Florida 4-40 test Questions And Answers
Question 1: Transferring the risk to an insurance company is
known as what?
CORRECT ANSWER : Insurance
Question 2: When the insured request to have the company
change a condition or provision in an insurance policy the document attach to the policy is referred to as what?
CORRECT ANSWER : Endorsement
Question 3: George and Sandy only home which was
damaged by fire who has insurable interest
CORRECT ANSWER : George and Sandy
Question 4: What is the most common loss settlement
valuation in the property policies?
CORRECT ANSWER : Actual cash value
Question 5: The insurance company pays the insured for
damages that should have been collected from the app fault
party now the insured right to seek damages from the airport party are transferred to his insurance company what best describes this concept
CORRECT ANSWER : Subrogation
Question 6: PIP
CORRECT ANSWER : Personal Injury Protection
Question 7: Pip coverage is
CORRECT ANSWER : Primary
Question 8: Tort Immunity
CORRECT ANSWER : Relief for persons who have suffered
harm from the wrongful acts of others
Question 9: Extend PIP
CORRECT ANSWER : To fill percentage gaps
Question 10: Additional PIP increases limits to...
CORRECT ANSWER : Increase dollar limit only 10,000 to
25,000 or more
Question 11: Under Florida law what are the benefits payable
for medical expenses
CORRECT ANSWER : 80%
Question 12: Under Florida law what are the benefits payable
for lost wages
CORRECT ANSWER: Up to 60%
Question 13: Death benefits
CORRECT ANSWER : 5,000
Question 14: Deductibles are how much
CORRECT ANSWER : $250,$500,$1000
Question 15: Cease to defend
CORRECT ANSWER : Limits exhausted by payment
Question 16: Before an owner of a vehicle can't obtain a
license plate and tag registration the owner must purchase PIP coverage in property damage liability coverage in the amount of
CORRECT ANSWER : $10,000
Question 17: When will the individuals be requested to prove
they are financially capable three different times
CORRECT ANSWER : At the time of an accident ( 2 )a major
traffic violation and (3) an insurance vehicle is used in a felony
Question 18: The minimum liability limits bar
CORRECT ANSWER : 10/20/10
Question 19: Which of the following does not trigger
financial responsibility
CORRECT ANSWER : An accident with a small amount of
property damage
