{"id":121175,"date":"2023-10-11T10:10:58","date_gmt":"2023-10-11T10:10:58","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=121175"},"modified":"2023-10-11T10:11:00","modified_gmt":"2023-10-11T10:11:00","slug":"florida-insurance-exam","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/10\/11\/florida-insurance-exam\/","title":{"rendered":"Florida Insurance Exam"},"content":{"rendered":"\n

Risk – correct answer the chance of financial loss
Risk is NOT the loss itself, but the _<\/em><\/strong> of loss. – correct answer CHANCE
Policy – correct answer a written contract for effecting insurance and includes Clauses, Riders,
endorsements, and papers which are part of the contract
Insurance – correct answer a contract where one undertakes to indemnify another or pay a specific
amount determined on contingencies
Binders – correct answer temporary insurance which can be made orally or written
property insurance – correct answer where payment is made directly to the insured or other named
interest
liability insurance – correct answer where payment is made on behalf of the insured to another
Indemnity contract – correct answer one-party should be put back in the same Financial condition they
were before the loss. Never profit from A Loss.
replacement cost – correct answer given new for old
agreed value – correct answer specific amount agreed in advance
Florida value policy law – correct answer paid limit for total loss
liability – correct answer pays amount that exceeds insured’s resources

insurable interest – correct answer insured would suffer economic loss
peril – correct answer a contingency that may cause a loss example Wind, Fire, theft
hazard – correct answer a condition that increases the likelihood of a loss from a covered peril
physical hazard – correct answer physical characteristics that increase the probability and severity of loss
example ice-covered steps
moral hazard – correct answer intentional loss
example steal from employer
Morale hazard – correct answer accident prone or carelessness example did not lock the car door
proximate cause – correct answer root cause
a doctrine that states when there is an unbroken connection between An Occurrence and damage that
grows out of the occurrence, then the resultant damage is all part of the occurrence.
direct loss – correct answer physical harm to tangible property
indirect loss – correct answer economic loss which flows as a consequence of the direct loss
example hotel stay after a fire
actual cash value – correct answer is the current cost to replace the item minus depreciation
replacement cost – correct answer is the actual cost to repair or replace property<\/p>\n\n\n\n

Download the full PDF Document here https:\/\/learnexams.com\/search\/study?query=<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Risk – correct answer the chance of financial lossRisk is NOT the loss itself, but the _ of loss. – correct answer CHANCEPolicy – correct answer a written contract for effecting insurance and includes Clauses, Riders,endorsements, and papers which are part of the contractInsurance – correct answer a contract where one undertakes to indemnify another […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-121175","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/121175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=121175"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/121175\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=121175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=121175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=121175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}