20-44FinalExamQuestions

___________ has become a major issue as regards the appropriate product (benefit/feature) mix, risk tolerance, stage of life and timing issues (senior citizens related to financial service products), and of course cost and commission.

All of the following are true regarding an agent’s fiduciary responsibilities EXCEPT?

The Department of Financial Service can request which of the following?

Ethics is the study of moral behavior and is the cornerstone of professionalism in the insurance industry. Which of the following values must ultimately prevail in the course of a license holder’s activities? (select all that apply)

Kermit Deforg, a licensed insurance agent, has advised his insured, Janet Jax, to cash in her life insurance policy to purchase another policy with his company even though there is absolutely no benefit to Janet for doing so.

George ‘s home was broken into and he filed a police report. His 55′ color television, DVD player, receiver, and X-box were all stolen. When George filed the claim with his insurance company he reported the theft of a 70’ color television, DVD player, Nikon D3300 HDSLR camera, stereo receiver, X-Box, and Apple Watch.

The Department of Financial Service can request which of the following from an agent, agency, or insurance company?

How old must an applicant be to be eligible to obtain an insurance License?

You have just received your insurance Agent License. You have crafted a marketing plan to offer all of your potential clients $50 if they purchase a policy from you.

FIGA handles the claims of insolvent property and casualty insurance companies. FIGA covers up to ___________ in damages and will pay up to an additional ________ if the claim is a homeowner’s claim with structure AND contents damage.

Which if any of the following statements are correct? (choose all that apply)

___________ has become a major issue as regards: the appropriate product (benefit/feature) mix; risk tolerance; stage of life and timing issues (e.g. senior citizens purchase of financial service products); and of course cost and commission.

Continuation Provisions in Health Insurance policies include? (choose all that apply)

All property insurance policies issued in Florida must (statutory requirement) provide coverage for _____________________.

Insurance agents and brokers procuring insurance through the surplus lines market place must first have exhausted all of the standard options available and must document the lack of availability after making a ‘__________’ and that ‘___________’ must be documented on a _________ form.

Medicare Supplement Insurance must be returnable within ___ days of purchase for a full premium refund.

The rule of law in Florida is _______________ negligence.

Ralph Estep, your PAP insured, has selected Uninsured Motorists coverage with 25/50 limits even though his BI limits are 100/300. He has advised you that he has ‘great’ health insurance and really doesn’t need UM coverage. What is your response?

You have been advised by your agency manager that your agency will now be using a premium finance company for your large Homeowners Insurance policies. The premium finance company you are using charges 15% simple interest to the insured.

Is the charge of 15% simple interest lawful?

All of the following regarding Policy Form Types and covered perils are correct EXCEPT?

Which of the following are true regarding Wind Mitigation credits? (choose all that apply)

Which of the following regarding Continuation provisions in Health Insurance policies are correct? (choose all that apply)

All of the following are defined as a ‘your covered auto’ by the Personal Auto Policy (PAP) EXCEPT?

Craig Gorney has suffered a compensable Theft loss and is in need of a replacement for his stolen vehicle. You advise Craig that the Transportation Expense coverage begins ___ hours after a Theft loss.

Aaron has an automobile insurance policy with single limit liability coverage. Which of the following could be Aaron’s policy limits?

A hazard is a condition that introduces or increases the likelihood of loss from a peril. Which of the following is true regarding the concept of ‚”hazard‚Äù?

All of the following are considered an ‘occurrence’ as regards insurance claims and coverage EXCEPT?

The following language: ‘We will provide the insurance described in this policy in return for the premium and compliance with all applicable provisions of this policy’ is an example of?

Which ‘other insurance’ provision reads: ‘each policy pays based upon it proportion to all applicable policy limits’ ?

This policy sections state what is not covered by the insurance policy either reducing what is covered or eliminating it altogether.

In the event of a loss there are additional supplementary payments made by an insurer. Which of the following is not a supplementary payment?

A Tenant occupied home with a DP-3 Dwelling Fire policy insuring it has Coverage D automatically in the policy. What does Coverage D cover?

Mobile Homes can be covered on:

Peter Piper is seeking an Insurance license with the sole purpose to sell 100% of any and all business to the parents of his children’s soccer, volleyball, gymnastics, football, and baseball teams.

Ethics is the study of moral behavior and is the cornerstone of professionalism in the insurance industry. Which of the following values must ultimately prevail in the course of a license holder’s activities? (select all that apply)

Kermit Deforg, a licensed insurance agent, has advised his insured, Janet Jax, to cash in her life insurance policy to purchase another policy with his company even though there is absolutely no benefit in doing so for Janet.

All of the following are true regarding an agent’s fiduciary responsibilities EXCEPT?

