C.A. Florida

1. Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to:

2. Insurance applies separately to each insured as if other insureds did not exist. This is defined as:

3. Property insurance policies usually contain a(n) __________ clause, stating the insured cannot dump damaged property on the insurer and demand its full value:

4. A(n) __________ is one wherein economic loss would be suffered from an adverse happening to the subject:

5. States that if the insurer adopts a revision which would broaden coverage without additional premium within some period of time prior to the policy period or during the policy period, the insured receives the benefit of such broadened coverage.

6. The __________ states that when there is an unbroken connection between an occurrence and damage that grows out of the occurrence, then the resultant damage is all a part of the occurrence.

7. The Loss Settlement Valuation that subtracts an allowance for depreciation is defined as?

8. A policy condition, either based on information in the insured's application or inserted by the insurer, is defined as:

9. The following are basic characteristics of a property or liability insurance contract, except:

10. The Insurer's responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property against further loss, and to give the insurer proof of the loss is defined as?

11. Which of the following is not one of the "Thresholds" in the "No-Fault" law?

12. Under Mechanical Breakdown Coverage, new cars are eligible for service up to:

13. If financial responsibility doesn't exist at the time of an accident, which of the following things must happen to avoid penalties?

14. As to required proof for future accidents by purchase of auto liability insurance, the insurer must make a filing (Form SR-22) certifying that coverage is in effect, and this certification must remain on file for __________ years:

15. The Business Automobile Policy includes all of the following coverage forms except:

16. Personal Injury Protection, or PIP, has a __________ per person, per accident limit.

17. The following examples are referred to as __________ liability limits: 25/50/25 or 10/20/10.

18. Jeremy has a not at fault accident. If he has PIP with a $1,000 deductible, how much can he expect his PIP coverage to pay toward his medical bills that total $3,000?

19. Frank has a not-at-fault accident, he has basic PIP, no deductible and Med pay of $5,000. How much will his Med Pay contribute to medical bills of $15,000?

20. Which of the following is not one of the rating factors for a Homeowner's Policy?

21. On a Homeowner's Policy, covers items that are not permanently attached to the dwelling. This is defined as:

22. A lender has an insurable interest in a home and finds protection in the:

23. Which of the following forms is "all-risk" on the dwelling policy?

24. When the basic liability limits provided by the policy are insufficient for an insureds needs, two coverage forms are used to provide the additional amounts of coverage:

25. Which of the following is not covered under Coverage C, Personal Property?

26. All of the following are eligible for a Homeowner's Policy, except?

27. Which of the following are characteristics of Homeowner's Insurance?

28. Jeremy owns a home that is recently damaged due to a hurricane. The repair estimate is averaged at $25,000 and Jeremy decides to stay in a hotel because most of the damage is to his bedroom and kitchen. Under a Homeowner's Policy, what coverage will pay for the hotel room bill?

29. An insured who wishes to purchase flood insurance, but is located in a moderate or low risk flood zone may do so by purchasing a:

30. Used only for Commercial Condominiums, it covers the unit-owners business personal property and the personal property of others in the insured's care, custody or control:

31. The Commercial Property Contract includes all of the following, except:

32. Insures a condominium association against direct physical loss or damage to buildings, business personal property and personal property of others in the care, custody or control of the association and located at the premises:

33. Sometimes referred to as commercial fire and allied lines, this is the form of insurance that covers direct and indirect losses related to properties other than one-to-four family dwellings and farm properties:

34. Under Commercial Property Policies, Florida law requires an insurer to give the insured at least __________days advance written notice of non-renewal.

35. When a business's personal property values fluctuate, a single, fixed amount of insurance could produce either over- or under-insurance at any given time. With this option, the limit of coverage is set at an amount somewhat higher than expected peak values.

36. Liberalization states, "The insured gets the benefit of any broadened coverage if the company, within __________ days of inception, adopts a form revision that is broader and without increase in premium."

37. Used to cover buildings in the course of construction:

38. First developed as an extension of Ocean Marine coverage, to provide coverage for cargo traveling over land, instead of by sea.

39. Protects against loss of business income that results from damage to covered property from a covered cause of loss.

40. What payment covers several areas of costs related to claims, and are payable in addition to the policy limits?

41. Three full-time employees from a local furniture company are horsing around and one is pushed into a machine that cut his foot. How will the company's General Liability respond?

42. Which of the following can be found in a Commercial General Liability Contract?

43. There is __________ coverage for injury, damage or clean-up costs caused by pollutants, subject to minor exceptions:

44. Under a Commercial General Liability Policy, a basic limit of __________ per person applies to Medical Payments:

45. The Commercial General Liability __________ identifies the named insured and address, states the policy period and premium and miscellaneous information about the insured, and specifies the limits of coverage that apply.

46. The Nuclear Energy Liability Exclusion endorsement, in general, __________ all hazards related to nuclear energy.

47. Toxic wastes escaped from a gas station disposal tank. The insured operator discovers the leak and cleans up the spill. Unfortunately, the waste quickly seeped into the ground and has caused illness among the residents of a neighboring community This is an example of?

