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20-44 Licensing > Sample 20-44 Questions > Flashcards

Sample 20-44 Questions Flashcards

1
Q

An individual injured in an automobile accident has PIP with a $1,000 deductible. If the individual is
injured by an at-fault driver and suffers $8,000 in medical expenses, how much could they seek to
recover in a tort claim?
A. -0-
B. $2,600
C. $2,400
D. $8,000

A

C. $2,400

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2
Q

Which statement best describes ones position under the Florida No-Fault Law when total economic
loss exceeds P.I.P benefits without exceeding a threshold?
A. Suit for intangible or general damages permitted; suit for economic loss not paid or payable not
permitted.
B. No recovery after P.I.P. is exhausted.
C. No suit for intangible or general damages; suit for economic loss not paid or payable under P.I.P. is
permitted.
D. Sue if P.I.P. is exhausted.

A

C. No suit for intangible or general damages; suit for economic loss not paid or payable under P.I.P. is
permitted.

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3
Q

John has three autos insured with “Stacked” Uninsured Motorist coverage in the amount of $100,000.
John is driving Tim’s auto which has $50,000 UM coverage and has an accident in which the other party
is negligent. What is the maximum John might collect under UM?
A. $100,000
B. $300,000
C. $150,000
D. $350,000

A

D. $350,000

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4
Q

The penalties for failure to comply with the Florida No Fault law are all EXCEPT:
A. personal liability for PIP benefits
B. loss of tort immunity
C. misdemeanor punishable up to 30 days in jail
D. suspension of drivers license & auto registration

A

C. misdemeanor punishable up to 30 days in jail

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5
Q

You have 10/20/10; neighbor has 10/20/10. You borrow neighbors car. Following damage occurs:
Pedestrian injured $15,000
Parked sports car damaged $12,500
How much, if anything, is payable under the two policies?
A. Your policy pays $10,000 B.I., $10,000 P.D. Neighbors $5,000 B.I., $2,500 P. D.
B. Neighbor’s policy pays $10,000 B.I., $10,000 P.D. Your policy pays $5,000 B.I., $2,500 P.D.
C. Your policy pays $10,000 B.I., $10,000 P.D. Neighbor’s policy pays nothing.
D. Neighbor’s policy pays $10,000 B.I., $10,000 P.D. Yours pays nothing

A

B. Neighbor’s policy pays $10,000 B.I., $10,000 P.D. Your policy pays $5,000 B.I., $2,500 P.D.

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6
Q

The PAP coverage that provides the insured coverage for BI for a claim against another driver who
has no liability insurance or liability less than the insured’s injuries, is called:
A. Uninsured Motorist
B. Liability
C. Medical Payments
D. Major Medical

A

A. Uninsured Motorist

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7
Q

Covered breakdown involves both engine and transmission. How will deductible be applied?
A. No deductible in Mechanical Breakdown polices
B. One deductible no matter how many parts
C. None of these
D. Separate deductible for each part

A

B. One deductible no matter how many parts

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8
Q

All of the following vehicles are eligible for coverage under a Personal Auto Policy EXCEPT:
A. pickup not used in business
B. 4 wheel drive private passenger type sports-utility vehicle
C. under lease for more than 4 months
D. owned by the insured

A

C. under lease for more than 4 months

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9
Q

Jill has 3 autos with 100/300 stacked U.M. on each. The maximum U.M. coverage she has is:
A. 200/600
B. 100/300
C. 300/900
D. 10/20/10

A

C. 300/900

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10
Q

How does Auto Medical payments apply to injuries that are also covered by Workers Compensation
benefits?
A. MP excess over WC
B. MP excludes coverage if WC available
C. WC excess over MP
D. Coverage shared on a pro rata basis

A

B. MP excludes coverage if WC available

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11
Q

In the Personal Auto Policy, the basic dollar limit on Part D - Damage to Your Auto is:
A. $5,000
B. $10,000
C. $25,000
D. no dollar limit (ACV.)

