the new business C. There is no coverage for a new business D. Coverage on the new business is limited to 50% of the limits of the General Liability Policy
C. All of these answers are correct
The Business Owners' Policy's (BOP) liability coverage differs from the Commercial General Liability policy in which of the following ways? Select one: A. When a BOP policy is issued to a drug store, Professional Liability (Druggists Liability) is automatically included B. If the insured does not have a Commercial Auto Policy, coverage for Auto Non- Ownership and Hired Car liability may be added by endorsement to the BOP C. All of these answers are correct D. Coverage of BOP is an "occurrence" basis only - no claims-made option
C. Nothing
The Dane Company finds a defect in one of its products. 100 units must be destroyed, valued at $700 each. The recall of units on the market will cost an additional amount of $5,000 to replace. How much will the Commercial General Liability policy will pay? Select one: A. $75,000 B. $70,000 C. Nothing D. $5,000
C. 90 days
The Homeowner's, HO3 policy will provide coverage for a student away at college as long as the student's premises was not unoccupied more than how many days prior to the loss? Select one: A. 60 days B. 30 days C. 90 days D. 45 days
C. All of these answers are correct
The Insurance Department may, at its discretion, issue a temporary license: Select one: A. If no other person connected with the agent's business is licensed as a general lines agent B. To a licensed agent's employee, family member, business associate, or personal representative C. All of these answers are correct D. In the event of death, disability, or absence of a general lines agent
D. All of these answers are correct
The Physicians, Surgeons and Dentist Professional Liability policy covers which of the following by endorsement? Select one: A. Nurses B. Veterinarians C. Blood Banks D. All of these answers are correct
B. A percentage of Value per occurrence
The deductible for Windstorm on Commercial Property policies on Florida's lower East coast is usually: Select one: A. $1,000 per occurrence B. A percentage of Value per occurrence C. $100 per occurrence D. $250 per occurrence
D. All of these answers are correct
The insured business purchased $25,000 Extortion coverage. Which of the following losses will the insurer pay? Select one: A. A customer is being held captive B. The president's son is being held captive C. An employee is being held captive D. All of these answers are correct
C. $170
The insured carries Collision and Other than Collision coverage under a Personal Automobile policy. The Other than Collision deductible is $100 and the Collision deductible is $100. The windshield breakage repair cost was $170. The insurer will pay: Select one: A. $0 (zero) B. $70 C. $170 D. $250
A. Pays $100,000 since this is the limit per loss regardless of the number of employees involved
The insured has Crime Coverage - Employee Theft - in the amount of $100,000 on a Blanket Form. Three employees working in collusion manage to hide $400,000 in money, securities, and other property in some old storage boxes. A fourth employee carried the boxes by truck to a storage warehouse and helped the first three employees unload and steal the loot. The insurer's position will be: Select one: A. Pays $100,000 since this is the limit per loss regardless of the number of employees involved B. Denies claim C. Pays $300,000 - $100,000 each for three employees involved in actual theft D. Pays entire claim of $500,000
B. The carrier must renew the policy to a certain age (usually 65); also the carrier reserves the right to increase premiums in certain underwriting classes
The insured has a "Guaranteed Renewable" major medical policy. This means: Select one: A. The carrier cannot refuse to renew, even if the premium is not paid B. The carrier must renew the policy to a certain age (usually 65); also the carrier reserves the right to increase premiums in certain underwriting classes C. The carrier cannot cancel coverage, but can require a new application each year D. The carrier must renew the policy under all circumstances
D. The claim is covered by the carrier at the time of the incident since the incident was reported during the policy period and the claim was made within five years of expiration of the claims made policy
The insured has a Commercial General Liability policy written on a Claims Made basis. During the policy term an incident occurred and was reported to the agent. No claim was made until two years after expiration of the policy and after coverage had been renewed by another insurer. Which of the following describes how the insurer will respond? Select one: A. The claim will be paid by the current insurance company B. The claim will be denied because the Statute of Limitations has expired C. The claim will be denied because the claim was not presented during the policy period D. The claim is covered by the carrier at the time of the incident since the incident was reported during the policy period and the claim was made within five years of expiration of the claims made policy
B. All of these answers are correct
The insured has a Homeowner's, HO3 policy. A tree was struck by lightning, hit a power line, and damaged the roof of the dwelling, swimming pool, and caused spoilage of food. Which items are covered? Select one: A. The food spoilage B. All of these answers are correct C. The pool D. The tree
A. Radio Antenna