48. Applies to BI or PD which occurs during the policy period, regardless of any later time at which a claim is made:

49. Applies only to a BI or PD which occurs on or after the retroactive date, and for which the claim is received or recorded by an insured or the company during the policy period:

50. All of the following are components of Workers Compensation, except:

51. The following are classes of disability, except:

52. The measure to determine disability benefits is the __________ of the employee at the time of injury:

53. Mandatory for risks exceeding certain annual premiums, recognizes the prior loss experience of the risk and applies either a debit for unfavorable experience or a credit for better-than- expected loss results. This is defined as:

54. Under workers compensations, a rate is charged for every __________ of payroll to employees.

55. Under Workers Compensation, Part Four Your Duties if Injuries Occur, an employer is required to:

56. Under Workers Compensation, Employers Liability includes:

57. Samantha eats uncooked chicken at a local barbecue joint and becomes violently ill. Which of the following workers compensation benefits would pay for this occurrence?

58. An optional alternative providing for adjustment of premium after expiration, based on a guaranteed basic premium to the insurer to which is added the actual losses incurred by the insured. This is defined as:

59. Under Employer's Liability, the minimum limits of liability are:

60. Under Inside The Premises - Robbery or Safe Burglary of Personal Property, a special limit of __________ per occurrence applies to articles whose principal value is precious metals, precious or semiprecious stones, pearls or furs, and to the physical or intrinsic value of manuscripts, drawings or records:

61. Under Crime Insurance, losses must be discovered within 1 year. This is defined as:

62. Crime Insurance is _________ over any other Insurance coverage.

63. Cover only losses that both occurred and were discovered during the policy period, or within one year of its expiration. This is defined as:

64. Any loss discovered during the policy period or within 60 days after its expiration (one year after expiration for losses connected with employee benefit plans) is covered regardless of when it occurred. This is defined as:

65. Under Crime Insurance, the insured is covered for loss by:

66. Provides for loss of money and securities outside the premises in the care, custody and control of a messenger or armored car service resulting from theft, disappearance or destruction. This is defined as:

67. Taking or attempted taking of property from within a locked safe or vault, by unlawful entry, with visible marks of forcible entry, or taking of the safe or vault from inside the premises. This is defined as:

68. Covers for all types of property, when surrendered away from the premises as a result of a threat to do bodily harm to the insured or an employee, or to a relative or invitee of either, who is (or allegedly is) being held captive. This is defined as:

69. Employee Theft Coverage may be written in the following ways:

70. Which of the following are NOT a type of bond?

71. Which of the following are characteristics of a License Bond?

72. Guarantees the performance between the principle and the obligee:

73. This bond guarantees indemnification to the obligee for any losses resulting from the principal's failure to complete the contract work in accord with specifications:

74. One who undertakes to perform, to fulfill a contract or to meet an obligation is known as:

75. This form of bond is required to accompany a bid for a contract which will require that the successful bidder furnish further bond if awarded the job:

76. May act as part of the bonding party and agrees to reimburse the surety for any loss it may suffer from having bonded the principal:

77. Which of the following are parties to a Bond?

78. This type of bond covers streets, sidealks, sewers, etc.:

79. When a person has lost stock certificates, bonds or similar instruments, a bond is generally required by the issuing company to reissue the document. This is known as a:

80. A __________ is a selected group of hospitals and medical practitioners in a given area who have joined together in an effort to reduce medical costs.

81. Define the coverage that pays a flat amount per day for hospitalization, regardless of expenses or other insurance:

82. This optional provision states that if the insured becomes totally disabled, premiums are waived but the coverage remains in force:

83. Provides coverage for expenses, including loss of income, arising from an accident. This is defined as?

84. This type of provision states the insurer can refuse to renew the policy only under certain conditions. The policy must state the conditions under which the policy will not be renewed. This is defined as?

85. The coverage that is intended to afford protection against catastrophic losses is defined as?

86. A policy may contain a provision which states a period of time between issuance and acceptance before sickness benefits begin. This is defined as:

87. Characteristics of an HMO plan usually include:

88. Provides indemnification to the insured for basic hospitalization of room and board in the hospital, nursing care, laboratory fees, operating room, medical supplies, etc. This is defined as?

89. A(n) __________ provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium.

90. Established in 1973, this association was created for applicants who are unable to obtain insurance in the private market:

91. In 2002, the Florida Residential Property and Casualty Joint Underwriting Association (FRPCJUA) and the Florida Windstorm Joint Underwriting Association (FWUA), were combined to create:

92. Passed during a legislative session in 1993, this association was created for employers who cannot obtain workers compensation insurance in the private market:

93. A General Lines Agent instructs a licensed Customer Representative 4-40 to thoroughly cover the details of a new life insurance product with every Homeowner customer who calls or visits the office. The agent provides training on the new product. Although the Customer Representative does not have a Life License, he or she feels comfortable with the training and does as requested. Which of the following is true?

94. Unlike a Customer Representative, a General Lines Claim Adjuster need not be appointed with the Department of Financial Services.

