FLORIDA 2-20 AGENTS LICENSE EXAM ACTUAL

FLORIDA 2-20 AGENTS LICENSE EXAM (ACTUAL / )

QUESTIONS AND 100% CORRECT ANSWERS| GRADE A+

All of the following are BI and PD exclusions under the CGL

EXCEPT: - --Answers---Excessive Liability

All of the following can be an insured under the Lawyers

Professional Liability policy EXCEPT: - --Answers---Lawyers

for their services after termination

What is the basic limit that applies to each occurrence for BI and PD under the CGL? - --Answers---$100,000

Basic limits for the Hospital Professional Liability form are: - -

-Answers---$250,000/$750,000

What is the basic limit for Fire Damage Liability under the CGL? - --Answers---$500,000

In the Liability section of the Businessowners policy, the

General Aggregate limit is: - --Answers---Equal to twice the

Liability and Medical Expenses limit

All of the following are not true regarding property coverages

under the Businessowners policy EXCEPT: - --Answers---ACV

on personal property

• / 4

Under the Businessowners policy, mercantile, wholesaler,

service or processing risks gross sales cannot exceed: - --

Answers---$3,000,000 in gross sales

All of the following are Optional Coverages under the

Buisnessowners policy EXCEPT: - --Answers---Collapse

Property coverage under the Businessowners policy is

written: - --Answers---Open perils/endorsed for named perils

Business Income and Extra Expense under the

Businessowners policy includes all of the following EXCEPT: -

--Answers---$500,000 limit

What are Permanent Impairment benefits based on? - -- Answers---A medical impairment rating schedule approved by the Division of Workers' Compensation

What are Temporary Partial benefits based on? - --Answers-- -Wage loss formula up to 104 weeks of impaired earnings

How can partners and sole proprietors elect to be covered for WC? - --Answers---File election form with the Division

The 3 categories of benefits under the WC law are all of the

following EXCEPT: - --Answers---Household services up to 60

days 2 / 4

Work that is to be completed in not over 10 days for less than

$500 and not in the employer's normal business is called: - --

Answers---Casual labor

How can a Corporate Officer be exempt from WC coverage? - - -Answers---File a notice with the Division of Corporations

Inside the Premises - Theft of Money and Securities covers loss of money and securities resulting from all the following

EXCEPT: - --Answers---Fraud

What is the standard deductible for Employee Theft? - -- Answers---$500

Employee Theft includes coverage for the following EXCEPT: -

--Answers---Work loss

If a loss is covered by recoverable insurance, the Crime policy

will be: - --Answers---Excess

Which additional insuring agreement, under the Crime Policy, covers threats to do bodily harm to the insured, employee, relative or invitee of either? - --Answers---Extortion

• / 4

What type of bond guarantees the principle will uphold the oath of office and faithfully perform the duties of office? - -- Answers---Public Official Bond

What type of bond guarantees performance by a person appointed by the court? - --Answers---Fiduciary and Court Bonds

All of the following are controlled Commercial Inland Marine

lines EXCEPT: - --Answers---Annual Transit

The Commercial Property Floater Dealer's policy covers

primarily: - --Answers---Damage to merchandise while on

the business premises.

What is a unique peril for Dry Cleaners? - --Answers--- Confusion of goods

Which of the following is not a clause found in the Ocean Marine policy? - --Answers---Port of Call Clause

What type of Ocean Marine deductible has no payment until the loss reaches a certain limit? - --Answers---Franchise deductible

The deductible for the Aircraft Hull policies is normally expressed as: - --Answers---Percentage deductible

• / 4