The insured has purchased Mechanical Breakdown coverage. Which of the following are not covered? Select one: A. Radio Antenna B. Engine C. Air Conditioning D. Transmission
C. $100,000
The insured has the building covered under the Building and Personal Property Coverage Form in the amount of $100,000. The Replacement Cost Value of the building is $125,000. The policy contains a $5,000 deductible clause. Assuming no other coverage, which of the following is payable in the event of a $120,000 loss? Select one: A. $80,000 B. $125,000 C. $100,000 D. $95,000
C. $500 any one item with a $2,500 maximum
The insured owns an apartment building, which is covered by a Businessowner's Policy. Which limits apply to covered losses to outdoor trees, shrubs, and plants? Select one: A. $250 any one item with a $5,000 maximum B. $250 any one item with a $2,500 maximum C. $500 any one item with a $2,500 maximum D. $500 any one item with a $5,000 maximum
B. Personal and Advertising Injury
The insured purchased a Commercial General Liability policy. The insured, suspecting illegal activities by a tenant, checked the tenant's apartment while the tenant was absent. The tenant sued for damages claiming wrongful entry. Which coverage under the Commercial General Liability policy applies? Select one: A. Medical Payments B. Personal and Advertising Injury C. Bodily Injury and Property Damage D. Supplementary Payments
D. Coverage for damage caused by defective construction, but no coverage for repair or replacement of pipes
The insured, a contractor, built a condominium building. Six months after completion, the roof of the lobby fell in due to faulty plumbing. Pipes in the wall were not connected properly, causing the loss. The Completed Operations coverage will pay? Select one: A. The entire loss B. No coverage because the loss occurred after the contractor had completed the job and relinquished possession of the premises C. Replacement of ceiling damage but no coverage for debris removal D. Coverage for damage caused by defective construction, but no coverage for repair or replacement of pipes
B. As little as 7 days, and as long as one year
There is generally a waiting period before payments begin under a Disability Policy and then monthly benefits are paid for a specified period of time. The waiting period may be: Select one: A. 45 days B. As little as 7 days, and as long as one year C. 10 days D. 20 days
A. $100,000/$300,000 Bodily Injury and $50,000 Property Damage
Under FAJUA, the maximum limits for Bodily Injury and Property Damage are: Select one: A. $100,000/$300,000 Bodily Injury and $50,000 Property Damage B. $100,000/$300,000 Bodily Injury and $25,000 Property Damage C. No Maximum D. $250,000/$500,000 Bodily Injury and $100,000 Property Damage
C. All of these answers are correct
Under a Business Income Property form, which coinsurance clauses are available? Select one: A. 125% Coinsurance B. No Coinsurance C. All of these answers are correct D. 50% Coinsurance
B. Owned by the insured
Under a Commercial Property Policy, the Legal Liability coverage does not provide coverage for the insured against damage to which type of property? Select one: A. In the care, custody, and control of the insured B. Owned by the insured C. Leased equipment
A. The Insurer would pay $10,000 (25% of the current coverage, maximum of $10,000)
Under a Personal Articles Floater a man and his wife had an individually scheduled ring covered for $75,000. They later purchased a ring for $150,000 and did not report the purchase to the insurer for two days. Before the purchase was reported, the $150,000 ring was stolen. How would the claim be settled? Select one: A. The Insurer would pay $10,000 (25% of the current coverage, maximum of $10,000) B. The Insurer would pay 25% of $150,000 C. The Insurer would pay $75,000 D. The Insurer would pay $150,000
C. Collateral
Under a Surety Bond, valuable property held by Surety for the life of the bond is called: Select one: A. Capital B. Joint Venture C. Collateral D. Principal
D. Property owned by another in the care of the insured was damaged in an accident to an insured object, resulting in a claim by the owner of the property
Under a basic Boiler and Machinery Form, with no special endorsements, which of the following losses would be covered? Select one: A. The insured suffers loss of income following an accident to a covered object B. During an accident involving a covered object, a visitor on the insured's premises suffers injuries and sued the insured C. During testing, after some repairs, a boiler had a sudden breakdown D. Property owned by another in the care of the insured was damaged in an accident to an insured object, resulting in a claim by the owner of the property
B. None of these answers are correct
Under the Building and Personal Property coverage form, which of the following items would be covered for damage by windstorm? Select one: A. Fences B. None of these answers are correct C. Outdoor TV antenna D. Shrubbery
C. 75%
Under the Commercial Property Policy, the Value Reporting Form limits a settlement to which percentage if the first report is not filed on time? Select one: A. 50% B. 80% C. 75% D. 90%
B. All of these answers are correct
Under the Commercial Property policy, the Special Causes of Loss Form provides coverage for direct physical loss unless the loss is from which one of the following perils? Select one: A. Employee dishonesty B. All of these answers are correct C. Zoning and planning errors D. Wear and tear
D. $400