A

D. no dollar limit (ACV.)

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12
Q

For Personal Injury Protection, the owner of a motor vehicle is the:
i. one who holds legal title
ii. debtor in possession
iii. one who leases with option to purchase
iv. one who leases for 6 months or more
A. i, iii
B. i, ii
C. ii, iii, iv
D. i, ii, iii, iv

A

D. i, ii, iii, iv

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12
Q

Under P.A.F. Scheduled Coin Collection, 2 rare gold coins scheduled at $5,000 each are sent by first
class mail to be appraised by an expert. Lost in the mail. P.A.F. will:
A. Pay ACV
B. Pay nothing
C. Pay $10,000
D. Pay $250

A

B. Pay nothing

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13
Q

Under Blanket P.A.F. on coins and stamps the maximum paid per coin or stamp is:
A. $ 500
B. $ 1,000
C. $ 250
D. $10,000

A

C. $ 250

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14
Q

Ms. Rhinehart has a Personal Auto Policy with liability limits of $100,000. If she has an accident
and is found to be negligent, how much would her policy pay if there was a $120,000 judgement and
$32,000 in defense costs?
A. $132,000
B. $ 82,000
C. $152,000
D. $100,000

A

A. $132,000

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15
Q

Insured has a Basic Form DP-1 with no endorsements. A helicopter flying on a windy day crashes
into the dwelling, causing much damage. Which statement best describes how the DP-1 will respond?
A. DP-1 will pay nothing. Damage by aircraft is only covered if ‘EC’ perils are purchased.
B. DP-1 will pay nothing. Wind is the proximate cause of the loss, and coverage for wind must be
purchased by endorsement.
C. DP-1 will pay all damages. Damage by aircraft is one of the basic perils included in the policy.
D. DP-1 will pay all damages. Wind is the proximate cause of the loss, and is a covered peril on the
policy.

A

A. DP-1 will pay nothing. Damage by aircraft is only covered if ‘EC’ perils are purchased.

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15
Q

Under Inland Marine policies all are correct EXCEPT:
A. Jewelry & Furs - 30 days automatic cover- age
B. Theft coverage requires visible signs of forceful entry
C. Fine Arts - 90 days automatic coverage
D. 25% of limit for newly acquired property

A

B. Theft coverage requires visible signs of forceful entry

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16
Q

Special Form excludes all except:
A. Windstorm/Hurricane damage
B. Rust, deterioration
C. Insect, animal, bird damage
D. Employee theft of covered property

A

A. Windstorm/Hurricane damage

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16
Q

Theft of the air conditioning unit on a DP-3 would be:
A. Limited to $2,500
B. Covered under Coverage A, Building
C. Excluded unless Broad Theft endorsed
D. Covered under Coverage C, Contents

A

B. Covered under Coverage A, Building

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16
Q

Which coverage listed below is found in a DP-3, and not in a DP-1?
A. Other Structures
B. Fair Rental Value
C. Personal Property
D. Additional Living Expenses

A

D. Additional Living Expenses

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17
Q

Wife buys $100,000 policy on building. Husband buys $200,000 policy on same building. $75,000
loss - how paid?
A. Over insured - No coverage
B. $100,000 policy was first. It is primary - $75,000 paid
C. $100,000 policy pays $25,000 - $200,000 policy pays $50,000
D. Each policy pays $37,500

A

C. $100,000 policy pays $25,000 - $200,000 policy pays $50,000

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18
Q

Insured has DP-1 with vandalism coverage. Premises vacant 20 days when vandals cause $1,000
damage. Ignoring deductible recovery is:
A. $850
B. Nothing - coverage suspended
C. $1,000
D. $250

A

C. $1,000

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19
Q

Under DP-1, which are for additional amounts of insurance?
A. Other structures
B. None of them
C. Property off premises
D. Rental value

A

B. None of them

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20
Q

If all flooding in an area is confined to one building, the flood must inundate:
A. over an acre of area
B. over 3 acres of area
C. the building
D. over 2 acres of area

A

D. over 2 acres of area

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20
Q

Flood Coverage applies on an ACV basis unless:
A. the Replacement Cost option is purchased
B. the insured carries insurance equal to or greater than 80% of Replacement Cost
C. the insured resides in the residence at least 80% of the time
D. rebuilds within a reasonable time

