Florida Property & Casualty Insurance Exam Questions and Answers Latest (Verified Answers) 500+ Questions.
Question : Which of the following are the authorities that an
agent can hold?
Correct answer: Express and implied
Question : Which of the following terms refers to such
disabilities the loss of a limb, hearing , or eye sight?
Correct answer: Permanent partial disability
Question : Who is NOT considered an employee in an
commercial general liability (CGL) policy?
Correct answer: Temporary worker
Question : The major portion of the premium of an equipment
breakdown policy pays?
Correct answer: For inspections and examinations
Question : An insured owns a building valued at $400,000. To
comply with the 80% coinsurance provision of his insurance policy, how , much should he insure the property for?
Correct answer: 80% of the property's replacement cost or
more
Question : Under the Fair Credit Reporting Act, if the
consumer challenges the accuracy of the information contained in his or her report, the reporting agency must
Correct answer: Respond to the consumer's complaint.
Question : All of the following are found in the declarations
section of a policy EXCEPT the
Correct answer: Exclusions.
Question : The cost of restoring farm records is an additional
coverage offered under a farm policy. How much will the policy pay to restore the records?
Correct answer: Up to $2,000
Question : All of the following could be considered rebates if
offered to an insured in the sale of insurance EXCEPT
Correct answer: Dividends from a mutual insurer.
Question : Which of the following may be covered by
electronic data processing coverage form under an inland marine policy?
Correct answer: a) Computer hardware that is specifically
scheduled.b) Extra expense the insured incurs to continue the business following a loss.c) Data processing media, including magnetic tapes or paper tapes, punch cards and discs
Question : The party to a surety or fidelity bond who
promises to fulfill the obligation is the
Correct answer: Principal
Question : The transfer of money from inside a banking
premises to a person other than a messenger outside those premises or to a place outside those premises is covered under which commercial crime coverage?
Correct answer: Computer fraud
Question : Which of the following would NOT be covered
under the liability section of a personal auto policy?
Correct answer: Bodily injury is caused by the insured's
negligence while driving a three-wheel all-terrain vehicle.
Question : When a producer holding a certificate or a broker's
license has a change in his/her residence or business address, he/she must notify the Department of Insurance and any company for which the producer holds an appointment within
Correct answer: 30 days.
Question : What will happen if a house covered by a standard
mortgage clause is a total loss?
Correct answer: The insurer pays the mortgagee according
to the mortgagee's interest in the property.
Question : What is the civil penalty for violating a cease and
desist order of the Commissioner?