Under the Garagekeepers coverage, Section III of the Garage policy, the insured suffers a single vandalism loss to nine (9) vehicles belonging to customers. Damage is $100 per vehicle. How much will the policy pay? Select one: A. $500 B. $900 C. Nothing D. $400
C. All of these answers are correct
Under the Trucker's Bodily Injury and Property Damage coverage form, which of the following is covered? Select one: A. A tractor cab with a semi-trailer attached jackknifed and the trailer caused damage B. The insured was operating their truck, which caused an accident C. All of these answers are correct D. The insured borrows a truck, which causes an at-fault accident
D. Other property is valued at Replacement Cost at the time the loss is discovered
Under the general provisions of the Crime Policy, which of the following valuations is incorrect? Select one: A. Other property is valued at the lesser of actual replacement cost or the cost to repair B. Money is valued at Face Value C. Securities are valued at the time the loss is discovered D. Other property is valued at Replacement Cost at the time the loss is discovered
B. Two of these answers are correct
Under which of the following conditions should the "Building Ordinance" optional coverages be considered? Select one: A. If the insured's building is not in accordance with current building and zoning laws B. Two of these answers are correct C. If the community has an ordinance, which requires demolition of the undamaged portions of the building after a partial loss D. None of these answers are correct
A. All of these answers are correct
Unless properly licensed an general lines agent cannot Select one: A. All of these answers are correct B. Receive any money on account for any insurer or receive money to be transmitted to an insurer for a policy, renewal, endorsement or certificate C. Solicit insurance or procure applications for insurance D. Directly or indirectly represent himself or herself to be an agent or receive, deliver or forward any insurance policy within the state
B. All of these answers are correct
What are possible consequences for aiding and abetting an unauthorized insurer? Select one: A. Conviction of a third-degree felony B. All of these answers are correct C. Subject to suspension or revocation of all insurance licenses D. Liability for all unpaid claims of the unauthorized insurer
B. All of these answers are correct
What are some perils unique to farm coverage? Select one: A. Loading/unloading accidents B. All of these answers are correct C. Electrocution, drowning, or accidental shooting of covered livestock D. Attacks on covered livestock by dogs or wild animals
A. All of these answers are correct
What are the rules that allow for state regulation of MEWAs? Select one: A. All of these answers are correct B. If not fully insured, the MEWA is subject to all state insurance laws not inconsistent with ERISA C. A MEWA that is not an employee benefit plan is subject to state insurance regulation D. If fully insured, the MEWA remains subject to state regulation
B. Legal Liability coverage
What coverage form applies for one who leases a building from another, as to the possibility of being responsible to the owner for damage to the building caused by fire due to negligence of the tenant? Select one: A. Builders Risk coverage B. Legal Liability coverage C. Replacement Cost coverage D. Agreed Value coverage
C. Unlimited
What is the maximum medical benefit under Workers' Compensation? Select one: A. $5,000 B. 85 - 95% of loss of wages C. Unlimited D. 80% of medical costs
C. State insurance regulation does still apply to an insurer that may be financially responsible for the payment of claims and any forms utilized in an insured ERISA plan
What role does state regulation play in a legitimate ERISA plan? Select one: A. There is no regulation over ERISA plans B. All of these answers are correct C. State insurance regulation does still apply to an insurer that may be financially responsible for the payment of claims and any forms utilized in an insured ERISA plan D. The state regulates any ERISA plan in the same way it regulates any authorized insurer
C. Coverage applies separately to each insured as if that interest were the only insured
Which of the following apply to the separation of insureds condition of the CGL policy? Select one: A. All of these answers are correct B. Coverage only applies to the first named insured on the policy C. Coverage applies separately to each insured as if that interest were the only insured D. Coverage applies separately if there are separate policies for each insured
A. All of these answers are correct
Which of the following are covered as part of Coverage A Bodily Injury and Property Damage of a Commercial General Liability policy? Select one: A. All of these answers are correct B. Liability due to one's products injuring others C. Contingent Liability caused by a subcontractor of the insured D. Liability assumed under a lease contract
D. All of these answers are correct
Which of the following are exclusions under all of the Causes of Loss Forms (Basic, Broad, and Special) attached to the Commercial Property coverage? Select one: A. Seizure or destruction by governmental authority except destruction to prevent the spread of fire B. Loss from a power failure, which occurs away from the insured's premises C. Earth movement (other than sinkhole collapse), except losses resulting in Fire and Explosion D. All of these answers are correct
B. Giving to an insured, for advertising purposes, an article of merchandise having a value of $25 or less
