Florida P&C Exam Questions and Answers (Solved Papers) Jack, who owns a hardware store, applies for a loan to expand the premises. His loan application is denied. He learns that someone got his credit card number and used it to make purchases that exceeded his credit limit. Jack hires an attorney to help him repair his credit and loses time from work. What coverage might pay for some or all of these expenses? - Correct Answers ✅identity fraud expense coverage Which of the following businesses is generally NOT eligible for a businessowners policy (BOP)? - Correct Answers ✅auto body shop The errors and omissions coverage in an equipment breakdown policy is most likely to apply in which of the following situations? - Correct Answers ✅The insured made a mistake in describing the property location on the application.Mac bought a new gas grill from a local department store.After cooking dinner, he turns off the gas to the grill. A little later the grill explodes and damages Mac's home. The cause is determined to be a defect in the grill. Mac's homeowners policy pays for the damage to the home and grill. Having paid Mac's claim, the insurer is likely to do what with respect to the grill's manufacturer? - Correct Answers ✅subrogate the claim to seek recovery from the manufacturer 1 / 4
Florida P&C Exam Questions and Answers (Solved Papers) First Street Supply Company has a good business relationship with its main customer, Alliance Metals, which it wants to maintain even if a First Street employee were to get injured while visiting Alliance's factory. Which of the following endorsements might First Street add to its workers compensation policy to minimize potential disputes should that ever happen? - Correct Answers ✅Waiver of Our Right to Recover from Others endorsement In an unendorsed homeowners policy, losses to personal property are settled on what basis? - Correct Answers ✅actual cash value A company that only provides truck transportation for its own cargo is known as what type of carrier? - Correct Answers ✅private carrier A flat benefit amount in a disability income policy is usually what percent of the full disability benefit? - Correct Answers
✅50%
All of the following are federal workers compensation laws
that protect employees injured on the job EXCEPT: - Correct
Answers ✅Sue and Labor Clause How do public adjusters primarily differ from staff or independent adjusters? - Correct Answers ✅Public 2 / 4
Florida P&C Exam Questions and Answers (Solved Papers) adjusters represent insureds, while other adjusters represent insurers.A company that transports cargo belonging to others for a fee is known as what type of carrier? - Correct Answers ✅carrier for hire Which of the following statements regarding the Patient Protection and Affordable Care Act (PPACA) is correct? - Correct Answers ✅Medical expense insurance is available on a guaranteed issue basis to all persons regardless of pre- existing conditions.Which statement correctly describes managed care plans such as HMOs? - Correct Answers ✅They connect the financing and delivery of health care.The declarations page of Julius's equipment breakdown policy lists a number of coverages, such as property damage, expediting expenses, business income and extra expense, and utility interruption. The word "INCLUDED" is shown next to "property damage," but it does not appear elsewhere in the declarations, nor are there any dollar limits listed on the
page. Julius's policy provides coverage for: - Correct
Answers ✅property damage only 3 / 4
Florida P&C Exam Questions and Answers (Solved Papers) Robert is having a home built, which is 50 percent completed.He protects it with a dwelling policy that includes the Dwelling Under Construction endorsement. If lightning were to strike and destroy it, what (if anything) would the policy pay? - Correct Answers ✅50 percent of the coverage A limit
A liability adjuster has each of the following duties EXCEPT: -
Correct Answers ✅to prosecute the party that caused the loss James is a licensed adjuster who lives in Florida. He moves to Georgia. When must he notify the Department of Financial Services of his move? - Correct Answers ✅within 30 days The property section of a businessowners policy (BOP) provides how much coverage for the cost of replacing or restoring electronic data that has been destroyed or corrupted by a covered cause of loss? - Correct Answers ✅up to $10,000 Which of the following incidents would be covered by the equipment insurance breakdown policy? - Correct Answers ✅a surge in electricity damages a company's mainframe computer
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