A

C. the insured resides in the residence at least 80% of the time

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21
Q

Agents in the state of Florida may rebate a portion of their commissions to the customer. The agent
must meet all of the following, except:
A. Agent must maintain a rebate schedule for two years
B. Rebate schedule must be posted in the agency
C. Available to all insured’s in the same actuarial class
D. The rebate schedule must be filed with the insurer

A

B. Rebate schedule must be posted in the agency

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21
Q

If a flood of a single premises is to be covered, the flood must inundate:
A. an acre of land
B. there is no area requirement
C. the dwelling only
D. two acres

A

D. two acres

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22
Q

The body of statutory law known as ERISA is primarily enforced by which of the following:
A. United States Department of the Interior
B. United States Department of Justice
C. United States Department of State
D. United States Department of Labor

A

D. United States Department of Labor

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22
Q

MEWA stands for which:
A. Medical Education Workers Association
B. Marine Environment Workers Association
C. Multiple Employer Workers Association
D. Multiple Employer Welfare Arrangement

A

D. Multiple Employer Welfare Arrangement

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23
Q

Under ERISA a major goal was to allow which:
A. A single employer to fully self insure a health plan
B. Require at least 2 employers to self insure a health plan
C. Require at least 3 employers to self insure a health plan
D. Require at least 4 employers to self insurance a health plan

A

A. A single employer to fully self insure a health plan

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23
Q

All of the following coverages are available in policies issued through Citizens Property Insurance
Corporation, EXCEPT:
A. Loss of Use Coverage
B. Animal Liability Coverage
C. Damage to Property of Others
D. Other Structures Coverage

A

B. Animal Liability Coverage

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24
Q

Under the CFO the Department shall in its order suspending a license specify a period of suspension
or revocation, but the period shall not exceed:
A. 2 years
B. 4 years
C. 3 years
D. 1 year

A

A. 2 years

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25
Q

Knowingly making, publishing or circulating any oral or written statement which is false or
maliciously critical of any person and which is calculated to injure such a person is known as:
A. defamation
B. coercion
C. intimidation
D. boycott

A

A. defamation

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26
Q

Liability coverage through the Florida Auto JUA is available to a maximum amount of:
A. 50/100/25
B. 250/500/100
C. 10/20/10
D. 100/300/50

A

D. 100/300/50

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27
Q

The Florida Comprehensive Hurricane Damage Mitigation Program is with:
A. Department of Financial Services
B. Department of Agriculture
C. Department of Professional Regulation
D. Department of Emergency Operations

A

A. Department of Financial Services

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28
Q

An insurance company with headquarters in Paris, France is authorized to do business in Florida. To
the Florida market such a company is
A. Foreign Company
B. Off Shore Company
C. Domestic Company
D. Alien Company

A

D. Alien Company

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29
Q

Knowingly making any misleading representations or incomplete or fraudulent comparisons of any
insurance policy with the intent of inducing a person to cancel or lapse an insurance policy is known as:
A. Sliding
B. Misrepresentation
C. Twisting
D. Coercion

A

C. Twisting

29
Q

If an insurance company headquartered in Kansas City is authorized to do business in Florida, to
Florida this company is a
A. Alien Company
B. Foreign Company
C. Off Shore Company
D. Domestic Company

A

B. Foreign Company

30
Q

Under the CFO, the Department of Financial Services has a duty to investigate which:
A. Rates
B. Be satisfied that the applicant is qualified to write and service Property and Casualty Insurance
C. Commission scale
D. Policy forms

A

B. Be satisfied that the applicant is qualified to write and service Property and Casualty Insurance

31
Q

All of the following are sliding except:
A. telling the applicant that a coverage or product is included in the policy applied for with no additional
charge, when such charge is required.
B. charging an applicant for a coverage or product in addition to the cost of the insurance coverage
applied for without the informed consent of the applicant.
C. telling the applicant that a coverage or product is required by law when such coverage or product is
not required.
D. offering part of the commission to the applicant as an inducement for them to buy insurance from
you.