Which of the following are not Unfair Methods of Competition or Unfair or Deceptive Acts? Select one: A. Twisting or Churning B. Giving to an insured, for advertising purposes, an article of merchandise having a value of $25 or less C. Misrepresentation or false advertising of benefits, advantages, conditions or terms of an insurance policy D. Refusal to insure solely because of race, color, creed, marital status, sex, or national origin
C. A fine for a misdemeanor
Which of the following are not grounds for compulsory refusal, suspension or revocation of the license of a general lines agent or customer representative? Select one: A. Demonstration of a lack of reasonably adequate knowledge and technical competence to engage in the transactions authorized by the license B. Cheating on an examination required for licensing C. A fine for a misdemeanor D. Willful overinsurance of any property or health insurance risk
A. Workers' Compensation
Which of the following cannot be included in a Commercial Package Policy? Select one: A. Workers' Compensation B. Commercial Inland Marine C. Boiler and Machinery D. Commercial Automobile
D. A mother-in-law who gives cash as a gift
Which of the following does not have an insurable interest in a property? Select one: A. A mortgage company B. A friend who purchased insurance in his own name because the owner refuses to buy insurance C. The son of owner who expects to inherit property D. A mother-in-law who gives cash as a gift
D. Sole proprietors and partners in the construction industry may not exempt themselves from coverage
Which of the following is a true statement concerning sole proprietors under the worker's compensation law? Select one: A. All partners are considered to be employers and may exempt themselves under the law B. A sole proprietor may elect to be exempt from coverage under the law C. All of these answers are correct D. Sole proprietors and partners in the construction industry may not exempt themselves from coverage
D. Additional Living Expense
Which of the following is not covered by the Dwelling Policy DP1? Select one: A. Other Structures B. Debris removal C. Fair Rental Value D. Additional Living Expense
B. Farm Property Coverage covers household personal property
Which of the following is true regarding Farm Property Coverage? Select one: A. Farm Property Coverage covers growing crops B. Farm Property Coverage covers household personal property C. Farm Property Coverage does not cover barns and silos D. Farm Property Coverage does not cover animals
D. Domestic servants in private homes
Which of the following would not be considered an "employment" under the worker's compensation law? Select one: A. One or more employees in the construction industry B. Private employments with four or more employees except in the construction industry C. Governmental employments regardless of the number of employees D. Domestic servants in private homes
B. They are known as a program that offers insureds the broadest choices of doctors and specialty care
Which one of the following features is not true about a Health Maintenance Organization (HMO)? Select one: A. Their goal is to practice preventive medical care B. They are known as a program that offers insureds the broadest choices of doctors and specialty care C. They have separate physical facilities to treat patients D. They have few exclusions and a small deductible and co-payment
D. The current mortgage payment on a home being rebuilt is covered
Which statement about the Dwelling Fire DP1 Basic Form is not true? Select one: A. None of these answers are correct B. 20% of Coverage A is applied to Fair Rental Value with monthly limitations C. Loss of rent while the insured's home is being rebuilt from the fire is covered D. The current mortgage payment on a home being rebuilt is covered
B. A general lines agent or a general lines insurance agency
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
C. Two of these answers are correct
Why are Professional Employer Organizations (PEO) or Employee Leasing Companies not exempt from state regulation? Select one: A. Even though a purported "co-employer" relationship exist, the state does not recognize an employee/employer relationship with the employee and the PEO since the PEO does not control the hiring and firing of employees, evaluation of employee performance, discipline, determine compensation, or determine the hours, location, nature and method of work to be performed B. Florida Statute 468.529 prohibits PEOs from sponsoring self-insured health plans. C. Two of these answers are correct D. None of these answers are correct
C. All of these answers are correct
With respect to Uninsured Motorist coverage, the insured has several choices. Which one is correct? Select one: A. Apply for limits lower than the Bodily Injury limits provided by the policy B. Reject the "stacking" form of coverage C. All of these answers are correct D. Reject Uninsured Motorist Coverage
C. Department of Financial Services
Workers' Compensation is regulated in Florida by the Division of Worker's Compensation of the: Select one: A. Department of Highway safety and Motor Vehicles B. Public Service Commission C. Department of Financial Services D. Department of Labor and Employment Security
D. Refusal to use required safety devices
Workers' Compensation will pay benefits for which of the following? Select one: A. Injury due to intoxication B. Intentional self-injury C. Injury due to illegal drug use D. Refusal to use required safety devices
