Exam Questions and Answers Solved

Florida Property & Casualty Insurance Exam Questions and Answers (Solved Papers)

The FAJUA is composed of: - Correct Answers ✅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 Answers ✅Airport and Air Meet

Liability Homeowners HO-3 policy - severe theft loss. Coverage A limit is $100,000. Insured losses include $25,000 furniture, clothing and other ordinary personal property plus $5,000 damage to guns and $5,000 damage to jewelry, furs. Insured

will recover: - Correct Answers ✅$29,000 less any

deductible Each of the following divisions falls under The Department of Financial Services EXCEPT? - Correct Answers ✅The Division of Consumer Activities Which of the following 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? - Correct Answers ✅Outside the Premises 1 / 4

Florida Property & Casualty Insurance Exam Questions and Answers (Solved Papers) What is the standard All Perils deductible in the Commercial Property Policy? - Correct Answers ✅$500 Which of the following best describes a "Controlled" Inland Marine Form? - Correct Answers ✅Standard provisions form is written according to filed rules and rates Under a Personal Articles Floater, which of the following is covered as valued property? - Correct Answers ✅Fine Arts Under the Dwelling Program forms, vandalism is not covered after the building has been vacant for how many days? - Correct Answers ✅60 days Under a Commercial General Liability Contract, how many days notice of cancellation must the insurer provide for non- payment of premium? - Correct Answers ✅10 Under Additional Coverages, how much applies for loss assessments imposed by an association against the insured for damage to property caused by a peril insured against under Coverage A? - Correct Answers ✅$1,000 2 / 4

Florida Property & Casualty Insurance Exam Questions and Answers (Solved Papers) The following are basic characteristics of a Property or

Liability Insurance Contract EXCEPT: - Correct Answers

✅Loss Settlement Contract Rob has PIP with a $1,000 deductible. He has an auto accident causing $6,000 in medical bills. How much will his PIP pay? - Correct Answers ✅$4,000

• $6,000 - $1,000 deductible = $5,000 x 80% = $4,000

QRS Construction Company wants to provide the local school district with a price for building a new grammar school. In order to accept the price, the school board needs a bond that would pay the difference between QRS's price and the next highest price. What kind of bond does QRS need to provide to the school district? - Correct Answers ✅Bid bond

• The Bid Bond is required to accompany a bid for a contract

which will require that the successful bidder furnish further bond if awarded the job. The guarantee is that if the bid is accepted, the bidder will enter into the contract and will satisfy further bonding requirements for the job Which of the following guarantees the payment of materials in full upon completion of the work? - Correct Answers ✅Payment Bond 3 / 4

Florida Property & Casualty Insurance Exam Questions and Answers (Solved Papers) Which of the following events would be covered under an HO- 3? I. A sewer line became clogged and the toilet in the house backed up and overflowed, damaging the carpet. II. Wind blew a front door open and rain damaged the carpet. III. The neighbor's German Shepard damaged the garage doorframe while trying to get in the insured's garage to eat the dog food stored there. - Correct Answers ✅II and III only All of the following are located on a Boiler and Machinery

Coverage form EXCEPT: - Correct Answers ✅Exhibits

The Motor Truck Cargo Policy: - Correct Answers ✅Insures a

truck carrier for liability arising out of the transportation of cargo.All of the following are types of property that can be covered

under a Personal Articles Floater EXCEPT: - Correct Answers

✅Firearms What is the standard deductible for Employee Theft coverage? - Correct Answers ✅$500 The Forgery or Alteration coverage under a Businessowners

Policy is: - Correct Answers ✅$2,000

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