A

D. offering part of the commission to the applicant as an inducement for them to buy insurance from
you.

32
Q

Each of the following is required to be licensed except:
A. customer representative
B. limited customer service representative
C. insurance office receptionist
D. insurance agent

A

C. insurance office receptionist

32
Q

An insurance company formed in any state, other than Florida, is known as:
A. Alien
B. Domestic
C. Mutual
D. Foreign

A

D. Foreign

33
Q

The continuing education statutes require a minimum of:
A. at least 4 hours on the subject of ethics
B. at least 1 hour on the subject of Financial Responsibility Law
C. at least 1 hour on the subject of premium discounts on property insurance hurricane mitigation
D. at least 4 hours on the subject of ethics and at least 1 hour on the subject of Financial Responsibility
Law

A

C. at least 1 hour on the subject of premium discounts on property insurance hurricane mitigation

34
Q

The definition of “Controlled Business” as defined by Florida Statutes means income from business
for applicant’s or family’s interest or other organization in which applicant is associated or interested is
more than
A. 60%
B. 50%
C. 80%
D. 40%

A

B. 50%

35
Q

Each of the following is an example of opening protection except:
A. impact resistant windows
B. hurricane shutters
C. windowless doors
D. impact resistant sky lights

A

C. windowless doors

36
Q

All of the following are eligible coverages for commercial automobiles in the Florida Auto Joint
Underwriting Association, EXCEPT:
A. Medical Payments coverage
B. Liability Coverage
C. Personal Injury Protection (PIP)
D. Uninsured Motorist coverage

A

A. Medical Payments coverage

36
Q

Authority given by an insurer to transact insurance on behalf of the insurer defines:
A. License
B. Diploma
C. Certificate of Authority
D. Appointment

A

D. Appointment

37
Q

All of the following are functions of the Department of Financial Services except:
A. Approve insurance policy forms, rules and rates
B. Investigate unfair trade practices by agents
C. Supervise claims activities of companies
D. Approve issuance of licenses to agents and customer representatives

A

A. Approve insurance policy forms, rules and rates

38
Q

Giving back to the insured part of the agent’s commission is called:
A. Rebating
B. Return Premium
C. Retention
D. Recall

A

A. Rebating

39
Q

Rebating is allowed in Florida:
I. If the rebate is available to all insureds in the same class
II. If done in accordance with a rebating schedule filed with the insurer
III. If insured purchases collateral lines with the agent
IV. Never
A. IV
B. I, II
C. I, II, III
D. I, III

A

B. I, II

40
Q

Agents are licensed by:
A. Department of Insurance
B. Insurance Companies
C. Insurance Agencies
D. Pearson Vue

A

A. Department of Insurance

41
Q

The minimum basic limit for Personal Liability are:
A. $100,000 liability/$1,000 med pay
B. $100,000 liability/$500 med pay
C. $ 25,000 liability/$1,000 med pay
D. $ 25,000 liability/$500 med pay

A

A. $100,000 liability/$1,000 med pay

42
Q

Under an HO-3, an insured will receive full replacement cost coverage on a loss to the dwelling if:
A. the insured complies with the coinsurance percentage selected
B. the limit of the coverage is greater than the loss
C. the limit of coverage is greater than 80% of the loss
D. the insured carries a limit equal to or grater than 80% of the replacement cost of the dwelling

A

D. the insured carries a limit equal to or grater than 80% of the replacement cost of the dwelling

43
Q

What is the limit of Coverage D on Homeowners Form 3?
A. 40% of C
B. 30% of A
C. 20% of C
D. 10% of A

A

B. 30% of A

44
Q

Car runs into neighborhood association’s recreation room. Association member billed $1,750. His
HO pays:
A. $1,500
B. $1,250
C. $1,750
D. $1,000

A

D. $1,000

44
Q

Insured has HO-3 Coverage A in amount of $100,000. Due to a careless smoker a trash basket full of
junk mail catches fire. Resulting damage is:
Smoke damage to paint, wallpaper …… $1,000
Tropical fish tank overheats, breaks open ….. $ 500
Valuable fish die from lack of water: Cost new - $1,000 Cost today - $1,500
Insureds’ wife, sad from loss of fish, takes ski trip to Colorado ….. $5,000
Insured has standard $500 deductible; he will collect:
A. Nothing
B. $1,000
C. $2,750
D. $2,250