Which if any of the following statements are correct? (choose all that apply)

How old must an applicant be to be eligible to obtain an insurance License?

___________ has become a major issue as regards: the appropriate product (benefit/feature) mix; risk tolerance; stage of life and timing issues (e.g. senior citizens purchase of financial service products); and of course cost and commission.

All of the following are true regarding an agent’s fiduciary responsibilities EXCEPT?

The Department of Financial Service can request which of the following from an agent, agency, or insurance company?

Ethics is the study of moral behavior and is the cornerstone of professionalism in the insurance industry. Which of the following values must ultimately prevail in the course of a license holder’s activities? (select all that apply)

FIGA handles the claims of insolvent property and casualty insurance companies. FIGA covers up to ___________ in damages and will pay up to an additional ________ if the claim is a homeowner’s claim with structure AND contents damage.

George ‘s home was broken into and he filed a police report. His 55′ color television, DVD player, receiver, and X-box were all stolen. When George filed the claim with his insurance company he reported the theft of a 70’ color television, DVD player, Nikon D3300 HDSLR camera, stereo receiver, X-Box, and Apple Watch.

Peter Piper is seeking an Insurance license with the sole purpose to sell 100% of any and all business to the parents of his children’s soccer, volleyball, gymnastics, football, and baseball teams.

Kermit Deforg, a licensed insurance agent, has advised his insured, Janet Jax, to cash in her life insurance policy to purchase another policy with his company even though there is absolutely no benefit in doing so for Janet.

You have just received your insurance Agent License. You have crafted a marketing plan to offer all of your potential clients $50 if they purchase a policy from you.

Insurance agents and brokers procuring insurance through the surplus lines market place must first have exhausted all of the standard options available and must document the lack of availability after making a ‘__________’ and that ‘___________’ must be documented on a _________ form.

An insurer must provide a _________ __________ upon which any claims settlement is made.

Medicare Supplement Insurance must be returnable within ___ days of purchase for a full premium refund.

All property insurance policies issued in Florida must (statutory requirement) provide coverage for _____________________.

Ralph Estep, your PAP insured, has selected Uninsured Motorists coverage with

An insurer must provide a _________ __________ upon which any claims settlement is made.

You have been advised by your agency manager that your agency will now be using a premium finance company for your large Homeowners Insurance policies. The premium finance company you are using charges 15% simple interest to the insured. Is the charge of 15% simple interest lawful?

Which of the following are true regarding Wind Mitigation credits? (choose all that apply)

All of the following regarding Policy Form Types and covered perils are correct EXCEPT?

The rule of law in Florida is _______________ negligence.

Which of the following regarding Continuation provisions in Health Insurance policies are correct? (choose all that apply)

All property insurance policies issued in Florida must (statutory requirement) provide coverage for _____________________.

Insurance agents and brokers procuring insurance through the surplus lines market place must first have exhausted all of the standard options available and must document the lack of availability after making a ‘__________’ and that ‘___________’ must be documented on a _________ form.

Medicare Supplement Insurance must be returnable within ___ days of purchase for a full premium refund.

All of the following are defined as a ‘your covered auto’ by the Personal Auto Policy (PAP) EXCEPT?

Craig Gorney has suffered a compensable Theft loss and is in need of a replacement for his stolen vehicle. You advise Craig that the Transportation Expense coverage begins ___ hours after a Theft loss.

All of the following are defined as a ‘your covered auto’ by the Personal Auto Policy (PAP) EXCEPT?

Aaron has an automobile insurance policy with single limit liability coverage. Which of the following could be Aaron’s policy limits?

A hazard is a condition that introduces or increases the likelihood of loss from a peril. Which of the following is true regarding the concept of ‚”hazard‚Äù?

All of the following are considered an ‘occurrence’ as regards insurance claims and coverage EXCEPT?

Geri Curl’s engagement ring was stolen while on vacation from her hotel room. Ms. Curl insured her $10,000 ring with your agency after providing a copy of her appraisal and pictures of the ring for the $10,000 listed on the appraisal. The market value for the ring is now $15,000. The insurer paid Geri $10,000 for her stolen ring; this is an example of?

The following language: ‘We will provide the insurance described in this policy in return for the premium and compliance with all applicable provisions of this policy’ is an example of an?

The following language: ‘We will provide the insurance described in this policy in return for the premium and compliance with all applicable provisions of this policy’ is an example of an?

This policy sections state what is not covered by the insurance policy either reducing what is covered or eliminating it altogether.

Which ‘other insurance’ provision reads: ‘each policy pays based upon it proportion to all applicable policy limits’ ?

In the event of a loss there are additional supplementary payments made by an insurer. Which of the following is not a supplementary payment?

Mobile Homes can be covered on: