Florida Insurance 2-15 License Exam| Real Questions with Complete Solutions / Verified Answers 2023/2024
Florida Insurance 2-15 License Exam
1
Florida Insurance 2-15 License Exam|
Real Questions with Complete Solutions
/ Verified Answers 2023/2024
Which of the following insurance concepts is founded on the ability to predict the
approximate number of deaths or frequency of disabilities within a certain group
during a specific time?
A. Principal of large loss
B. Quantum insurance principle
C. Indemnity Law
D. Law of large numbers – Ans: – D
The owner of a camera store is worried that her new employees may help
themselves to items from inventory without paying for them. What kind of hazard
is described?
A. Physical Hazard
B. Ethical Hazard
C. Morale Hazard
D. Moral Hazard – Ans: – D
All of the following actions are examples of risk avoidance except
A. Bill will fly in an airplane
B. When he keeps her money out of the stock market
C. Pat pays his insurance premium
D. John never drives a car – Ans: – C
Which of the following statements is correct?
A. Only speculating risk are insurable
B. Only pure risk are insurable
C. Both pure risk and speculative risk are insurable
Florida Insurance 2-15 License Exam
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D. Neither Perez nor speculative risk are insurable – Ans: – B. Only pure risk are
insurable
Which of the following statements does not describe an element of an insurable
risk?
A. The loss must not be due to chance.
B. The loss must be definite in measurable.
C. The loss cannot be catastrophic.
D. The last exposures to be insured must be large. – Ans: – A
In the insurance business, which can be best defined as
A. Sharing the possibility of a loss
B. Uncertainty regarding the future
C. Uncertainty regarding financial loss
D. Uncertainty regarding when death will occur – Ans: – C
Buying insurance is one of the most effective ways of
A. Avoiding risk
B. Transferring risk
C. Reducing risk
D. Retaining risk – Ans: – B. Transferring risk
Which of the following best describes the function of insurance?
A. It is a form of legalize gambling
B. It spreads financial risk over a large group to minimize the last to any one
individual.
C. It protects against Living too long
D. It creates and protects risk – Ans: – B
A tornado is an example of
A. Physical hazard
B. A speculative risk
C. A peril
Florida Insurance 2-15 License Exam
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D. A moral hazard – Ans: – C
Tom buys his wife Mary a $50,000 diamond ring. When she is not wearing the ring,
she keeps it in a safe deposit box at a local bank. This is an example of a risk
A. Avoidance
B. Reduction
C. Retention
D. Transference – Ans: – b. reduction
Producers are expected to adhere to all of the following standers to protect
consumers and promote suitable sales except
A. selling to consumers needs
B. Determining the suitability of recommended products
C. Assessing prospects financial ability to pay commissions
D. Full and accurate disclosures – Ans: – C
An insurance company organized and headquartered in Florida can be described as
what type of company in Florida?
A. Alien
B. Home based
C. Foreign
D. Domestic – Ans: – D
Which of the following statements regarding types of insurers is not correct?
A. ReInsurers usually deal with policy owners
B. Mutual insurance companies are “owned” by their policy owners
C. Stock insurance companies seek a profit for their shareholders
D. Fraternal benefit society’s must be nonprofit organizations – Ans: – A
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