A

B. $1,000

45
Q

B&B Corporation owns a dwelling for entertaining clients. Is B&B eligible for Homeowners
Insurance on this dwelling?
A. Yes, if otherwise eligible
B. No, coverage is excluded in policy
C. No, specifically ineligible
D. Yes, if endorsed

A

C. No, specifically ineligible

46
Q

All of the following are covered under insureds HO policy - Section II EXCEPT:
A. Vacant lot at seashore used for beach access - owned by insured.
B. Newly acquired secondary residence
C. Vacant lot at seashore as above - rented to insured.
D. Vacant land on which insured plans to raise cattle.

A

D. Vacant land on which insured plans to raise cattle.

47
Q

HO insured rents condo in Hawaii. Friend visiting condo falls, breaks leg. Later condo negligently
burned. How paid?
A. Neither covered
B. Leg only
C. Both leg and fire legal covered
D. Fire legal only

A

C. Both leg and fire legal covered

48
Q

Under HO policies the limit on computers and cellular phone used primarily for business is what
amount when off premises:
A. $500
B. $750
C. $1,500
D. $250

A

C. $1,500

49
Q

All of the following are insured locations under Section II Homeowners Insurance EXCEPT:
A. Family dwelling being constructed for insured’s occupancy
B. Insured’s office
C. Vacant land owned by or rented to insured
D. Cemetery plot

A

B. Insured’s office

50
Q

Any act of stealing except employee infidelity refers to:
A. Embezzlement
B. Larceny or theft
C. Robbery
D. Burglary

A

B. Larceny or theft

50
Q

Bill has HO. Out of town on business. $4,000 business computer stolen from hotel room. How paid?
A. $500
B. $2,500
C. $1,500
D. $250

A

C. $1,500

50
Q

A provision granting immediate benefit to insured for revisions that broaden his coverage is called:
A. Liberalization
B. Transfer
C. Other insurance
D. Subrogation

A

A. Liberalization

50
Q

Insured has personal property at two locations. Values at location 1 are $100,000. Values at location
II are $300,000. Insured has $400,000 blanket insurance. $137,000 loss from covered peril at location I.
How paid?
A. $137,000
B. $400,000
C. $300,000
D. $100,000

A

A. $137,000

51
Q

All are indirect losses except:
A. Fire burns part of building. Ordinance requires complete replacement
B. Fire causes landlord to lose tenants
C. Fire causes company to spend extra money to stay in business.
D. Fire destroys office building

A

D. Fire destroys office building

52
Q

The insurance provision that provides lower insurance rates for insureds who insure at levels close to
the value of property, thus getting insurance coverage closer to property values is called:
A. coinsurance
B. other insurance
C. proration
D. subrogation

A

A. coinsurance

53
Q

A natural occurrence, unpredictable and not preventable by man defines:
A. Consequential Loss
B. Extended coverage
C. Excluded perils
D. Act of God

A

D. Act of God

54
Q

A civil wrong which for insurance purposes must be caused by negligence refers to which of these:
A. Tort
B. Proximate cause
C. Prima-Facia
D. Master-Servant

A

A. Tort

55
Q

A convenience used to provide temporary insurance is called:
A. insurance
B. property coverage
C. binder
D. liability coverage

A

C. binder

55
Q

When the insurer adopts a provision providing broader coverage without additional premium, and
the broader coverage automatically applies to the existing policy, it is called:
A. Liberalization
B. Apportionment
C. Appraisal
D. Abandonment

A

A. Liberalization

55
Q

Insurance where payment is made on behalf of the insured to another party is called:
A. property coverage
B. binder
C. adverse selection
D. liability coverage

A

D. liability coverage

55
Q

Taking property by violence or threat of it refers to:
A. Burglary
B. Larceny or theft
C. Robbery
D. Embezzlement