95. While selling an Automobile policy to a customer, an agent tells them that they are also required to purchase an Emergency Road Service Plan, even though that is not true. This is an example of:

96. A licensed General Lines Claim Adjuster is required to complete how many hours of continuing education every two years?

97. Once a Customer Representative 4-40 has been licensed and appointed for at least 3 years, he or she may transact insurance in the home of an existing customer.

98. After pleading guilty or no contest to a felony, a licensed individual has _________ days to inform the Department?

99. Must be licensed, appointed by a General Lines Agent and can transact AUTO insurance only in the Office Only.

100. Defaming a competitor company or agent is not only unprofessional, it can also result in a license suspension.

101. Defaming a competitor company or agent is not only unprofessional, it can also result in a license suspension.

102. A General Lines Claim Adjuster is required to obtain the same number of Continuing Education hours as a licensed Customer Service Representative.

103. An Insurance Company which is formed under the laws of the State of Illinois, and has its Home Office there, is considered a:

104. One who is involved in the investigation, adjustment, negotiation and/or trial preparations of claims arising under insurance policies is defined as:

105. Commonly referred to as claims auditor Establishing a dollar value on a claim is defined as:

106. Damaged property that may be retrieved, reconditioned and sold to reduce an insured loss is defined as:

107. The voluntary or intentional relinquishment of a known right is defined as a(n):

108. The principle of utmost good faith on which an insurance contract is based places serious responsibilities on the claims adjuster in regards to:

109. The adjusters basic activities in claims handling are:

110. Under the Florida Unfair Insurance Trade Practices Act, penalties are provided for misrepresentation of business practices, which include all of the following except:

111. An adjuster who represents the financial interests of the insured named in the policy is defined as a(n):

112. When investigating liability insurance claims, which of the following three major elements are determined:

113. A relationship that requires maintenance of a high degree of fidelity and loyalty to the interests of the principal, whether or not the adjuster is a direct employee is defined as:

114. An adjuster who is self employed and not affiliated with either insurers or bureaus is defined as a(n):

115. The adjuster's investigation may include all of the following except:

116. The assertion of an alleged legal right against an insurer, which carries with it a demand for appropriate relief, is defined as:

117. Relieving the financial burden on the claimant by making certain payments to the claimant even before the claim can be negotiated is defined as:

118. The process of disposing of an insurance claim is defined as:

119. All of the following are requirements for the "Code of Ethics," except:

120. A written statement given by the insured to the insurer acknowledging that money received in the settlement of damages is received, not as a final payment, but as an advance pending an outcome of a claim against the person responsible for the damage. This is defined as a(n):

121. Duties and functions of the Department of Financial Services include all of the following except:

122. An adjuster who is a salaried employee under the supervision of the home, branch, or regional claims department of insurers is defined as a(n):

123. Which of the following are not considered to be an adjuster:

124. An applicant for a license as an adjuster may qualify as an adjuster in the following fields (but not limited to):

125. A motor vehicle or mobile home which is a total loss is defined as:

126. When making any payment for damage to an automobile for a partial loss, the insurer shall have printed on the loss settlement, "Failure to use the insurance proceeds in accordance with the security agreement, if any, could be a violation of s.812.014, Florida Statutes." This is payment for a(n):

127. The District of Columbia and any state or territory of the United States in which an insurance agent maintains his or her principal place of residence or principal place of business and is licensed to act as an insurance agent. This is defined as:

128. Any material which is or may have been a motor vehicle or mobile home, which is inoperable and which material is in such condition that its highest or primary value is either in its sale or transfer as scrap metal or for its component parts, or a combination of the two. This is defined as:

129. An individual appointed by a general lines or agency to assist that agent or agency in transacting the business of insurance from the office of that agent or agency is defined as:

130. The authority given by an insurer or employer to a licensee to transact insurance or adjust claims on behalf of an insurer or employer is defined as:

131. The Department may issue a nonrenewable temporary license authorizing the appointment of a general lines insurance agent, life agent, or an industrial fire or burglary agent, for a period not to exceed:

132. How many continuing education hours must an insurance adjuster complete every 2 years?

133. Which of the following are considered unfair methods of competition and unfair or deceptive acts or practices:

134. A customer representative appointed by a general lines agent or agency in transacting only the business of private passenger motor vehicle insurance from the office of that agent or agency is defined as:

135. An individual representing an insurer as to life insurance and annuity contracts, including agents appointed to transact life insurance, fixed-dollar annuities, or variable contracts by the same insurer is defined as:

136. Charging an applicant for a specific ancillary coverage or product, in addition to the cost of the insurance coverage provided for, without the informed consent of the applicant is a practice of:

137. Which of the following are reasons for refusal, suspension or revocation of a license or appointment?

138. Every licensee shall notify the department, in writing, after a change of name, residence address, principal business street address and/or mailing address within how many days?

139. An agent who transacts any one or more of the following types of insurance: Property, Casualty, Surety, Marine, and Health is defined as a(n):

140. An agent representing a health maintenance organization, or as to health insurance only, an insurer transacting health insurance is defined as a(n):

141. An applicant for a temporary license must be:

142. One who is duly authorized by a subsisting certificate of authority issued by the department to transact insurance in this state. This is defined as a(n):