A

C. Robbery

55
Q

Breaking and Entering with visible signs of forceful entry refers to:
A. Embezzlement
B. Robbery
C. Larceny or theft.
D. Burglary

A

D. Burglary

56
Q

If you are 20% at fault for $10,000 of damages, you can be held legally liable for how much:
A. $2,000
B. $5,000
C. Any amount (unlimited)
D. $10,000

A

A. $2,000

57
Q

To ask company to take partially damaged property and pay a total loss is called:
A. Abandonment
B. Moral hazard
C. Disclaimer
D. Conveyance

A

A. Abandonment

58
Q

One who has property of another in his care, custody, control is called:
A. Bailee
B. Obligee
C. Trustee
D. Grantee

A

A. Bailee

58
Q

Statute of Limitations is defined as:
A. Legal limit on post and pre-judgment interest.
B. Time within which a legal right must be exercised.
C. Limits of liability under Financial Responsibility laws.
D. Law limiting amount of Joint and Several Liability.

A

B. Time within which a legal right must be exercised.

59
Q

Any insurance where the insurer pays the insured or some other named interest directly is called:
A. binder
B. liability coverage
C. property coverage
D. adverse selection

A

C. property coverage

59
Q

One who makes a business of hauling property of others for a charge may be known as:
A. Indemnitor
B. Carrier
C. Principal
D. Obligee

A

B. Carrier

60
Q

The endorsement used to cover value of undamaged portion of building which must be demolished,
cost of demolition, extra cost to rebuild to meet present day construction laws is called:
A. Replacement Cost
B. Building Ordinance
C. Peak Season
D. Value Reporting

A

B. Building Ordinance

61
Q

Which best explains the difference between a Franchise and a Flat deductible?
A. Both disappear but Flat deductibles only after loss reaches a certain % of total values.
B. Flat deductibles are small in amount; Franchise quite large.
C. Franchise deductibles disappear when loss reaches certain amount and claimant is paid in full; Flat
deductibles do not disappear.
D. Flat deductibles are disappearing deductibles; Franchise are not.

A

C. Franchise deductibles disappear when loss reaches certain amount and claimant is paid in full; Flat
deductibles do not disappear.

62
Q

Intentionally caused losses come under which property insurance concept.
A. Moral Hazard
B. Physical Hazard
C. Morale Hazard
D. Proximate Cause

A

A. Moral Hazard

63
Q

Under DPs, vandalism is not covered after building has been vacant for how many days?
A. 30
B. 120
C. 90
D. 60

A

D. 60

63
Q

A Dwelling Policy Basic Form can be characterized as:
A. Limited named perils/ACV
B. Broad named perils/Replacement Cost
C. Limited named perils/Replacement Cost
D. Broad named perils/ACV

A

A. Limited named perils/ACV

64
Q

Eligible building under flood coverage must have all except:
A. Have approved storm doors and windows
B. Walls and roof
C. 50% above ground
D. Be permanent site

A

A. Have approved storm doors and windows

64
Q

Under the mortgage holder’s condition all of the following are rights granted to the lender except:
A. remain covered if acts of insured suspend his coverage
B. pay premiums if insured does not
C. receive rights of insured after company pays his claim
D. submit proof of loss if insured does not

A

C. receive rights of insured after company pays his claim

64
Q

Under Flood Program the loss settlement that usually applies to one’s principle residence is:
A. ACV
B. Valued policy
C. 80% coinsurance
D. Replacement Cost

A

D. Replacement Cost

64
Q

Standard deductible for DP’s is:
A. $500 All perils except hurricane - $1,000 minimum - 10% maximum
B. $500 All perils except hurricane - $500 minimum - 2% - 10% maximum for hurricanes
C. $1,000 All perils
D. 2% - 5% All perils

A

B. $500 All perils except hurricane - $500 minimum - 2% - 10% maximum for hurricanes

65
Q
  1. If a community has not been approved for flood coverage, but has applied for admittance, they come
    under:
    A. Special program
    B. Regular program
    C. Emergency program
    D. McCarren Furguson Act
A

C. Emergency program

20-44 Licensing (8 decks)

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